The beginning of 2018 was a disaster for many crypto traders as we all witnessed a great fall in the value of many giant coins.
Ever since then, there has a fluctuation in the dollar value of many cryptos. Baby currencies were not left out as the clash also affected them as well. Bitcoin (BTC) witnessed over 500% decrease in dollar value and other altcoins also witness higher percentage decrease in their value as well. There have been many rumours about the causes of these falls but we would not talk about them in this article.
However, there is a good news. Cryptocurrency markets witnessed some increase over the past few days, with Bitcoin (BTC) and all the top 10 altcoins listed on Coin market cap currently showing more of greens than reds. The overall market capitalisation is close to $392bn.
Bitcoin (BTC), the king and future of all cryptocurrencies to some crypto experts, is up around 4 percent in the past three to four days, currently trading at $8,450. Though a decrease is expected as that has been the experience since the beginning of this year, but there is a hope that increase like this is expected more often from now on.
Ethereum (ETH) has always been by the side of BTC since the day it was launched. It also experienced the same change in value. It has crossed the level of $700, currently trading around $705 with an increase in its value of about 3% over the past four days.
May 18 was a big lose day as the market cap decreased to about $361, but this changed in the past three days as the market cap hit around $392 Bln.
Tron (TRX), which just joined the top 10 coins’ list, has seen some of the largest gains over the past few days up 10 percent and trading at $0.082. This was a very big gain and most investors and traders really benefited from this. Based on recent research, this coin is one of the selected coins that were anticipated to gain more this year and as we are seeing now it is doing well already. Though we don’t know what will happen next at least we are witnessing it doing quite well.
Bitcoin Cash (BCH) is up by about 8% in the past few days trading at $1,250. BCH has seen the biggest weekly loss among the top 10 coins, around 12.5%.
NEO (NEO) was not also left out of the show as it witnessed about 8 percentage increase, rocking about $61. It is also one of the coins that were anticipated to dominate 2018. It has been doing well so far.
IOTA (MIOTA) market was rather slower in the increase and didn’t perform much. Its present price is about $1.70 and hardly witnessed a 3 percent increase.
Stellar was (XLM) not also more of a winner in the past few days though it also witnessed its own increase along the way. It is still bought at $0.31.
Litecoin (LTC) really recovered from the sudden crash that it experienced on the 18th may moving 6 percent up the chart. Its present price is still around $140.
EOS (EOS) was also one of my choices over the week as it went up by 5 percent beating the $14 mark and was sold at about $14.5 over the week. This coin has also been doing very good after joining the top ten a few months ago.
Ripple (XRP) disappointed many analysts that predicted its decrease over the week as it hits 3.6 percent increase. Its present value is about $0.700.
There has also been a total drop of about 10 percent in the crypto markets this week, instead of a boost that was predicted by some analysts, such as Tom Lee of Fundstrat.
As said earlier in this article, the crypto market has been witnessing a lot of fluctuation in the market capacity. Though a lot of analysts has been making possible predictions about the hopeful boost in the market but things seem to be more complicated these days than before and predicting is not easy.
There are many ICOs in the market and there are more cryptos in the market now than before. The performance of the crypto market is also many more complicated factors these days unlike before. All these makes more difficult to predict the performance of the crypto market these days.
However, there have been few good guesses in the past months that we all really benefited from, but what people are asking is if there will be a great boost, when it will be and how long the boost will last. This is a very difficult thing to predict because anything can happen in the next minute. And as a matter of fact, no analyst can predict such good result.
The only thing we know for sure is that there may not be a fall as bad as what we experienced this January.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.