Caged cryptos crash further, market valuation in a daedal distress


by   |  VIEW 219
Caged cryptos crash further, market valuation in a daedal distress

As in one month, the crypto market capitalization has been halved, the critical support levels are becoming increasing difficult to identify, both for the investors and the analysts. While the report is being prepared, December 15th, GMT 9.00, the languishing leg of bitcoin has not yet out of misery and it rapidly is being leaning towards its key support level at $3,160, while Ripple has been sharing the same fate trading around $0.27.

Meanwhile, Ethereum took the heavy battering, as most of the Initial coin offerings of Cryptos were being performed through Ethereum since 2017. As a few digital coin mining companies are forced to pay back the ICO capital to their investors, Ethereum had toppled terribly and lost four-fifth of its market capital in the fourth quarter of 2018.

The sellers have taken complete control of the market, and there is almost no sign of shine to keep the cryptos out of their shrine, as the crypto market had lost 50 percent of its market capitalization in the last month and at this moment, market data suggests that the 72% crypto buyers are net long since August 2018.

The upcoming week might holocaust further storms in the cryptos, draining more capital form the market, as a large blockchain investment from Pantera Capital (25% of its ICO) has recently been accused of violating SEC regulations and might lead to refunds.