As we have seen that in the beginning of 2019, the price of some cryptocurrency fell due to the falling market price of the cryptocurrency. The biggest influence of the fall in the price of cryptocurrency market value is the decline in the selling price of almost all the cryptocurrency currencies, especially the price of bitcoin which dropped very dramatically at that time. Previously, the price of bitcoin reached $13000 per coin but with the decline in market value prices the price of bitcoin also fell to the price of just $3800 per one coin.
Not only bitcoin, other cryptocurrency also goes down in price because the price of the coin king drops, the price of bitcoin. Another cryptocurrency that has a very downturn is etherium, which used to be worth $ 1000 but at that time the price dropped to $200. Another cryptocurrency which also costs come down is litecoin, which used to be priced at $500, but the price dropped to $80 per coin so that people who trade and mine using this coin suffered huge losses.
Actually, not only the three coins I mentioned above have dropped the price, but there are still many other coins whose prices have dropped significantly due to the decline in the market value of cryptocurrency. However, two out of the top ten types of cryptocurrency that had decreased at that time, experienced the largest decline, namely 15% bitcoin (BTC) and Litecoin (LTC), making the two coins really dropped in the cryptocurrency market at that time. In addition to the two coins, there were actually many types of coins which experienced a very significant decline, which caused the selling price of the coin to fall.
The main cause of the decline in the price of other cryptocurrency besides bitcoin is due to the decline in the selling price of bitcoin. The fall in the price of bitcoin has seriously affected other coins so that if the price of bitcoin rises then don't be surprised if the price of other cryptocurrency will also go up because it follows the market price of the bitcoin. At present, very much cryptocurrency has increased very significantly as happened on the market today because the price of bitcoin is increasing, making other cryptocurrency prices also increase.
Really, it isn't a loss until you sell. The best thing you can do if the market fails is to just hold onto it and wait to see if it comes back up. If you are saying what if cryptos fail and never recover ever, I don't think that would ever happen.
There is too much development at this point that if governments try to shut it down it will just keep thriving. They are going to be in a position where they need to lead, follow, or get out of the way. The fact that it has lasted this long and is growing every day is a testament to that.