Cryptocurrency Outlook Through a Volatile Time

by 99Crypto

At the beginning of 2018, the cryptocurrency market cap hovered near 1 trillion USD. However, the mid-point of this year tells quite a different story. The market cap has remained under $300 billion for most of June. Investors with substantial stakes are beginning to worry. They are wondering when will the market bottom out. Also, new investors are hesitant to enter the industry. Hope is not lost though. New ICOs continue to enter the market. Blockchain development is also ongoing. Most investors know that the cryptocurrency market is a volatile industry and can drastically change in an instant. Many are expecting a price rally before the end of the year. Cryptocurrencies have shown a tendency for such a bullish market. Obviously, last year exceeded anyone’s expectation. Positive Outlook It would not be shocking for Bitcoin to regain its early year price level. While Bitcoin fell below 6,000 on June 24th, returning to its high would be much less momentous than the 2017 bull market. Similar, Ethereum has remained in a position that indicates a bullish trend. However, if its price does begin to fall, it could near $350. Uncertain Futures There is a bit of a waiting game when it comes to the Bitcoin Cash price. Bulls are expecting it to join Bitcoin and Ethereum rallies, but if Bitcoin Cash falls in the coming days, it could extend to a 10% loss. Another near-term outlook is EOS, the new kid on the block. It is pulling back on major gains. An overall market rally could help EOS recover, but an uncertain near-term may keep it down. Stellar has fluctuated. It anticipates a recovery, especially with a stronger market. Similarly, Iota has shown some positives signs but it is more volatile and risky than Stellar. Tron garners less interest, but it does show signs of being somewhat stable. Lacking Confidence Ripple, Litecoin, and Cardano appear vulnerable. Litecoin’s future appears more uncertain than Ripple. Both likely will recover with a stronger market. Cardano, on the other hand, seems to have lost significant investor confidence.