It is estimated that that the Cryptocurrency market capitalization went down to $200 billion from $800 billion that it was as at January 2018.
I believed it was due to the bearish market .
What I do not understand is while there is continuous growth of Cryptocurrency, people are picking interest and coming into the cryptosphere and yet the market capitalization is still not moving upwards.
What could be the challenge here?
Crypto market capitalization can't be compared to.. say equity market capitalization. With crypto, the stats are much more vague. For example while talking about a particular crypto, we don't know how much of that currency is in free-float and how much is in reserves. There are cryptos out there, with less than 10% of the circulation in free-float. For such coins, the market capitalization may be heavily exaggerated.