This year, the bitcoin trading had experienced an apocalypse, while its total market capitalization had been shrunk to three-quarters, dispatching the biggest and original cryptocurrencies to the levels, that had not ever been seen before this gruesome gibberish.
The retail investors catalyzing the abnormal upstream momentum of cryptos had fled away in this early December, leaving the earlier adopter and traditional dominators behind, with a stack of scrutiny and scandals. As the digital coin industry had been going through sharp cross-referencing, the extent of scam remained unfathomable, and multiple Initial Coin offerings had been penalized because of malicious misrepresentation of the capital and source of revenue generations.
As an aftermath, while investors from a wide variety of verticals ranging from hedge funds to proprietary traders remained more active in the crypto market, the conventional firms always stayed away from the cryptos. In fact, while the shapes of digital coin data have been transforming, bitcoin alongside, other cryptos have been struggling to evolve from a speculation to a slightly closer-to-reality.
Ripple had been signaling a bit of shine in the early November, when it announced that it would be working with larger banks next year, as a digital currency. Eventually, all cryptos took hit and ripple was not out of it.
As the market data suggests, sellers have taken complete control of the crypto market and there had been no sign of shine over the crypto shrine.