Bitcoin Drops From $7,900 to $6,600
The crash of digital currencies in this first quarter of 2018 goes on.
In the past week Cryptocurrency Market saw a drop of $100 billion USD; over the past 24 hours the major cryptos fell down an average of 13%.
Bitcoin with a slump of 12.6 percent decline, reached $6,600 USD from the initial $7,900 USD, levels reached only during 2018 only in the first week of February. The other Cryptos, from Ethereum to Ripple, followed the trend declining by 12%. After the contraction, in March the market seemed to completely recover with a spiking in value to $12,000. Today, after the drop, market showed trend reversal growing in the main Exchanges end cryptocurrency trade platforms, even if trading volumes remain small.
Bitcoin forecast for 2Q 2018
Staying to analysts’ words cryptocurrency market, after this reduction cycle, will recover from 2Q with Bitcoin forecast value to $20,000 USD within 2018. If Western market still don’t need to entrust cryptocurrency market for institutional investment and funds, investors and traders of Asian world require for a stable cryptocurrency market.
When Western institutional money will realize the opportunity of a stabilized market with less volatile cryptos the cryptocurrency world will be able to enter in a maturity phase.