The market capitalization has surprised the overall crypto world by the stability that it has achieved. The market was known to be volatile with random surges and plunges, always worrying the investor community about what would happen next, but the recent trends have shown that the market has stabilized over the market capital of $200 billion and hasn’t been showing much deviation from it.
As shown by the graph above, the market hasn’t deviated much from its valuation since 16th October, maintaining a steady line, which might be a positive sign signalling decrease in volatility while also showing that fraudulent and manipulative activities are being alleviated from crypto.
Previously, at the beginning of 2018, crypto was shaking vigorously in terms of valuation. The random surges and plunges were a subject of excitement for the general public and crypto analysts while it was worrying for the investor community. Neutralizing the sentiment, the crypto analysts, analyzing the facts and momentums, predicted that at the end of 2018, BTC would ultimately hit $50,000. These analysts contained big names like Arthur Hayes and the CNBC host, Ran Neu Ner. He tweeted earlier this year in February,
For the record, I am pinning this tweet. Bitcoin will finish 2018 at $50 000.
— Ran NeuNer (@cryptomanran) February 2, 2018
Although he was firm at his stance till last month, but seeing that the crypto market hasn’t shown much deviations and BTC is standing firm at $6,400 he had to change his prediction, recently tweeting that BTC would probably not go as high as he predicted it would go. Humorously neutralizing his previous tweet, he tweeted again recently,
For the record , I am pinning this tweet. Bitcoin will not finish 2018 at $50 000.😂 https://t.co/CAZUABJ1Hk
— Ran NeuNer (@cryptomanran) November 1, 2018
The market analyst at eToro, Mati Greenspan also agreed to the fact that the market has been pleasantly stable for the past few days. This stability is a huge positive sign for the SEC to consider the approval of the ETF. They were concerned about the fraudulent and manipulative activities being carried out in crypto. the stability would somewhat eliminate the skepticalism which was in the market.
Although the market has shown great growth in terms of eliminating volatility and bringing in liquidity, the analyst Thomas Power thinks that a sink in the valuations is inevitable. The valuations of crypto would fall up to 50% of their initial valuations, across the board. But also sharing his long bull predictions, he told BlockPublisher,
… on course then for $100,000 in 2023, $500,000 in 2025 and $1m in 2038.