Bear Market Birthday: The Crypto Bubble Popped One Year Ago Today

TweetShare One year ago today, the crypto bubble reached its fever pitch before the inevitable crash that occurred throughout the remainder of 2018 and has lingered into the new year. Crypto Market Down 84% on Anniversary of All-Time High One year ago today, the crypto market cap peaked at just under $835.7 billion. | Source: CoinMarketCap According to CoinMarketCap, the cryptocurrency market cap — which measures the combined notional value of all cryptocurrencies — reached $835.7 billion on Jan. 7, 2018 at approximately 11:17 UTC. At one point, the aggregate value of cryptocurrency tokens in circulation rivaled South Korea’s M1 money supply. | Source: CIA World Factbook That meant that, at least on paper, cryptocurrency as an investment class was worth more than Facebook and Twitter — combined — as well as the narrow money supplies of all but eight countries. The cryptocurrency market cap declined sharply in Jan. 2018…

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