As per the latest information, there has been a huge loss in cryptocurrency markets in the first quarter of 2018. According to the data given by Coinmarketcap, the overall market capitalization has declined to 59% in the start of January Q1 2018. This quarter has been the most memorable period for the Bitcoin market, with Bitcoin going through a significant loss of up to 50% in value, right from the start of 2018. Though Bitcoin has been hampered by a huge loss, comparative to others, it has performed way better than another leading altcoin. The other cryptos have witnessed a drop of 70% since the start of Q1 2018.
The Q1 of 2018 started from January has created an intense variation for cryptocurrency markets.
As per the information given by Bitstamp, at the start of the January 1, the Bitcoin’s trading was initiated amid $13,000 to $14,000. In the course of a week, BTC managed to grab some quick gains up to 20% to achieve 2018’s highest price of approximately $17,500.
After reaching the $17,500, the Bitcoin markets drooped by around 66% in a month, which directed to the low rates around $5,900 in February. Further, the price rose in a multifold way within a short span of just 2 Weeks, previous to worsening of resistance at just lower the $12,000 area two times. The disappointment in breaking resistance ultimately directed to a plunge of roughly 40% for the duration of March, with BTC prices at present are on the edge of around $6,500.
Relying on the Coinmarketcap, with an exclusion of data from Korean exchanges, the total capitalization of the cryptocurrency market was around $610 Billion in January start, reaching $820 Billion; it later witnessed a drop by 70% resulting in the total establishment of $250 Billion for 2018.