President Xapo: 90% cryptocurrency closer to disaster

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The President of the company Xapo, operator of the cryptocurrency wallet, made a gloomy forecast for the altcoins, more than 90% of which, in his opinion, approached the limit of its existence. But the market decline is a good chance it is profitable to buy bitcoins, he added.

Ted Rogers (Ted Rogers) wrote in Twitter:

“Perhaps we are in the midst of the disaster to scriptactive, which many had predicted the maximalists — more than 90% from the list of CoinMarketCap will eventually disappear. May be it is happening now. Meanwhile, the reduction in the price of BTC means an incredible opportunity to buy more bitcoins”.

We could be in the midst of the extinction-level event for “cryptoassets” that many maximalists have predicted. 90%+ of the @CoinMarketCap list will disappear eventually – might as well happen now. Meantime, lower BTC price means incredible opportunity to buy more #bitcoin

— Ted Rogers (@tedmrogers) August 14, 2018

Indeed, the fall of the cryptocurrency market, continuing until the entire current year, led to the decline in prices of cryptocurrencies 70-90% of their maximum historical quotes (ATH). Most altcoins were on them in early January.

From dozens of the largest cryptocurrencies at the moment is the least declined in relation to their own maximum bitcoin price is 68%. And, for example, XRP and Cardano lost 93% of its value in relation to its ATH. Some well known altcoins are now outside the top-10, fell more: Bitcoin Bitcoin Gold and Dimond — 97%, Qtun and Icon — 96%, NEM — 95%.

Source: onchainfx.com

Price losses altcoins is well illustrated by the proportion of dominance in the cryptocurrency market, the first cryptocurrency — bitcoin. According to CoinMarketCap, 13 January 2018, she fell to 32.46%, and at the time of writing is 53,76%.

Source: coinmarketcap.com

We will remind that earlier the coming collapse 90% of the cryptocurrency predicted the Executive Director of the Bitcoin Foundation pour Klaasen (Llew Claasen). That most altcoins will disappear in the last year, said the current head of the audit chamber of the Russian Federation Alexey Kudrin. And Russian Prime Minister Dmitry Medvedev has predicted the death of all cryptocurrencies.

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