In oppose to the end of 2017 and the beginning of 2018, the cryptocurrency market took a downtrend starting with a frequent trend of picking up dips since February 2018.
The trend took a greater toll from May of the same year when the majority of currencies drifted heavily from their record prices, deeming the year 2018 as the year of dips for the crypto market.
However, what is interesting is that the despite losing almost -90% of the total value of the market, the cryptocurrencies are still worth hundreds of billions of dollars, with Bitcoin alone holding over 111 billion dollars in its marketplace.
List of All Cryptocurrencies
Price 24H (%) -0.12% -0.13% -2.41% 0.24% -0.55% 0.16% -1.72% 0.12% -4.43% 1.02% 0.13% -1.15% 0.14% -0.82% -5.01% 2.36% 11.04% -3.69% -0.85% 0.01% -1.58% -0.80% -1.02% 2.13% -0.32% -0.05% 0.92% 0.12% -0.01% -0.60%
This is only a single from several indicators that dictate that the cryptocurrency will rally this year.
Will the market embrace a more positive trend towards the end of 2018 and will cryptocurrency rally this year 2018?
Will the Crypto Market Rally This Year of 2018?
Back at the end of 2017, the total value of the crypto market skyrocketed towards a heavyweight category of around 800 billion dollars in total net worth. However, the bubble soon burst, leaving the market ravaged by -90% of the decline.
Moreover, despite the negative market trends that seem to have become rather comfortable among the overall trends among the digital asset, the cryptocurrencies have seen major integrations, investments, and partnerships.
This all revealed the true value of genuine and legitimate cryptocurrencies, leading the market towards the mainstream waters and heading towards mass adoption.
Litecoin (LTC) even made it to Facebook Messenger, enabling fast and prompt payments, VeChain (VET) is scoring major partnerships across various industries across the globe, and IOTA (MIOTA) and Volkswagen are expecting their first product to be officially released at the beginning of 2019.
These are only a few of the examples regarding the adoption of cryptocurrencies, and precisely these cases are making the market more stable.
Although Bitcoin, for instance, dipped from 20,000$ to 6,440$, BTC is keeping its volatility between the values of 6,000$ and 8,000$ almost at all times, less likely to get below the initial value of 6k per one unit.
In the spirit of the last year’s rally at the end of 2017 and the beginning of 2018, many analysts and enthusiasts are predicting the cryptocurrency market to rally right at the end of 2018, in December.
Can Cryptocurrency Market Rally by the End of December 2018?
This trend is expected to be seen based on the momentum the majority of currencies have taken over at the same time around the last year of 2017.
Based on the current state of the market, when the majority of top cryptos are bouncing back up against the fiat, with Ethereum breaking the resistance of 210$ towards 213$ for the first time in a while, the crypto market could as well rally by the end of December 2018.
There is always the “hype” factor as well, and as recorded during the previous years in the crypto market, the trading volumes are almost commonly increased during the end and the beginning of a new year.
This is how the crypto market still has a chance to skyrocket in the attempt of recollecting at least some of the lost value by the end of 2018.