It seems as if though the cryptocurrency market just can’t catch a break right now. Following some bullish momentum that saw the price of Bitcoin scale up above the $4,300 mark, the market at large has once again dipped, causing BTC to float just above the $4,000 threshold.
Ian Mcleod: “Ethereum Will See Upward Monetary Movement All Though 2019”
While a lot of people are skeptical about the financial future of Ether (especially since the currency has lost more than 80% of its value since the start of the year), well-known crypto expert, Ian Mcleod, has recently come forth and said that moving into 2019, ETH is all set to experience positive financial movement.
In this regard, he added:
‘I maintain that we can expect Ethereum to hit $500 by the end of 2018 and go on an overall upward trajectory throughout 2019. We can expect Bitcoin to lose 50% of its cryptocurrency market share to Ethereum, within five years.‘
Crypto Market Loses $12 Billion Over the Weekend
Over the course of the past 24 hours, the global crypto space has lost around $12 billion of its total market worth (with the overall cap now standing at a measly $130.5 Bln). This drop was witnessed as soon as Bitcoin started to lose value before eventually settling down around a price point of $4026.0 (at press time).
CoinCorner CEO: “November Bloodbath is of No Real Concern”
While the global investor community at large is panic-stricken following the recent crypto bear attack, there are those who view this domain with a more wide-eyed lens. For example, when being interviewed recently, Danny Scott, the co-founder and CEO of crypto exchange and wallet provider CoinCorner, said that based on internal data and statistical info that he had gathered over the past few years, he is confident that the market will rebound within the coming 6-12 months.
Not only that, Scott also jokingly added that if today’s “so-called” finance experts are to be believed, Bitcoin has “already died more than 300 times”.
In regards to the matter he closed out his conversation by adding:
“We’re not concerned about Bitcoin’s price plummet this month. If we look back over Bitcoin’s short 10-year history, it has experienced many price fluctuations – something that is to be expected given that the industry is still very young. For example, in 2013 we saw the price drop 49.88 percent in just 14 days, which is a bigger drop than the one we have experienced over these last two weeks.”