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Market’s Third Day of Stability, No Signs of Red

For the past few months, the market has been experiencing horrid ups and downs due to the volatility, the currencies have experienced huge plunges and spikes while the volatility trip continued. The crypto market overall has been struggling to resist falling below $200 billion for a while now while the volatility keeps dragging down the valuation near to the said mark. Although the factors and variables that affect volatility haven’t changed for the past few days, the market still managed to stabilize itself over $210 billion. According to the info-graphics of coin360,

BTC has once again maintained its peg to $6,400 while ETH and BCH and XRP are also back in the game with positive growth factors while XRP still stands out with its valuation increase for the past few months. Its market cap is also increasing, approaching that of ETH.

A few days back, talking to BlockPublisher, Jameson Lopp presented his views relating to the problem of volatility. According to him the way around the problem was adoption and utility of tokens into real life scenarios. He stated,

It’s not something that can be guaranteed, but rather will have to work itself out. If it grows to a similar level of adoption as other common stores of value, I expect the volatility will be similar to what you see between common stores of value today.

Upon asking if the BTC ETF would have any effect on the volatility and would improve the market situation. Jameson Lopp said,

That may help though I seriously doubt that it will significantly reduce volatility on its own.

It is still hard to say when the adoption will happen, Thomas Power thinks that it would take a few years till that happens. Till then, the market would once plunge to half the valuation across the board. 50% plunge is expected in all the currencies’ valuation, BTC would plunge to $3,000 while ETH would fall to $100 and XRP would plunge to $0.25 according to Thomas.

Once the market falls to the value falls it would be once again on a surge spree, Thomas stated relating to this talking to BlockPublisher,

… on course then for $100,000 in 2023, $500,000 in 2025 and $1m in 2038.

Shehryar Hasan

Performing artist, guitarist and sub-editor at BlockPublisher. Shehryar is an electrical engineer and blockchain enthusiast. He holds investments in bitcoin, ethereum, OST, TRX and Ripple. Email: shehryar@blockpublisher.com or contact the editor at editor.news@blockpublisher.com

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