[2018-11-20] Another $25 Billion Wiped Out: Crypto Market Suffers From Large Sel

[cybersofts]

Another $25 Billion Wiped Out: Crypto Market Suffers From Large Sell-Off



Over the past 24 hours, another $25 billion has been wiped out of the crypto market as major digital assets fell sharply in value.

Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), and Stellar (XLM) recorded a loss of 14 percent, 14.5 percent, 45 percent, and 10 percent respectively, demonstrating a large decline in both volume and momentum.

Bitcoin Cash Dropping More Than Any Asset
As expected, Bitcoin Cash SV, a hard forked cryptocurrency created by the Craig Wright, Coingeek, and Calvin Ayre camp, fell from $170 to $60 within a three-day span. As SV fell, the combined value of SV and Bitcoin Cash (ABC) fell from around $450 to $270, by nearly half.

Due to the contentious hard fork and the hash power battle between SV and BCH on November 15, the price of BCH dropped from $450 to $270, with BCHABC suffering significantly from the conflict. As Roger Ver, a renowned cryptocurrency investor and Bitcoin.com CEO said, “no one wins a war. Some just lose less than others.”

Based on current market conditions and the intensity of the drop over the last 24 to 48 hours, Bitcoin Cash and other major cryptocurrencies are expected to drop further in price, with BCHABC eyeing a test of $180 for the first time in its 15-month history.

Other large market cap digital assets like Monero (XMR), Tron (TRX), Dash (DASH), IOTA (IOTA), and Binance Coin (BNB) have recorded an average daily drop of around 16 percent.

The steep decline in the price of BNB is especially surprising in consideration of the fact that BNB remains the best performing cryptocurrency in all of 2018 ahead of Bitcoin.

From its all-time high, Binance Coin is down about 74 percent. In contrast, Bitcoin is down 76.5 percent and Ethereum is down 87 percent.


Reference: https://www.ccn.com/another-25-billion-wiped-out-crypto-market-suffers-from-large-sell-off/amp/

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[rodskee]

Another unexplainable effect of volatile fluctuations
Because of bitcoin price drops most of altcoins are affected
So this a proof if bitcoin die altcoins is alos dies
No ones can replace butcoin as king of cryptocurrency
All we need to do is patience and do not lose hope just hold on stay calm for this anither face of trial

[tyz]

First of all, I am not sure if it is allowed to post the entire (or a large part) of an article. Nor according to the article owner nor to the btct rules.

Secondly, it is fundamentally a misconception to think that really 25 billion have flown out of the market. Sure, the market capitalization has dropped, but considering the fact that many coins are not available at all or do exist only on "paper", about 1/10 of the actual losses of market capitalization is enough to cause such a big impact. Therefore one should abstain from such statements.

[shamc]

Binance was a good coin, it is interesting to see if i will recover. There are many coins from exchanges now like from kucoin and okex. Investors may decide to switch to something that an weather the storm like xrp

[InvoKing]

This drop isn't really important. In fact people including big whales will start buying soon and the price will rise again.
However, I didn't expect such huge losses in prices. Many cryptocurrencies' price losses are over 75% from the last time I checked it.

[1BTC EQUALS 1CAR]

I think this is all connected to the trade wars between USA and CHINA. It's not just crypto but also the US stock market are crashing down. There's a greater chance that most of the biggest investors of crypto are also doing stock trading so that's why there's a sell off that has been going on.

[Slow death]

This drop isn't really important.

the price is in the $4300 and may fall even more, this starts to be very scary, imagine if we go back to $1000? now the situation is much worse.

Binance was a good coin, it is interesting to see if i will recover. There are many coins from exchanges now like from kucoin and okex. Investors may decide to switch to something that an weather the storm like xrp

I also think binance a good coin, but I confess that I'm very surprised with XRP. XRP has not fallen much in relation to bitcoin, it has only fallen against the US dollar and this has surprised me. But I suspect that people are buying XRP because they think that with this they can minimize the losses, but when the market recovers, XRP will fall a lot.