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The collapse of the crypto market

The cryptocurrency market has experienced a strong fall this Friday and Saturday.

31.Dec.17 7:52 AM
By Daria Zaytseva


The collapse of the crypto market

Coins lost value in all directions, and only three of the twenty best on market capitalization showed growth of more than 10 percent: Cardano, Qtum and Neo.

On the other hand, Bitcoin has dropped from Friday's high of $15,266 to $12,350 on Saturday. The last two weeks have been very volatile for the original cryptocurrency, as on December 17, 2017 it reached a record level of $20,000.

Over the past two days, Ripple that has just replaced Ethereum as the highest altcoin due to market capitalization has also decreased by at least 20 percent.

Fortunately for Ethereum owners, its fall was less noticeable. The drop from $769 to $685, which is just an 11 percent loss of value, is much more advantageous compared to the performance of Bitcoin and Ripple.

Overall, 2017 has been a good year for Ethereum, as the coin grew for just $8 to its own record high of $750 and beyond, and it still seems to support that dynamic.

Other outstanding cryptocurrencies have also lost value in the last two days, including Bitcoin Cash, Litecoin, NEM, Dash, Monero and others.

This year was very positive for the vast majority of coins, possibly indicating that the collapse of the last two days is a temporary pullback from this progress, which may be followed by a renewed growth.

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