January 2018: Was it a Cryptocurrency Bloodbath?
How did the Top 50 cryptocurrencies perform in Januari 2018?
Bitcoin lost 34.51% of its value in Januari, but it certainly was not a bloodbath for all cryptocurrencies. Ether surged by nearly 40% and it was also a great month for STEEM.
However, February has started very badly. We'll see how this month will end...
| Cryptocurrency | Price January, 1st | Price end of January | Change |
|---|---|---|---|
| Bitcoin | $13,850.40 | $9,070.70 | -34.51% |
| Ethereum | $741.13 | $1,034.05 | +39.52% |
| Ripple | $1.98 | $0.97 | -50.98% |
| Bitcoin Cash | $2,371.83 | $1,299.06 | -45.23% |
| Cardano | $0.71 | $0.42 | -41.08% |
| NEO | $74.66 | $120.90 | +61.93% |
| Litecoin | $226.52 | $138.21 | -38.99% |
| Stellar | $0.35 | $0.45 | +27.12% |
| EOS | $7.69 | $10.03 | +30.43% |
| NEM | $1.03 | $0.66 | -36.18% |
| IOTA | $3.51 | $1.89 | -46.15% |
| Dash | $1,013.89 | $619.61 | -38.89% |
| Monero | $331.83 | $238.69 | -28.07% |
| TRON | $0.05 | $0.05 | -5.02% |
| Tether | $1.02 | $0.98 | -3.99% |
| Lisk | $20.73 | $22.59 | +8.97% |
| Ethereum Classic | $26.05 | $25.01 | -3.99% |
| Qtum | $53.06 | $35.57 | -32.96% |
| Nano | $0.00 | $15.62 | 0% |
| VeChain | $2.29 | $5.08 | +121.83% |
| Populous | $40.50 | $57.50 | +41.98% |
| ICON | $5.19 | $6.73 | +29.67% |
| Bitcoin Gold | $240.89 | $131.51 | -45.41% |
| OmiseGO | $19.60 | $13.81 | -29.54% |
| Zcash | $479.29 | $389.19 | -18.8% |
| Steem | $2.99 | $4.85 | +62.21% |
| Stratis | $13.97 | $10.24 | -26.7% |
| Binance Coin | $8.63 | $9.41 | +9.04% |
| Bytecoin | $0.01 | $0.01 | -9.23% |
| Siacoin | $0.03 | $0.03 | -6.32% |
| BitShares | $0.64 | $0.38 | -40.98% |
| Maker | $941.24 | $1,282.22 | +36.23% |
| Verge | $0.22 | $0.06 | -72.51% |
| DigixDAO | $157.56 | $258.20 | +63.87% |
| 0x | $0.89 | $1.52 | +69.87% |
| Veritaseum | $344.55 | $351.68 | +2.07% |
| Waves | $13.61 | $7.11 | -47.76% |
| Aeternity | $1.29 | $2.64 | +104.65% |
| Augur | $70.00 | $65.78 | -6.03% |
| KuCoin Shares | $3.61 | $7.18 | +98.89% |
| Status | $0.22 | $0.20 | -12.65% |
| Walton | $10.62 | $25.91 | +143.97% |
| RChain | $0.00 | $1.84 | 0% |
| Decred | $96.01 | $83.41 | -13.12% |
| Dogecoin | $0.01 | $0.01 | -43.43% |
| Hshare | $27.66 | $11.84 | -57.19% |
| Ardor | $1.97 | $0.62 | -68.73% |
| Kyber Network | $2.61 | $3.54 | +35.63% |
| Gas | $29.81 | $50.71 | +70.11% |
| Zilliqa | $0.00 | $0.07 | 0% |
Good chart! However, in general, the total market cap is down from $825b in December to $455b today. That's around 45% decrease from the ATH. In short, it was a bloodbath. Let's just hope that February will be a different story.
When you look at something from month to month you get a pretty distorted view. Just look at a 12 month graph and nothing looks weird at all. All things that goes up fast in nature must come down fast. That's how it works everywhere. Making money in this industry will take at least 2 years of long term investment and be ready to lose it all. But the industry is growing so lose all seem highly unlikely. More realistic approach is that it will slowly during a 3 year period rise.
You're absolutely correct. It's just that people forget that the total market cap is still higher by more than 2000% since last year which makes them panic sell and spread FUD. This make big investors very skeptical of this kind of market.
