Since late July, the cryptocurrency market has been continuously growing from it's previous crash where the total captilization fell from a high of $116 Billion to a low of $61 Billion, which is more than a 50% decrease.
61 / 116 X 100 = 52.586206896551724137931034482759 (Rounded 52.6%)
Due to such a large decrease people and investors began putting their money back into cryptocurrency and managed to drive the total value to it's all-time high of $179 Billion. However, in the past there has been another sell off as we saw a drop to $159 Billion, approximately a $20 Billion loss. The markets quickly headed there way upwards overnight and the total sum of all currencies now sits at $163 Billion.
What next? - Well comparing this to the last correction we had, the movement is small. With a psychological barrier of Bitcoin being $5,000, the market was primed for a correction and we may see a lot more of a sell in the upcoming days. If so, managing your risk by diversifying across multiple currencies and handle your investments in different spectrum's of time.
On the more positive side, if Bitcoin breaks the the rescistants of $5,000 we will quickly see the markets reach over $200 Billion!
Bitcoin price.
