The cryptocurrency market is falling and is doing so at an alarming rate. Since January 7th, when the total market capitalization was equal to $832 billion, it has lost over 50% of its value. Depreciation of a comparable scale would be absolutely devastating for any other financial market — including foreign exchange, stocks, bonds etc.
Over the course of only 24 hours the world’s top 20 cryptocurrencies have lost over 20% of their value (with an exception of bitcoin and, quite expectedly, Tether). Some up to 30%. The correction has been awaited since the last explosive growth cycle the crypto market has experienced in the end of 2017. On December 7th one bitcoin could have been sold for astonishing $20,000.
Views of the cryptocurrency experts vary a lot. Some say the plunge is here to stay. The other believe it is still too early to bury to cryptocurrency industry and hope for another round of expansion. Jordan Belfort, also known as the “Wolf of Wall Street”, has stated in his interview to Patrick Bet-David that bitcoin is too easy to manipulate. According to the expert, the price of BTC “might go to $50,000” but will eventually fall to zero.
Whatever the answer, right now is the perfect time to explore vast opportunities of short-selling, currently availably only at IQ Option. Read the full article on short-selling to learn more about this strategy and potential benefits it can offer during the bearish trend. This week you can also enjoy lowered cryptocurrency commission of 3.9%.Trade on BTC/USD
NOTE: This article is not an investment advice. Any references to historical price movements or levels is informational and based on external analysis and we do not warranty that any such movements or levels are likely to reoccur in the future.
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