1-year total market capitalization of all cryptocurrencies chart. Source: CoinMarketCap
However, while crypto markets have seen a significant decline in 2018, the current figures are still much more than those in the beginning of 2017, when total market capitalization stood at around $17-20 billion, and major cryptocurrencies such as Bitcoin (BTC) and Ethereum were mostly trading below $1,000 and $12, respectively.
In this regard, “Bitcoin Jesus” Roger Ver recently told Cointelegraph that the recent bear market “feels like the opposite of a crash,” since “BTC is up 58% for the last year, and 1048% for the last two years.”
In the bearish marketplace, various experts have suggested different scenarios for the dynamics of crypto prices at the end of 2018. In late August, Fundstrat’s Tom Lee claimed that the BTC “could end the year explosively higher,” citing a correlation between it and emerging markets and predicting that Bitcoin’s price could surge to as high as $25,000 this year.
In July, Alexis Ohanian, co-founder of both Reddit and VC firm Initialized Capital reiterated his stance that Bitcoin and Ethereum will be trading at $20,000 and $1,500 by the end of 2018, respectively.
Also in July, Julian Hosp, co-founder and president of crypto startup TenX claimed that he was still “quite confident” that Bitcoin can hit $60,000 in 2018.
