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.
1/3 of the market been wiped out since Friday. pic.twitter.com/mW29roUl9b
— Ran NeuNer (@cryptomanran) November 20, 2018
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.