That's the end of Monday June 12, 2017. Today, the Crypto-currency market, showing steady growth over the past week, has confidently gone down. Of the 871 crypto-currencies on the site http: //coinmarketcap.com only 7 went up, and among them - Etereum. But with him, it's not so simple. At the time of writing, it costs $363.49, although in the afternoon it cost $414.76. So what is the rise in the current price, too, is not particularly obtained.
In general, the situation is rather strange and I can not explain such a sharp decline in the rate. Here are some examples:
- Bitcoin for the day lost about 13% ($408.3), falling to $ 2576.45 from $2984.75
- Steem from $2.46 fell to $1.99 (this is particularly offensive)
- Dash from $190 fell to $162.87 (-15.70%)
- Zcash from $330 to $ 280.12 (-12.32%)
Apparently, today the market of crypto-currencies has not badly shaken. Literally this morning I tried to predict the course by the end of the week(https://steemit.com/cryptocurrency/@hunternnm/forecasts-for-this-week-in-the-world-cryptocurrency-2017-06-12), but with the results of today my forecasts seem to be too painful optimistic. But the week has just begun, we will follow the courses and try to figure out what is happening in the crypto-currency market.
When Bitcoin drops in price, all other altcoins tend to drop too, since crypto is commonly valued in terms of BTC (i.e. If DOGE costs 100 satoshi, and BTC falls in price, but DOGE is still 100 satoshi, then the dollar value of DOGE on coinmarketcap will still drop).
All in all, I think today is time to buy! ;)
I do not think so, I already did it ;)
High Risk High Reward, I think it will stay volitile until more people understand more about cryptocurrenty
But even now, crypto currency is quite popular, is not it? The demand is almost equal to the proposal on many points
Might be long running pump'n'dump thingy?
Anyway chance to grab some coins whilst everyone is pessimistic
Well, many now buy bitcoin and zcash, suggesting their reverse growth. This is logical, looking back over the past week
This drop is nothing for cryptocurrencies. Happens very often. Just hodl if you believe in your coin.
Against the backdrop of stable growth, this fall looks a little scary. Everyone was waiting for bitcoin today at a price above $3000, and it slid to $2500
Awesome post brother thanks for sharing
Thanks for the awesome comment, brother ;)
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