Is the long-awaited ‘fall in cryptocurrencies’ finally happening?
The events of the last few days provide enough concrete evidence to say that the answer to this question is yes.. Cryptocurrencies have experienced an overall decline, big and small.
The total market value of cryptocurrencies in general fell to 91.4 billion dollars yesterday. Looking at the $1172 billion peak market cap in mid-June, we see a 20% drop. Based on the value of 105.3 billion dollars, which is the opening figure of the day, there is a 13% decrease.
According to the data of CoinMarketCap, the top 20 exchange rates of cryptocurrencies have decreased in the last 24 hours.
CryptoCompare‘s CEO Charles Hayter He said that the explosion of interest in money has consequences.
Another view offered was that “people who wanted to make a lot of money in a short time and were not aware of what they were getting into experienced losses when they retreated to the corner of big investors”.
Bitcoin 4% was down while we were writing this article, while Ethereum Blockchain was losing 10%.
Dividend
Hayter’s comments were echoed by other people. People were greedy to make a profit.
Shuttle Fund Advisor‘s chief investor, Brad Chun, took a completely different view.. He said that he believes the major stock markets are going down to reduce the profit share. >
Is the Rise Ending?
Although there has been a huge decline in the market in such a short time, the crypto money market is growing 400% a year.
Citing the best example of optimistic thinking,
Redwood City Ventures founder Sean Walsh says:
“Drops and fluctuations in every investment livable. Even if this is a constantly rising investment like cryptocurrencies. Investments sometimes pause to catch their breath. This is a similar situation in what happened.”