The Crypto market crashed by more than 60% in just five months (since July), with a total market capitalization down to USD 184 billion, according to Coin Marketcap. Bitcoin has lost more than half its value since December 2017, Ethereum is down by 78% in that period, and Litecoin has fallen by 86%. The market cap of cryptocurrencies is about ten times less than the peak value in January 2018.
Many people just lost their investments which does not help the market valuation or new investors and supporters. More than 1 billion USD was lost by ICOs and token sale participants. Many cryptos projects (Binance included) announced plans to start charging fees on all transactions, whether withdrawals or deposits, which might reduce the number of trades and potentially cause further market decline.
Bitcoin and Ethereum are quickly losing their positions. Bitcoin dominance fell to a new low level of below 36%, while more than 1300 different cryptocurrencies were on the top 1000 list in January 2018. The market is very volatile, and investors have to be very cautious about what asset to invest in – only those with the highest risks will give higher dividends, they also might lose everything if something goes wrong.
Why are cryptocurrencies crashing?
So far, some companies are trying to create a good service for cryptocurrency holders so they can recover their lost money and trust in cryptocurrencies through such platforms as Bitcoin Private, where you can buy Bitcoin Private and trade on Cryptocurrency Exchange with the most trading pairs, whether it is Bitcoin Cash (BCH), Ethereum (ETH), Ripple (XRP) or any other kind of cryptocurrency you want to buy.
The main reason behind the current bear market is linked to the ICO (Initial Coin Offering) excites. Many projects with an unclear business case and shaky have raised substantial amounts of money through ICOs, a, number of them have even more money than they need – they exceeded their soft cap (which means that…
The Crypto market crashed by more than 60% in just five months (since July), with a total market capitalization down to USD 184 billion, according to Coin Marketcap. Bitcoin has lost more than half its value since December 2017, Ethereum is down by 78% in that period, and Litecoin has fallen by 86%. The market cap of cryptocurrencies is about ten times less than the peak value in January 2018.
Many people just lost their investments which does not help the market valuation or new investors and supporters. More than 1 billion USD was lost by ICOs and token sale participants. Many cryptos projects (Binance included) announced plans to start charging fees on all transactions, whether withdrawals or deposits, which might reduce the number of trades and potentially cause further market decline.
Bitcoin and Ethereum are quickly losing their positions. Bitcoin dominance fell to a new low level of below 36%, while more than 1300 different cryptocurrencies were on the top 1000 list in January 2018. The market is very volatile, and investors have to be very cautious about what asset to invest in – only those with the highest risks will give higher dividends, they also might lose everything if something goes wrong.
Why are cryptocurrencies crashing?
So far, some companies are trying to create a good service for cryptocurrency holders so they can recover their lost money and trust in cryptocurrencies through such platforms as Bitcoin Private, where you can buy Bitcoin Private and trade on Cryptocurrency Exchange with the most trading pairs, whether it is Bitcoin Cash (BCH), Ethereum (ETH), Ripple (XRP) or any other kind of cryptocurrency you want to buy.
The main reason behind the current bear market is linked to the ICO (Initial Coin Offering) excites. Many projects with an unclear business case and shaky have raised substantial amounts of money through ICOs, a, number of them have even more money than they need – they exceeded their soft cap (which means that…
