The cryptocurrency market continued its downward trend on March 28, 2018, with Bitcoin trading at around $7,954 and Ethereum at $446. The total market capitalization fell below $300 billion as bear market sentiment persisted across the digital asset sector.
Key Market Data
- Bitcoin: $7,954 (down 11.52% for 7 days)
- Ethereum: $446 (down 21.25% for 7 days)
- XRP: $0.578 (down 16.66% for 7 days)
- Total market cap: Below $300 billion
Technical Analysis
Technical indicators suggested a “sell the rallies” environment, with Ethereum testing support around the $450 level. Market analysts pointed to significant resistance levels that would need to be overcome for any meaningful recovery.
Why This Matters
The March 28, 2018 market snapshot reflects the challenges facing blockchain technology during this period of regulatory uncertainty and market correction. Despite the downturn, the underlying technology continued to develop with ongoing innovations in the blockchain space.
Disclaimer: This article is for informational purposes only.
eth down 21 pct on the week and testing 450 support. that support did not hold for long
ETH at $446 testing $450 support. that support broke within days and we saw $170 by december. the sell the rallies call was painfully accurate
egor the grind from 446 to 170 was not a crash it was a slow bleed. every week a new support level, every bounce a new hope narrative. the sell the rallies call was obvious in hindsight but living through it with bags was psychological warfare
ETH from 446 to 170 in under a year. people forget how slow the bleed was, not a crash, just a grind down week after week
BTC at $7954 down 11.5% in a week and people were calling for $20k by summer. the cope during the 2018 unwind was something else
dust_settler_ the people calling for 20k by summer actually had charts. rising wedges, RSI divergence, the works. technical analysis in a 80% drawdown is pure hopium tho
dust_settler_ the cope was legendary. every bounce people drew inverse head and shoulders patterns. ETH at 446 had folks calling for 2k by EOY. we got 170 instead
bear_scar_ the inverse H&S crowd on tradingview in 2018 was something else. ETH at 446 drawing patterns that needed a 400% pump to confirm. pure copium taxonomy
ETH down 21 percent in a week to 446. the people calling bottom here got another 80 percent drawdown coming. 2018 was brutal
ETH down 21pct in a week and people were still calling it a buy. pure copium
bearspray_42 ETH testing 450 support and failing was the signal to get out. anyone who held through that waited 9 months for relief
300B total market cap feels like a rounding error now. that bear market was brutal but it built the infrastructure everyone uses today
ETH down 21% in a single week to 446 and the only thing keeping people sane was the ICO narrative. most of those ICO tokens went to zero within 18 months
eth at $446 down 21% in a week and people were still calling for $2000 by summer. cope was strong in the 2018 bear
BTC at $7954 with total market cap under 300B. the entire crypto market was worth less than Disney. wild to look back at
BTC at 7954 with total market cap under 300B. disney was worth more than all of crypto. crazy how fast things flipped
XRP at 0.578 down 16% in a week and people still held bags until 0.17. 2018 was the great filter for sure
XRP down 16.66% in a week and the total market cap bleeding below 300B. the 2018 bear was the filter that separated people who understood the tech from tourists who bought at the december top. $300B felt like the end of crypto and it was actually the best accumulation zone in history
total market cap under 300 billion felt like the end of the world. fast forward and we are doing 10x that. perspective matters
katrin is right about perspective. 300B total market cap felt like a bloodbath but it was just a pit stop. the 2018 bear was brutal but survivable
10x from 300B puts us at 3T. we blew past that. wild how these old snapshots look like a clearance sale now
300B to 3T is a 10x but it took years of pain to get there. anyone who held through 2018 deserved the 2021 run. most didnt make it
ETH at 446 down 21% in a week and people in the comments were still bullish. the copium was insane. we had another 70% drop coming
Soren V. exactly. every support level was celebrated like a victory. 300 then 250 then 170. the hopium never stopped
BTC market cap below 300B felt apocalyptic. i was buying small amounts every week and feeling like an idiot. turned out fine
300B market cap feels like a dream now. we were all drawing inverse H&S patterns on TradingView thinking ETH at 446 was accumulation. it was distribution
Kimura R. 10x from 300B was obvious in hindsight but most people were too traumatized from the 2018 bleed to hold. the ones who did were either lucky or ideological