As anticipated, the price broke out and in a downward direction, busting through trend lines and even the 100 day Exponential Moving Average. The price is currently wrestling at the $10,850 USD mark, but likely will drop below that yet as volume is still relatively low to indicate a reversal. While some are claiming that this is a seasonal trend that happens every time in January, that may just be a self fulfilling prophecy.
Today Bitcoin's Marketshare was 35.63%, up from yesterday and even eating into the other top ten cryptos.
please note: I have changed to the end of day for Marketcap numbers, so please ignore discrepancies between this and prior charts
Today Bitcoin's Price hit a high of $13,843, a low of $10,195. As I wrote yesterday where I anticipated a breakout in one direction or the other, this has indeed occurred today.
Today's Bitcoin transactions totaled a volume of $18,853,800,000 US Dollars, a massive climb over yesterday.
The average Bitcoin transaction fee decreased by a decent amount, averaging $24.48 USD per transaction today, dropping lower even amidst a sea of frantic trading, and hitting a record low for 2018 thus far. How this will effect the number of stuck transactions remains to be seen.
The average number of new transactions being added every second to Bitcoin's mempool was 3.633 today, a sizable increase over yesterday's average.
The percentage of Bitcoin transactions using Segwit addresses hit a peak today of 12.59%, a small increase over yesterday's peak.
There were 313,871 new Bitcoin transactions added to the mempool today, a decent increase over yesterday's total.
Today there were 50,863 new transactions left unconfirmed by end of day, marking a massive increase over yesterday. As per blockchain.info there were still ~165,000 total unconfirmed transactions awaiting confirmation in the mempool by end of day, marking a massive decrease in the estimated number of stuck transactions over yesterday.
The average block size decreased very slightly over yesterday, holding an average size of 1.05 Megabytes. One might wonder why I even track block size, but I believe that in the coming months when segwit is adopted by large exchanges, we should see it fluctuate a little more. I also believe that in time BTC will have to increase block sizes anyway, as new research indicates that bitcoin is greatly under-utilizing its capacity due to block size.
Article Spotlight: They're all the same
If you haven't heard the news by now, the cryptocurrency market has seen a decent crash. Some altcoins have seen giant plunges in value, but so has Bitcoin. It appears that everything is on sale, with coinmarketcap.com looking like a proverbial yard sale.
Amidst the plundering and blood running in the streets, ScamConnect err... I mean BitConnect has announced it is shutting down its lending and exchange platform.
As per thenextweb.com article:
While just about everyone in cryptoland were screaming "scam" over BitConnect, there were enough suckers that refused to believe it, but the lesson learned is enough for them. No point rubbing it in their face.
Even BadBitcoin.org has had BitConnect listed on The Bad List since last march as a Ponzi Scheme, but sadly as PT Barnum is once thought to have said "there's a sucker born every minute." You can warn the smart ones, but not everyone is going to listen.
Video Spotlight: Coin Mastery
HODL Your Crypto! Bloody Tuesday, Buyer Psychology, News, Protocol Tokens + Long Term
Bonus Video
if you want to be more proactive in this community, try using steemfollower (sign in is done through steemconnect using your steemit name and your private posting key - found in your wallet under permissions). This Video will explain how the program works. It is a great way to motivate you to produce great content, and to reward others for producing great content.