Factors that Reduced Crypto Market Capitalization by more than 270% in 2018

2018-8-20 22:47

There has been hope that the cryptocurrency market capitalization could hit the one trillion dollars make in 2018 and even surpass it due to the bubble in the cryptocurrency market in Dec last year and in middle of Jan 2018.

However, this dream has been reduced drastically that most investors and traders could not believe what is going as as most of the top cryptocurrencies had lost more than 200% of their initial gain to the current market forces.

Some of the factors that has led to the decrease in the market capitalization of cryptocurrencies and crypto tokens so far in the beginning of year 2018 when it stood above $800 billion and it’s present value that is less than $213 billion as of the time of this writing, which represents more than 270% decrease are:

1) Drastic loss in bitcoin price: it is true that bitcoin has been able to retain its dominance in the cryptocurrency market. However, its changes in price has a strong effect in the entire market capitalization either to the positive or negative direction.

As at the beginning of the year when bitcoin trades above $19500 till now when it is trading below $6500, there is more than 200% loss. This loss in value of bitcoin has affected the market capitalization of the entire market.

2) Unsuccessful Coinbase Conference: there has been a correlation in recent years on the effect of this conference to the entire market capitalization. However, it was observed that unlike last year conference when the market picked up while the Conference was ongoing and August same year, that the opposite is the case this year, since the prices went down while the conference was on, and nosedived after the conference even though that there were speculations that the market will experience a good change after the Coinbase conference.

3) Panic in the entire market: there is strong panic in the market due to investors attitude to trading and investing in coins and mining activities. This withdrawal of funds by investors in other to minimize lose has contributed to a high degree reduction in market capitalization.

4) increase in government clampdown in China: China is one of the countries of the world that has early adoption of cryptocurrency activities by its residents and companies. The ban in all cryptocurrency related activities like trading, investing, mining, exchange, storing has reduced the number of cryptocurrency users which directly affected the volume of transactions done from Chinese crypto enthusiasts.

The post Factors that Reduced Crypto Market Capitalization by more than 270% in 2018 appeared first on ZyCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Global Cryptocurrency (GCC) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0014513 (-100%)

market 2018 capitalization reduced factors could cryptocurrency

market 2018 → Результатов: 126


Surviving Frostbite in the Cryptocurrency Market: Find the Simple and Manage Complex Assets

2018 has been a havoc-ridden year for the cryptocurrency market, going from the jubilant highs of December 2017 to January, and falling from that gracious point ever since. Now, with December 2018 been and gone, we're reminded both in the present and in retrospect of the fact that the crypto market has effectively slid down […]

2019-1-4 23:07


Фото:

Bitcoin Price Analysis: Is this a Relief Rally or a Bullish Reversal?

Bitcoin has recovered nearly 13% after scraping its knees on a new 2018 low, but is the current uptick in momentum just a relief rally or the makings of a bullish reversal? Market Overview After scraping the bottom of the barrel last week, Bitcoin appears to have mustered enough short-term momentum to attempt a bull reversal but, at the time of this writing, this is yet to be determined.

2018-7-4 10:00


Фото:

Bitcoin Price Analysis: New Low on Low Volume Breeds Potential Bullish Set-up

Bitcoin sits precariously perched at the bottom of the annual market low and many bitcoin investors aren’t sure what to make of it. Although the market seems to be continuing its drift to new lows with greater and greater ease, there are a couple of bullish signals worth considering while the market continues to consolidate: Figure 1: BTC-USD, Daily Candles, New Market LowOn Friday, June 29, 2018, for the first time this year, the daily candles closed below the annual low of $6,000s.

2018-7-1 19:35