It’s no secret that the Crypto currency market has been on a bearish trend since the start of the year. At the end of last year we predicted that the market would struggle this year with its biggest threat being regulation. But just how much have crypto prices been falling since start of the year – lets have a look at some of the most popular cryptos and compare prices from 31 December 2017 (data taken from coinmarketcap.com):

 

Bitcoin

31 December 17 price – $13,170

6 August 2018 price – $6,950

Price drop by approx 47%

 

Ethereum

31 December 17 price – $721 

6 August 2018 price – $405 

Price drop by approx 44%

 

BITCOIN CASH

31 December 17 price – $2,459

6 August 2018 price – $689

Price drop by approx 72%

 

RIPPLE XRP 

31 December 17 price – $2.12

6 August 2018 price – $0.42

Price drop by approx 80%

 

LITECOIN

31 December 17 price – $220 

6 August 2018 price – $73

Price drop by approx 67%

 

We still believe that the crypto market is at a very early stage and prices will continue to be volatile. Ultimately we remain positive that prices will recover for the cryptos that can show real world benefit and use. We are also of the view that many cryptos offer little to no use and their prices will continue to crumble in the long term.

 

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We are not investment or financial advisors and are here to provide news and our opinions. Please be fully informed regarding the risks and costs associated with trading the financial markets and the Cryptocurrency market, it is one of the riskiest investment forms possible.