Altcoins Continue Capitulation — Layer Ones Down More Than 75%, Others More Than 90% | CoinMarketCap

Tuesday saw carnage in the markets, and especially altcoins continue to get beaten up by a brutal sell-off.was the best out of a really bad bunch. At the time of writing, it is down 14% over the last 24 hours and 33% over the last seven days.continued its sell-off and is currently down 16% over the last 24 hours and 52% over the last seven days. It has lost more than 80% from its all-time high of over $240.did comparatively well, and is "only" down 14.

Macro expert Raoul Pal foresees an imminent recession, leading to equity markets undergoing a pretty heavy correction. Pal acknowledges that crypto is in "full panic mode" now but also says that he sees crypto as a long-term investment, where the exponential upside is paid by volatility.that he expects the bottom for Bitcoin to be between $20,000 and $25,000, implying there may be further downside to come.

While markets struggle to find some consistency, it will take a long time for many of the altcoins to regain their previous highs. This article contains links to third-party websites or other content for information purposes only . The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site.

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