Cryptocurrency is one thing that has successfully seek the attention of the audience. Seeing the current scenario, the end of cryptocurrency is something an unpredictable conclusion. Even though a number of rumours are flying through the market, and a bunch of negative news have been there about cryptocurrencies, still it is the high time to start a search for other opportunities in the crypto market.
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 though that could bring a smile on crypto=enthusiastic people is that the total coin market capitalization surpasses that of Berkshire Hathaway Inc. and Facebook Stagnant at $528 and $509 respectively. Moreover, more than $250B was flushed during a correction in printed losses of Ripple whose market cap now sum 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
Like other crypto coins, the degradation is also associated with bitcoin as well. There were 21M bitcoins, 4M of those are lost more than 80% of them are mined. 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 going through both the scenarios the only conclusion one can make is that no one can predict the future of the crypto market. Both rise and fall of the market cap are so immediate which makes it is hard to be judged.