Has the bubble burst? (Part 1)

Back in September 2017 I published an article: “Are we in a bubble?”. The question was about then skyrocketing crypto market.

At the time of the writing of the original article that what the market looked like.

Exhibit 1. Crypto Market Capitalization up to September 18, 2017.

There were a few good months left.

Exhibit 2. Crypto Market Capitalization up to September 18, 2017 — January 7, 2018.

From the all time high to now.

Exhibit 3. Crypto Market Capitalization January 7, 2018 — August 12, 2018.

And finally the whole picture.

Exhibit 4. Crypto Market Capitalization September 18, 2017 — August 12, 2018.

Perhaps, the most surprising (for me at least) observation is that the market cap today is still 50 percent higher then back in September when I wrote the original piece. Nonetheless, the market cap has shed almost three quarters of its heft from the peak in early January.

Meanwhile funding for ICOs hasn’t slowed down (at least on the surface).

Exhibit 5. ICO Funding.

However this is obscured by a couple of a major outliers: EOS and Telegram. Most people in the space would confer that ICO fundraising has become more challenging and the crowdsale is in stupor.

Thus far, I have just laid out the basic facts between then and now. In the second part, I’ll try to answer the question from the title of this article.