cryptocurrency market cap at $100 billion... Are we bottomed yet?

[cybersofts]

Today, December 15, 2018, the cryptocurrency market capitalization slumped down to $100 billion.
The market that once held $840 in capitalization yet only has a $100 billion due to the market correction.
What y'all guys thinking? are we bottomed yet? or we still have some few more miles to go?    

[figmentofmyass]

Today, December 15, 2018, the cryptocurrency market capitalization slumped down to $100 billion.
The market that once held $840 in capitalization yet only has a $100 billion due to the market correction.
What y'all guys thinking? are we bottomed yet or we still have some few miles to go?   

i think we're very close to putting in a bottom, but not because of the market cap. that would just be a coincidence.

we're in a huge support zone and shorts are heading back to ATH again---despite new lows getting bought up. maybe we need to wick through $3k first, maybe not. but there are good technical reasons for a bottom here. you'd have to be crazy to keep shorts open.

[magneto]

Today, December 15, 2018, the cryptocurrency market capitalization slumped down to $100 billion.
The market that once held $840 in capitalization yet only has a $100 billion due to the market correction.
What y'all guys thinking? are we bottomed yet? or we still have some few more miles to go?  Roll Eyes 

I don't really see total market cap of the entire crypto market being a useful indicator of what we are right now with bitcoin.

But anyways, no, I don't think that $3k is the bottom. There is every chance that prices will continue to dip before finally recovering. There is still a lot of bearish sentiment within the market that doesn't seem to be gone any time soon, and there is still quite some volatility which is not characteristic of bottoming markets.

Again, I'd say that we're fairly close at the moment to where the true bottom is, given that this bear market has essentially gone on for the entire year. However, I would not expect there to be a sentiment shift within the market until at least late 2019, or 2020. Thus, a bullish trend reversal doesn't seem very likely any time soon. We could be heading to test the $3k support at any time, still.

[Rozita]

Cannot predict the market by such numbers. 100 billion dollar might be the bottom. But we don't know. The bottom might be 10 billion dollar. There are many other factors determining prices.
100 billion is just a number. Nothing more. We cannot predict the market only according to a number. Whales should decide.

[cellard]

As far as the global cryptocurrency marketcap goes, I see it still very inflated. There's too many shitcoins out there with value which should be at 0. Just on the first cryptomarketcap webpage you can see too many projects which I fail to understand why have value.

Bitcoin must go back to around 80% given the lack of other groundbreaking alternatives. I can understand a 20% of projects out there that aren't Bitcoin due Paretto's law applying, but 50% BTC dominance is still on the low side.

The BTC bottom itself may still not be in as well. I will start thinking about the bottom if we get past $6k.

[BrewMaster]

the "cryptocurrency" market cap has NO CAP because there is NO CAP on how many shitcoins you can create and there is also NO CAP on how much supply each of them have and also there is NO CAP on what percentage of it can be fake/premined.
as a result the total market capitalization of this market will continue to grow as long as people throw their money into useless shitcoins that keep on being created and then end up with big bubbles like last year with a big fake total market cap.

[exstasie]

As far as the global cryptocurrency marketcap goes, I see it still very inflated. There's too many shitcoins out there with value which should be at 0. Just on the first cryptomarketcap webpage you can see too many projects which I fail to understand why have value.

If you're applying that kind of thinking to altcoin markets, you'll never be able to recognize the bottom. They're never going to $0. They'll just drop to nearly nonexistent volume and everyone will forget about them. And then they'll bubble again.

You can't approach this rationally and based on current fundamentals. Markets are irrational, and what matters most in cryptocurrency markets is hype and speculation about future fundamentals.

[dewildance]

Today, December 15, 2018, the cryptocurrency market capitalization slumped down to $100 billion.
The market that once held $840 in capitalization yet only has a $100 billion due to the market correction.
What y'all guys thinking? are we bottomed yet? or we still have some few more miles to go?    

I hope that we already saw bottom price. I think this is enough to wait. A lot of people are scaring of Bitcoin investment now. Because of only last correction. It lost same its value as before a few times. But it never fall like this. It has lost its value about $17.000. Such a big amount!

