Economy 03-12-2018

"The worst investment of the year": cryptocurrencies lose almost $ 700,000 million in a year

Since the beginning of 2018, the capitalization of cryptocurrencies has been reduced sixfold, from 826,000 million to 135,000 million. This is the most dramatic drop in the history of digital currencies and the situation can still get worse, the experts estimate.

The last weeks of November became a truly black age for all those who planned to buy Christmas gifts with the profits of cryptocurrencies. At the beginning of December, the value of the most popular cryptocurrency , bitcoin , was close to $ 4,200, which represents a fall of almost 5 times compared to its annual maximum recorded on December 19, 2017: $ 19,655. for a bitcoin.

The same as 'black' turned out to be the last week of November for the other five largest cryptocoins per capitalization. The Etherium fell from a maximum of $ 1,358 to just 106, that is, 12.8 times; the Ripple, 14 times, from $ 3.64 per unit to 37 cents; the Stellar fell about 6.2 times, from 87 to 14 cents; finally, Bitcoin Cash dropped almost 23 times, from 3,649 to 167 dollars.

The expert from the International Finance Center, Olga Prójorova, told Sputnik that this drastic fall is due to the fact that the cryptocurrency market was overburdened with the money of non-professional investors who rushed to get all their capital out as soon as the value of the Digital currency stopped growing.

"In just one week the bitcoin lost 26.24% of its value and was at its lowest price in the last 14 months, since its value fell by 70% in total since the beginning of the year. purchase, with the hopes of obtaining a quick and large benefit, turned out to be one of the worst investments this year, "summarized the specialist.

Little by little, in the market are only the true enthusiasts of cryptocurrencies, as well as institutional investors, who promote their blockchain or blockchain technology products, he concluded.


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