Bitcoin started 2018 down, and it may stay that way as other digital currencies make their presence felt, as they already have.
For the first time since 2015, the cryptocurrency began a new year by declining, trading at $13,624 down 4.8% from Friday, according to Bloomberg.
That compares to a brisk stat last year, when Bitcoin rising 3.6% on the first day of 2017 to $998, data from coinmarketcap.com show. It ended the year up more than 1,300%, reaching 1800% at some points late 2017.
It still can’t make up its mind on Tuesday, as of this release.
On Tuesday, its market cap was $231.8 billion, or around 36% of the total value of all cryptocurrencies, the lowest in its history, according to CNBC, and 44% less from where it stood at begining of 2017.
The total market capitalization of the entire cryptocurrency world stood at $640bn on Tuesday, according to data from Coinmarketcap.com.
Bitcoin’s success looks to be fizzling as already other bandwagon riding cryptos are rising or have risen in value much faster than Bitcoin, if you can believe that.