Hey guys i am new here where do you see market cap by the end of the year , last year was amazing for me was expecting something similar but so far not even after Consesus market is not pumping !!!! any ideas ?? share your thoughts please!!!
Predictions until End of the Year
Welcome @giveittome55 , I'm certainly no expert, so will have to guess like anybody else. But I don't expect to see the same highs anytime soon.
This is because I think what happened there with Bitcoin is unique and resulted from a number of factors. But to put it simply, investing in bitcoin is considered different to traditional forms of investment. So when it did something like the sudden spike in value towards the end of 2017, people were not sure what to expect, and fueled the spike by getting in on the action. If it had been rice prices spiking like that, very few people would have jumped on board. Instead everyone would have been expecting a sudden and steep correction.
But because Bitcoin was seen as having no true value, being a very risky asset, and having huge economic potential, many investors had no idea what its value might reach and many may have been hoping for upwards of US$100,000.
Now that the market has seen such a big correction, it is reasonable to expect it to be more cautious, and that may continue for a very long time. But if or when Bitcoin goes past the $25,000 mark, I would not be surprised to see another spike happen. Until then, I suspect its value will more closely match its functional worth both for trade and for an investment that is free from government intervention.
As for the rest of cryptocurrency, we saw in 2017 it generally followed what was happening with bitcoin. If there is a flippening, then Bitcoin may never recover, and the new leader will be the one we watch for the spike.
But as I started with, this is just my opinion. So I'd love to read what others expect to happen as well.