Foto: ADragan

The price of Bitcoin has dropped by more than 50% since the beginning of 2018. and is the lowest since October 2017

The blockchain market in Europe will soon reach $ 3.5 billion. The increases are dizzy

The cryptocurrency prices depend only on the market sentiment - the author of the huge analysis convinces
The price of bitcoin has dropped below $ 6,000 for a while, and the cost of ethereum is below $ 300. Both cryptocurrencies have not been so cheap since October 2017, both in 2018 lost a lot in value. Together with them, red also shimmers the other 8 largest crypto markets on the market.

Ethereum in the last 24 hours, counting from 11.30, lost 17.77 percent, bitcoin 6.36 percent, 14.5 percent ripple, and bitcoin cash 15.43 percent. Bitcoin fell the lowest to $ 5,887 at 3:00 am on the night of August 14.

This is how the prices of the largest crypto present themselves, which were so low in the autumn of 2017 - just before the biggest bitcoin rally:

bitcoin: 6065 dollars

ethereum: $ 267

ripple: $ 0.264525

bitcoin cash: $ 498

Where did the crypto market go down? Bitcoin and ethereum are dragging down
This month, the price of ether dropped by 39 percent in total, bitcoin by 22 percent. Since the beginning of the year, the value of BTC has decreased by 55.38%, ethereum 64.84%, ripple 87.1%, and bitcoin cash 80.6%. However, this is nothing new, because cryptocurrencies regularly recorded declines in 2018.

Thus, the capitalization of the entire cryptocurrency market fell to 193.9 billion dollars, while in January 2018 it was ... 835 billion dollars. Currently, bitcoin is responsible for 54 percent. this sum, and ethereum for 14 percent.

According to experts cited by Bloomberg, the reasons for these inheritances are prosaic: for a long time, cryptocurrencies were, in their opinion, overvalued. In the case of ethereum, the agency also indicates that in 2017 it grew due to numerous ICOs on blockchain ethereum. Now, the ICOs have lost their popularity, and in addition, companies realize profits from issuing tokens, which causes capital to leave the market.

The current drops are also a confirmation that for large and institutional investors bitcoins and crypto-currencies are generally not, as many crypto supporters say, a "safe haven" in times of market turbulence. For several days, the markets have been declining due to the situation of the Turkish lira, and one bitcoin is still losing - which means that capital from traditional assets is not shifted to the crypto market.