Market cap loss over last 3 days? - page 3.

webtricks

legendary

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Quote from: FractalUniverse on May 27, 2017, 05:48:13 AM

Any idea how many billions of dollars off total major cryptocoins' capitalization has been lost during last 3 days in this dump?
It has to be huge amount. I know the market cap is just virtual number, but still its staggering. If this happened in real world's markets, that would mean epic disaster for global economy.

You can easily ascertain market cap on CoinMarketCap for every cryptocurrency over any period.
By the way, this can never happen in real economy because estimated market caps as we measure in case of cryptocurrencies won't happen in real world. In real world, market cap is actually backed by equivalent money suppose if we say market cap of Google is $40 billion, it actually means total asset worth of Google is $40B. That is the reason why we don't see volatility as of Bitcoin in real world.

Lancusters

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We see an example of speculation on the market of cryptocurrencies. I'm not going to pay attention to it. If there is no panic then the price will quickly return to 2000-2200 USD per 1 bitcoin. If the price will fall and then it will be a good opportunity to buy bitcoin and earn in the future.

X-ray

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Leading Crypto Sports Betting & Casino Platform

Quote from: FractalUniverse on May 27, 2017, 05:48:13 AM

Any idea how many billions of dollars off total major cryptocoins' capitalization has been lost during last 3 days in this dump?
It has to be huge amount. I know the market cap is just virtual number, but still its staggering. If this happened in real world's markets, that would mean epic disaster for global economy.

Looks all of the chart will rebound in this time, the bitcoin chart get green candle and more people will be trying to grab more bitcoin and make the market cap will increase again.
Don't worry all of that just common thing in crypto. It's always bounce

BitHodler

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Bitcoin's market cap dominance versus the rest (i.e. altcoin industry) doesn't say anything ~ from there Bitcoin hasn't lost anything, nor gained.

If you look at all the altcoins that have seen their market cap increase with billions of dollars, and look at how their actual usage is doing, then nothing has changed.

The slight increase of their transactions comes solely from the fact that people send coins from their wallet to an exchange, and vice versa. All usage is purely speculative.

FractalUniverse

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panju1: thanks for the link, interesting charts.

20-25% loss of total market cap is not that bad yet. looks like bitcoin returned back above 50% of market share, and biggest market share losers were litecoin and ripple.
So bitcoin seems to be coming out as relative winner from this crash.

Xester> it will take probably several years. but if more people buy BTC for long term investment, supply of tradable coins on the market will become more dominated by trading whales. So maybe it needs to be not just distributed, but also much more widely used for buying stuff and other real life transactions.

Xester

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Quote from: FractalUniverse on May 27, 2017, 05:48:13 AM

Any idea how many billions of dollars off total major cryptocoins' capitalization has been lost during last 3 days in this dump?
It has to be huge amount. I know the market cap is just virtual number, but still its staggering. If this happened in real world's markets, that would mean epic disaster for global economy.

This just implies that bitcoin is not yet distributed to millions of people it just means that majority of bitcoins are at the hands of the whale. Time will come when bitcoin vastly distributed to holders there will be a stable trading just like gold. And when that time comes bitcoin becomes a normal currency being used by the majority of the people in the world.

panju1

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Quote from: FractalUniverse on May 27, 2017, 05:48:13 AM

Any idea how many billions of dollars off total major cryptocoins' capitalization has been lost during last 3 days in this dump?
It has to be huge amount. I know the market cap is just virtual number, but still its staggering. If this happened in real world's markets, that would mean epic disaster for global economy.

~$25 Bn. Coinmarketcap gives the aggregate market cap of the crypto world.
It has dropped from $85 Bn to $60 Bn, and it is still going down.

http://coinmarketcap.com/charts/

FractalUniverse

hero member

Activity: 1034

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Any idea how many billions of dollars off total major cryptocoins' capitalization has been lost during last 3 days in this dump?
It has to be huge amount. I know the market cap is just virtual number, but still its staggering. If this happened in real world's markets, that would mean epic disaster for global economy.

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