Carnage?
As for today almost every cryptocurrency is losing value. Interesting though that Bitcoin has preserved its value nicely. (-2.08%).
In the past months we have seen an uptrend and a bubble. Many cryptocurrencies can't really deliver and are pumped by experienced bulls , thus it's highly likely that markets will fall.
You can see in the picture below that the dominance of BTC rises and is currently over 43%.
In the News
Panos Mourdoukoutas, explains why Bitcoin has beat other investments such as stocks, bonds and in some ways, gold included:
“Bitcoin has left stocks, bonds, and gold in the dust in 2016. The digital currency has more than tripled in value, while the S&P 500 and SPDR Gold Shares rose in upper single digits; and all three investments outperformed the iShares 20+ Year Treasury Bond, which declined in value.Then there are the renewed concerns over the break-up of trade wars, and the return of the old fiscal easing and huge budget deficits that feed into inflation, which undermines faith in national currencies.”
Cryptocurrencies Still Not Going Anywhere as Volatility Disappears
"The most valuable coins are still trading in very narrow ranges today, as last week’s correction still dominates the market, although the low volatility environment more resembles a continuation pattern than a pause before another leg lower "