MSN Bitcoin Fud Shares How Much Money You’ve Lost If you Bought Crypto At The Top Of The Bubble
It is fair to say that the cryptocurrency market had a bubble. While it is very unfair to call the market a scam or say that it is worthless, like many people did, by all standards what happened between the end of 2017 and the beginning of 2018 was a bubble. The prices went up fast as there was a lot of hype and then they crashed down as everyone noticed that the hype was, well, it was hype.
Today, we’ll actually explain to you how much money you actually lost if you bought your coins at the top of the hype bubble and sold them today.
The State of the Crypto Market
The whole crypto market has lost about 65 percent of its value since December 2017. Yep, that’s about two thirds of its value. However, it is still more valuable today than it was a year ago, which means that it has actually lost hype money instead of losing the real value it had before the bubble.
Our analysis will take into account that you invested a total of $1,000 USD in the top 5 cryptos of the market at the time.
The top crypto of the world is actually one of the tokens that lost less value overall. It may be down 54 percent this year as it was trading at $6,400 USD this week. The token has reached a price of almost $20,000 USD last year. If you invested $1,000 USD in Bitcoin, you would have lost $650 USD and would have $350 USD today.
The second token by market capitalization, Ethereum, has fared considerably worse this year. It lost more than 70 percent of its value and 15 percent only in this last week alone. The Ether tokens are associated with the Ethereum blockchain, which gives you access to a computer network in which you can build apps. If you spend $1,000 USD on Ether, you would have lost $836 USD and would have only $164 USD left.
The hard fork of the original Bitcoin was actually able to have even heavier losses than Ethereum. It was created by a group of developers that were frustrated with the original Bitcoin’s scaling issues. If you invested in December, you would have lost $858 USD and would still have $142 USD left.
Litecoin was actually a pretty good investment in 2017 if you knew when to sell it. However, as all the other tokens, it has lost a lot of value this year with the crash. This token is very alike Bitcoin but faster and cheaper. If you invested, you would have lost $833 USD and would have $162 USD left.
Finally, there was XRP, popularly known as “Ripple”, which is actually the name of the company that created the token. This token saw the major loss among the big ones and lost over 90 percent of its value in a year. You would have lost $920 and would only have $80 USD left if you bet on XRP.