“Great cryptogram 2018”, as he calls Bloomberg Michael Patterson, has already broken the record of the dot-com market at the beginning of the new Millennium.
This comparison is carried out based on the data of the Nasdaq composite index, according to which the fall of the dotcom market in 2000, with a peak to the lowest was 78%.
At the same time, the data MVIS CryptoCompare Digital Assets 10 from the Nasdaq, which tracks the indicators of the ten largest and most liquid cryptocurrency, Wednesday, September 12, showed that the market of digital assets has fallen from the January heights by 80%.
According to Michael Patterson, like their predecessors during the boom, shares of Internet companies almost two decades ago, today’s investors who decided to bet on a revolutionary technology, is experiencing a painful return to earth.
As the analyst, cryptocurrency mania 2017, which fueled hopes that bitcoin will become “digital gold” and is created on the blockchain tokens transformerait almost all industries – from Finance to food industry quickly gave way to concerns of too high excitement, security, market manipulation, the need for more severe regulation of the industry and its too slow taking on wall street.
He also said that the crypto-currency bulls do not give in to negative comparisons with the dotcom era, pointing to a recovery and rise to new heights of Nasdaq, on the enormous impact that Internet has had on society, and Recalling that the bitcoin after previous drops have invariably recovered.
However, Patterson says, even if optimists in the end will be right and cryptocurrency in the end transformerait the world, the events of this year show that smooth and even this process will not.
As of 10:00 UTC Wednesday, September 12, the total market capitalization of crypto-currencies was $187.4 billion, which is the lowest rate in 2018. The vast majority of altcoins is in a deep red zone, having lost in cost in the last day from 3 to 13 percent.
Bitcoin is currently trading at around $6264 (-1,4%), the average rate for Ethereum dropped to $174.47 (-10,29%). In the Top 20 CoinMarketCap alone remains Dogecoin – for the last day of this cryptocurrency has grown by 2.62% (+of 24, 36%), and, overtaking the capitalization of Nem, Tezos and VeChain, has risen to 17th place.
As previously reported, the index of dominance of bitcoin this week renewed a maximum of 2018. Today the prevalence rate is 57.8 per cent, although yesterday was 56.3 per cent.
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