Bitcoin Drops Below $5,000 as Crypto Markets See $13 Billion Sell-Off
It's the biggest sell-off since mid-July.
At press time, the total value of all publicly traded cryptocurrencies was $166 billion, a figure that was down more than 7 percent from a high of nearly $180 billion last night.
That's when bitcoin, surging on technical improvements and growing investor optimism, topped $5,000 on the CoinDesk Bitcoin Price Index for the first time.
The decline was similar to what was observed on bitcoin, with average global prices declining from a high of $5,013.91 to a low of $4,619.97, a more than $250 decline.
Full story at http://bit.ly/2wxIclP
Source: CoinDesk
Why Investors Dump After ICOs
A lot of once-promising ICOs get dumped at some point. Some go on to recover relatively quickly, while others wallow at the bottom longer than anticipated. This can cause investors to decide to save what they can of their initial investment.
One of the top reasons why people sell is simply the need for cash. Many issues crop up in people’s daily lives to warrant an immediate need for cash, and sometimes this leaves them with no choice but to sell part of their investment.
It could also be that one deems another investment opportunity more promising and decides to liquidate parts of the original investment for another. Sometimes the project simply isn’t living up to expectations. It may be that the project team has not been following their outlined roadmap or not taking other basic steps that could excite investors. Such steps include not communicating enough, not seeking to or getting listed on big exchanges, and so on. Being patient is a virtue that many in the crypto world lack.
Price manipulation could also come into play, especially by the use of trading bots which are used by some traders. Investors who own significant quantities of a token are known as whalesand may be able to control the price or manipulate it to their advantage.
Full story at http://bit.ly/2wxHcyc
Source: CoinTelegraph
Bitcoin QA: Scaling, trust, and trade-offs
Bitcoin scaling, on-chain vs. off-chain. Trustless second layer technologies. Lightning Network. Requiring a super-majority to make changes to the protocol, while others make trade-offs toward centralisation. Store-of-value. Different leagues of scaling and governance.
Full story at http://bit.ly/2vAI9IL
Source: https://steemit.com
Bubble? Think Stocks and Real Estate, Not Bitcoin
The rapid increase in the price of cryptocurrencies in 2017 has led to most people fearing the formation of a bubble and its impending explosion. What people need to fear are the bubbles in equity markets and real estate, not cryptocurrencies.
The genesis of All Time Highs in multiple asset classes can be traced to the 2008 financial crisis.
Post the collapse of Lehman Brothers and the ensuing financial mayhem, central banks around the world resorted to quantitative easing - a euphemism for the unrestricted printing of fiat. It was rationalized saying that the wheels of the financial system of the world had become stuck and needed to be "greased" to get them moving again.
"This easy money policy of Central Banks propped up asset prices, preventing people who had investments from seeing their financial worth getting wiped out".
Full story at http://bit.ly/2wyI31s
Source: CoinTelegraph
How to make upwards of $1,000 a month by mining cryptocurrency
In essence, cryptocurrencies are decentralized digital currencies that can be sent to anyone through the internet. They aren’t affiliated with any particular country so there’s no central bank that verifies these transactions. Instead, cryptocurrency miners use special software that creates a public record of each transaction and gives the miner a payment in return.
If you know what you’re doing, you can make a lot of money mining this digital currency. But how does it work and what’s the best way to do it? You can learn all of this from the Beginner’s Guide to Cryptocurrency Mining.
This course gives you access to 13 lectures so you can hit the ground running and make real money fast. You’ll learn a mining system that has low startup costs and requires no affiliate marketing or graphics card. You’ll also learn all the technical details about blockchains, general ledgers, hashes, and nonces that make up each successful transaction.
Full story at http://on.mash.to/2wy4Gmv
Source: Mashable
Bitcoin By 2020
By now, many Bitcoin enthusiasts are trying to work out a realistic projection for Bitcoin over the next few years.
From analyst Ronnie Moas who sees a $15,000-$20,000 value by late 2020 to independent views that point at $1 mln per Bitcoin, some of these predictions seem outrageous and outright impossible.
Following the activation of the SegWit protocol and early testing of the Lightning Network that SegWit enables, the Bitcoin market has been gradually edging to a capitalization of almost $80 billion. Bitcoin’s market capitalization is now about 50% of the entire crypto market and has now exceeded 1% of gold’s estimated $7 tln market cap. Bitcoin is nearly half of Visa’s $200 bln cap.
Bitcoin’s daily transaction numbers have been growing steadily. According to Coinmarketcap, Bitcoin’s daily trading volume is about 400,000 BTC per day while only 1728 new Bitcoins are created through mining each day.
Full story at http://bit.ly/2wxHcOI
Source: CoinTelegraph
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