Cryptocurrency

Dead over 800 cryptos, 70% below Bitcoin

The investor’s frenzy for cryptos is not just over, but has given way to a mass sell-off.

Analysts warn that a bubble pops, which at the moment does not seem to spark major shocks.

According to data gathered by CNBC, more than 800 cryptosancies in the market have “died”, they have seen their value virtually nil.

As for Bitcoin’s price it moves 70% lower than its historic record.

In the last year, we have seen an explosion in public offerings of cryptos, known as Initial Currency Registrations (ICOs). ICOs raised last year funds worth $ 3.8 billion last year, and $ 11.9 billion have been raised since the beginning of 2018, according to CoinSchedule.

Several experts warn that ICOs are an extremely risky investment, not only because of the strong pressures that have been received lately, but also because of the phenomenon of fraud.