Cryptocurrency has never failed to grab eyeballs from varied audiences.Although a number of rumours have plagued the market, the enthusiasm hasn’t faded as yet. With increased urgency and growing enthusiasts, it is the right time to carve new opportunities in the crypto world.
Bitcoin Gold pushed back to 15 which was earlier in the top 10 cryptocurrencies. This shift was seen when it reached $2B from $3.2B. The general altcoin started late on January 15, 2018, and thus most coins suffered a decline losing more than 50% of their value. Consequently, the market share deteriorated to 1.86% complemented by the $10.2B market cap.
The market capitalization of Bitcoin fall to $190B which is 35% of the entire crypto market cap of $570B. The only relief bringing a smile on crypto enthusiasts was the total coin market capitalization surpassing Berkshire Hathaway Inc. and Facebook Stagnant at $528 and $509 respectively. Moreover, more than $250B flushed during a correction resulting in printed losses of Ripple whose market cap summed up at $56B. IOTA also appears to follow a similar path with Machine Economy and Internet of Things scraping more than $4B before it finds a support of $7B on January 15.
Irrespective of a drop in trading volumes in Japan and South Korea, IOTA is capable to recover from altcoins and it would surely be a facilitator soon. With a market cap of around $8B and a market share of 1.42%, there exist some possibilities.
Bitcoin Supper Rally
CoinBase and Bitstamp released a data which shows that the user base of Bitcoin keeps on increasing by 100K per day. The price graph and valuation of bitcoin varied regularly from a market capitalization of $71.2B on October 1, 2017. The capitalization was at the peak $320.8B on December 20, 2017.
The Ripple Boom
In Q2 2017, Ripple XRP was available at $0.03 with a market cap of around $9B. Around after 10 months, it became the third largest cryptocurrency of the world with a market cap of $58B. The trading value of each coin is $1.5B which is a 4900% rise in the value. Thus Ripple very quickly outreached the bitcoin and ethereum over the same time period.
Thus after analysing both the scenarios the only conclusion that can be drawn is that no one can accurately predict the future of the crypto market.The rise and fall of the market cap is a universal truth obfuscating the trends.