Bitcoin Price grows and the Market Value reached a new Record

Nishanth Shetty

Nishanth Shetty

January 4, 2018 8:21 am

Bitcoin Price grows and the Market Value reached a new Record | Coindelite News
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Bitcoin Price Today

From the beginning of 2018, the price of a single bitcoin has grown by approximately 12%. At 13:57 UTC, bitcoin’s price was trending at $15,100, up from 24 hours. The growth gets a slide in the cryptocurrency‘s price during the end of 2017. Even if it has got growth, anyhow, its overall market share has declined to 36% from 56% in the last month. where Bitcoin had reached $20,000 level and now crashed towards $15,000.

Bitcoin’s poor performance really did not affect the overall market capitalization of the cryptocurrencies.

Altcoins also had growth in the cryptocurrency markets. For example, bitcoin’s price increase blanched in comparison to that of Stellar, a cryptocurrency for banking transfers that declared partnerships with IBM Corp. (IBM) and Deloitte, whose price grew by 55% in a single day. At 14:11 UTC, Stellar was trading for a price of $0.88 per coin. In the last two days, its price has popped by 166.6%.

Cardano, a four-month-old cryptocurrency, was also another winner, growing by 36.31%. According to Price Chart, Cardano’s blockchain will be used to verify diplomas handed out by a Greek University.

Litecoin, which is intended for daily transaction markets, and IOTA, a cryptocurrency for the so-called Internet of Things economy, were the only losers, falling by 3.4% and 3.2% individually.

Is The Glass Half-Full Or Half-Empty?

This might be the great question that bitcoin investors are asking themselves after news of bitcoin’s falling in the market share in the crypto market. The question is, Bitcoin is not the only cryptocurrency with a falling market share.

The top 10 most-traded cryptocurrencies have lost approximately 26% of their share of the total market cap for cryptocurrencies since the beginning of 2017.  But those losses have occurred amid spectacular gains for the currencies themselves and the market as a whole.

Lex Sokolin, global director of FinTech strategy at Autonomous Research LLP said:

“Each coin’s usage “should become increasingly relevant as the novelty of crypto wears off.”

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