[Herbert2020]

you can not decide whether we have reached the bottom or not based on the total cryptocurrency market capitalization! it would be like trying to decide whether this is the bottom based on whether or not today will rain

we may reach $70 million and still not be at the bottom since about 45 million of the 100 million belongs to altcoins that are still pretty pumped up and can continue dumping for a couple of more months.

[cindygirl]

There are some positive signs that it could have been the bottom with the significant market gains in the last day or two. Though I think it's much too soon to put any weight behind it. Market needs to recover much further for any hint of bullishness to return, BTC price breaking $4500 seems like a big step along the road. Soon 2018 will be behind us and I think whatever happens that 2019 will be a better year.

[dothebeats]

I'm afraid we're not bottomed yet, albeit the recent signs of life in the support zone of $3100 that I'm seeing on some exchanges. We managed to push it back a little to $3400 today, though I think that in the last 2 weeks of the year, we'll be seeing some slump down to $3000 just like what happens every year. Last week of January would be one of the deciding factors whether we'll be weathering this bear market still or whether Bakkt can change some of the tides for bitcoin and other crypto.

[leea-1334]

Do not worry. People waited this whole year for history to repeat itself,,, but nothing happened. Also spring or January was not always a dump historically or did we forget 2017 so fast already?

2019 is a long year and so many unknowns. Maybe lightning network grows. Maybe futures and ETFs happen, maybe not. But you can bet we will all be surprised at what happens no matter what!

[Xardasim]

Today, December 15, 2018, the cryptocurrency market capitalization slumped down to $100 billion.
The market that once held $840 in capitalization yet only has a $100 billion due to the market correction.
What y'all guys thinking? are we bottomed yet? or we still have some few more miles to go?    

Today 18.12.2018 and the market cap is 115.207.323.682$. 
In my opinion ''hope'' should be the last thing we lose. First of all, when we started crypto trading, we understood that we should invest money which afford to lose. Secondly, the price will recover, because the price is only the reflection of psychology and if we know how to heal our psychology, the price will also recover.

[cluit]

Today, December 15, 2018, the cryptocurrency market capitalization slumped down to $100 billion.
The market that once held $840 in capitalization yet only has a $100 billion due to the market correction.
What y'all guys thinking? are we bottomed yet? or we still have some few more miles to go?    

[im g]https://i.imgur.com/vqpFdv0.png[/img]

There is no market cap that would signal a bottom for us. It could reach all the way down to 10 billion dollars for a total marketcap and what would be the thing that stops it? I mean the "common sense" tells us that this looks like the bottom and it can't go any lower but last time we said that it dropped almost 50% and we need to recover about 100% or so to get back to what we used to be just a month ago.

Hence, the answer to this question is if we think logically this should be the bottom and we should not be going anywhere lower otherwise it would be too shocking for all of us and would be difficult to recover. However if we are going to speak technically, technically it could all go down to a thousand dollar marketcap, not probable but for the purposes of math and technicality it is possible.

[playboy654]

I don't know we reached the bottom yet or not but I have belief that the prices will be going to bump in the first quarter or 2019 to next level that is why I am already started to invest on bitcoin and some other coins like ethereum and litecoins as well.

[magisterr]

I think this is was the buttom. May be crypto will down a little more before Christmas, as people want to have some money for gift... But we will definitely started grow in the beginning of next year. May be like in last bullrun in January 2018

[cindygirl]

Thinking about more the events of today and the timing is starting to make a little sense. It's in line with roughly how long BTC took to bottom in 2014 but more importantly it is unexpected. Even the most bullish of people thought we'd see the price dipping to the mid to high 2000s. The bears were calling 1000s or even triple digit figures. The market always reverts when people don't expect it and when negativity or positivity is approaching its maximum

[Lmaooo]

Thinking so. I believe from now on the bearish market is over for the bitcoin and the other cryptocurrencies as the market is showing good signs and strong momentum from the investors.