All cryptocurrencies have welcomed year 2018 with a bad start. Even though some people are already panicking, there is still hope for Bitcoin and altcoins. According to several experts, major cryptocurrencies will make significant comebacks during the course of the year. It is critical to have a broad view of the situation.
But there is more to consider other than the Bitcoin price. Sadly, Bitcoin’s worth determines how other cryptocurrencies will fare during the rest of the year. The chances of making huge wealth with cryptocurrencies are very slim this year. Notwithstanding, experts are not too concerned about the present value of the market.
As a matter of fact, one expert noted markets are taking the normal direction of instability at present. BRD CMO and Co-organizer Aaron Lasher remarks: “The game isn’t over, Digital scarcity is a major innovation in money and value, and we’re in the initial stages of a multi-decade trend towards tokenization of assets.”
In the course of recent days, every single cryptocurrency have lost a decent amount of value. The decline went from go from 11.6% to 15.9%, with Ethereum being the worst hit. Moreover, more than 80% of the main 100 cryptos listed by market cap have declined over the past week. However, as usual, Bitcoin is weighing everything down. This pattern will not cease until Bitcoin regains its glory.
This is the point that will make this year interesting. This is not the first occurrence for Bitcoin showing such a pattern. At a certain point, the Bitcoin value declined by just about 99%. Recovering from that drop indicates that things will be easier. Thus, the present decline is not such a big issue. Bitcoin and other cryptocurrencies are still in their early stage of the year.
Bitcoin is going through various things presently. The introduction of Exchange Traded Funds (ETFs) makes it possible for institutional investors to make predictions on cryptocurrencies. In spite of the fact that demands remain relatively low at the moment, things are moving forward.
On the subject of regulations, Bitcoin is still a major topic of discussion among governments. Any new regulation will legitimize the overall cryptocurrency industry. But not everyone fancy this idea but it is a “necessary evil”, to boost the currency in the future.