Panic. This word is best suited to describe the situation that prevailed in the cryptecurens market last week. The market, which had long been in a state of rest, began to collapse rapidly on Wednesday, November 14th. That day, the cumulative capitalization of all 200 billion dollar crypted currencies dropped to $ 180 billion and continued to remain at this level until Sunday, November 18th. It seems that many investors have come up with a hurricane after a bit of market crash, but the main strike has fallen on Monday, November 19th, when the capitalization of the cryptosurgery market began to collapse rapidly. On Wednesday morning, November 21, the total value of all crypted currencies was $ 144 billion, last such low value was recorded on October 5, 2017, before cryptotransparency started. It should be noted that the maximum value of the $ 833 billion capitalization of the cryptographic market reached on January 7, 2018. Based on this we can conclude that the drop was more than 80% of the maximum point. The main factor contributing to the collapse of the market is a significant drop in Bitcoin (BTC). The "First Encrypted Value" has lost about $ 2,000 a week and fell to the last value registered on October 5, 2017. Such a correlation between Bitcoin (BTC) and total capitalization of the crypt valued market is not overwhelming if Bitcoin (BTC) occupies more than 50% of this market, and the top 3 cryptosculptures occupy more than 70%. However, most of Altcoin's (well-established among cryptosupported investors, the name of the cryptographic stock exchange, other than Bitcoin (BTC)) has no fiat pairs on the stock exchanges, but is traded with Bitcoin (BTC) and thus a fast fall in Bitcoin (BTC) it affects them, causing panic in the market.
Snow last week may require a significant amount of time to return investors to trust in the cryptotal currency. Bearing in mind the fact that many investors came to this market in the period from December 2017 to January 2018 when the prices of cryptovalued assets reached its peak values, many of them lost more than 50% of initial investment. Selling such investors in cryptosponse assets in the falling market, to save at least some of the investment, analysts are called as one of the reasons for such a powerful collapse.
Randomness (or not?) Randomness, the beginning of the collapse came on November 15, 2018, the day when hard rock Bitcoin Cash (BCH) came. Developers of Bitcoin Cash (BCH), who were themselves the result of bitcoin's hard forks (BTC's move), failed to reach a consensus on the development path and were split into two groups, announcing their version of Bitcoin Cash truly true and proclaiming war to each other . The war, with the mud throwing each other into the media, in increasing the computer's power to blow its "correct" version of Bitcoin Cash (BCH). Due to the sharp fall in Bitcoin Cash's (BCH) price due to the conflict that had arisen, miners were at a loss. This circumstance allows some experts to express the view that the leaders of both opposing Bitcoin Cash (BCH) "groups" having significant Bitcoin reserves (BTCs) began to sell them quickly to buy or hired computer power to win the "Hashwar War" Hashwar is the name given to the cryptovalent community of events taking place). If the catalyst for such a big collapse of the market really was the ego of two people, then the market of cryptoremaking has bigger problems.
The total capitalization of the market for crypto-market markets on Wednesday, November 21, was $ 144 billion compared to $ 211 billion a week earlier.
1. Bitcoin (BTC). Digital gold has updated annual minimum amounts. The Bitcoin Cost (BTC) for the first time dropped to $ 4,400 in the previous year. The fall, which began on October 15, stopped for a few days near the $ 5,500. The second phase of decline began on Monday, November 19th, and was in full swing on Wednesday morning, November 21st. At the same time, the fall in the value of "the first cryptosphere" can continue to reach $ 1,500. This opinion was expressed by Bloomberg's analyst Mike McGlone. According to him, the destabilizing factors were the bitter Bitcoin Cash (BCH) and the release of financial reports by Nvidia, one of the leading mining equipment suppliers, reporting large quantities of unprocessed products and showing a sluggish sales forecast for the current quarter.
The course on Wednesday, November 21, was $ 4,385 for 1 Bitcoin (BTC), which is 31.1% less than a week earlier. At the same time, the share of Bitcoin (BTC) in total market capitalization of cryptography increased by 52.3% to 53%.
2. Ripple (XRP). Yes, it was Ripple (XRP), which is the second time in the past week category in cryptology. In the light of the general fall, XRP losses do not look so scary. In the previous seven-day period, he lost 14 percent, while for the first few days he played the first wave of market drops, returning on November 18 to $ 0.50 with which he started a week. However, another wave surprise him and dropped to $ 0.44. But after that, XRP has every chance to use turmoil and win second place, especially Wednesday morning, November 21, Ripple's capitalization (XRP) was $ 17.7 billion compared to $ 13.7 from the former 2, Ethereum.
Over the course of the week, Ripple (XRP) costs fell by 14.31% and reached $ 0.437 in Wednesday morning, November 21, while the share in the total capitalization of the crypt security market increased by 2 percentage points – up to 12%.
3. Eteum (ETH). Digital oil lost 36.8% of the price, thus joining the club club club, which lost more than 80% of the maximum price. Such a significant decline did not pass without consequences, Ethereum (ETH) lost its traditional second line in the rating of capitalization of capital letters.
Starting at $ 207 a week, until the end of the seven-day period, on November 21, the cost of "ether" dropped to $ 132. The share of ether in the total capitalization of the crypto market has also decreased over the past week and was 9.3%.