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Digital Economy:
What will the global market get

Large altcoins fell right after Bitcoin

04 April 2018 00:00, UTC   |   916
Large altcoins fell right after Bitcoin
By Margaret NAIL

For March, the aggregate value of all cryptocoins decreased by more than 40%: from about $ 452 billion as of March 1 to about $ 267 billion as of March 31. Moreover, the capitalization of altcoins declined by almost 84% and by March 31 reached a level of less than 147 billion dollars.

Picture 1. Dynamics of cryptocurrencies capitalization
Source: According to Сoinmarketcap

Bitcoin lost more than 30% in March. So, if on March 1 you could buy one BTC for 10,385 dollars, then by the end of the month the coin value dropped to less than 7 thousand dollars. Some analysts believe that the negative trend may continue and the cost of Bitcoin may drop to 3 thousand dollars.

Within a month, the share of Bitcoin in the total capitalization of coins increased significantly from 39.95% to 44.96%. It happened because many altcoins lost much more in price than BTC.

Picture 2. Dynamics of Bitcoin cost
Source: According to Сoinmarketcap

Following the leading cryptocurrency, the altcoins (including ones from the TOP-10) also fell in price. It should be noted that at the end of March, Dash (0.95% of total capitalization), NEM (0.75% of total capitalization) and IOTA (1.13% of total capitalization) were not ranked among first ten significant cryptocurrencies. They were forced out also due to the growth in the share of Cardano (1.43% of total capitalization, 7th place regarding capitalization), Stellar (1.31% of total capitalization).

Among large coins, NEO lost most of its price — from $ 133.65 to $ 50.13 (the price was adjusted by 62%). The capitalization of the coin also declined by 62% and at the end of March was 3.278 billion dollars. The decline in the coin rate and capitalization contributed to a reduction in the share of NEO in the total value of all coins from 1.94% to 1.24%. However, this fall allowed the coin to stay in the TOP-10.

The cost of the Etherium fell by 54% — from 856 dollars to 396 dollars. The capitalization of the coin decreased by almost the same percentage. At the beginning of the month, the total value of all ETH was estimated at 83.8 billion dollars, and by the end of the analyzed period — at 38.9 billion dollars.

The cost of Cardano dropped significantly — by 50%. Despite the fact that the share of ADA in the total capitalization of the cryptocoins from decreased 1.79% to 1.43%, the coin remained in the TOP-10 large currencies, overtaking the level of capitalization of NEO and Monero.

The cost of Ripple was reduced by 44% and on March 31 it was $ 0.5. Capitalization of the XRP dropped from $ 35.3 billion to $ 19.9 billion.

The EOS cryptocurrency lost least in its price. Its cost decreased by 29% — from 8.39 dollars to 5.99$.

Cryptocurrency Change in value for March
NEO -62%
Ethereum -54%
Cardano -50%
Ripple -44%
Bitcoin Cash -43%
Litecoin -43%
Stellar -38%
Monero -37%
Bitcoin -32%
EOS -29%

Table — Change in the cost of TOP-10 cryptocurrencies
Source: Сalculations of Bitnewstoday according to Coinmarketcap data

As part of the assessment of the fate of Bitcoin and altcoins, many experts are sceptical. It is assumed that the cost of Bitcoin can drop to 3 thousand dollars. However, cryptomarket gets such negative forecasts, and it is likely that soon the value of BTC will go up.

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