According to coinmarketcap, Bitcoin is now valued the volume of $66,550,138,369, trading with a fall of 10.09% in price during the last 24hrs. Consequently, Bitcoin is trading at the value of $3815 as per the data from coinmarketcap at the time of reporting.
The market which was quite encouraging yesterday is screening the scarlet today. Following Bitcoin’s crash from $4200 yesterday to below $3800 today, XRP has also lost 13.21% of its value during the last 24hrs. Moreover, the other major cryptocurrencies including Ethereum, Bitcoin Cash, EOS, Stellar has also missed the volume of 12.58%, 24.38%, 14.52%, and 11.79% respectively. In this red zone, Tether is quite impressive with value upsurge of 0.22% today.
Expert’s Prediction – And Bitcoin Price
Andrey Alekhin, CEO of blockchain art firm Snark.art talks about the declining figures of major cryptocurrencies. He said that;
“I don’t think this is the end of a [downward] trend. At least not yet,” he continued that; “As a result of a steady decline in the crypto markets, many blockchain startups have been cutting down their activity or even leaving the market entirely. Startups liquidating their positions in crypto to survive will continue for some time, as will the bear market [in which share prices are falling].”
Despite the regular crash, analysts and major industry leaders are eyeing on the potential of its future.
As such, coingape reported Binance CEO Changpeng Zhao to talk confidently on the future of blockchain technology despite his own assets are down. Additionally, Galaxy Digital’s Novogratz has also discussed with Bloomberg stating that he doesn’t expect the price of Bitcoin to drop a much further. Moreover, he predicted the next value of Bitcoin within the figure of $3000 $6000.
Nevertheless, the other analyst David Thomas who is the director and co-founder of London-based crypto broker GlobalBloc called 2018 as the ‘frankly dreadful’ year for the crypto market.
Do you think Bitcoin will re-enter the market with new force in the coming year? What’s your prediction? Let’s discuss.
Christmas Eve Ditched Bitcoin in $3000 Figure Again
2018 haven’t been the best for the crypto market. The price of Bitcoin which was flourishing in last year has bottom below $4000 again at press time today. According to coinmarket cap, Bitcoin is now valued the volume of $66,550,138,369, trading with a negative graph of 10.09% during 24hrs.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.