Crypto leads the stock market as traditional money value continues to fall
While the cryptocurrency was born in the heat of the global financial crisis in 2008, financial experts see 2018 as a truly historic moment for it. In the latest trend, while the global stock market continues its downfall and there’s no positive sign it would return into a positive margin, the cryptocurrency value continues to go upward.
At the time of this writing, Bitcoin (BTC) has stabilized at $6,259, however, its daily trading volume still keeps relatively low, at $3.5 billion. On the other hand, Ethereum (ETH) is trading at $204 billion, experiencing 0.12 percent rise.
Other coins are also going upward. The highest gain in the market – 13.11 percent – has been achieved by Nxt at $0.0672 and Polymath by 10.62 per cent at $0.3259.
With the most recent increases in value, the current cryptocurrency market caps at $209 billion. And while the traditional stocks are falling down, it doesn’t seem to have any effect on the crypto market in general.
According to Mati Greenspan, senior analyst at eToro, while the traditional stock market is taking U-turn from the growth and every minor downfall could simply crash it, the fact that the current crypto market is not affected by it only serves to increase the crypto use case as a powerful tool for asset management.
With crypto market being more stable and less volatile, it’s inevitably attracting more and more traditional investors. Additionally, according to financial experts, with the wave of recent approvals and licensing the crypto received from state governments worldwide, cryptocurrency could take the lead in financial operations on all levels a lot sooner than it was originally anticipated.