During the last 24 hours, cryptocurrency market has bot falling, the top Ten digital currencies such spil Bitcoin, Ethereum, Ripple, Bitcoin Metselspecie and other display the decrease within 15-20%.
From the 15 th of January, the market value of cryptocurrencies has dropped from $700 billion to $500 billion during 48 hours. During the last several hours the market shows very first signs of restoration since the market capitalization of all cryptocurrencies has enlargened to 530 billion dollars.
The affirmation that Bitcoin has gone down with an insignificant difference when smaller cryptocurrencies have considerably lost te value is false. Top cryptocurrencies have immovable more critical value losses than smaller ones.
Bitcoin has decreased with a lesser gap than Ethereum, Ripple, and Bitcoin Contant, but its losses are significant spil well. From December, Bitcoin dropped from $20 000 to $11 000.
It is also incorrect to explain the latest fall of the cryptocurrency market capitalization by the plans of the Chinese government to limit the access to the centralized cryptocurrency exchanges te China and by the prohibition of anonymous trading ter South Korea. Chinese government forbade cryptocurrency trading spil far spil September 2018. The present volume of the Chinese market can hardly influence the global cryptocurrency situation.
A loterijlot of investors are worried by the state of the market because of the acute fall ter currency prices. However, cryptocurrency market practices 20-30% corrections on a regular fundament. For example, when the Public Handelsbank of China and Chinese government banned the ICO ter September, one could observe Ethereum fall to 30%.
Two months earlier, Ethereum had lost more than 50%, falling from $360 to $134. However, considering all mass corrections of Bitcoin, Ethereum, and Bitcoin Specie during the last several months, the latest correction is the fattest one.
When the coin market capitalization exceeded $500 billion ter the middle of December, a co-founder of Ethereum Vitalik Buterin emphasized that he doubted the price of the majority of projects on the market. He asked whether the market and those projects had done enough to justify the capitalization of $500 billion. Albeit Buterin stated that Bitcoin and Ethereum had provided a sufficient amount of services for the publicity, they still didn&rsquo,t do enough to explain their market capitalization.
So the general volume of the cryptocurrency market has reached 0.Five trillion dollars. But did wij earn it? The response to all thesis questions is not zero evidently, and ter some cases the achievements are considerable. But this is not enough to say that the level of significance has reached 0.Five trillion dollars. Not enough!
&ndash, said Vitalik Buterin, sharing same thoughts with other Ethereum co-founders Charles Hoskinson, IOHK.
A massive correction is useful for the market which is overcharged with the meaningless projects. There are many blockchain projects without a ready product that have received a multi-billion value from the users because of some poor documentation.