Hey guys,
I took some data from www.coinmarketcap.com to try to understand how the money flows during a crash of the crypto-market. On the 9th of May the alt-coin market peaked at 12:32 am and crashed rapidly to finally bottom out at 7:47 am. During this time period the alt-coin market lost a market-value of 21% and the bitcoin's market-cap increased in value by 3.22%. What intrigued me the most is that only 16.7% of the money went from the alt-coins market to the bitcoin market. 83.3% of that money left the crypto-market all together. I was surprised because to me such a drastic exit of the space shows that most of the money in alt-coins comes from investors who don't really believe in crypto-currency, nor actually use the coins for their intention. Bitcoin's value comes from investors believing in it and people using it. I think the alt-coin market is really only worth 10% of it's current value.. I put an excel table below to show my quick calculations.
