Crypto Market Cap Takes Huge Nosedive Falling Below 200 Bln First Time in 2018

  • Alex Dovbnya
    📰 News

    Cryptocurrencies are caught in a death spiral

Crypto Market Cap Takes Huge Nosedive Falling Below 200 Bln First Time in 2018
Cover image via u.today

While during the December peak the total crypto market cap was nearing $800 bln, the numbers are way more humble this year – the persistent bearish trend made it plunge below the $200 bln mark for the first time since 2017. With almost all biggest cryptocurrencies suffering from double-digits losses (the Ethereum price fell 35 percent in just a week), such an outcome was surely expected. 

Pundits do not see a clear reason for this rapid decline, since the SEC postponement alone cannot have such a negative impact on the market. As of now, it is unclear when the nightmare is ending, but many believe that the volatility will decrease only after cryptocurrencies finally make it to the mainstream. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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