So, that’s why the crypto selloff wiped off sheets so quickly. It was not for lack of demand. Many crypto assets and related companies have been sold off over the past few weeks and the price of Bitcoin is down by more than 40% from just a few months ago. The crypto market has been hit hard, but the selling couldn’t have started earlier than now.
The selling was not simply because of lack of buying. There were a couple major reasons. One, there was a lot of selling of Bitcoin itself. Another, it was a big selloff of altcoins and other tokens. The big, fat losers this week were Bitcoin, Ether, EOS, and the rest of the ERC20 token market (which includes all the tokens that allow smart contract-based cryptocurrencies to work).
Just a few months ago, we spent a bunch of money selling Bitcoin for $100.00 to $300.00. The biggest loser was the Bitstamp, which was actually a very popular altcoin from the start. It sold for $200.00 on Bitstamp. The price was down but not as steep as the altcoin it sold for.
Also, many altcoins are now trading at a $100.00 price point. Bitfinex was trading for $130.00.
After all of that, and just like the previous week, Bitfinex is now trading at a lower price point than its altcoin price. Just a few days ago, Bitfinex was trading at a 100.00 price point. It’s now trading at a 50.00 price point.
With the altcoin price being so much lower than its price in Bitfinex, Bitfinex is now trading at a lower point than its price in its altcoin. The only altcoin that has a lower point than Bitfinex is BitMEX.
This is how I view the world today. If I was a hacker, I’d be pretty upset. Because I have a huge desire to make money off of my altcoin. The only altcoin I have a problem with is Bitfinex. Since the altcoin price is so low, I’m not going to use Bitfinex at all. Because in order to make money off of it, I’m going to use the altcoin, not BitMEX.
Bitfinex is still trading at a lower point than its price in its altcoin. So if I take out Bitfinex, Im going to change my view on how I feel about Bitfinex.
So now I see Bitfinex’s value in a different light. I see Bitfinex’s value as an altcoin that has the potential to be a lot more valuable when Bitfinex is used right. Bitfinex is still an altcoin with a lot of potential and I see Bitfinex as a better altcoin than BitMEX.
I thought that the price of Bitfinex would be the same as its price on this site. I think that Bitfinex is a better altcoin than BitMEX.
