Cryptocurrencies reached an all-time high towards the end of 2017 and continue to intrigue investors in 2018. There are more than 1,800 cryptocurrencies in the world today! However, admittedly not all of them are worth your money. So, if you are considering an investment in cryptocurrencies, a review of the performance of various cryptos so far in 2018 is what you need in order to make an informed decision.
Here’s a look at cryptocurrencies that performed well and the ones that suffered year-to-date in 2018, as of August 21, 2018.
The first half of 2018 hasn’t been the most profitable for digital currencies, but the market appears to be rebounding now. This development is a sign of the maturing of the cryptocurrency market. Here’s a look at the cryptos that seemed to have a silver lining in the comparatively darker months of 2018.
This Shanghai-based alt coin stood out among the rest this year. It was launched in March 2018 and has seen considerable growth since then. The first charted price of Ontology was $1.58. The person who invested in ONT at that point can now trade it at $2.38. That means a 50.63% return on the original investment.
Huobi Token is an offering by Huobi, which is the third largest cryptocurrency exchange in the world. It was launched on January 24, 2018, with the token starting off at around $1.20. Within a short span of time, however, the crypto token has soared 72.8% to touch $2.16 in August this year. Further, Huobi’s loyal investors get the benefit of lower transaction fees as a reward.
2018 saw some of the most recognised cryptocurrencies plummet in value. Multiple factors were responsible for such volatility in the market. The digital currencies that have suffered the most brutal brunt so far are:
The year began well for Bitcoin, at a price nearing $14,000. However, since then, BTC has pulled-back to $6500 in August, witnessing a loss of 53.57%.
ETH started the year at $765 but plummeted to $280 by the middle of the third quarter this year. The -63.39% decline makes it one of the worst performing cryptocurrencies in 2018.
LTC closed at $56 on August 21, suffering a decline of 55% since January 1, when it was valued at $231.
Even after suffering such huge loses, these cryptocurrencies have begun to rebound. It is expected that by the end of the year, they will recover and the scenario might be quite different by then.
So far into 2018, we have witnessed quite a few position shifts in the cryptocurrency world. The market hit US$834 billion in the first quarter of 2018 and then, as was expected, price correction took place. However, the final quarter is predicted to be better, as the market is rebounding from the losses and is expected to repeat its highs.
Crypto is still a volatile market and one must be aware of the risks involved before proceeding with an investment. If you wish to continue trading regardless of whether the market is rising or falling, CFDs are the best way to do so. Blackwell Global offer one of the largest choices in crypto CFDs, with 15 different cryptocurrency pairs to trade in. The fully regulated firm has also launched an exhaustive education portal to help traders make well-informed trading decisions.
Trading leveraged products involves a high level of risk. 71% of retail investor accounts lose money when trading CFDs with Blackwell Global Investments (UK). You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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