2017 was indeed a remarkable year for digital currency investors. Last year started with a general market capitalization of just $17.7 bln, and by the end of the year, the total market cap of all digital currencies summed up to $613 billion, indicating an increase of over 3,300 percent in the general market cap.
It is without a doubt that last year was the most outstanding year for the history of any digital currency. Here are some of the top predictions for the crypto market and some leading digital currencies this year.
The Total Market Cap of the Crypto Market Will Go Down
This year, investors in Wall Street placed downside and upside bets on the most valuable digital currencies in the world. Goldman Sachs is set to set up a trading platform to operate bitcoin futures according to reports, and this would enable investors to make money to the downside. In other words, the crypto market cap might reduce by the end of this year.
The Value of Bitcoin Might Drop
Between January and February this year, the value of bitcoin declined to about $6k, and this was less than 50 percent of its value at the beginning of 2017 when it was trading at $14,156. Investors in the crypto sphere are expecting this to happen again by the end of this year. This could be triggered by increased regulations in South Korea and in the US – which are the key markets of Bitcoin.
Another Digital Currency Might Outdo the Market Cap of Bitcoin
This is likely to be Ethereum (ETH) which his second to bitcoin based on market cap. The Enterprise Ethereum Alliance is presently the biggest open-source distributed ledger technology initiative in the world, having more than 500 organizations.
It has members from different sectors and industries that are testing the blockchain of Ethereum with its customizable smart contracts. All these factors may contribute to Ethereum surpassing the market cap of bitcoin.