Cryptocurrency capitalization markets leak more than $20 billion in just a few days.
Leaky markets
Over the past two days, the volume of the market capitalization of digital currency has decreased by almost $ 25 billion. The total market cap at May 24 reached the level of $ 90 billion., Today this figure is $ 67.2 billion.
Against the background of falling prices cryptocurrency prices, Bitcoin's market share increased slightly and now stands at 50.4%. This suggests that most market shares fell in the alt-coin market.
If we look at the top 10 digital currencies in terms of market capitalization, we can see that last night all major alt-coins lost more than 20% of their value
According to CEO of Waves Aleksandra Ivanova the deep correction was quite expected, and that it should be seen as a good opportunity, and not as a "catastrophe":
It is a sensible correction. Wait a little bit and it will be a great point to enter Bitcoin again. Recall that in recent days lot of new cryptocurrency noobs were responsible for this unprecedented growth in the market. Heavy selling and the taking of profits by these noobs as well as us old dog saw to this price correction!
I think this is just volatility, not the end of any bubble. Still nobody knows anything about crypto!
This is just a slight market correction - nothing to see here folks ;)
Volatility yes. A bubble burst would be a lot worse?
Soon will be 40 million more, it was necessary.
Market corrections - I see them daily in the forex markets too @malonmar ;)
Mine #Ethereum (#ETH #ETC) start mining in 5mins! https://goo.gl/oQdEvm
I've switched to Zcash already before ETH goes PoS in August!!
Clearly, the market got overheated and FOMO buying took over. Naturally, that would set off some profit taking from those who've been around the block a few times. Following a more realistic growth gradient for BTC based on the last 6 months, we should be sitting around $1800-2000 right now...
The monthly charts do indicate that @denmarkguy - this was plainly a market correction and a requirement to get us up to higher ground :)
The market was overheated. So the correction is ok.
Let's look positive to further movements ;-)
I hoovered up some lovely Steem today at 61 cents too :)