274 days or roughly nine months ago, the crypto economy was worth $2.34 trillion and at $967 billion the aggregate value of all 13,192 crypto assets is $1.48 trillion less. Most of the top digital currencies tapped an all-time price high in November 2021 and today, a great majority of the top crypto assets are down between 70% to 90% in value against the U.S. dollar.
9 Out of 12 Crypto Assets Have Lost Significant Value Since Last Year’s Price Highs
It’s almost a year later since the world’s top crypto assets tapped all-time highs in 2021, and a great number of digital currencies have lost considerable value. The following is a look at the top crypto assets by market capitalization, in order to see how much USD value each coin has lost.
The leading crypto asset by market valuation bitcoin (BTC) is currently trading for prices between $19,078 to $19,377 per unit during the last 24 hours. Bitcoin is down today, 72.1% lower in USD value than the all-time high ($69,044 per unit) printed on November 10, 2021.
Ethereum (ETH), the second-largest crypto coin by market cap, is trading at prices between $1,289 to $1,317 per unit on Sunday. ETH has lost 73.2% in USD value since reaching an all-time high (ATH) of $4,878 per unit on the same day as BTC’s ATH.
The top ten crypto asset positions have two stablecoins in the third and fourth positions in terms of today’s crypto market caps, which include USDT and USDC. BNB is the fifth largest crypto asset and today’s 24-hour price range has been between $279 to $286 per BNB. The crypto asset BNB has lost 58.3% from the crypto’s ATH posted on May 10, 2021.
At the time last year, BNB was exchanging hands for $686 per unit that day. The crypto asset xrp (XRP) did not reach a lifetime price high in 2021, as XRP’s ATH was recorded on January 7, 2018. XRP has been trading for prices between $0.45 to $0.47 per unit on Sunday, and the price is down 86.4% lower than the ATH recorded four years ago.
The seventh position in the top ten crypto market caps today is occupied by the stablecoin BUSD. The eighth largest crypto asset is cardano (ADA), which is exchanging hands today for $0.42 to $0.43 per unit. ADA has lost 86.1% in USD value since September 2, 2021, back when ADA reached an ATH of $3.09 per unit.
Solana (SOL) is trading for $32.31 to $33 per SOL on October 2, 2022, and since the $259 per coin ATH on November 06, 2021, 11 months ago, SOL is down 87.4%. The tenth largest crypto asset is the meme coin dogecoin (DOGE), which has traded for $0.059 to $0.0609 per unit. DOGE has lost 91.8% since the ATH recorded on May 8, 2021, when dogecoin reached $0.731 per DOGE over a year ago.
The eleventh largest crypto asset polkadot (DOT) is trading for $6.20 to $6.32 per DOT. Roughly 11 months ago on November 4, 2021, DOT was 88.5% higher in USD value at $54.98 per DOT. Lastly, the twelfth largest crypto asset by market valuation, shiba inu (SHIB) is swapping for $0.00001094 to $0.00001122 per unit. SHIB has lost around 87.1% in value against the U.S. dollar after it was trading for $0.00008616 on October 28, 2021.
What do you think about the top 12 crypto asset market caps and how much they have lost since their all-time price highs? Let us know what you think about this subject in the comments section below.
Source: Markets and Prices Archives – Bitcoin News
Veteran Investor Mark Mobius Expects Bitcoin Price to Fall to $10,000
Veteran investor Mark Mobius, the founder of Mobius Capital, expects the price of bitcoin to fall to $10,000. Nonetheless, he said: “Crypto is here to stay as there are several investors who still have faith in it.” Mark Mobius’ Bitcoin Price Prediction The founder of Mobius Capital Partners, Mark Mobius, shared his latest bitcoin price […]
Veteran investor Mark Mobius, the founder of Mobius Capital, expects the price of bitcoin to fall to $10,000. Nonetheless, he said: “Crypto is here to stay as there are several investors who still have faith in it.”
Mark Mobius’ Bitcoin Price Prediction
The founder of Mobius Capital Partners, Mark Mobius, shared his latest bitcoin price prediction in an interview with Bloomberg Monday.
Prior to starting his own company, Mobius spent more than three decades at Franklin Templeton Investments. He previously served as the executive chairman of Templeton Emerging Markets Group where he managed more than $50 billion in emerging markets portfolios.
The veteran investor said that his next target for bitcoin is $10,000, noting that cryptocurrencies are “too dangerous” for him to invest his own cash or his clients’ money in.
Despite the collapse of crypto exchange FTX and subsequent market sell-offs, Mobius emphasized:
Crypto is here to stay as there are several investors who still have faith in it … It’s amazing how bitcoin prices have held up.
This was not the first time that the former Franklin Templeton executive mentioned $10,000 as his target for bitcoin’s price. In May, he advised investors against buying the dip, cautioning that the market still had some way to fall. In November last year, he said people should not look at cryptocurrencies as a means to invest but as “a means to speculate and have fun.”
Mobius is not alone in expecting the price of bitcoin to drop to $10,000. Doubleline Capital CEO Jeffrey Gundlach, aka the bond king, said in June: “I wouldn’t be surprised at all if it [bitcoin] went to $10,000.” Gold bug and economist Peter Schiff said this month that bitcoin still has a long way to fall. He valued BTC at $10K. Moreover, a recent Bloomberg MLIV Pulse survey showed that the majority of nearly 1,000 investors who responded expect bitcoin’s price to drop to $10K.
Meanwhile, some people are still very optimistic about the price of BTC. Venture capitalist Tim Draper, for example, said earlier this month that he expects bitcoin’s price to hit $250K by mid-2023.
Do you think the price of bitcoin will drop to $10K? Let us know in the comments section below.
Source: Markets and Prices Archives – Bitcoin News