Volatility has been linked with the world of cryptos since the beginning. One day the market is seen going up and the very next, it is down in the dust. Just recently we saw the crypto market lift up a little bit as bitcoin (BTC) crossed the $4K mark with ethereum (ETH) recovering itself above the $150 level. This recovery by ETH was being seen in the hindsight of the massive drop that it saw as it reached down in the trenches below the $100 mark.
But after passing through a slight period of recovery, the crypto market is again bottoming. Major reds are being shown by some of the major players in the game. At the time of writing, bitcoin is roaming around the $3,827 mark with a drop of 5.67% in the past 24 hours. Ethereum (ETH) is standing around $134, dropping down by %11.94, and XRP is floating around $0.348 after stumbling by 5.73% in the past 24 hours, as per www.coinmarketcap.
In order to get a word regarding this market drop from someone involved in the game of cryptos, BlockPublisher got in touch with the Senior Market Analyst of eToro and a well-renowned name in the crypto game, Mati Greenspan. Upon being asked regarding any remark that he might like to put out amidst this drop, Mati said:
Looks like we’ve reversed Sunday’s surge.
Sunday’s surge is not seemingly being countered. Volatility has become an intrinsic property of the crypto world now. Billions of dollars move in and out of the market in a matter of minutes. Owing to the drastic drops that are seen, many investors lose a large amount of money in a very short interval of time. This is one of the major issues associated with the world of cryptocurrencies. Official acceptance has been relatively on the lower side owing to these issues like volatility. If this market is to develop and gain more mainstream adoption, this issue needs to be solved as soon as possible.
Volatility is also one of the reasons why people usually hold back from using cryptocurrencies to carry out payment activities. Price spikes and plunges rapidly, so it becomes almost natural to not use cryptos as currencies. As we move forward into 2019, different predictions and speculation regarding the prices are being by various experts in the game. Yet nobody knows for sure. Anything can happen. Let’s see where does the market head as we move forward.