Cryptocurrencies’ $600 billion crash hits a new low

[royalfestus]

Its a very difficult season and I dont think the bitcoin enthusiast had ever experience this market slide. Even the market analyst and speculators had turn to liars because the markets looks quite different. Previously any bitcoin slump fortifies other altcoin but now we dont understand how the altcoin respond to bitcoin. It is beyond market manipulation and people are losing confidence, and people's confidence is very important in this market. 

[1714843976]

1714843976

[Pappy_1_]

Panic is our worst enemy. I agree that the situation in the market leads to fear, but it is necessary to suppress it and look soberly at the situation. It is too early to panic, because bitcoin has already fallen so low this year. However, I am very worried about eth and altcoins. But still, I am sure that soon everything will normalize and prices will go up.

[Carina.P]

In my opinion, the market for encrypted currencies will be further adjusted, and many people will decide whether to continue buying coins after the market adjustment is completed.

[mrhood]

I am not so surprised. Something like that should be happened so now we have this situation. I think everything will be ok here and all problems will be fixed.

[FruitSprite]

The crypto is going bad now. Prices have gone from previous years. It is estimated that $600 billion is lost from crypto. I think the crypto market will turn around. Such prices decrease and turn around. Until that time we have to wait.

[MatthewNaccarato]

if the news is true, this is very scary. but i don't think the situation of the market are bad at all what actually we thought. i think this is for short time. hopefully it will be ok.

[Goodwin54]

If we look at the past pattern of btc we can see that it goes up and down in a cycle. yes sure it is rapidly going down now, but it will go up again. currently btc is priced at $6427 and constantly dropping. Btc has went down from the start of this year. So i assume it will go up next year or so. But is is not as low as you are thinking. It is still good enough.

[GreenHarbor57]

Crypto Prices are suddenly decreasing rapidly` It’s harmful for crypto existence. Wish crypto will be come back again and it’s market value will be high.

[StrongImagine301]

Market value of crypto declining very fast and create some low value record. And it’s risky for cryptocurrency and it’s not still clear that crypto will survive or not.

[GalacticSight909]

"In crypto currency market value is reduced in a very low level its very disappointing its impact in crypto world will be bad but it will not be stable the price will rise soon.

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[leviathon]

Cryptocurrencies’ $600 billion crash hits a new low
A broad selloff in cryptocurrencies of all sizes reduced the market value of virtual currencies tracked by Coinmarketcap.com to $230 billion, the lowest level since November

Bitcoin retreated as much as 7% to $6,393.70 in London, extending its 2018 drop to about 55%. Photo: Bloomberg
Bitcoin retreated as much as 7% to $6,393.70 in London, extending its 2018 drop to about 55%. Photo: Bloomberg
Eric Lam, Bloomberg
Hong Kong: The 2018 selloff in cryptocurrencies plumbed new depths on Wednesday after the US Securities and Exchange Commission dented enthusiasts’ hopes for an exchange-traded fund backed by Bitcoin.

A broad selloff in coins of all sizes reduced the market value of virtual currencies tracked by Coinmarketcap.com to $230 billion, the lowest level since November. Digital assets have now lost about $600 billion since crypto-mania peaked in January, equivalent to erasing the entire market value of Visa Inc. twice over. (Shares of the payments processor are trading

It is because so many people are selling off the coins that is why the prices have gone down so much, there is way too much money leaving the market and not enough money coming in for there to be any significant increase in the price of the coins. It will take a while for us to make it out of this market.

[fiubit]

I suppose that there will be much more amazing and greatest hits bottoms because crypto is developing and its volumes are growing very fast now.

[vladaziya4]

You have to be careful with this, because it all affects your wallet, you can lose everything and always have to think about the consequences.This is a black market, it is always unpredictable, so you need to stick to it, because it is dangerous for the general market. Always think about it. 

[Kaller]

There are a lot of things that is going on in the market which are affecting the prices and one of those is the fact that so many people are dumping their coins and taking out so much money from the market. I don't think that the crash is done yet and the price of the coin is most likely going to go even lower with time. We should all get ourselves ready for the inevitable long bear market

[Byzantium101]

This is not a real crash for crypto, it has gone much lower in other years, but people only remember the good times and tend to forget that even stocks falled 90% in the internet bubble.

[patispace]

I have mixed feelings about it, because on the one hand this type of unexpected falls have scared the big capital that many were waiting for this year, which is a disappointing matter for those who dared to invest in cryptocurrencies at the end of last year. However, on the other hand it causes me some joy to see that the crypto-universe is being purified of the high speculation that was completely dominating the market, moving each crypto according to the whims of the capital, regardless of the technology or utility that supported it, and this would mean a breakthrough in the search for better technological solutions to the current economic problems, without the pressure that capital usually exerts for the pursuit of profits.

[irenegaming]

I think it is recommended that you post the sources so we can read in depth what you're posting, they can always be whales trying to manipulate the market, that sell-off are made to spread the fud and lower $500 on the price of bitcoin, the rare thing is that just after this sudden crash the market slowly recovers to reach $ 6500 again.

[ivannalog814]

It's just a correction ! The correction allows people to enter the market again and the market to cool down before a new price increase. It was obvious that there would be a correction with such an aggressive growth.