Crypto Predictions 2018: The Cryptocurrency Market is Falling

Crypto money markets continue to decline. While all of the top 10 coins were depreciated according to Coin Market Cap data, especially Cardano (ADA) and Bitcoin Cash (BCH) have experienced a depreciation of almost 30 percent within the last week.

The situation on the Bitcoin side of the business is not at all innocent. Bitcoin, which investors have been looking for an ascent since the end of December, has suffered a depreciation of about 35 percent over the past month, even though it has experienced periodic increases . The price of Bitcoin, which came close to 10 thousand dollars on May 6 , has suffered a serious decline after that and it is currently trading at 7,250 dollars .

Bitcoin price chart

Things do not go as expected in Ethereum. In the week we left behind, the Etherum, which is one of the underdogs that have suffered serious depreciation like Cardano and Bitcoin Cash, is now down to $ 533 .

Ethereum price chart

The total volumes of the markets do not give much hope. According to Coin Market Cap data, the total amount of money in the crypto money market, which has lost about 85 billion dollars in value in the last 30 days , is 313 billion dollars as of now.

Total market capitalization chart

Cardano (ADA), the most difficult of the top 10 coins, has suffered a very serious decline in the last 7 days and is currently trading at $ 0.18 .

It is not possible at this stage to draw a very hopeful picture for Bitcoin Cash. This week, 26 percent of the value of the loss of BCH, is currently trading at 934 dollars .

Crypto does not have to be an ultra-well-trained analyst to say that money markets are on the declining trend. However, although the decline in the currencies is such a sign of disrespect, various developments are not happening either. Particularly Seg Wit and the processor power are experiencing serious increases. These beautiful developments in the bitcoin network are also reflected in the technical figures.

Finally, according to the information obtained from the site called Bit Info Charts on May 27, the average CPU power of the Bitcoin network is about 35.75 PH / s.

Bitcoin Hashrate historical chart

Of course, what you need to look for in such a hypothetical situation is that it depends on your perspective. For people entering the market in December, there is a serious loss of portfolio especially in various sub-coins; The situation for Bitcoin is not very bright either. Ran NeuNer, CNBC’s Cryptotrader named program partner, blending two different perspectives , said Bitcoin prices fell 50 percent this year , but 7 percent more than 1 January 2017 .

Disclaimer: The information on this site is provided for discussion purposes only, and should not be misconstrued as investment advice. Under no circumstances does this information represent a recommendation to buy or sell securities.
Aamir Kapoor is a fintech writer specializing in cryptocurrency and blockchain. He has a background in finance and banking and was a researcher.