Cryptocurrency Market in Flux

Watching the market trends for the current status on cryptocurrency? Most of us are. And it seems those of us who are hoping for a rise may not be disappointed. From the way the market looks now, many are predicting a great rise in the price gains. But let’s not get carried away. Alas, caution is the better part of valor.

The CEO of the deVere Group, Nigel Green, is offering warning to those predicting the rise in cryptocurrency. Green is adamant that the leading cryptocurrencies have already experienced a great upswing in the past weeks.

To explain the rise, Green says, “There are several key motivators fueling the recent rally in prices. These include adoption and integration by major banks and other financial institutions.”

He goes on to say that, “Another key reason for the rally is that there’s a growing awareness for the need and demand of digital, global currencies in today’s world. The upward trend is also being triggered by regulation, which most experts now believe is inevitable. This will give investors even more protection and long-term confidence in the market.”

Due to increasing interest in the cryptocurrency market, the South African Revenue Service, has again made it clear that the taxpayers must still declare profits and losses in regard to cryptocurrencies — just another sign that the market is in flux.

But, as with the future of the market, another surprise may be in store for 2018. Bitcoin, long the leader and considered the biggest cryptocurrency, is predicted to fall behind Ethereum by the end of the year. Indeed, it could turn out to be the furthest behind the other largest cryptocurrencies.

Green quotes that, “Ethereum can be expected to solidify its position as the second most valuable and used cryptocurrency token in the world. The consistency of the Ethereum token will appreciate well into the future…”

But the CEO of the deVere Group still calls for caution. The expectations may hope to see the market rise, but the volatility of cryptocurrencies is never predictable. All things considered, caution is the best tact.

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