[2017-12-22] Market Capitalization Declines by $150 Billion, all Cryptos in Reve

J. Cooper

full member

Activity: 294

Merit: 125

Alea iacta est

Quote from: 1Referee on December 23, 2017, 05:49:51 PM

It looks a lot, and it surely is, but it's pretty annoying that people always look at how much in total market cap we have lost, while no one is talking about how much we have gained this year. It was last year that Bitcoin had just a $6 billion market cap, did everyone suddenly forget about that? People at that time were going nuts on Ethereum because at that time its market cap reached a value of $1 billion, and then $2 billion. We made a mega jump forward, but somehow it's not that important anymore for people. Roll Eyes

Also, Ripple and various other coins, they didn't really reach an all time high. It's lacking information in the way that they explain that the all time high's of these coins are based on USD, and not Bitcoin. If we look at their Bitcoin value, they have a long way to go before they break through their previous all time high.

I think it's a part of human nature to easily take things for granted. Only when we lose something we realize what we had. This analogy can easily be applied in this scenario. The growth of the marketcap over the past year has kind of gone under the radar yet the last couple of days, when it came down 150 billion, suddenly everybody is talking about it. This only demonstrates how ignorant we as a species can be at times.

I completely agree with you on your point about some coins solely hitting USD ATH's. A lot of people get deceived by this. You correctly point out that ripple may be worth 1$ now but if it maintained itns bitcoin all time high of 14,000 satoshis it would be valued at roighky 2.5$ today.

1Referee

legendary

Activity: 2170

Merit: 1427

It looks a lot, and it surely is, but it's pretty annoying that people always look at how much in total market cap we have lost, while no one is talking about how much we have gained this year. It was last year that Bitcoin had just a $6 billion market cap, did everyone suddenly forget about that? People at that time were going nuts on Ethereum because at that time its market cap reached a value of $1 billion, and then $2 billion. We made a mega jump forward, but somehow it's not that important anymore for people. Roll Eyes

Also, Ripple and various other coins, they didn't really reach an all time high. It's lacking information in the way that they explain that the all time high's of these coins are based on USD, and not Bitcoin. If we look at their Bitcoin value, they have a long way to go before they break through their previous all time high.

secondgarlic

member

Activity: 112

Merit: 16

Well everything picked back up, while this piece was being written, probably

I think the increased confidence with which people returned to cryptocurrencies offset the decrease by a considerable margin. I mean, XVG went up by 150% within the last 24 hours. It's crazy.

DowBit

full member

Activity: 210

Merit: 101

The last few days were a great opportunity to earn money on altcoins. Many of them hit new peaks – IOTA, Ripple, Lisk, Verge…. this list goes on. This morning, the reality looks different. Investor’s blood ran cold this morning.

Investors often use the phrase “to the moon!” When the price of BTC and other coins increases. But as soon as the situation reverses, this shout turns into a desperate “hodl!” They’re usually right, but there is always a note of uncertainty.

This is how the world’s current situation cryptocurrency market looks. The 20% drop applies to almost every crypto. The exception in the top 10 is Ripple, but this is only due to the high growth that occurred before the start of the adjustment.

more: https://dowbit.com/market-declines-150-billion-cryptos-in-reverse/

Topic: [2017-12-22] Market Capitalization Declines by $150 Billion, all Cryptos in Reve (Read 98 times)