Without any obvious reasons the cryptomarket collapses.
Let´s take a look at the numbers and see whether there are not only bears but even a groundhogs imminent?
What one can say looking back from the beginning of the year we saw a 10x increase in total market capitalization of cryptocurrencies. For those of you sticking to Cryptos since a year or more experienced rarely seen capital gains within a very short time frame. The huge gains, the anticipation of promising technologies, the 24/7 market, few to none regulatory institutions felt like the stock on kokain.
Now that there were/are 5 major setbacks everytime the market undergoes these dumps it finds support but thus far never recovered to spring/beginning of summer levels when it hit nearly 120 Billion $.
For comparison the market capitalization of all publicly traded companies in May 2008 dropped from 57 trillion $ to under 40 trillion $ in September 2008. The old market lost nearly ONE THIRD its capitalization within the summer of 2008. The whole loss of around 17 trillion $ presents still 200000x the current market capitalization of the cryptomarket (as of now with 80B $).
MY EXPERIENCE
Personally I started investing with a vision in my head of maybe beat the inflation rate not even thinking of 100%gains within the next years. I noticed the possible potential of blockchain technology in the future but allocated just a fraction of my savings into cryptocurrencies. Despite the fact of investing not much I can´t complain. Relatively my initioal investments now present most of my portfolio. A smart investor would hedge his gains into other vehicles but since I invested so little I don´t mind taking these recent hits. I truly believe in this new new-economy market. My mind is already programmed to feel not extremely uncomfortable with loosing a big part of my investment for some time because I see the huge potential in the future.
My investment is out of curiosity. Will the market one day break the trillion $? Will it go back to 9 billion $ when I invested first?
2 CHANNELS for HELPFUL ADVICE AND COMFORT THE INVESTORS SOUL:
And why don´t I have started saving my earnings earlier so I could invest more into cryptocurrencies when it sees setbacks like the one of today?
For all Steemians and cryptoenthusiasts stay curious, diversify and keep calm.
What do you think about the market situation? Leave a comment below.
As of always thank you for reading sharing and commenting and stay CRYPTUNED!!
Me as a cryptoenthusiast wouldn´t mind you donating whatever amount the informations seem worth to you. Here are my addresses :
♥ ETH: 0x3483889ce1b7e2f8c01313cf9464064b93163ec0
♥ BTC: 1Dcui9ULMxUpMfGTTQU8Gb2WfPn9orjFtS
♥ LTC: LNkfL4x8fkR9BaHBsNzRmThnheLzMTEhGY
♥ Dash: Xe9zHUQgxBR4Fsnj78oSGiFs53LDYBbbNo
♥ ETC: 0xce15aa840c952b1ae55446591372266a0f6e5e7a
♥ ZEC: t1QMLpmauWd88acksp5JYwRtg9VPQMpScfD
♥ DGE: D9XeQjwtwVxG8E4pPGvixMqF9EzUzvWDHB