Cryptocurrencies' Crash – Calculating Losses
The Bitcoin mania led to many financial losses
Just several weeks back Bitcoin was at its peak, prompting many people to try and get involved at any price. There have been stories about users selling property in order to make it to the market before it is too late.
In case you got involved, you have probably noticed that most investors are holding back lately and things have become quiet. If you bought some crypto coins during the highest price period, you are facing some important decisions considering your investments these days.
Many traders are reported to have left the market altogether. Those who own some digital currencies – not only Bitcoin, Ripple or Ethereum – are suffering losses now.
Fortune has looked at how much is today's value of a USD 1000 worth investment in some of the best-known cryptocurrencies, made during the peak of the Bitcoin on 19 December 2017.
Bitcoin goes down
Bitcoin has had the public's attention for the last several years. This is why it has taken one of the most dramatical falls – it has plunged 63% since 19 December. In other words, USD 1,000 invested back then are worth USD 370 now.
Ethereum is still holding
Ethereum, on the other hand, held on with its price rising until 14 January. Since Bitcoin’s peak it has lost only 5% of its value. This means that USD 1000 invested on 19 December have become USD 950 now. On the other hand, if one had bought USD 1000 worth of Ethereum at its 14 January high, it is now down to USD 526.
Ripple did its best
Similar to Ethereum, Ripple reached its highest levels a little after Bitcoin's top. The coin's peak was recorded on 4 January at USD 3.37. Since then it has lost more than two thirds of its value, currently trading at under USD 1. Compared to 19 December, one would have lost just 8% of the investment and would now own USD 920 out of USD 1000. But in case you bought Ripple coins on 3 January, you are now left with only USD 226.
Bitcoin Cash hits rock bottom
One of the most dramatic downfalls was the one of Bitcoin Cash, which hit its highest price just a day after Bitcoin. Since December 19, it has lost 71% of its value, meaning that a USD 1000 worth Bitcoin Cash then are now worth USD 290. But if one has done the same investment on 20 December, it would be down to USD 224 now.
New Year wasn't good to Cardano
Cardano has lost 40% since 19 December, corresponding to USD 600 out of a USD 1000 investment. The picture becomes different if we look into the first days of 2018. If you have bought Cardano for the same amount just before its peak on 4 January, you would have lost 75%, possessing coins worth just USD 260 now.
Benson Oak Launches USD 100 Million Israeli Blockchain Fund11 July | by Peter Genoff
BIS General Manager to Youngsters: Stop Trying to Create Money05 July | by Marin Marinov
Crypto Firms To Get Wider Access to Swiss Bank Services - Report03 July | by Kalina Tekelieva
Philippines To Issue up to 25 Crypto Exchange Licenses03 July | by Peter Genoff
3 Reasons Why Bitcoin Price Fell to New Monthly Low02 July | by Lyubo Zhechev
MasterCard Seeks to Tap Blockchain Technology with New Patent02 July | by Marin Marinov