Is there another crisis on the crypto-market?
Those who access CoinMarketCap will have a shock. Almost all the cryptocurrencies in Top 100 are red, as if they were at war.
Still first in Top 10, Bitcoin falls 4.97% in the last 24 hours and with a quote of $ 2421. Ethereum, worth $ 350 past week, also depreciated against the dollar. A coin now costs only $ 250.
All major players are shaken by these price cuts, and the market does not show any signs of revival. Although the losses are not as serious as the previous "massacre".
The biggest amount of losers in Top 10 are on Bitshares, which dropped 14.25%, and Ethereum, which dropped 11.75%. Among other things, Dash has the slightest depreciation of only 1.95%.
For now there is no way out of this deadlock. Let us remember, however, that there have been similar situations in the past and every time cryptocurrencies have managed to recover. There were even more serious cases when critics predicted it was over, but then the market found resources to strengthen.
Is there another crisis?
Everything that is happening now reminds us of the situation a month ago, called the "crypto massacre". Then, for over a week, most cryptocurrencies seen significant negative growth. At the end of May, coin prices seemed to be a huge roller coaster.
There was no point of support, and most of the major currencies were red. Bitcoin, Ethereum, Ripple, Nem which lost 24%, 31%, 39% and 40% respectively of their value.
Two weeks later, in mid June, another major weakening of the market followed. This time, the top four cryptocurrencies have depreciated between 13% and 17%.
Three bubbles within one month already mean too much. Is this another massacre on the crypto market? We'll have to see for ourselves.
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More crypto-news coming soon!
More crypto-news coming soon!
I also dont understand what exactlz is happening. eeeeeh
Most certainly is all because scaling issues and backlog produced by ICOs (Initial Coin Offering).
The thing is that if one cryptocurrency suffers losses, they all suffer, it's like a domino effect.
And as I look at the market caps now I see some green appearing, maybe an early Christmas. I for one am not really overly concerned about these ups and downs. I am use to seeing 10 to 30 percent changes in this market and some coins have ever greater ups and downs than the market average. Lets also not forget that coins like Ethereum have had a massive increase over the last two months. As I tell my friends " don't play with money you can't afford to lose".
Sit back, don't get stressed and perhaps do a little trading or invest in those coins you thought were too expensive.
This market is going up in the long run so just relax and think long term.
Daddycoin ; )