The value of all cryptocurrency plunged more than 9% over the weekend, declining from a high of $179 billion to $162.5 billion. Analysts say the correction does very little to alter the technology’s upward trajectory, and may in fact be a way to encourage new buyers to enter the market.
Even with the latest correction, the cryptocurrency market has increased nearly 60% over the past month and is up 823% since the beginning of the year. There are now 11 digital currency assets with a market cap of at least $1 billion, with the top-100 having a minimum value of $38.7 million, according to CoinMarketCap.
That being said, market dislocations are a major concern for investors. Market dislocation is a condition where investors cease to price assets correctly on an absolute and relative basis. This condition seems to have inflicted bitcoin cash (BCH), which launched on Aug. 1 after a minority of the blockchain community rejected the SegWit2x protocol. Bitcoin cash has faced extreme volatility over its short history as markets struggle to find what it’s really worth.
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Source: https://hacked.com
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