In retrospect, 2018 has seen many promising cryptocurrency projects leave the green zone to languish in the red. Indeed, these digital currencies dropped from bright projects to the worst-performing coins, leaving investors with twinges of regret. Much as it is normal for cryptocurrencies to rise and fall, this hasn’t been the case with many virtual currencies.
So, we will run down 5 of the worst-performing tokens of 2018
If you invested in Qtum, you don’t need us to tell you that the currency belongs squarely on the worst-performing list, do you? Well, your guess is as good as ours. For those who didn’t know, Qtum lost about 93.9% of its entire value in Q3 2018. A crypto-based hybrid blockchain platform, Qtum lost its shine due to challenges and crashed to $3.47 USD from an ATH of $82.66 USD.
When a virtual currency loses 91% of its value, the investors could potentially commit suicide. Well, that was exactly what happened to NEM. The NEM team touted it as an enterprise-centric revolutionary project. But one would wonder, “What exactly is it revolutionizing when it crashed so helplessly?”
This is particularly worrisome given that in April 2015 investors in this project were on cloud nine when they raked in 68.5372% profits. Nonetheless, when the 2018 market downtrend struck and sustained, NEM gave ground to the sweeping tsunami. Therefore its appearance on the worst-performing list for 2018.
ICON is a blockchain project that appears on the worst-performing list for good reason. When the market-wide bearish sentiment occurred, the impact devastated ICON and its investors. Indeed, the crypto dropped 90%, spurring the holders to dump what was left of it, 10%.
Investors lost almost everything after erstwhile profits of 90%. Therefore, it is safe to say that they repaid everything they once gained.
This blockchain project set out in the hopes of displacing Ethereum. It indeed raised the hopes of investors. ADA founder Charles Hoskinson and his IOHK team have really kept their noses to the grindstone. However, a crash of 89.9% eliminated their dream of seeing Cardano displace Ethereum.
Bitcoin Gold (BTG)
This brings us to the last one, Bitcoin Gold. The global Bitcoin cryptocurrency community was awash of the news that the masked developer behind Bitcoin Gold would unmask himself/herself this year. Well, the excitement didn’t stop the Bitcoin (BTC) hard fork from slumping as it recorded 89.8% decline. Therefore, it deserves its position on the worst-performing list for 2018.
Much as a cryptoasset trader can say that these cryptos are now mostly worthless, we must not lose sight of one fact. The cryptocurrency market is highly volatile and unpredictable. Therefore, a bull run may sweep across the market at anytime, possibly compelling these coins to rocket to the moon once again.
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The post Five of the Worst-Performing Cryptocurrencies of 2018 by Ian Cooper appeared first on BittPress – Cryptocurrency News, Bitcoin & Ethereum Blockchain News.