Cryptocurrency market keeps declining... Somebody stop it!

Cryptomcurrency market keeps moving down, Bitcoin's price dropping to nearly $ 6,000 on Wednesday - a nearly 2% drop in a day, which means a drop of more than 50% this year. Ethereum dropped by over 3% and Ripple fell by about 4%.

Over 80% of the 1 586 crypto coins on Finder.com, tracked in a weekly survey, fell in value over the past seven days, the survey found an average decline of 19%, according to Bloomberg. Transaction volume also fell 6% over the previous week, Finder.com shows, and Bitcoin, Tether, Ethereum, EOS and Bitcoin Cash were the top five traded cryptocurrencies. The volume was half as much as it was at the end of April, when Finder.com started the weekly analysis of cryptos.

At the end of last year, a Saxo Bank forecast said that "Bitcoin will grow in excess of $60,000 in 2018 and a $1 trillion market capitalization as Bitcoin's futures contracts in December 2017 to mobilize investor and fund involvement. The latter feel more comfortable negotiating futures than gathering funds for scholarships. "

In mid-June, Bitcoin dropped to its lowest level after February, reaching $ 6.450, renewing investor concerns about long-term cryptocurrency viability. The price of the cryptocurrency fell to $ 6,450 on June 13, down more than 6%, a loss of more than 50% this year. That compare to when Bitcoin reached a record high of $ 19,511 in December 2017, with a peak of over 1,400% in 2017.

Criptocurrenies have had a startled year, with significant crashes of values. Currently, the battle has moved into the area of ​​their acceptance by top financial companies, but also in the beer of how they will be regulated and, implicitly, accepted by financial market participants. I still believe in them reviving once again and pushing up where they belong and where their value has proven itself, but until the environment doesn't change it will be hard to get recognition. If things would only move faster would make us all happy, but patience is required in this moments as it did in the past. It might seem longer than usual for the market to stagnate or to move down, but the cryptos that are addressing real life problems will get back in the end. We just need to HODL up!