We have entered the last quarter of 2018. The valuation has dropped from over $800 billion to around $200 billion. Even though the price has been falling, the cryptocurrency industry has been developing, and the infrastructure is becoming more accessible.
Why has the cryptocurrency market been falling during 2018?
The cryptocurrency market has been tumbling down during 2018 and has stopped around the valuation of $200 million. Even though the market has been falling, it is important to put things in perspective. The price of bitcoin was merely around $800 two years ago which means that we have seen a huge increase in price over the years. We saw a parabolic increase in price during 2017, and it is normal to see the price fall back. Nothing goes only up or down, and we have seen many crashes before. From November 2013 to 14th of January 2015, the market fell 87 per cent, from $1,163 to $152. This crash could prove to be another, and the market might eventually move to way higher valuations if you ask experts in the field.
A few months ago, researchers outlined bullish predictions on bitcoin and other cryptocurrencies and forecasted bitcoin to see a price of $96,000 in the coming five years. The founder of deVere Group, Nigel Green, explained a couple of days ago that the market would grow over 5 000 per cent during the next decade and said that cryptocurrencies are here to stay.
How can you get involved and why should you?
There are many reasons why the price might increase in the years to come. Many financial institutions are entering the market such as the Intercontinental Exchange (ICE), who will launch their platform Bakkt that might go live during December. Fidelity, who is one of the worlds largest financial services provider with over $7,2 trillion in assets are getting into cryptocurrencies. BlackRock and Universities like Yale and Harvard. An ETF is also a very discussed subject that might become a reality during 2019.
It is not always easy to get started in this new market, especially since there are now over 2000 cryptocurrencies, according to Coinmarketcap.com. If you want to learn more about what the future might hold in store for us, and how to get started, you can join a training session on the 8th of November from 7 pm – 8.30 pm (UK time). The webinar will be held by Marcus de Maria, the founder of Your Crypto Club, who also wrote a book on the very subject that you can download here.
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Dennis Sahlström has been trading and investing since 2012 and has for the last two years been consistently profitable. He has been in the crypto- and blockchain space since the middle of 2017 and realized its potential for our world, not least how it is transforming the society we live in. He has now created an education platform, together with the wealth coach Marcus the Maria. They teach regular people how to invest and trade in the cryptocurrency market with proven strategies. If you want to learn more and feel like its time to get into this new asset class, download our free book and register to the next live training to get your future in cryptocurrencies started.