Small recoveries are the part of cryptocurrency market and it may reach the bigger value in months. It has been seen that all the cryptocurrencies are showing some great progress, they may be slow but appreciated.
Traders who were thinking to get away from it are trying to stay and believe on predictions which says bitcoin is going to cross $50,000, Ripple will cross $5 while Ethereum may reach to the level of $1500. In 2018, bitcoin has crossed $9000 for the first time this morning and people are hopeful that this volatile nature of bitcoin may help in recovering loss.
Cryptocurrencies are in the ideal state at this time and they can gain some great value in coming weeks. According to the market, it may be possible that bitcoin may shoot the value due to its volatile nature but Ripple is showing progress on the daily basis.
Ripple has successfully crossed $1 in 24 hours and in a week Ripple has recovered about 46% of its value. Traders are having a question in mind why bitcoin is not able to cross the value of $9,000 after a week of recovery? Why has it stuck on the value of $9,000?
Bitcoin’s trading is getting slow, there are still so many outstanding coins nobody is having in the market. When bitcoin was at $19,000, at that time everyone was holding them and demand was increasing but supply wasn’t enough.
At this point, supply is enough but demand isn’t increasing. How everyone rushed to the market to cash out their bitcoin also affected the reputation of bitcoin. The largest bank JP Morgan is going to reach to the value of $380 billion market valuation. Traders are waiting for the point when cryptocurrency market can get back to the previous value of $420 Billion once again.