Cryptocurrency had set a striking record in 2017. The main cryptocurrency values, especially Bitcoin, Ethereum, and Ripple skyrocketed so high that those who have invested in them previously felt at the top of the world and those who did not feel they had missed out. On December 17, 2017, the value of Bitcoin has risen to the highest level of all time ($ 19,850) as well as several other major cryptocurrency.
Some warnings are given about why people should avoid investing in cryptocurrency on the grounds of market volatility.
However, 2018 is not a good year for the market so far. After reaching an 834 billion valuation on January 7, 2018, CoinMarketCap reported that the market witnessed a drastic decline of around 66%, losing more than 553 billion. Bitcoin posted a big loss of more than 50% in February, with ratings down below $ 7,000. Ethereum and Ripple also experienced a similar decline, both of them recorded losses of more than 40% during the same month. This plunge has made many people panic. Could this be where the bubble broke? Is this what so many experts warn? Do we see the end of the cryptocurrency?
“The previous market was obviously too hot,” said Miko Matsumura, one of the founders of Evercoin. “The only fear on the market is the fear of being left behind.” This speculation made many people rush into the market, resulting in price inflation. However, he believes that the market is currently stable, which is the reason for plunging.
"I think there are a number of people in a panic situation, which is very unfortunate, but for every new person who panics, there are a number of people who are comfortable with 50% drops and more who hold or see it. as a buying opportunity. "Matsumura believes this can also be a window of opportunity for future profits.
Therefore, there is a need for appropriate market regulation. According to Thomas Glucksman of Gatecoin, “Increasing recognition of cryptocurrency exchange regulations, the entrance of institutional capital and major technological developments will contribute to the market rebound and push the price of currency cryptocurrencies to all new highs this year.”
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