Crypto Bloodbath

In the last 24 hours the cryptocurrency market saw a massive decrease in value. Bitcoin which after seeing a meteroric rise and last year in December it briefly hit the USD 20,000. Two months later in February 2018 lost over 50% of its value and as of now its price is barely under USD 9,000. The market trend seems to be the same for most crypto currencies. For example, Ripple reached surpassed the USD 3 mark in January as of today the price is just under USD 1. Litecoin which saw a price as high as USD 360 in December is trading for USD 141 today.

On the other hand, Ethereum, has shown a consistent growth and while it lost some value. In mid-January this year it was trading at as high as USD1,441 It seems there is a support level in USD1000. While the overall market has seen drops, Ethereum price has shown more stability compared to other cryptocurrencies.

Steemit has seen a massive increase in early December 2017 and it was trading at about USD14. However, the price as of now sits at USD 4.2 This price correction is not necessarily negative as steem dollars at current price are still trading at more than double its price before December last year.

What do you think the future holds for cryptocurrencies?

What coins will survive this bloodbath?

Are you looking at this as an opportunity to buy or are you panicking now

Let me know in the comments, I really want to hear your opinion