Will Bitcoin recover? Will Ripple recover?
CRYPTOCURRENCY markets a little devastating battle this morning as bitcoin, Ethereum and Ripple all took a massive fall in prices in a chokkrasj. But will the bitcoin regain and will ripple recover after such dramatic fall?
Bitcoin has now drove over half of its value since the $ 20k high recorded on January 18th and declined to $ 7.694 this morning.
Ripple fell to $ 0.65, as the XRP dropped back to prices that had not been seen since the dramatic rise in December.
The three-month Ripple graph below emphasizes the extent of Ripples recent decline - and reveals that the crypto curve has not been evaluated so low since Christmas.
While Ethereum dropped below $ 1,000 to $ 782 in the press and a decrease of $ 319 (27 percent) from yesterday's height of $ 1,151.
Will Bitcoin recover? Will Ripple recover?
Ran Neu Ner, the founder of ONchain Capital, suggested BTC could reach highs of $20,000 again in 2018.
He said he was confident that bitcoin would regain its sky-high prices this year, arguing that it is in the cryptocurrency’s nature to be volatile.
Speaking to CNBC, he said: “Yeah but bitcoin goes up, bitcoin goes down, bitcoin goes up and down very quickly.
“If you recall a few months ago we were sitting right here and bitcoin was under $8,000.
“It shot up to $20,000 in less than two weeks so this is nothing new.
“We’ve seen bitcoin go up and we’ve seen bitcoin go down, we’ve seen it go down 50 percent at a time.
“But it’s quite a resilient currency, commodity asset that just keeps going up afterwards.”
Will Ripple recover from price crash?
Right Side anchor and reporter Steve Lookner tweeted this morning: “Ripple is the third-biggest cryptocurrency. It has lost 18 percent of its value in 24 hours.
“It has lost 74 percent of its value since early January. Ripple investors have lost, on paper, $290 million in 24 hours.”
The crash came after a blockchain startup suffered a costly hack attack when home sharing startup BeeToken was hit by a phishing dupe.
Parity Technologies is trying to bounce back and recoup $160 million (£112 million) after a novice developer accidentally froze the funds so no-one could access them.
Trevor Koverko, CEO of blockchain platform Polymath, suggested it may not be all doom and gloom as investrors are backing Ripple because they trust the brand.
He told Forbes: "People feel comfortable with its name and the technology behind Ripple.
"A lot of people are beginning to realise how big of an opportunity there is between business and the blockchain...and that's making Ripple the early winner here."
Read more: express.co.uk
I trust on bitcoin it will recover soon 🙂
What goes down will definitely go up. Time is the factor here. This crypto world has just digested one big blow from India's Union Budget 2018 which was presented on 01-02-2018. After that, the big fall was experienced.
Don't forget about Vertcoin!
😁
This is how long your suppose to wait to buy an actual DIP! I woke up to litecoin really low and I bout a ton. 2x within a month or 2!
I’m not trying to be nasty—I’m hoping to save you some money and increase your overall ROI long term.
But what I think you mean is that “What goes down might go up.”
There are lots of coins, stocks, commodities, and other investments that go down and stay down. It may even be that most investments that go down, stay down, and never go back up, if you include all investments in which the underlying thing of value simply failed and disappeared.
We just don’t tend to psychologically include those failures in our mental calculations, because those assets and investments are long gone and forgotten.
Similarly, lots of assets and ideas that lose value only to eventually fully recover, will experience that recovery long after we’re gone. Which means that for a person holding an asset currently, the eventua long-term success after their death is really not much consolation unless they conclusively were investing with the main purpose of potentially, someday, benefiting their children and grandchildren (and for that you can get just as good returns with much lower risk through more traditional investment vehicles paying dividends that you always reinvest and let the compounding dividends work over 30-100 years or so.)
I could absolutely not care less about the price action of crypto (I’m involved in crypto for ideological reasons, I’m very happy with my financial situation which doesn’t relate in anyway to the price of any crypto, up or down. I’d be happy at any price that is stabilized).
But assuming you care about crypto prices and investing successfully, this would be a better way of looking at things
The amount of people in crypto now is so small compared to what it will be in the future, I have no doubt whatsoever that the prices will recover and excel over the coming months and years.
I read somewhere that less than 1% of the population own a cryptocurrency.
Where are the advantages of Vertcoin, now that BTC has lightning? @mikefromtheuk
That was the number thrown about before Christmas but I imagine with the influx of new users it has increased a bit since then, although how many of the news guys are running for the hills now will also have an effect lol .
yeah i think ripple will recover :) may be xrp will go 5$ because this coin has huge volume.. as always i like your artical :) keep it up :) @tradewonk
Hopefully :-)
Ripple is a banksters coin with 6 nodes only in the world, pumped and dumped for bankers profits. It will never survive, it is hated on reddit, twitter...
Good luck: eating Bitcoin, drinking Bitcoin, putting Bitcoin into your car's engine, etc etc etc.... oh... it's fiat what we pay these days for products and services.... oh, this discussion is about Ripple, and banks, ok I dont like them, but it is not about what I like or not, it is about what market does, and which way the evolution develops.
But the banks are the big players according to investing, that's why ripple in my opinion is a good investment.
Nice post.this is realy good post.good work.
Thank you
Well come.
Plz upvote me.
Is it just me that thinks that the only way that question could be answered correctly is after the G20 summit holding March in Argentina?
Research on it. It's scary
Bitcoin will rise again we just need to wait for it to pop. Just keep holdng on. :')
That type of strong correction was due, long time ago due.
Any predictions or trying to explain: "why the market was falling" is absolute nonsense.
Bitcoin will be rise again that my trust but good to know about those.