In 2018, SALT has been a volatile coin with a lot of ups and downs. This article will provide an analysis of the performance of SALT in 2018 and what we can expect for 2019.
The bittorrent coin is a cryptocurrency that has been around for some time now. It was created by the same people who created bitcoin and ethereum.
For cryptocurrency investors in general, 2018 has been a difficult year so far. SALT coin is no exception, but how has it fared in comparison to other cryptocurrencies? Does SALT currency provide investors a chance to make significant profits in the third and fourth quarters of 2018?
What Has SALT Coin Been Up To In 2018?
SALT currency began the year at $12.63 per coin and is now trading at $2.03 per coin. Yes, an 83.93 percent loss in value is a nightmare for investors who bought in in January. However, today’s investors may see such a low price point as an opportunity.
Image courtesy of Coinmarketcap.com.
The whole bitcoin market has shrunk substantially since early January. Even Bitcoin, the most well-known cryptocurrency, has dropped in price from $14,000 in January to $7.5k as of this writing. When the entire market is trending downhill in cryptocurrency markets, Bitcoin tends to go down less than other currencies. In a bull market, Bitcoin often lags behind altcoins like SALT in terms of gains.
SALT currency has seen losses comparable to those experienced by other cryptocurrencies such as Ripple and Cardano this year. The rapid decrease in value does not imply that the project is doomed; rather, it reflects the current state of the market. In weak markets, traders prefer to take refuge in Bitcoin, which is one of the reasons why altcoins underperform Bitcoin. As a result of the money flowing from altcoins to Bitcoin, altcoins such as SALT are falling quicker. The second reason for cryptocurrencies’ poor performance is that they aren’t valued in US dollars. Rather, they are mostly purchased and sold with Bitcoin. This implies that SALT only has a Bitcoin price, which is translated to USD and published on sites like Coinmarketcap.com and TotalCrypto.io. Still don’t trust us? We’ll provide you the evidence that Bitcoin accounts for over 90% of SALT’s trading volume:
Image courtesy of Coinmarketcap.com.
What Does the Future Hold for SALT Coin in 2018?
Without a significant rise in the price of Bitcoin, it will be very difficult, if not impossible, for SALT currency to surpass all-time highs of $17.68. This is due to a number of factors:
SALT offers cryptocurrency-backed loans to its clients. Cryptocurrency is used as collateral, allowing users to obtain a traditional currency loan. Many people have pointed out the tax benefits of this since the debtors haven’t actually sold the asset. If the bitcoin market has experienced significant gains in the preceding tax year, this makes services like SALT’s more attractive when it comes to tax time (after all if investors have taken a loss then there is no tax to pay). When crypto holders utilize crypto-backed loans to purchase homes and Lambos instead of paying bills, SALT as a company is more likely to perform well. This implies that the SALT currency will do well during periods of market euphoria.
Bitcoin accounts for approximately 90% of SALT’s trading volume. This implies that for the cryptocurrency to reach exciting levels of value for investors, Bitcoin must be doing well. As previously stated, the SALT price in USD is simply:
* The bitcoin price = SALT USD price = 0.00027085 BTC (Bitcoin price)
More money flows into altcoins like SALT during periods of cryptocurrency market euphoria, as investors seek to swap their Bitcoin for higher-returning altcoin holdings. This implies that when cryptocurrency markets are bullish, the price of SALT rises. SALT currency reached an all-time high of $17.68 on December 29, 2017, with a Bitcoin price of 0.00118152 BTC, which is considerably higher than the current price of 0.00027085 BTC.
What Could SALT Coin’s Price Be in 2018?
To have a chance of surpassing its previous all-time high, SALT coin requires the entire cryptocurrency market to perform well. Bitcoin is now driving the cryptocurrency industry. Bitcoin is expected to reach $50,000 by the end of 2018, according to a number of cryptocurrency specialists, including YouTube star Nicholas Merten. Given the huge rise in the price of Bitcoin in 2017, these forecasts may not seem that far-fetched.
What would a $50,000 Bitcoin imply for the SALT cryptocurrency? We already know that SALT’s last all-time high was 0.00118152 BTC per coin. If SALT had the same price in Bitcoin and Bitcoin reached $50,000, the following would happen:
$59.07 per SALT coin = 0.00118152 (SALT’s all-time high price in BTC) * $50,000
So, if analysts like Nicholas Merten are right, SALT investors may see 30 times returns on their money.
What is the procedure for purchasing SALT Coin?
The potential profits that SALT may provide crypto investors in 2018 thrill the TotalCrypto team. Do you need instructions on how to get SALT? Fortunately, we’ve got you covered completely.
Despite the fact that SALT currency may be an intriguing investment option, the TotalCrypto Team advises that you fully study the project before making any decisions. You should be aware that cryptocurrency markets are among the most volatile in the world, with value drops of up to 80% occurring often. This is the price you pay for the opportunity to make massive profits.
DISCLAIMER: The activity of the cryptoassets discussed in this paper is uncontrolled. This post is not intended to provide financial advice. Always do independent research.
The market cap of bitcoin is a metric that is used to determine the size of an asset. SALT coin has seen a huge spike in performance in 2018.