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On December 17, 2017, less than a year ago, the culmination of crypto-rally was reached. There, the most popular and popular cryptocurrency – Bitcoin – reached its highest record – nearly $ 20,000 per market capitalization. At the beginning of the year, the price of Bitcoins had fallen below $ 13,000, to over $ 17,000 in January, but since then, digital currency has been miles from its peaks.
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Bitcoin price has dropped more than 80 percent
Since September, the price of bitcoin has been below $ 7,000, which means it has lost more than 65% of its value since its record high. But that's not all: it was only in November that the main currency of encryption fell even lower. Only the $ 6,000 mark went down in history, then the $ 5,000 mark and, most recently, the $ 4,000 mark, when the November 25 Bitcoin revealed a $ 3,447 price tag.
Bitcoin was nearly 82% lower than its highest value – a major setback for cryptographic community members who still hope the bitcoin price will be restored and the digital coin will reach unprecedented highs over the $ 20,000 mark. The dollar could increase. And also in terms of market capitalization, Bitcoin burns decent cash since its heyday: on a market capitalization of about 330 billion US dollars last year, there is only one fifth of the 70 billion dollars US.
This seems bad for the crypto world
But Bitcoin is not the only digital badet to have suffered much. His colleagues in the crypto market also suffered heavy losses in 2018. For example, the second-largest cryptocurrency currency, by market capitalization, has lost nearly 90% of its value and is currently trading well below a dollar. And the famous crypto-monetary ether, based on the chain Ethereum chains, has lost more than 90% since January and is currently trading at just over $ 100, against highs over $ 1,400.
Looking at the market capitalization of all digital coins traded, the loss that cryptocurrencies have caused this year is frightening. At the beginning of the year, the market value of all the crypto – currencies exchanged was $ 830 billion. But currently, there is only one fifth of the stock market value: the market capitalization of all crypto-currencies does not even exceed 130 billion dollars. [26.11.2018, 13:10 MESZ]This is less than the only market capitalization of Bitcoin at its highest levels.
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Some reasons explain the decline in demand for cryptocurrency. The fear of regulation certainly comes first for most, while others do not dare to enter the digital currency market for fear of fraud. Hackers on large cryptographic exchanges are not uncommon, the decentralized ownership of crypto-currencies does not see all interested investors as an advantage. The new price cut of less than US $ 4,000 is mainly due to Bitcoin Bitcoin's controversy over a difficult Bitcoin range, which must also be split into two digital badets. But a Bloomberg report that the US Securities and Exchange Commission (SEC) is considering a possible manipulation of the price of bitcoin by the cryptocurrency bond, which is tied to the US dollar, is certainly one of the reasons why investors are skeptical about digital badets.
Although crypto-bears may say that they have always said, there are still crypto-bulls confident who are confident that the crypto market will soon improve again. No one can say what will happen, but it is clear that the fall of Bitcoin to less than $ 4,000 and $ 700 billion of total market capitalization should curb even the most compelling crypto enthusiasts of their euphoria.
Theresa Rauffmann / Editors finanzen.net
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