Cryptos crash 😤😤

The cryptocurrency market has again made a big drop this Friday. Almost all cryptocurrencies are in the red. In one day, Bitcoin lost $ 700 in value (600 euros). It is almost at the lowest point.

Black day for those who cryptomonnaies, car with a few exceptions, all cryptocurrencies crashed. With losses of 10 to 15% in a few hours, the market has completely collapsed. It is especially Bitcoin (with a drop of more than 10%), the EOS (more than 15%) and the Ethereum Classic (which fell by 13.5%) who are the most affected.

Bitcoin

In less than 24 hours, the value of Bitcoin dropped by 700 dollars (600 euros). In the night from Thursday to Friday, Bitcoin was still at $ 6,700 (or 5,740 euros). But 24 hours later, its value was only $ 6,000 (or 5,140 euros) (see the graph above last week). It has almost reached its lowest point during this year: it was $ 5,922 (or 5,075 euros) in early February. At the end of 2017, a Bitcoin was worth almost $ 20,000 (17,140 euros).

The market will collapse?
Most cryptocurrencies have stabilized this Saturday morning and some have even recorded a slight increase.

But to say that the crypto market has collapsed is no understatement. The entire market is now worth around $ 259 billion (or 222 billion euros) or a value of less than one third of the peak of 813 billion dollars (or 697 billion euros) posted a few months later. early.
For Charles Hoskinson, co-founder of Ethereum, many of these cryptocurrencies were built on the wrong technologies. According to Hoskinson, they are doomed to failure. Sooner or later, the market will collapse completely and smaller cryptocurrencies will disappear from the market. Only then, according to Hoskinson, will the market stabilize again.