Is It Good Time to Invest? Crypto Market Cap Reaches $400 Billion. The market cap of all the crypto currencies has passed the mark of $400 billion on Thursday after a steady growth of all the top 10 digital currencies over the week. This is good news for the traders who were only hearing bad news about the revolutionary currencies. The last ten days have been encouraging in terms of growth in the value of these coins which resultantly added $100 to the market cap in just one month.
Market seems to reward the traders
Trend has been reversed and the downtrend is at pause for a moment. As we also heard from the financial experts that crypto currencies have reached to its lowest point and the next two quarters will benefit the traders. This is the right time for the traders to jump into the market who were waiting to join for long time.
CEO of Pantera Capital Commented in December 2017: “Bitcoin could be down 50% next week (in fact it happened)… where it was a month ago, but in a year, it will be much higher than it is today”
How the Top Digital Currencies are Performing
Let’s talk about the Bitcoin first, as we speak, its value has reached $9200. To talk specifically about the volume of growth, it has recovered from $6900 in just seven weeks’ time. We must keep in mind that it has been predicted to reach $25000 in this month.
Is It Good Time to Invest? Crypto Market Cap Reaches $400 Billion
Similarly Ethereum reached at $638,21 and Ripple at $0.8739 and BitcoinCash at $1,419. The market has witnessed a significant growth in the value of other top currencies such as EOS, Litecoin, Cardano, NEO, Stellar and MIOTA. The trend has been set to benefit the investors with 80% of the top digital coins are growing steadily over the week or so.
Please read our blog: Bitcoin price to reach $25000 by December, 2018, predicts market king Thomas Lee
Coinmarketcap has reported that the trading volume has crossed $200m in just 24 hours worldwide. Dash has exceeded $70 and Monero at $18 presently. Namecoin has witnessed a rise of 135% while peercoin of 40% in a matter of hours.
Reason Behind the Recovery of Crypto Market Cap
There could be so many factors but we cannot take the credit from the Muslim Factor. The FATWA from a Muslim scholar that crypto trading is legitimate and halal in Islam has given it a sudden rise which seems to gain a steady momentum to show a sustainability.
Please read our blog: After a Fatwa, Bitcoin price witnesses explosive growth (https://informationistan.com/after-a-fatwa-bitcoin-witnesses-an-explosive-growth-of-1000-in-just-30-min/)
Previously, it has faced a series of bans from regulatory bodies and financial institutions of several governments resulting in putting the investors and the exchanges at the backfoot. Facebook, Twitter and LinkedIn also put restrictions on advertising crypto currencies which was a big blow for the market.
Despite the hard times, the market has somehow started showing positive signs which will encourage the traders to start trading regulatory. We are foreseeing a steady growth once more traders join in and start circulating the coins over the exchanges. The market cap has significantly recovered so as the value of the currencies. The struggle seems to be over and analysts are optimistic about its future but we need to keep a vigilant eye on what is happening around us
Read Also: Why Over-the-Counter Crypto Exchanges are Thriving in Banned Jurisdictions
