Reflecting on the unpredictability of cryptocurrency market capitalization – Irish Tech …

by David Drake

Note: David Drake is on the advisory board for most of the firms mentioned or quoted in this article.

The cryptocurrency market by its nature is unpredictable and has recently experienced a major downfall. By close of 2017, the value of Bitcoin and Ethereum rose to the highest point with Bitcoin reaching a high of almost $20,000. This high value of Bitcoin caused some countries to introduce cryptocurrency regulations to curb speculation in the industry. This rise, however, has not been the case in 2018.

Trading in digital assets has been below those recorded in 2017 and have deteriorated further in the recent past. The total value of Bitcoin dropped significantly as its price dropped to below the $4,000 mark last month. Its fall has had an adverse effect on the crypto market, triggering a drop in the value of other digital currencies to their lowest point ever.

Key triggers
The cause of the cryptocurrency price crash may be difficult to pinpoint but several factors…