Cryptocurrencies are reporting a decline: Bitcoin lost another 5% and dropped to $3.5K, according to the СoinМarketСap ranking agency.
The total market capitalization of cryptocurrencies has already dropped below $120 bln. The capitalization of Bitcoin is $62.4 bln, while Ripple declined by 3.5% to $0.31 and Ethereum dropped by 5.5% to $117.
“In all, all major cryptocurrencies will see a meltdown, because the public has lost interest in the industry and investors and large market players are leaving the market,” Murad Salikhov, advisor to the board chairman of the Financial Innovations Association, told Invest Foresight. “Even such news as the appearance of a cryptocurrency exchange on the post-Soviet space will not give a boost to the development of the market. Many experts note that the market keeps losing its positions; if there are no growth factors, it will gradually come to an end.