Hey all, I will share a few quick thoughts about the current cryptomarket.
As you are all aware the market have gone down a lot the past 1-2 days, and atm the whole marketcap are down from about 115 Billion to 91 billion which is about a 21% decline. It is a decline across the board but it is interesting to see that Bitcoin haven't been hit so hard, and it seems like people are more keen to hold on/switch to Bitcoin when the market is freefalling. It makes a lot of sense to me, since a lot of the other currencies haven't been used for much else than speculation so far.
Looking at the big picture, I think that this crash had to come - and that it will be a good thing in the long run for the cryptoworld. I think we can all agree that there is way to many crypto projekts with crazy marketcaps in relation to their use and future atm. So hopefully this can lead to a lot of the projekts that really don't have much to contribute with will go away, and that people will invest more in the good projekts which can in turn change the world for the better.
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