It is not so bad for the last month, and we should not panic with this dump of the price today. It happened before and almost every time the market recovers fast. This is actually cheap crypto for everybody!
Oh, two months in crypto, and I haven't seen anything like that. It scares the shit out of me to tell the truth. I didn't panic sell although and actually bought MORE Steem, but.. man, this is black Friday.
It wouldn't be weird if Bitcoin goes down to $3000 dollars again. It was there just a few months ago. This is more expected actually. Since when money grows a lot many will panic more. More emotional roller coaster. And the most fun of all is that nobody is an expert here. So even listen to others may make you paranoid. But nobody knows anything. Or well, we do know that Bitcoins is limited in numbers! And we do know many stand in line to buy Bitcoin. Takes weeks to even get approved. I bet it will start to rise in 2 months time. And go extremely high again.
I know, this is how I called my last article, black Friday of crypto :)) I also don't panic, but a lot of people did. I actually think that the correction is about to end and now we are seeing the prices rising again!
Always appreciate your analyses
Thanks for sharing this @penguinpablo. Your updates are really helpful and they put in to perspective exactly how the market has done. It has in general been a rough start for the market in 2018, but there are some really interesting developments coming down the pipeline which should help change that.
people should not panic about these crashes spcly steemit bcz it will rise more n more
The main reason for the crypto blood bath in the start of February is the fake news from mainstream media which unfortunately many people still believe in. In-fact there was a time when it fell to about $4500 for sometime on an Indian exchange.
Also, many people who bought bitcoin were new and had no idea what they were buying.
What fake news?
I'm on holiday so I missed the news for about 1 week.
The Indian media on 1st February twisted and misinterpreted the statement given by Finance minister of India. They tweetted and ran programs telling people that crypto has been banned in India. This caused a havoc, dropping the price down to just 4500$ on an Indian exchange in just 15 minutes. From then on there was a heavy crash.
There is a lot of oportunity and market will flip soon. We just need to remain calm and wait. I'm strongly believing that market 1 month from now will look totally different :)
I believe it will take a little longer. 2-3 months. Since the waiting times on the exchanges are up to 2-3 weeks sometimes even longer. We have no idea how much new money will flow in soon. Especially when people see the lower price. All the hyped up people from January that feel they are getting an amazing deal. $25,000 coming in 2018! Probably even before summer. That would be a 3X rise. Overall at the end of the year probably 5-8x rise in price compared to start of January. 2019 will probably be a calm year again. Since the high price increase will cause many to stand back from buying.
yep it's also an oportunity for new people to come. I have a lot of friends, including my brother, who wants to invest but doesnt curently have the option / money to do so. It's not that easy and fast to get into crypto. We will see 1 billion market in the next months for sure, but this period is purging the market from shit coins.
True it's not easy or fast. It takes a certain skill and person to get rich from this. The smart people can even take huge loans and do some risks. If you don't have many you can always use someone else.
For many people in the western world taking a bank loan even in worst case scenario it's not that risky compared to the potential upside. Especially now how safe the world has become. Million ways you can make the money back in worst case scenario. Especially now with the Internet. But it's not for everyone. Since all money can be lost and not everyone is ready for that.
But whole life is a risk haha. I'm here to bet on stuff. If you are younger it's less risky of course. Because you have more energy and could make the money back easier. But if older it might be better to play it more safe. Since a huge loss then will feel more in the pocket.
For example a young person can work so fast in this technological world and make gains fast. But it's more scarier for a non geek person to do the same.
I'm a little bit scared, buddy. Hope the market will bounce back.
@phoneinf I agree that bitcoin price could go up to $25,000. Especially since market cap is not equal to the total amount of money being invested.
At this moment I wonder if crypto markets ever become calm? The way things work right now, my guess would be not
Danke für diese gute Übersicht.
It looks like we're seeing the end of BTC dominance but hardly the end of crypto. It's inevitable that at some point there be a bottleneck to clear the market of outdated, underperforming and unworthy coins, but all that does is leave more room for the ones with serious potential or proven use (such as our beloved STEEM) to grow. And I, for one, have been very satisfied seeing STEEM sitting between US$4-5 for most of this dip. And indeed, why speculate excessively, or panic sell, when you know that a stable, profitable system underlies the coin?
your analysis about cryptocurrencies is ablsolutely fine. Bitcoin down from $19000 to current position whereas Ether goes up. In my view, the reason of going up of Ether is that most of the ICOs are backed by Ether which is giving push to ether. I may be wrong:-)