The current bear market most painfully affected altonah, whose prices sank even stronger than in 2014-2015.
The current #crypto bear market has been harder on altcoins than the infamous 2014-15 bear market.
In 2014/15, the total altcoin market cap fell 85% from its high. The altcoin market cap today is down 90 percent from its high in 2018. pic.twitter.com/0pEbBOnrfC
— CoinDesk Markets (@CoinDeskMarkets) 6 grudnia 2018 R.
CoinDesk analysts note the fact that during the bear market of 2014-2015 altcoins declined by 85% relative to the maximum. Since the beginning of this year, the market shrank by more than 10 times — drawdown relative to historical maximum in the beginning of the year exceeded 90%.
Researcher company of new York Pension Partners Charlie Bilello in late November poll, the results of which were disappointing.
Poll results: most voting for more downside in Bitcoin, with 33% saying it will drop below $1,000 in the next 12 months.$BTC.X pic.twitter.com/eSGmDYhc0N
— Charlie Bilello (@charliebilello) 21 Listopad 2018 R.
A third of respondents expressed confidence that within the next 12 months the price of bitcoin will fall below $1000. Another third sure that the first crypto currency will “walk” in the range of $2500-4200.
Charlie Bilello is also known for its Twitter-publications on the yield of some scriptaction:
2018 Crypto Returns… pic.twitter.com/3WIgghSiso
— Charlie Bilello (@charliebilello) 5 grudnia 2018 R.
Given that this tweet was published on 5 December, the rates of return is likely to have changed to the worse.
Bilello also notes that the price of bitcoin for almost a year have not reached a historic high.
In the last 3 months of 2017, Bitcoin hit a new all-time high once every 3 days, on average.
Bitcoin has now gone 354 days without a new high.
Longest streak ever was 1,176 days (from Dec 2013 to Feb 2017). $BTC.X pic.twitter.com/LGEbmLocXe
— Charlie Bilello (@charliebilello) 5 grudnia 2018 R.
During the last three months of last year, a new high was recorded on average every three days.
Recall, today, December 7th, the bitcoin price had a fresh minimum, and the rate dropped to Ethereum marks may 2017.
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