Bitcoin Forum

thats the amount of the decreasing marketcap in only about 2 weeks

what happend that the whole crypto space lost 40 billion according to numbers from coinmarketcap

You really don't know? People were warned about possible bitcoin network disruption and withdrew their money from exchanges. Many of them decided to move to fiat for a couple weeks, until the situation is resolved. Now, why didn't they switch to an altcoin like LTC or ETH? LTC is known as being easily impacted by BTC, so it's not the safest store when BTC is going down and ETH was experiencing a correction even before the segwit warnings were issued and BTC started to correct.
No worries, most coins are already recovering.

From one of my posts:

Data from the last 24h:

Total market cap of bitcoin and some unnamed shitcoins in last 24 hours
72 billions > 64 billions
24 hours trade volume 3 billions(including trading between shitcoins)

As I said it before...market cap and billions lost in market cap are good just for tabloid headlines

Two things happen:

(1) The significance of the market cap decline is touted on forum posts, blog articles, and news reports...the only tangible impact to anyone holding bitcoin is that their purchasing power just went down a bit...good thing we've seen this happen on this scale 3 times in the past!

(2) Bitcoin just got more affordable.

Don't be sore, buy some more!

Rest assured and do not mind the marketcap. It is just numbers and does not have relevance to Bitcoin at all. Many people are being fooled by that marketcap when in fact it does not have any worth at all.

Just an old panic selling happened lately because of the upcoming "August 1st" event. Nothing is to be worried about here.

I absolutely agree with you, a lot are panicking over nothing and the prices have already started climbing again, the marketcap is there for the statistics but doesn't really count in terms of effects on the prices of bitcoins.

Coinmarketcap is just a website to give users the idea of how much money has been involved in bitcoin and altcoins the last 24 hours. That 40 billion dollars is because of the price falling because people's fear about a possible fork chain in August 1. You will see that after August 1 prices will go up again.

No it isn't.  It's a site to give cryptocurrencies a ranking based on their market cap, and after that provide other useful statistics including the volume.

You can see clearly here (https://coinmarketcap.com/currencies/volume/24-hour/) that the 24 hour volume of cryptocurrencies right now is about 4 billion dollars.  At no point have I seen it surpassing about 6-7 billion dollars.

So how does the market cap drop by $40,000,000,000 in just a few days you ask?  Because market cap is complete and utter bullshit when it comes to cryptocurrencies, and it always will be.  End of story.

Too many people were spreading misinformation regarding the fork of bitcoin, A lot of people are trying to make FUD to the market to gives the panic sell from the weak hand. The crypto gets rekt due to the bitcoin scaling in august. Those newbies are want to cash out and buy back again at the price of bitcoin already lower. That makes all of the markets lost its market capitalization and the demand of crypto decrease a lot.

Can anyone here remember back to when they bought their first coins, how skeptical and unsure they were about the exchanges, wallets, and network? And most of us never had to contemplate what a possible fork meant while we were just beginning to understand the technology. Those who just bought in and drove the spike in price from 750 to 2750, they don't have that luxury. They just dipped their feet into something that was warm, and felt it get cold very quickly when it reached their ankles. . .

According to some experts, a whole new level of bubble was created in May and starting of June due to increasing speculation. This is the needed correction happening. Added to that FUD created by the speculation of fork and tons of negative explanation. People are panicking and converting their Bitcoin into fiat. And Bitcoin being the major one has its effect in altcoins as well.

Most certainly it will go up again because Bitcoin with the increased block size is going to be more attractive for new investors and the demand is going to drive its value do crazy after August 1.

what happened is that market cap is a fake number because of all the shitty altcoins. and these shitcoins were in a big bubble. a coin like ethereum has about 90 million tokens with about 80% premine and in the past month it has lost more than 60% of its value because it is getting dumped hard. and that means it has lost a huge market cap.

the same for 1000 altcoins and you have a big total market cap loss.