The market capitalization and fiat currency value of cryptocurrencies is never at any time static. This is why even the most professional analysts and experts would not easily predict trends in the cryptocurrency market.
In 2017, bitcoin price per dollars in January was just $1000, in December of the same year, the value rose by more than 1,500% to $20,000 Some cryptocurrencies dwindled in market capitalization within a short period. Bitcoin gold, for example, fell by market capitalization $5.3 billion on the January 13th, 2017 to about $ 3.23billion on the 15 January.
Much of the present decrease in the value of cryptocurrency started with the decline of January 15, 2018. Some cryptocurrencies lost as much as 50% of their market value.
We can compare this to what happened following the ban on Bitcoin payments in China in 2014. The market capitalization of Ethereum dropped from $125 billion straight down to $98 billion in just 48 hours from January 2018.
Ripple was one cryptocurrency that proved to be the next big name after rising from 0.03 in the second quarter of 2017 to about $1.5 in just 10 months. Ripple’s application of the blockchain technology to cross-border payments was quite innovative and garnered support from several banks on the international scene. Read more from techbullion.com…
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