Over 50% of Cryptocurrencies Are Below Their December 2018 Prices

By Andy Hao

2018 was a bad year for crypto across the board. Every one of the 134 cryptocurrencies listed with 2018 ROI data on Messari’s OnChainFX dashboard had a negative ROI. And not just a slightly negative ROI. Over half of all tokens lost 90+% of their value last year. 

And while the 2018 crypto crash was certainly jarring and off-putting to some in the crypto community, others took it as a sign that prices had bottomed out. Over 6 months into 2019, we can confirm that was not the case for many tokens. Over half of all cryptocurrencies are priced even lower than their price at the end of 2018. Among the more notable cryptocurrencies, Stellar, XRP, and IOTA all fall into this category of being down in 2018 and 2019 — and this list is growing.

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With the recent drawdown in Bitcoin prices over the past week, altcoins have suffered the same if not greater losses. Coins like Litecoin and Bitcoin SV are now down roughly 50% from their 2019 highs, which were established only weeks ago.

While 2019 continues to be filled with volatility and unimpressive performance for altcoin investors, there is a good lesson to be found. Many investors have a bias towards believing that when an asset’s value drops, it’s a better deal. The idea being that they can now get a “bargain” price on their next purchase. While that thinking works for consumer goods, the same approach can be fatal to an investor. 

A 90% drop in asset prices isn’t the same as a 90% off sale at your favorite store. And there’s nothing stopping asset values from dropping another 90% from here. All of it comes down to investor demand. Right now investors don’t have any serious demand for many of the world’s cryptocurrencies, except for coins like Binance Coin and Bitcoin — both which are still up over 100% in 2019.

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