A little over a year ago, the market capitalization for the whole cryptocurrency industry exceeded $ 800 billion, but has since fell more than 80 percent. Today the figure is 141 billion. Such a protracted bear market received a separate term “Kriptonika”. The blockchain-an investment Fund of San Francisco Pantera Capital published a study in which the price of Bitcoin 2013 is compared with the price of 2017 based on actual and anticipated performance. As stated in the report of the Fund, despite the significant drop in prices, the fundamentals of the major cryptocurrencies have continued to grow.
In 2013, the first Bitcoin climbed above $ 1000 dollars but already in the following year was slightly more than 300 dollars. Remarkably, the cycle is also marked cryptoimage. Says CEO of Pantera Capital Dan Morehead, the first kryptonia he was worried a lot stronger, as it was the first test of the blockchain. But the technology survived, and based on her currency in subsequent years only grew in price.
As for the current bear market, but now the fundamentals and features of cryptocurrency is much stronger than it was during cryptogamy 2014-2015.
And according to Morehead, this trend is primarily due to the growth of institutional interest in the cryptocurrency. We will remind, this year needs to be running platform for trading digital assets Bakkt from the NYSE and ICE, and Fidelity is going to run custodial services. Recently JP Morgan has released its own cryptocurrency backed by dollar.
People been saying for years about the coming wave of institutional money. I think the spaces are there the necessary conditions for this.
More data look at cryptodata. The current rate of coins can be found in our classroom ranking of cryptocurrencies.
Subscribe to our channel in the Telegram. Here soon!