A showdown reaches the cryptocurrency markets, an "extinction event" that is ready to wipe out 90 percent of over 1,800 coins and tokens that are not called bitcoins.
the prediction of the President of Xapo Ted Rogers, however, who stated that the imminent blood bath altcoin will provide the most demanding investors with an incredible opportunity to charge bitcoins at a discount.
"We could be in the midst of the" cryptoassets "extinction event that many maximalists have predicted – 90% + of the @CoinMarketCap list will disappear at the end – could also happen now," Rogers wrote on Twitter. "In the meantime, lowering the price of BTC means an incredible opportunity to buy more #bitcoin."
We might find ourselves in the middle of the extinction event for "criptoassets" that many maximalists have predicted. 90% + of @CoinMarketCap list will disappear at the end – it could also happen now. Meanwhile, lowering the price of BTC means an incredible opportunity to buy more #bitcoin
– Ted Rogers (@tedmrogers) 14 August 2018
The pessimistic forecast Rogers plateau arrives at a time when virtually all major cryptocurrencies, excluding bitcoins, have fallen by at least 80% compared to the historical high, which most of the altcoins hit at the beginning of January .
In fact, at at the time of writing this article, seven of the 15 major cryptocurrencies have lost more than 90% from their carriers e: ripple, cardan, IOTA, tron, dash, NEO and NEM. Five others – ethereum, bitcoin cash, EOS, litecoin and monero – recorded a decline of more than 80%. This leaves only three bitcoins, stellar, and classic ethereum – which fell less than 80%, although the bitcoin still saw a 70% sell-off, and XLM and ETC are both rapidly approaching the ; 80%.
The altcoin massacre has become so pronounced this week that bitcoin dominance – the share of the total cryptocurrency cap belonging to BTC – has not only exceeded 50% for the first time in 2018, but is rose to 54.3% – its highest score since December 18, the day after the price of bitcoin has reached its all-time high (OnChainFX has a prevalence of bitcoin quoted at 57.3%).
As reported by CCN, there are some indications that the sale of altcoin, stimulated in large part by ethereum, came when the blockchain startups financed through the first coin offerings (Ico) reached the point in the bear market, where they risk cannibalizing whatever remains of their track if it continues for much longer.
the number of analysts believe that this will occur, some ICO operators may have started to liquidate their holdings, which are widely referred to in the ETH. This can create a bit of a vicious circle, given that more and more start-ups capitulate and sell.
Image from Shutterstock
Follow us on Telegram or subscribe to our newsletter here.
• Join the CCN community crypt for $ 9.99 a month, click here.
• Do you want exclusive analysis and in-depth analysis encrypted by Hacked.com? Click here.
• Open positions on CCN: sought-after full-time and part-time journalists.