The digital currency market has been under the influence of the bear trend. Many enthusiasts have been asking “will crypto ever recover?” An analyst in the crypto space also tagged the turmoil in the market “Crypto-winter.” There was an enormous Bitcoin bull run and other crypto bull run in December 2017. Bitcoin price surge to almost $20,000. The value of other digital currencies also surged massively. The massive increase in Bitcoin price also resulted in several bullish Bitcoin price prediction. Many analysts believed there would be more Bitcoin bull runs in 2018, so many of them gave their versions of Bitcoin price prediction.
Will crypto ever recover?
However, the market didn’t go as planned. The digital currency market plunged heavily. Some digital currency even lost as much as 90 percent of their values all through the year. Bitcoin price plunged by over 80 percent from its all-time high in December 2017. Many blamed the plunge in the market to the lack of developments and interest in the space by digital asset investors.
However, that seems to be changing as interest in the cryptocurrency space is now on the rise. More firms and institutions are beginning to see the numerous benefits of blockchain technology and digital currencies. A lot of digital asset investors are now investing in digital currencies.
The Cryptocurrency Market Welcomes a New Investment of $275 Million
There is a rejuvenation of interest in the digital currency space by financial institutions. While many financial institutions and digital asset investors were on the fence last year, many of them are beginning to get involved fully. Recently, two major funds – XRP Capital and Pantera Capital – announced expanding the digital currency space with a huge investment. The firms are finalizing an investment of $275 million in funds that they raised from investors.
The last bear market stopped a lot of investors from operating in the digital currency space. The massive plunge in interest and activity in the market can be seen in Google Trends. This means that Bitcoin interest dropped from its highest point. While many firms stopped operations, some others are still in the space.
The most profitable firms and those funded by larger firms did not stop operating. Obviously, funds invested in digital currency projects plummeted significantly. However, the most competitive ones continue to get huge amounts of funding from other firms.
Pantera Capital Has Survived the Crypto-Winter
Pantera Capital is one of the few firms that continued with operations amidst the bear market last year. The firm was able to manage its billion-dollar fund and also raised hundreds of millions of dollars. There are still a lot of quality projects in the crypto space, and digital asset investors are still bullish about them.
At the moment, the digital currency market is yet to return to its previous highs, but it is gradually recovering. Will bitcoin recover in the short-term? While many are waiting for the next bitcoin bull run and the Bitcoin price predictions 2019, no one knows when such events will take place.
Bitcoin (BTC) Price Today – BTC / USD
At the time of writing, according to CoinMarketCap, Bitcoin (BTC) is changing hands at $4,070 after an increase of about two percent over the past twenty-four hours. The current market cap of the digital currency is $71.25 billion. The trading volume of the digital currency over the past twenty-four hours is $15.60 billion.
Will crypto ever recover? Share your thoughts below.