The crypto market has gone through downturns like this before but each time there are more retail investors onboard and a greater range of coins and tokens to choose from.

2017 was great for the crypto market, perhaps too great. Many startups that would have failed for the lack of funding by now had been kept afloat by the massive Bitcoin bull run. As long as prices go up, they can keep bleeding tokens and using them to prop their projects up.

We saw BitConnect throw in the towel last night. I wonder if a sustained crypto sell off will trigger a pruning of the ecosystem.