2018 has been one of the worst year for investing in any asset, especially cryptos which have now fallen below a combined market cap of $150 billion.
Bitcoin fell below $5,000 to reach a new low of $4,200. Dragging the rest down, with ethereum falling to an incredible $120.
That now gives eth a market cap of just $13 billion, down from a once $150 billion in January. Bitcoin Cash has been reduced to $4 billion. A once $14 billion Tron is now below one billion.
A broad assets sell off appears to be underway with stock continuing their fall today. Dow is down 1.5%. Germany's DAX is down 1.3% while Shanghai's index has fallen 2%.
Oil likewise is continuing its decline, while gold has been somewhat more stable recently, but is down over the year.
Making it a broad decline of assets in 2018, but without an economic underlying factor as US's economy has grown by more in 2018 than in most previous years, adding about 4% to the GDP.
The culprit, therefore, might be the dollar. It got weaker and weaker in 2017, but has been rising for all of 2018.
Fed has signaled there will be more interest rate increases, so the dollar might get even stronger.
In addition to interest rates, turbulences in fiat money from the British Pound to the Ruble and the Turkish Lira may have led to increased demand for USD.
Making 2018 a pretty bad year for investments even while the US economy is sort of booming and much of Europe has full employment.Copyrights Trustnodes.com
11/20/2018 / 13:48:17 Source: trustnodes