Hangover after ICO: the market of crypto currency is experiencing a deep correction

In the past few days, the vast majority of crypto currencies continue to fall in price. So, all the digital assets included in the top 10 Coinmarketcap ratings have undergone a deep correction:

As can be seen from the data of the table, against the background of altcoins, bitcoin fell in price the least, which once again confirms its relatively low volatility.

The continuing drop in the price of most crypto assets has cast off market capitalization values to May values:

As can be seen from the screenshot, at present the aggregate market capitalization is $ 79 billion, which is comparable to the value of this indicator as of May 31, 2017.Recall, the correction of the market began on July 7-8. On Saturday, July 8, the total volume of the market capitalization of the Crypto-currency was approximately $ 94 billion. Thus, in three days the total value of the crypto-currency lost almost $ 15 billion.

Also earlier, ForkLog reported that according to Goldman Sachs analyst Sheba Jafari, according to the Elliott wave theory, the correction of bitcoin has not yet ended. Before appearing in the range of $ 3,212 - 3,915, the Crypto currency will reach the low of $ 1,857.