CS2 market cap continues recovery, avoids predicted October 30th crash

Counter-Strike fans have been left confused as the CS2 market cap continued its recovery today, despite a widely predicted October 30th crash among the skins and trading community. The market cap is now up to over $4.1 billion, up from a floor of around $3 billion just a few days ago.

It has officially been one week since Valve made it possible to trade up to knives and gloves in a new update, which unfortunately crashed the market and quickly wiped billions from the CS2 market cap. This means that many of those new knives and gloves are finally available for players to trade, which the community felt had the potential to cause another market crash. Unprecedented? Sure, but we live in weird times.

However, with that arbitrary community deadline now passed, the CS2 market cap has not seen any notable crash. Quite the opposite, actually – it has continued to rise, defying expectations (as the Counter-Strike market has done so often in recent years).

Why didn’t the CS2 market cap crash on October 30th?

In hindsight, it was perhaps obvious that the CS2 market cap would probably survive the predicted doom on October 30th. It was so widely assumed that markets would be flooded with cheap CS2 skins, and buyers were ready and waiting to capitalize. But with so many people anticipating the opportunity to pick up a bargain, why would prices drop?

The maths suggest that not nearly as many Golds are being created as expected, so the predicted flood just hasn’t happened. And so, we have ended up in a situation where players, waiting for the CS2 market cap to crash on an arbitrary date, have held off on their purchases. And everybody knows it! Ironically, the overwhelming desire for a buyer’s market has accidentally created a seller’s market. Oops.

Of course, we’ll have to see what follows now. It’s always possible that the CS2 market cap will continue to fluctuate thanks to the shaky confidence in Valve right now. But those expecting a major crash – sorry, you had a short window right after the update, and that might just be the worst it gets.