Despite not yet being legalized, crypto currency has become the talk of the town in the financial world. Bitcoin the first and the largest circulating crypto currency rose from the low of mere $4.86 to life time high touching the level of $19891 dollar then again falling to the level of $6000, dollar was all moved by market sentiment.
Though it has given returns which are out of the world numbers and unimaginable, yet it has not yet been able to make a place for itself among the investment class like any of precious metal or green bucks. From its lowest price of $4.86, to today’s current price of 7050, Bitcoin has given a return of whopping 144961%, which in the entire history of mankind; no investment class has given such return.
Such whopping return and such popularity in just few years have made the bitcoin one of the most buzz words.
We can also see the other side of the story that after reaching the life time high of $19891per bitcoin, bitcoin has only seen down side, as it couldn’t sustain such high level and prices have slashed by a large mass of 65% from the life time high of 19891.Further dwelling the future of crypto currencies is the fact that publically traded crypto currencies value has gone down to $366billion, in February lowest since December 2017.
It keeps us thinking, does it hold future or can plunge to lower level any time. Will it be backed by financial daddies, or just like it rose, it will hit the dead end too soon or it will go on till eternity and to attain a status like gold in coming time period.
Calling crypto by the name of digital gold or silver, that it was designed to, looks like is not going to die soon. With the acceptance of the digital currency by many retail stores and acceptance of the crypto by retail investors as well is making the future of the crypto look brighter.
After Bitcoin other digital currencies also came into existence thus making the grounds for digital currency further stronger. The other digital currencies are, Litecoin (LTC), Ethereum (ETH), Zcash (ZEC), Dash. Ripple, Monero.
However in coming few month, the prices of most of the digital coins have gone down thus given negative return.
Looking at Litecoin, since November it has only given negative return and has lost almost 303 point from the life time high of 420, level seen in December 2017.Ethereum has lost almost 73% from the high of 1423, to the current level of 390.10 Zcash became the worst performing currency by loosing almost 97% of its value. DASH lost 75%, Ripple plunged by 84%. Thus such massive fall in all of the digital coins, does bring back the question in spot light, will it survive? Or will it erase off the value in coming time.
It will be really interesting to see, how the future of digital currency will take shape in the coming era of digitisation?