[Altcoin Apocalypse] 15 Popular Crypto Assets Are Down Over 90% Since Their All-Time Highs
Bitcoin (BTC) and many other digital assets have been in a bull trend during 2017. At that time, most of the virtual currencies registered price increases that allowed them to reach their all-time highs between December 2017 and January 2018. After they reached their highest price ever, these virtual currencies dropped and the whole market plummetted to lows in more than a year.
How Did Cryptos Perform During 2018
Charlie Bilello, a recognized investor, released on Twitter a list of different digital assets and how much they’ve dropped since their all-time highs. The first coin he mentioned is BitConnect (BCC). This cryptocurrency disappeared from the market after the BitConnect Ponzi and Pyramid scheme fell at the beginning of 2018.
BitConnect has affected thousands of users from all over the world, and many of them lost their funds in this fraudulent scheme. Thus, when the firm announced that they were not going to keep operating, the digital asset plummetted from $465 down to $5.71 a few days later. Now, each BCC coin is being traded around $0.6, but it is currently not operating anymore. That means that the digital asset lost almost 100% of its price.
The list was followed by Qtum, falling 98%, NEM (XEM) 98%, ICON (ICX) 97%, Bitcoin Gold (BTG) 97%, Bitcoin Cash (BCH) 97%, Cardano (ADA) 96%, Lisk (LSK) 96%, NEO 95%, Dash 94%, ZCash (ZEC) 94%, Tron (TRX) 92%, XRP 92%, Ethereum (ETH) 91%, Monero (XMR) 89%, Litecoin (LTC) 84%, EOS 83% and Bitcoin 80%.
Crypto, % Below all-time high…
Bitcoin Gold: -97%
Bitcoin Cash: -97%
— Charlie Bilello (@charliebilello) March 17, 2019
It is worth mentioning that some coins have been affected by different negative events that harmed them. For example, in January 2018, the cryptocurrency exchange Coincheck lost 500 million NEM tokens worth over $500 million at that time.
Bitcoin Gold has also experienced a 51% attack that affected the whole BTG network. Meanwhile, Bitcoin Cash has also been harmed by a contentious hard fork on November 2018. Bitcoin SV (BSV) was created after developers behind it did not agree with the proposed improvements that Bitcoin ABC wanted to carry out.
The bear market has affected almost every cryptocurrency. Now is time to focus on the future of the space and how the price of the most popular digital assets will evolve.