$10bn cryptocurrency devaluation in 24 hours, Bitcoin hit hard
Cryptocurrency investors have suffered heavy losses following a dramatic drop in the price of Bitcoin and Ethereum in recent days.
Bitcoin fell to around $1,863 and Ethereum to around $133 over the weekend – 38 percent and 67 percent off their all-time high respectively. Bitcoin, in particular, suffered heavy losses since hitting a high of $3,018 on June 12.
By Monday, Bitcoin had recovered slightly to $2,129 while Ethereum also rose to $176.
The decline appears to be part of a wider trend across the market, with trade publication Coindesk reporting Sunday that the worth of all publicly traded digital currencies had fallen by a total of $10 billion in 24 hours over the weekend
Just a temporary blip, all will be back up shortly
Now must be the time and place to buy then...
Definitely a good entry point if you are buying quality cryptos. I'd also advice investing a very small amount into cryptos with market caps under $1m, some of those coins (like neutron) have increased exponentially, and make for a good short term profit move.
Prices are already coming back, hopefully they continue in the upward direction!
I am so relieved the markets have finally crashed. Seeing the price increase so fast made me feel like the price was going to crash at any given moment. Just another hurdle we must past.
Soon, a total market cap for JUST Bitcoin will be over $100 Billion, let alone the market cap of all coins.