RATE Group | Crypto Update: Ethereum Nears $300, Ripple Plunges Below $0.30 as Selloff Deepens
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Crypto Update: Ethereum Nears $300, Ripple Plunges Below $0.30 as Selloff Deepens

11 Aug Crypto Update: Ethereum Nears $300, Ripple Plunges Below $0.30 as Selloff Deepens

Posted at 17:41h in Ethereum News by

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You know this has been an awful year when you make up a list of the 10 best performing cryptocurrencies. Based on an article published by Bitcoin.com, the victory goes to Bitcoin,  down about 52%. And this is the best performer. Other, less fortunates like Ripple (XRP) and Cardano (ADA) have fallen about 85% since New Year’s Eve.

At this point it would be easy to slip into the question: when will the crypto carnage end? Unfortunately, all efforts to figure out the answer to that question have been a waste of time, not to mention an utter embarrassment. Prices that seemed like bargains at the end of the first half of this year have continued to tumble without regard to the opinion of Charles Lee or dozens of other crypto evangelists.  

At this point, the futility of fundamental analysis should be apparent.  Someday, hopefully in the not too distant future, investors will come to agree on a set of metrics to value Bitcoin or ICOs like Hexxcoin (HEXX) but for now…

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