This year, bitcoin prices went down, however, worst altcoins may be sliding down faster. 2018 may be the year where most endeavors are not as fruitful as expected.
Most altcoins have lost more than 90% of their original value and they sharply fell from their peaks. In fact, their fall was so sharp that Bitcoin is doing better than they are. Among these altcoins, there are some of them that have gone through disastrous slips.
As the last quarter of the year comes rolling in, people who are hoping to see a year-end rally are losing hope. People are losing their enthusiasm and several endeavors are experiencing huge setbacks. Thus, the value of these projects are getting wiped out.
Weiss Ratings have named to be the biggest losers since the bitcoin prices and market experienced all-time high, according to the data from Onchainfx. They named these altcoins as the worst altcoins for this year. The peak happened for most during the end of the year 2017 and the beginning of the year 2018.
Weiss Ratings tweeted this last October 18, 2018,
— Weiss Ratings (@WeissRatings) October 18, 2018
The Bitcoin price slide and for most altcoins is due to the loss of value of the dollar for Bitcoin. However, some of the coins listed in the top 10, are experiencing special circumstances.
Among the altcoins, ZCL (ZClassic) has experienced the biggest loss. Its value lost 99%, from being $200 a piece to $3.42 a piece. The over-inflation of the price was because of Bitcoin Private hard fork hype. ZCL experienced the same patterns before. It experienced a hard fork and then crashed right after it happened.
BTCD (Bitcoin Diamond) is also another big loser since it shed 97% of its price. GAME (GameCredits) went down by 98%, while EMC2 (Einsteinium) lost 97%.
The bitcoin network and crypto market have always been unstable. The losses these altcoins are experiencing is not something new.
Do you think these altcoins can recover from these losses?
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