As the stock market and many other markets are in a slump, there’s a belief that cryptocurrencies have the potential to become the best performing asset class of 2019. An established trader called Travis Kling posted on Twitter how he believes that crypto already had the fall that’s just getting started with the stock market.
“It would make complete sense to me that crypto would bottom out months before traditional asset classes.” – Kling posted on Twitter.
The cryptocurrency market once almost touched 500 billion dollars, but is now around 130 billion dollars. Early December the market reached is potential bottom of 100 million dollars, after which is regained $30 billion in just ten days.
The entire economy is hitting a bear market. In 2018 around 90 percent of all asset classes posted negative returns. That’s the highest number since the Deutsche Bank started measuring this data in 1901. This will be the first time for cryptocurrencies to go through a bear market in traditional assets.
The cryptocurrency just had a reversal moment, when its market value bounced on the 100 billion dollar mark. This could be another moment for the crypto market to steal the show and shine.
Also published on Medium.