The Ever Elusive Record High: Can It Ever Be Regained by Cryptocurrencies?

Even though it has just been a little over three months, it seems a distant dream when the cryptocurrency industry rejoiced in achieving milestones and obtaining all-time record highs for various digital assets. Dreams may have turned into nightmares for those who didn’t invest wisely.

We are now witnessing a great crypto fall.

But a crypto fall was expected right? There has to be ying and yang, there was bound to be some sort of balance and correction in the strong bullish market. The moon and lambo’s will still be there. It will still be attainable. Just maybe not in the near future.

We are, indeed, witnessing a great crypto fall from its prior all time highs, and in times of sadness, or when you’re feeling down, what’s one of the best things to do ? Wax nostalgic and revisit the best time that each of the top 10 cryptocurrencies experienced so far.

Without further ado, here are the findings, courtesy of CoinMarketCap.

The top 10 cryptocurrencies and their record high

 

Bitcoin achieved $20,089 on December 17, 2017, with a market cap way over $326 billion ($326,141,000,000).

It closed at $8,630.65 on March 19, 2018, with a market cap over $141 billion ($141,240,000,000).

Bitcoin – Total Fall: 42.96%

 

Ethereum hit $1,432.88 on January 13, 2018, with a market cap way over $135 billion ($135,503,000,000).

It went home at $556.73 on March 19, 2018, with a market cap over $53 billion ($53,718,600,000).

Ethereum – Total Fall: 38.85%

 

Ripple obtained $3.84 on January 4, 2018, with a market cap way over $120 billion ($120,763,000,000).

It closed trading at $0.74 on March 19, 2018, with a market cap over $26 billion ($26,274,600,000).

Ripple – Total Fall: 80.73%

 

Bitcoin Cash reached $4355.62 on December 20, 2017 with a market cap of over $47 billion ($47,644,600,000).\

It closed at $994.68 on March 19, 2018, with a market cap over $16 billion ($16,048,000,000).

Bitcoin Cash – Total Fall: 77.16%

 

Litecoin obtained hit $375.29 on December 19, 2017, with a market cap way over $19 billion ($19,525,500,000).

It went home at $161.14 on March 19, 2018, with a market cap over $8 billion ($8,658,190,000).

Litecoin – Total Fall: 57.06%

 

Cardano hit $1.33 on January 4, 2018, with a market cap over $28 billion ($28,364,900,000).

It closed at $0.19 on March 19, 2018, with a market cap over $4 billion ($4,167,750,000).

Cardano – Total Fall: 85.71%

 

Neo obtained $196.85 on January 15, 2018, with a market cap over $11 billion ($11,056,500,000).

It closed trading at $73.44 on March 19, 2018, with a market cap over $4 billion ($4,367,610,000).

Neo – Total Fall: 62.69%

 

Stellar reached $0.93 on January 4, 2018 with a market cap of over $15 billion ($15,953,600,000).

It closed at $0.25 on March 19, 2018, with a market cap over $4 billion ($4,113,520,000).

Stellar – Total Fall: 73.12%

 

EOS reached $18.71 on January 13, 2018 with a market cap of over $8 billion ($8,336,870,000).

It closed at $6.36 on March 19, 2018, with a market cap over $3 billion ($3,468,420,000).

EOS – Total Fall: 66.01%

 

IOTA hit $5.69 on December 19, 2017, with a market cap way over $11 billion ($11,796,300,000).

It closed at $1.33 on March 19, 2018, with a market cap over $3 billion ($3,437,690,000).

IOTA – Total Fall: 76.63%

 

Cryptos have fallen, and they have fallen hard

As evident by the statistics above, none of the top 10 cryptocurrencies by value have been able to get close to their all-time high  after hitting it, most closely in January 2018. The crypto fall has shocked many, especially those who went on a buying spree at (what were then) all time highs.

With promising new altcoins such as Ripple and Cardano falling by 80%, the growth of altcoins do not seem to be all that rosy either, at least for the current moment.

However, even after all of the ruckus and the criticism, the big two, Bitcoin and Ethereum, have only gone just a bit below 42% and 38%, respectively.

This could allude towards two very important yet very different possibilities.

  1. These two cryptocurrencies have shown immense resilience by staying at what could be considered their lowest low. There seems to be a support line at the current levels, showing that the cryptocurrencies will rest here for a while and bounce back higher, all other conditions remaining the same.
  2. Since they have not been hit as hard as the others, the possibility of them doing so might be very possible . These two might see a drastic drop in the next few weeks before they bounce back stronger.

While a further pull back for Ethereum and Bitcoin could hurt it may help to improve the market in the long term.

By | 2018-03-22T04:38:58+00:00 March 22nd, 2018|Cryptocurrency News|0 Comments

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