In recent times, there has been a sharp decline in the prices of cryptocurrencies. While virtually all cryptocurrencies around the world have been affected, worst hit are Ripple and Bitcoin. In the last few months, Ripple, as well as Bitcoin, has continued to drop in value. This shocking and unfortunate crash has led to many questions by concerned cryptocurrency devotees. Prominent among these questions are “will Ripple and Bitcoin recover from crash?”
Since recording an impressive value of nearly $20,000, Bitcoin has gradually dropped in value and is now a little over $7,000. This amounts to a drop of over 50% when compared to its value in January 2018. Ripple's XRP is also not free from this occurrence that is ravaging the world’s biggest cryptocurrencies.
Do you think that Ripple's XRP will recover from this Crash?
“Will Ripple recover from crash?” is the question in the hearts of all cryptocurrency enthusiasts that have invested in Ripple. Well, before this question can be answered, it is important to understand the facts that are responsible for the crash of Ripple in the first place.
Basically, there are two obvious factors that are regarded to be responsible for the crash of Ripple. They are:
- Regulations and Rumours. While there are quite a number of regulations governing this cryptocurrency, its recent crash is attributed to a rumour. This rumour is known as “the coinbase notification.”
Sometime last year, there were some rumours that Ripple trading was going to be added to the Coinbase platform. This rumour led to a surge in the number of people that were willing to invest in Ripple, ultimately leading to a skyrocket in the value of this cryptocurrency. Well, Ripple never got traded on the Coinbase platform, thereby leading a lot of investors to withdraw from Ripple.
Now, back to the question, “will ripple recover from crash?” In an effort to get Ripple to where it was before the crash, Ripple has employed the services of a chief market analyst that is expected to make things work in Ripple’s favor. As a result of steps taken by Ripple’s new chief market analyst, coupled with the fact that the rise and fall of cryptocurrency is considered normal, there are speculations that Ripple will recover from crash and quickly too. Also, Ripple is supported by a firm that many believe will influence regulations in its favor.
Will Bitcoin recover From Crash?
Since January 2018, there has been a drop in the value of Bitcoin by over 50%. Bitcoin declined from nearly $20,000 in December 2017 to a little over $7,000. This sudden decline has sparked up fears among investors in this cryptocurrency. While the situation is worrisome, Ran Neuner, the founder of ONchain Capital believes that questions about the recovery of Bitcoin should not even arise in the first place. To support his claim of the Bitcoin crash being normal, he cited an example of how only some months ago, Bitcoin rose to nearly $20,000 from $8,000 in about two weeks. According to the founder of ONchain Capital, it is only normal for cryptocurrency to be unpredictable, as being unsteady is a regular part of its existence and not an indication that anything is wrong.
Now what do you think? Will Ripples and Bitcoin recover from this crash?. Join us at our official communication platform Check Out Crypto Core Radio and share your view.
Posted from my blog with SteemPress : https://cryptocoremedia.com/bitcoin-recover-ripple-crash/
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