The aggregate value of all crypto currencies tumbled from $700B to $550B today. This was the worst single day in recent memory.
However the monthly chart doesn’t look so bad:
The crash was so bad that Tether, a crypto currency supposedly pegged to the dollar rose to $1.02:
Here’s more analysis and basic investing advice from one of the Youtubers I recommend, David Hay: Did the bubble burst?
What I wrote in my previous newsletter was very apropos: “many people have predicted that in 2018 governments will come for their pound of flesh. . . . I think we can reliably predict that people will seek alternatives. Decentralized Exchanges are already here and already working.”
Such bans, like the one that China proposed, will become meaningless when (not if, when) decentralized exchanges take over from their centralized counterparts.
You can invest decentralized exchanges them by buying their tokens. However there are a lot of projects in this space, and it’s hard to say who the winner(s) will be.