Crypto’s 80% Plunge Is Now Worse Than the DotCom Crash
The Great Cryptomoney Crash of 2k18 looks more and more like one for the record books.
As virtual currencies plumbed new depths on Wednesday, MVIS Crypto-Compare Digital-Assets 10 Index extended its collapse from a January high to 80%. The tumble has now surpassed the Nasdaq Index’s 78% peak to trough decline after the dot com (.com) bubble burst in 2000.
Like their predecessors during the Internet stock boom almost 2 decades ago, crypto investors who bet big on a seemingly revolutionary technology is suffering a painful reality check, particularly those in many secondary-tokens, socalled Alt Crypto Tokens.
“It just shows what a massive, speculative bubble the whole cryptocurrency thing was as many of us at the time warned,” said Mr. Neil Wilson, chief market analyst in London for Market.com, a foreignex trading platform. “It is a very likely a winner takes all market BTC currently most likely.”
Losses of Wednesday were led by ETH, the second largest cryptocurrency. It fell 6% to USD171.15 in New York, extending this month’s retreat to 40%. BTC was little changed, while the MVIS Crypto-Compare index fell 3.8%. The value of all virtual currency tracked by CoinMarketCap sank to USD187 billion, a 10 month low.
Does the plunge worry you at all? I got zero chills about it cause
If you know the future of cryptocurrencies you should be buying those dips. I got a cheap cryptocurrency source. It's not that am overrating myself, I am cool like that! Talk to me. Let me help you find better avenues of income streams. You gotta understand that we have to work together if we wanna go far.
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