Currently, the cryptocurrency market is back on its feet – after dropping below $300 billion in its market cap. So, it is hard to classify the year 2018 as the end of cryptocurrencies. Rather, we would suggest that it offers great opportunities for buying.
‘Why is that the case?’ – you are asking yourself.
Well…
We believe that by now, we all learned that making any kinds of prediction related to the cryptocurrency market in general, is a very difficult and uncertain thing to do. Of course, I would try and give my opinion on what I think might happen in the near future.
Despite the plunge we saw last week, the entire market seems to have stabilized after a massive sell-off where billions of dollars destroyed the value of many crypto coins. We saw Bitcoin going under $8000 and Ethereum reaching a$945. Ethereum and Ripple went a little higher than 8 percent in just a day. The massive sell-off brought Bitcoin to its current price and this hasn’t happened since November last year.
The entire market is repeatedly being hit with bad news every day; it is facing a lot of scrutiny from the media. The biggest risk the market can face is that if the people just stop believing and lose interest in platforms and cryptocurrencies. That might be the greatest danger the crypto market can face. That doesn’t mean that it will disappear forever. I believe that cryptocurrencies are far from over but maybe they will change their form and we can see a lot of innovation happening. They might not vanish but be replaced with something better and new.
Of course, you should not take this as if it is 100 % sure to happen, it is just a possibility. Make sure you do a bigger research and give the crypto world some time.
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