The cryptocurrency market has truly been something for Wall Street and retail investors to marvel at for more than a year. In 2017, the combined market value of digital currencies catapulted from just $17.7 billion to end the year at $613 billion.
For you math-phobic people, that’s a gain of more than 3,300%, and it just might represent the best year ever for a single asset class. Of course, 2018 hasn’t been as kind.
After rallying to $835 billion in market cap on Jan. 7, cryptocurrencies tumbled as much as 67%, to $276 billion, in less than a month.
The shellacking hit essentially all cryptocurrency investors, with popular currencies like bitcoin and Ripple losing a respective 70% and 83% from their all-time highs at their lowest points. However, in true cryptocurrency whipsaw fashion, digital currencies appear to be on the mend, once again.
Even though the aggregate market cap is still down by more than 20% from where it began 2018, most digital currencies have bounced significantly off their lows. Perhaps none stands out as having catapulted off its lows more substantially than Litecoin. Read more from fool.com…
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