Cryptocurrency analysis site PnChainFX allows its users to view data on the value of every cryptocurrency on the market. Using this data, traders can see the value of which cryptocurrencies have fallen the most since their peak.
Below is a list of these coins, their current value, maximum value, by what percentage the price of the currency has fallen, as well as the indicator by which the current value needs to be multiplied in order for it to reach its maximum again.
Why the price of these coins fell so much? ZCL and BTCP became victims of excessive hype. When the BTCP developers announced that they would be giving away free BTCP tokens to ZCL and BTC holders, the price of ZCL increased several times. However, after the fork and the decline in excitement, the prices of these tokens began to collapse.
The history of the Bitcoin Diamond cryptocurrency is very similar. Created in 2017, the BTCD token was intended to be a faster and cheaper version of BTC. As of today, we can say with confidence that the token developers have not achieved their goal. The original price of BTCD was $59, but now the coin costs less than two dollars.
What conclusions should be drawn from this?
First of all, you should always understand the fact that no matter how low the price of an asset falls, it can always fall even lower. Of course, until the price reaches $0, as in the case of Bitconnect.
In addition, sophisticated investors always stay as far away from illiquid investments as possible. Few businesses accept altcoins, and few pay with them, especially when the price of the token falls. This means that without the support of buyers, investors closing their positions push the price of the asset down.
Holding (or hodling) is not always the best strategy. A 99% drop in the price of a token means huge losses for investors, so there is nothing wrong with selling the asset in time.
According to cryptoglobe.com
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