Will recover if the market. Capitalization of the sector fell to a new low
The total value of the cryptocurrency fell to $219 billion, the last time it was as low in November last year. Digital money has lost 73% of the price in seven months
Thursday, August 9, the total capitalization of the cryptocurrency industry fell to an annual minimum of $219 billion. At the end of July, it exceeded $300 billion, and in January was above $830 billion — for a few months, digital money fell by 73%.
This resulted in a fall in the price of bitcoin, the coin is now trading at $6300, is significantly below the historical maximum value of $20,000, which was established in December 2017. After the first cryptocurrency and altcoins fell in price — the average price for Ethereum is $355, the last time it was as low in November last year.
Ripple is worth $0.33 in it is almost 11 times below the record of $3.73. The rate of the token is the EOS, which at the end of April rose to $21 in three months fell by almost four times — now it is at the level of $5.5. Altcoins fell stronger than bitcoin, so its market share increased to 49%.
The rate of most cryptocurrencies is falling over 2018, it could be affected by several factors: pressure from governments who are trying to start to control the market, major hacks of exchanges and cryptocurrency wallets, the decline in investor interest and trading volume.
The last time bitcoin fell sharply after the Commission on securities and exchange Commission (SEC) has postponed a decision on launching a bitcoin ETF. The second meeting will be held on September 30, but many experts, such as the head of Pantera Capital Dan Marched and analysts from major canadian company, Canaccord, believe that this year we should not expect approval of a new investment instrument.
More news from the world of digital money you will find in our telegram channel RBC-Crypto.