The bear market has haunted every single altcoin and Qtum (QTUM) went on to hit the lowest price mark in this recent market. The massive descend of Bitcoin (BTC) has affected the market badly, as the market cap of the market has dipped to $108 billion which was almost $250 million couple of months ago. We cannot assume much big from any coin at the moment because of Bitcoin’s low price. If the Bitcoin will show some signs of massive rise than we can expect other digital assets to have a higher go in the market.
Despite the bear market today (13th December 2018), Qtum (QTUM) has shown some positive signs as it trades in green. Just like Electroneum (ETN), Qtum is also a new cryptocurrency and it will take some time for it to get settled in the market. A year that has been full of bear markets, it is difficult for new coins to survive. Still, Qtum (QTUM) has done exceptionally well to stay among top 35 cryptocurrencies.
The price of Qtum (QTUM) touched all-time highs in January 2018 when its price reached $100 USD mark. But since then the price has been dropping and has dropped to the lowest point of $1.48 USD. In the first two quarters of 2018, Qtum traded around the top 20 and top 30 coins in the market but it could not absorb the bear market and currently, it trades on the 32nd spot.
Many cryptoanalysts are expecting Qtum (QTUM) to revive back in coming time. It will take some doing for the coin to touch that highest price tag of $100 USD. The digital asset is still new and is in developing phases. Qtum certainly badly hurt by the market, but in coming we will see in rising again. The Amazon Web Services (AWS) partnership is one of the top deals that Qtum has made so far and this partnership is a long-term prospect for Qtum. The price of Qtum will grow time by time. In the coming year, the bear market is set to sign out as per the predictions and the market trend. If the bull run comes soon in 2019, we might see the digital asset touch $4 mark, which will be a good sign moving into the future.
In the last week of October, SpaceChain launched a first fully functioning Qtum node into space. It is a very exciting time for both SpaceChain and Qtum (QTUM). This Qtum blockchain node will be able to perform multi-signature transactions and run smart contracts in space. This is something extraordinary, a new innovative thing for Qtum network. So, Qtum (QTUM) is slowly and steadily building this platform and in future, we will see it grow as a top blockchain platform.
In the market today, the rest of top altcoins are trading in red with BTC, XRP and ETH almost down by –1%. At the time of writing, Qtum (QTUM) has gained a bit of increase in price. In the last 24 hours, it has surged up to 6% and was trading with a price of $1.74 USD. The market cap was $155 million with a trading volume of $91.6 million. If Qtum capitalizes to reach $2 USD mark by the end of this year than we could expect Qtum to revive with a better speed the in the upcoming year.