The total cryptocurrency market is currently in the middle of a correction that is causing major panic across the community but is also majorly upsetting the long-time crypto enthusiasts. Is this the worst crypto crash we’ve experienced?
The crypto crash started back on the first week of January 2018 and has been dropping ever since. Today, the total crypto market hit a year-low at around $200 billion. The last time the market was at this price point was back in early November 2017.
There have been some bearish corrections in February, April, and May, but the majority of the market’s movement this year has been downward. Overall, the cryptocurrency market has lost over $600 billion in value.
A cryptocurrency investor and analyst had something to say about the downtrodden cryptocurrency market and its comparison to previous bear markets. https://twitter.com/iamjosephyoung/status/1037734895357812738 Another individual, by the name of Gregor Zupanc, responded with a graph from previous years. https://twitter.com/gregzupanc/status/1037744107685330944 Zupanc also provided more data to back Joseph’s stance.
https://twitter.com/gregzupanc/status/1037745574076928001 Others on the social platform chimed in on the discussion, saying: https://twitter.com/aballeezy/status/1037762096174428162 https://twitter.com/NickValantine/status/1037749665620471808 https://twitter.com/bestbestman/status/1037735611480731648 While this correction is MUCH more money, the figures from the graph show the actual percentages of losses. This downward movement could continue and could be the worst correction in crypto history. We shall see.
What’s to Blame for the Crypto Crash?
Cryptocurrency hit mainstream media back