2018 has been a volatile year for cryptocurrency prices, while $15 million USD has poured into the initial coin offering market, 3 times larger then 2017 and the Chicago Stock Exchange (CHX) sold to Intercontinental Exchange (ICE) for $70 million. This sale price was 2.5x more then a U.S. government blocked deal to sell the CHX to a U.S. / Chinese group of investors. ICE is an investor in Coinbase and has plans to launch Bakkt, a US federally regulated market for bitcoin. In addition to the money flow many large custodial banks such as Northern Trust and Goldman Sachs have committed to setting up cryptocurrency operations. The financial industry seams to be re-tooling to support solutions for investors. All of these positives while the prices of cryptocurrencies are down and continuing to fall into September.
Bitcoin is trading at $6,300, off its high in January 2018 above $17,000
Ethereum has been hit even harder trading below $200 off its January 2018 highs above $1,200
Ripple currently trades at 10% ($0.25) of its value in January 2018
The CoinOpinions Top 10 Average Index shows the market is down over 50% since its inception and making new lows.
Will investment continue to be placed into ICOs with prices performing as poorly as they have?
What will be the next catalyst for cryptocurrencies to start bringing holders return on their investment?