Welcome Steemers to my little corner of the Steemit Universe where I provide my view points on crypto currencies and more!
In under 24 hours Bitcoin's (BTC) price has dropped over $2000, which has left many investors scrambling to to close their positions in order to mitigate risk.
Overall, the crypto currency market cap has fallen over 50 billion dollars. Impacting all major players Ethereum(ETH), Litecoin(LTC), Ripple(XRP) and more.
At the moment it appears that the only crypto left unscathed is Bitcoin Cash (BCH), it has risen over 50% during this downward trend and continues to rise as I'm writing this article.
For now it appears there are no clear indicators as to why the the entire crypto market has taken a plunge, this may be due to investors trying to realize the tremendous gains made in the last 30 days, or in my opinion market manipulation by institutional investors... 50 billion dollars is a lot of money to move in a short period of time.
Thank you in advance for taking the time to read this article.
If you are interested in getting into crypto currencies you can sign up to Coinbase using my affiliate link. Sign up with $100 and we both get 10 bucks for free!
Additionally you can make donations to the wallet addresses below:
Bitcoin:
1MvdahiwEb8mAWmy62YeqRJUfCHKb8nqyW
Ether:
0x33662b1aad86efe17a54445a2c5a15e5ce4cce56
Lite Coin:
LP8Lenqebq2KJ2dc7HbtaV1gMdL2xR3C6r