Bitcoin is currently down over 25% since the past week and it is looking equally as dark across the rest of the market. Now people are really starting to question whether the market will ever rebound or if this is indeed the end.
It is no secret that the cryptocurrency market has struggled a lot during the first quarter of 2018. To some, the further cryptocurrency prices fall the more unlikely it seems that market will ever rebound. And people are seriously starting to consider that the market might be collapsing.
As of early Friday, Bitcoin sold for $6,900 and Ethereum was down to $390. Additionally, Ripple is down a lot and if we look at the past quarter, there is no doubt that Ripple has done the worst being down over 50% year to date.
But even though it seems like the market is collapsing, it’s not necessarily true. We have to take in to account that the market experienced an unprecedented growth at the end of last year and that it is still correcting to a more stable growth pattern. Also, a market that’s up over the past 6 months is not collapsing. In fact, many analysts and experts agree that the cryptocurrency market will turn for the better in the second quarter although we shouldn’t expect the same kind of short-term growth.