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One third of the market value lost as the slippery slope continues

The market is littered with red and declining figures and there seems to be no sign of hitting bottom yet. If we consider the charts, a third of the total market cap has been lost owing to the current crash.

Written by Becky Leighton Published on

What’s black and white and red all over?

At the moment, the answer is the cryptocurrency market.

The top ten cryptocurrency tokens took a nosedive in price valuation and trading sales following the assumption users are putting down to the controversial split of Bitcoin Cash. Since then, the tables have turned in the top three cryptos with Ripple taking second place and Bitcoin seeing the lowest figure it has in over a year’s time.

CNBC’s Cryptotrader Ran Neuner pointed out, there has been an entire third of the market which has been lost as the market crashes. Bitcoin has consistently lost day-on-day trading values of between 12% and 15%, it has dropped from a ranging $6400 USD to approximately $4400 USD during the course of today.

While most users are crying panic, there are Bitcoin advocates who believe this could either be a good thing or at least encouraging a calm sense. Andreas Antonopoulos believes that investors and traders should be kind and calm in this aggressive bear market as many people have lost out on various amounts of money. John McAfee of McAfee anti-virus thinks that this crash is a time of “winter” and a “glorious spring” is on the way.

Travis Kling, the CIO at crypto-assets management firm Ikigai, thinks that this is ultimately a good thing as it promotes healthy growth by getting rid of flakey investors.

With cryptocurrency, all things are relatively unpredictable owing to the volatile nature. One thing is for certain, at present, the market is not in a good way, and Antonopolous’s advice to keep patient and show compassion is sage.

Written by

Internet writer looking to find the right piece. Also presents things on radio and happens to be a chip off the old blockchain. @BeckyRLeighton

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