Indeed, that week saw what could be described as a yo - yo effect for crypto - prices, given that significant declines were followed by subsequent jumps in
the overall value of the cryptocurrency market.
Not exact matches
He made a good point in highlighting the fact that, despite all the attention being paid to
cryptocurrencies, the
market value of Bitcoin and
cryptocurrencies overall is far smaller than the stock
market.
Cryptocurrencies have lost some fiat
value over the past few days as the entire
market of over 1,500 digital assets has shaved billions off the
overall market capitalization.
Overall, the total
market value for
cryptocurrencies and tokens combined has soared to more than $ 120 billion from just under $ 20 billion at the beginning
of the year.
As the 68th US Secretary
of State John Kerry told Cointelegraph earlier this week at the summit, the sheer
value of capital that has been poured into the
overall cryptocurrency market has made it impossible to ignore.
Overall, the
cryptocurrency market was down over the course
of the week with bitcoin (BTC) losing around 10 percent
of value and most major altcoins dropping 10 to 15 percent.
Every year, during January, the
cryptocurrency market takes a significant hit in terms
of overall value.
In the space
of a week, the
overall cryptocurrency market capitalization (according to Coinmarketcap data) had dropped to $ 276.8 bln, losing over $ 100 bln in
value in that timeframe before seeing gains
of over $ 100 bln today.
He believes crypto is a massive bubble and it could explode with an epic slide, wiping more than 90 %
value from the
overall market cap
of cryptocurrencies.
Cryptocurrency mining has become an integral part
of the
overall crypto
market as the
value of cryptos increased several folds in 2017.