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The bitcoin put in place a minor recovery on Monday, eventually reaching the $ 3,400 level after weeks of pain.
Since last year's peak, the entire cryptocurrency market capitalization has decreased by more than 80%. The market value rose from $ 592 billion in December 2017 to around $ 109 billion this week, according to CoinMarketCap.
However, the sector has grown rapidly since its inception 10 years ago and the $ 3,400 level is well above the one-cent fraction where bitcoins have started trading. Last year's performance put bitcoins on the map, especially among retail investors.
Bitcoin started last year below $ 1,000 and in December it brought its total gains to 1300 percent, according to CoinDesk. These gains have led to a new era of crypto millionaires, who in some cases have advertised their earnings and Lamborghini on Twitter.
Growth has also inaugurated some institutional interests. Fidelity announced a solution for custody of cryptocurrencies this year and the parent company ICE of Nasdaq and NYSE plans to launch bitcoin futures in 2019.
"Since its founding 10 years ago, bitcoin has already experienced four retracements, similar to the ones we saw last year," said Greenspan. "Bitcoin will find its center of natural gravity, it's just a matter of time."
