Business & FinanceSpotlight

Mid Day Market Crash – Major Currencies Going Blood Red While Stock Market Follows

Most of the currencies have shown a major plunge today with huge negative percentages. The currencies like XRP and BCH which were previously among the crypto hot favorites because of the exponential growths have also almost reached their initial valuations.

src: coin360.io

Previously, the volumes of XRP and ETH were closely battling out their volume war but with the recent market plunges, XRP has taken major hits. Two days ago the market cap of XRP landed on $19 billion while ETH was still near $22 billion. Upon asking Thomas Power, the board member of 9 spokes, crypto enthusaist and analyst, what he thought about the volume and valuation plunge, Thomas replied that the currency’s market cap is $19 billion which is hardly any plunge at all. The currency has yet to face the worst. According to the analyst, he is a bear for everything in the crypto market as of now. Talking to BlockPublisher, he put forward his predictions relating to the coin market saying that,

I’m a bear for everything. Expecting 50% fall across the board and shorting all of it.

The prophecy made by Thomas Power when the market was still stable seems to be coming true as the crypto market has fallen 7% on average per currency and is on roads to the 50% fall across the board. Further predicting the currencies’ individual valuations, he said that BTC would fall to $3000, while ETH would plunge to $100 and following the trend, XRP would go down to $0.25.

Not only have the cryptocurrencies shown negative growth factors, but the overall stock market has also crashed. Major companies have faced loss in their stock’s valuation. The info-graphics show that a high percentage of the stocks have gone down.

src: barchart

Not only had Thomas predicted the crash of the coin market but a while ago he also predicted, he recently said in his conversation with BlockPublisher,

Falling to BTC $3000 $ETH $100 then rising during the crash of 2020-2022.

Is the coin and stock market in for a huge anticipated crash? Only time will tell.

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Shehryar Hasan

Performing artist, guitarist and sub-editor at BlockPublisher. Shehryar is an electrical engineer and blockchain enthusiast. He holds investments in bitcoin, ethereum, OST, TRX and Ripple. Email: shehryar@blockpublisher.com or contact the editor at editor.news@blockpublisher.com

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