Cryptocurrency Report Card | 3 Quarters of 2018 | What to Expect in Coming Future
December 17, 2017 was a turning point in crypto-world when the king of cryptos i.e. BTC hit its high of all time ($19,850). Cryptocurrency gave an unbelievable hit by adding 20,566% to its original value 8 years ago and did the same last year with an increase of 1,400%. Last quarter of 2017 made a tremendous change in online investments. An unstoppable rise in major players of this industry attracted many new investors and gave rise to hundreds of ICOs and Startups. By the end of the second quarter this year, the numbers grew from hundreds to thousands as the public started realizing the potential in this industry. Working on one of the most advanced techs around the world i.e. Blockchain, the chances for the rise grew even more and so did the stakes.
2018 Beginning till now: A Reality Check
Ever since Cryptocurrency hyped, tensions started increasing for whether to invest at such high risk or stay low. In less than three months, BTC came to its lowest in 2018 yet during the first half of February falling below $6000. This impact had thousands of reasons joined to it including political and technical perspectives. With a value of more than $830 Billion in January 2018, Bitcoin suffered a huge loss of $553 Billion in the very next month which accounts for 66% of its value. This crypto crashed to $7000 and so did other crypto giants including ETH and Ripple with a loss of more than 40% each. Unfortunate events including South Korean Exchange attack made it even difficult for Bitcoin investors as it reached to $5900 in no time. According to coinmarketcap, In less than 4 days, market cap declined to approximately $3,00,000,000 as per June 2018. Due to South Korean hack, the value of other currencies like Ripple and ETH reflects a fall of more than 10% and 25% respectively in less than an hour. Despite Major social platforms like Facebook and Google banning crypto advertising, this platform lived and held all the challenges. Most of the crypto experts depict a major raise in crypto giants before the fall of 2018.
Is The Reign about to begun?
This sector of tech has been backed by a huge family which has invested more trust than money into it. Connected with one of the most advanced and transparent technologies known as Blockchain, Cryptocurrency gets a huge plus when it comes to security and speed. BTC has been rising again from huge loss and has recovered with a value of $6,668 in less than 3 months. Some of the experts predict it to rise from $25k to 50k before 2019 begins. Experts including Tom Lee (Snr. partner Fundstrat; ex-chief JP Morgan) and Rod Turner (CEO of Blockchain crowd funding platform Manhattan Street Capital) expect BTC’s value to Triple with the support of upcoming huge events. Support also includes the opening of physical exchanges which only operate for Cryptocurrency in different parts of the world where this technology is promoted. Taking exchanges into consideration, Bobby Lee (CEO BTCC Exchange) has predicted this currency to reach $1 million in near future. As per political strengths, William Hinman (Director of Corporate Finance for the SEC) has been approaching ETH as a positive investment by understanding the present state of this crypto. No company or platform was built in a single day. It takes patience, hard work and support to achieve success in this modern era. Cryptocurrency is the future face of currencies and has potential to take over traditional ones by having a permanent place in the world economy.
Disclaimer: Information shared above over Cryptocurrencies is for general knowledge only. Before considering any of the advice, you should definitely consult with your local/Country's financial and legal advisor. Author of the article is not liable for any loss or damages occurred due to use of any information shared as above information is no alternative to a financial advice. The user must understand and accept the sole responsibility of his own actions.
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Thank you dear @dandays