The rates of cryptocurrencies continue to fall down. The price of Bitcoin today (12/12/2018) is $3458, despite the words of many crypto investors, opinion leaders and industry influencers about the skyrocket numbers for the end of the year.
The Fundstrat Global Advisors co-founder Tom Lee believed till the end of the year 1BTC will cost $25 000.
Now he says:
“Days like this, it does make me wonder about my prediction. This past few days has definitely been a negative development.”
Ronnie Moas founder of Standpoint Research predicted another thing:
Bitcoin price could hit $50,000 in a few years.
Later on he claimed that the total value of all cryptographic assets will soar to $2 trillion over the next 10 years.
Michael Novogratz former Fortress hedge fund manager also said that Bitcoin can multiply more than four times till the end of 2018:
“Bitcoin could be at $40,000 at the end of 2018. It easily could. Ethereum, which I think just touched $500 or is getting close, could be triple where it is as well.”
Afterward, at the Economist Finance Disrupted conference in 2018, he added:
“I don’t think it breaks $9,000 this year”.
November was a really hard thing to understand when it came to the crypto world, a lot of crypto owners just lost the plot.
The average Market Cap of cryptocurrencies decreased by 14% and was $180 million, while on the start of a month it was $210 million.
The tendency continues in December.
A lot of HODLers and crypto-traders feel FUD about the future of crypto.
Read more: What does HODL mean?
News platforms just warm up the negative connotation of the going-on things and blind people with science.
But we advise you not to worry, keep calm and believe that all the prices will rise again and become even higher than in December 2017.
All you need to do now is to understand the reasons for the crypto crash, thus to be aware of future drop downs, and to never miss a trick.
Here are the reasons for Bitcoin crash:
The first one, and the most crucial to our opinion, the hard fork of Bitcoin Cash network on November 15, 2018.
The update of the number 4 by Market Cap cryptocurrency caused a split in the crypto community and forced two competing versions — Bitcoin ABC and Bitcoin SV.
Founder and CEO of cryptocurrency investment firm BKCM Brian Kelly said that the crypto market is experiencing a “crypto civil war” as the announced “hard fork” in Bitcoin Cash failed to gain consensus among peers in the community.
After that a lot of crypto owners decided to make an exit, thus a lot of crypto listings started to fall down.
However, the hard fork of Bitcoin Cash is not the only one reason of Bitcoin and crypto market crash.
Continue to read in our blog:
