/UCW/ The overall cryptocurrency market took a nose dive producing close to a $6 billion loss in a single day. This is not abnormal for this new arena as it finds its way from the few to the many, poking its head into the mainstream and getting the attention it desires.
There was no single event or catalyst that caused the slide, this volatility has been evident in the cryptocurrency market since Bitcoin made a big splash. It was the shiny new thing that everyone wanted but cryptocurrencies are becoming more respected globally.
There are still warning signs with ICO’s hitting the scene but some of the new ones are showing promise as they are unleashing functionality that has everyday use.