Daily crypto: Markets turn up, but “90 percent of the market will die”

Over 90 percent of all coins and tokens listed on Coinmarketcap will die. This according to the president of the Hong Kong-based crypto wallet provider Xapo, Ted Rogers. In a tweet from yesterday, he writes that the hard declines of the last days very well could be the beginning of the big extinction previously predicted by many bitcoin maximalists. In the tweet, he also declares that this is a great opportunity to buy more bitcoin when prices are low.

Ted Rogers did, however, receive some protests from Erik Voorhees, CEO of the large exchange service Shapeshift, who pointed out that Rogers contradicts himself in saying that the market crash for altcoins means that altcoins will die, but the same crash for bitcoin means an “incredible opportunity” to buy more bitcoin. Voorhees also presents an alternative theory that the crash is the result of markets driven mainly by speculation, which makes them more volatile.

So falling alts is an extinction event, and falling Bitcoin is a buying opportunity. Alternative theory: alts are more speculative, thus rise faster in bull and fall faster in bear markets.

— Erik Voorhees (@ErikVoorhees) August 14, 2018

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“The U.S. Dollar will crash”

Furthermore, the German-Finnish entrepreneur Kim Dotcom has tweeted a warning that the American dollar, as well as all other fiat currencies, will face a huge crash. This with a hundred percent certainty, according to Dotcom. Kim Dotcom became famous for starting the file-sharing site Megaupload, that was shut down in 2010 after facing a lawsuit.

Dotcom also declares that the best thing you could do to counter this fiat collapse is to buy cryptocurrencies and gold.

Trust me. Buy crypto and gold. Your USD will become worthless. With US economic collapse all old money currencies will crash.

Times will get tough. But you’ll be fine if you hedge some of your assets in preparation for the crash.

The big crash is coming 100%.

— Kim Dotcom (@KimDotcom) August 12, 2018

On the markets, the last 24 hours have been good for most cryptocurrencies. This after a few days of hard declines in the markets. Only six of the biggest one hundred cryptocurrencies actually lost value during the last 24 hours.

On the top five, xrp (+8,15%) was the biggest winner, but eos (+6,67%), ethereum (+5,80%) and bitcoin (+5,18%) showed strong growth as well. Bitcoin cash (+3,98%), however, didn’t really performed as strong as the others, but still showed good gains.

If we take a look at the top 100-list, nano (+22,36%), pundi x (+21,60%) and bitcoin gold (+18,59%) performed best, while aurora (-19,88%) and dentacoin (-6,77%) was the biggest losers.

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