Experts Expect Bullrun Cryptocurrency Market to Hit $1 Trillion This Year


This is disappointing news but not something out of the blue because for the longest time now, we are hearing news about a bitcoin crash.

DOW dropped 1,175 points by the end of the day on Monday, and it's no coincidence that Bitcoin also fell to one of its lowest points in two months at the same time, temporarily trading below $6,000.

Bitcoin traded at 9.5% higher, above $8400 at 8:12 am ET.

While it seems like just yesterday, regulatory concerns were a big issue for Bitcoin and the crypto space as a whole, regulation now seems to be the reason for gains.

That being said, the market is still far from being immune to bubbles.

Thursday's biggest victor, Bitcoin Cash, has emerged as an interesting option in the crypto marketplace.

The study found that Bitcoin prices affect Ripple, with a spillover of 28.37%, and Litecoin (42.3%), while the highest spillover from a cryptocurrency to a "traditional" asset was Bitcoin to Forex (FX), at 15.25%. As risk gets sold, it sometimes adds fuel to the fire. A proposal to this effect has been under discussion for a week now, and developers are making headway. However, today's news brings some positivity as the Bitcoin managed to put on some gains.

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Those are the technical tidings. Bitcoin cash has increased by more than 20% in the last 24 hours.

Things are constantly changing in the crypto world.

So Bitcoin Cash just widened its addressable market by a fair bit while the tech gurus behind the scenes made strides toward solving some technical problems with this currency.

"The high correlation between the different crypto currencies worries me", Goldman's head of research, Steve Strongin, told Markets Insider .

Slowly but surely, the acceptance of Bitcoin cash is also increasing all over the globe. Launched in August, Bitcoin Cash is hard fork of bitcoin.

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This could mean that the correction is over if investors truly feel that Bitcoin has dropped well below what they believe its potential value to be. That's right - they think these 10 stocks are better buys. Many people who have held bitcoin since before the Bitcoin Cash split, especially those who hold their coins in an older wallet, have still not been able to receive their Bitcoin Cash tokens to which they're entitled to. The Motley Fool has no position in any of the cryptocurrencies mentioned.