As a study shows, cryptographic asset prices have declined recently, which has led to a $ 5 billion loss for the crypto industry as the most important currencies have suffered a loss between the percentage range of 3 to 7 January 21, 2018.
Among the sufferers, the flagship cryptocurrency, Bitcoin also saw an important fall in its prices down by 4%, lowering its value from $ 3,755 to its current price now recorded at around $ 3,570.
The digital currency had a bad previous year, as its price declined mainly in the encrypted market, which has become a major concern for the digital currency. The experts also predicted another drop in cryptocurrency prices before any major hikes this year and it seems like it is happening now as a 4% decline was recorded today.
In addition, the largest altcoin, Ripple (XRP) also saw some 3.4% drop shredded with its price recorded around $ 0.317 today. Ripple found Ethereum as its market share currently stands at $ 13 billion, while Ethereum's market share is $ 12.2 billion.
The fall in prices today has seen that almost all the best currencies have been penalized by the considerable fall in their prices. Likewise, Ripple reported a fall in prices of about 2.4% recorded weekly, but the monthly statistics are even worse for cryptocurrency, falling by 13.6%.
Crypto Garage, a Japanese fintech start-up announced on its official website that the launch received the approval of the Japanese regulatory authorities for its establishment of Bitcoin using Blockstream's Liquid Sidechain, which was the first project in this sector to kick off the Japanese authorities.
As things were starting to improve for the second largest altcoin, Ethereum (ETH), the cryptocurrency decreased by 5% and its price is now $ 117. Not so long ago, the digital currency has seen an improvement in its price when it rose above $ 130, recorded on January 15, 2018, but the fall in the prices of digital currencies in the cryptographic market reported Ethereum to the previous price scale, a decline of almost 1% was seen in a week. However, if we consider the market position of cryptocurrency on a monthly basis, we see an increase of 2.17% of the cryptocurrency price.
Unfortunately, the other major cryptocurrencies all showed negative signs in the encrypted market as they suffered significant losses ranging from 2% to 8%. The cryptocurrency most affected by the drop in prices is Maker (MKR), which currently occupies the twentieth position among the top 20 digital currencies with a loss of about 8.13%. Litecoin (LTC) is the eighth largest cryptocurrency, the price of which fell by around 5% and the 11th classified in cryptocurrency, while the price of Cardano (ADA) decreased by 4% to date . In contrast to these cryptocurrencies that suffered losses in the encrypted market, a digital currency has seen an increase of its price of 2.86% which is Tron (TRX), the only digital currency in the list of the top 20 digital currencies that benefited from the day.
The cryptography market as a whole fell by 4.3% today, as the total market capitalization of all cryptocurrencies was recorded at $ 119 billion, but is not yet affected in terms of weekly analysis.
Investor of Bitcoin, financial analyst and co-founder and CIO at the Altana Digital Currency Fund (ADCF) – an open fund that invests in projects related to cryptocurrency, Alistair Milne has expressed the opinion on the issue that the following crypto market crash it would be a test for cryptocurrencies that will direct those of them to be here in the longer term and while the financial analyst puts his trust in the bitter cryptocurrency, bitcoin, He said:
The likelihood that Bitcoin will again match its ATH price and then do not exceed it seems very low. Each wave of adoption is an order of magnitude larger than the previous one. HODL's price expectations increase exponentially (I will not sell at ~ 19k next time)
– Alistair Milne (@alistairmilne) 19 January 2019
Milne believes that the digital currency will come out strong from bad times and the chances of this not happening are unlikely. Therefore, the most recent drop in prices has indicated losses for almost all major digital currencies in cryptographic space, however experts are certain that bitcoin will remain in space indefinitely for some time, despite the market crash that has yet to follow.