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Cryptocurrency Market Plumbs New Depths in 2018

8/14/18
from The Wall Street Journal,
8/14/18:

At $191 billion, the total market value of cryptocurrencies world-wide is at its lowest since November.

The cryptocurrency market just hit another new low in 2018. A broad selloff in digital currencies has pushed the value of the entire market below $200 billion for the first time this year, according to research site CoinMarketCap, erasing more than 70% of its worth seven months ago. At $191 billion on Tuesday, the total market value of cryptocurrencies world-wide is now at its lowest since November. The market cap peaked at $814 billion in January. The biggest cryptocurrencies like bitcoin and ether have led the market lower. Bitcoin recently fell 5%, dropping back below $6,000 for the first time since late June and is now flirting with its lows for the year, according to CoinDesk. Bitcoin has fallen by nearly 70% since peaking near $20,000 in December.

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