Why cryptocurrency prices are in free fall
Whether it be Bitcoin or Ethereum, every cryptocurrency has suffered massive losses over the past several days. Prices have dropped to as low as 64 percent, bringing the entire cryptocurrency market cap down to $70 billion from $110 billion.
Ethereum’s price has gone from $400 right down to $151 in about a month, leading investors to panic sell. On the other hand, Bitcoin, which dominates the cryptocurrency market is down about 36 percent from its high (it’s currently trading around $1,894). Investors are finding it hard to hold onto cryptocurrencies at such a low price — especially amateur investors who bought them at a much higher price.
More..https://venturebeat.com/2017/07/16/3-reasons-cryptocurrency-prices-are-in-free-fall/
Every single one of those numbers is very incorrect. Currently we are sitting at $88 Billion in market cap. Ethereum is at $208 and BTC is at $2593. Also you are wrong about why the price is dropping and if anything these prices should be viewed as a sale on cryptocurrency. If people are speculatively trading then they buy and sell every day and the volatility doesn't matter one way or the other and if they are investing in cryptos for the long run then this volatility means nothing to them right now.
Apologies. The article is a week old. Since the prices are still falling, I thought my points are still valid in the current scenario as well. Yes you're right, this can (and is) being viewed as the best time to buy cryptocurrencies, but if the split does happen, it will further lead to the devaluation of Bitcoin and all other cryptocurrencies. Again, you're spot on - it'd be beneficial for investors if they are buying in right now as a long term investment.
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