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After recording sharp declines in two days, the main cryptocurrencies are back on the rise.
The main markets in the green
After two difficult days, during which most digital currencies collapsed, the markets had found this afternoon colors :
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Among the largest values, we could note the strong increase of Ripple (XRP), which appreciated more than 68%, or that of Lumens, the Stellar network (XLM), more than 67%:
If we were interested in the major increases, in the top 100, in the last 24 hours, we found BitConnect (BCC), MediBloc (MED), TRON (TRX) , Dentacoin (DCN) and Verge (XVG):
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And yes, an increase of more than 335% for BitConnect ... While one could think that the network, presented by many observers as a Ponzi pyramid, was dead and buried , it would seem that he did not say his last word.
The company was still expecting the BitConnect coin to recover its value (which amounted a few days ago to more than $ 400).
Not enough to find the levels of the beginning of the week
When writing this article, the "Total Market Capitalization" calculated by CoinMarketCap amounted to just over $ 595 billion .
And we could see that today's rebound was not enough to erase the losses of the previous two days , with a threshold of $ 700 billion that was still far off:
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Nevertheless, if the main cryptocurrencies were still in sharp decline compared to their previous historical records, they were above "psychological thresholds" . The price of Bitcoin was again higher than $ 10,000, the Ether was again above $ 1,000, and Ripple remained only a few minutes below a dollar.
Over a year, the price of Bitcoin had been multiplied by more than 13, that of Ether by more than 107, and that of Ripple by more than 248.
Several reasons that could explain these declines
Yesterday, many observers had tried to explain these declines . Here are the three reasons which, according to what we have seen, are the most often mentioned:
the fact that the markets fall every year , around mid-January ( for Ronnie Moas , it would be a period between 21 and 24 days before the new Chinese)
the threats related to the decisions that could be made by the South Korean and Chinese governments
the arrival of futures : an investor explained yesterday how they could have been used by some fund managers to generate profits at lower risk
What prospects for this year?
Ethereum BitcoinWe remember that Vitalik Buterin , the co-founder of Ethereum, had already launched the alert .
Last month, when the valuation of the ecosystem had exceeded the threshold of $ 500 billion, he wondered if such a sudden rise was truly " deserved " . He indicated that blockchain technology has not, for the moment, really helped people in their daily lives.
And we can think that these networks will, over the months, show their true usefulness to justify their valuation - by offering concrete products, and by growing their user base.
By the end of 2017, investor Mike Novogratz had predicted that the price of Bitcoin would reach $ 40,000 this year , and that Ether would exceed $ 1,500 . If it is impossible to know if the analyst will be in the right, it should first of all that Bitcoin and Ether manage to regain their levels of two days ago, while they exchanged respectively at $ 14,000 and $ 1,300.
