Cryptos Are Crashing (Again) - Bitcoin, Ethereum Down For 2019
Cryptocurrencies suffered a double-drubbing in the last few hours, crashing Bitcoin back below $4,000 to 2019 lows...
Sea of red...
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Bitcoin, Ethereum, and Ripple are all red for 2019 now...
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That smashed Bitcoin back to 3-week lows...
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No immediate catalysts for the pukes... but as Cointelegraph reported today, a critical vulnerability that leaked sensitive user data has been discovered and quickly patched on the Nasdaq-powered cryptocurrency and tokenized stock exchange DX.Exchange.
Furthermore, news broke earlier today that several tobacco shops in Paris, France, have started selling Bitcoin despite a degree of regulatory uncertainty. Customers can reportedly purchase tickets for the sums of 50, 100 or 250 euros with an alphanumeric code and a QR code, which can then be used to obtain Bitcoin.
The aggregate market of the crypto space is now below $125bn...
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The conditions in the crypto market are not the best. The prices still decreasing since December 2017. However, this is not the reason for panic, at least not about bitcoin. As long as bitcoin is the oldest cryptocurrency, it has experienced several large crashes. Bitcoin’s longest correction lasted for 411 days with 87% loss of value. And back in April 2013 bitcoin lost 83% just in 3 days. However, notice that bitcoin recovered each time. So this is not the end, just another long correction. It’s not time to sell off coins, quite in the opposite – it’s time to buy them.I believe in the potential, which certain coins can realize in the future. Probably not all altcoins will survive this bearish market.