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Yesterday 200,000 million disappeared. $ from the cryptocurrency market, but there are reasons why this does not concern investors

The day before yesterday, the value of the cryptocurrency market stood at $ 1.08 trillion, according to figures from Coinmarketcap ... but just 24 hours later, that value had dropped to 880,000 million.

That is, approximately 200,000 million dollars vanished yesterday in what apparently it was a black day for the cryptocurrency market.

Bitcoin, which reached an all-time high of nearly $ 42,000 at the end of last week, it plunged to $ 30,863, only to rebound slightly to finish Monday at $ 32,576 (a 12% drop from Sunday).

But the drop didn't just affect bitcoin: Ethereum, the second largest cryptocurrency, also closed yesterday down 23%, up to $ 1,005, after being placed throughout Monday at $ 945.

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Although every time there is a sudden variation in this market, voices speak of bubbles are raised (and reminisce about the nightmare of dotcoms), investment experts seem not to be overly concerned.

Thus, most maintain that the vertiginous ups and downs tend to readjust, and they see what happened yesterday as "healthy", also recalling that on November 26, just a few weeks before starting to hit highs, Bitcoin is already down 10% in just 24 hours.

Just a week ago JP Morgan predicted that the price of Bitcoin would end growing long term to $ 146,000. And, just a day earlier, the US regulatory body approved the use of blockchain technology for interbank payments.

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In addition, according to the TWAP index (acronym for 'time weighted average price'), used by various entities as a means to value assets in cryptocurrency, demand for bitcoin will continue to increase in the medium term.

This type of information, apparently, weigh more on investor sentiment than the most immediate fluctuations in the market.

Via | CNBC &

Image | QuoteInspector