The cryptocurrency markets’ combined capitalisation dropped by 59% in Q1 2018, shows the Coinmarketcap data.
Was it because of Bitcoin?
Not only. Bitcoin indeed has lost around 50% in value since the beginning of 2018, however a number of prominent altcoins plummeted by 70% in Q1.
Why is it important
The total market cap in early January was approximately $610 billion. Not it’s fluctuating around $250 billion. In the market dominated by bears, crypto owners are being truly tested in the rough waters.
What can we learn from it
- Even a growth like the one we saw in December can guarantee stable earnings in crypto markets. Keep your trading strategy flexible!
- During the market cap drop, Bitcoin managed to recapture its dominance, ETH – to recapture a second position, while Ripple and Bitcoin Cash experienced losses over 70%.