Opinions

Bad Day For Cryptocurrencies

November 15th was thought to be the worst day for cryptocurrency investors and enthusiasts.

Not anymore.

There is more bad news.

Cryptocurrency charts have gone lower.

Welcoming December with an all around red.

Bitcoin? Red.
XRP? Red.
Ethereum? Red.

The list goes on until:
Tether: Green (oh the irony)

At the time of this writing, $17 billion have been lost since the sun dawned.

All cryptocurrencies (except stables) have lost 7 to 15% of their market cap.

Top 10 Cryptocurrencies
Source:CoinMarketCap

For Bitcoiners, the currency has hit the lowest since Oct 2017. Also, the price is  treading into rarely visited $4000-5200 territory.

And to think that the general vibe of the investor-sphere after November 15th was a bull run.

Bitcoin Chart
Source: CoinMarketCap

Ofcourse, there’s a mixed reaction from people. Some, who are very small in number, are optimist that this is just a market manipulation to make for a bull run for Bakkt release. Others, not so.

This high-risk behavior of cryptocurrencies is making it more and more difficult for general adoption to set precedent.

Keep Hodling. We never know when the time comes.

Show More

Sarim Mehmood

An electrical engineer to be. Sarim is a blockchain & crypto enthusiast and an early investor in ETH and Ethereum based projects. Email: sarim@blockpublisher.com or contact the editor at editor.opinions@blockpublisher.com

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.