The crypto market trades mostly lower on Tuesday as traders are probably taking profit after the recent rebound that started last week.
Bitcoin is down 3.37% at $8600 paring its gains in the last 7 days to 28.4%
The total cryptocurrency market cap stand at $415.65B. Far less than the highest level seen at the start of this year.
Ethereum loses 2.61% to $843.84 but it is still 27.93% up since a week ago. Ripple is down 4.35% to $0.9985 while Bitcoin Cash loses 3.55% to $1234.31 diminishing it’s weekly gain to a solid 45.71%
In other news: Cryptocurrency traders are preparing to launch a lawsuit against Tokyo-based Coincheck later this week. (See the news section below)
Top 10 - Change Since Previous Close
Top 10 - 7 day change
Top 10 - YTD Change
Top 10 - Market Cap
Total crypto market cap: 415.65 B
Bitcoin dominance: 35.02%
Bitcoin And Ethereum In The Dow Jones
A 6.5% drop in the market cap of the Dow Jones equals to a total wipeout of the crypto space. Remember that.
Currency Table
Precious metals
Precious metals are gaining while crypto loses. No surprise actually.
Silver is trimming its YTD losses to -1.78%
One bitcoin buys 6.41 ounces of gold today. That's a slight decrease in comparisation with yesterday. And actually quite normal because gold rises
One ethereum buys 0.63 ounce of gold.
The top was 1.05 of ounces and then it dropped hard. This is remarkable because Bitcoin did the same thing when it touched 1.05 ounces of gold back in march 2013. Watch here! Will it drop again after we touched that 50 day moving average?
Alternative data
Google Trends tracks trillions of searches per year , making it one of the most useful real-time data indicators of human interest by region and category.
Google trends: Bitcoin
Again a decrease in interest as prices dropped
Google trends: Ethereum
We can see the same pattern in Ethereum
Twitter @Bitcoin
1997 new followers
Twitter @Ethereum
1016 new followers
As you can see, Interest is picking up. If you believe that price follows interest, there’s a good probability that Bitcoin & Ethereum could test new all-time highs in the next few months.
Bitcoin Snapshot
Ethereum Snapshot
Ripple Snapshot
Bitcoin Cash Snapshot
Cardano Snapshot
NEO Snapshot
Stellar Snapshot
Litecoin Snapshot
NEM Snapshot
IOTA Snapshot
News
Cryptocurrency traders to launch lawsuit against Coincheck on Thursday - lawyer
A group of cryptocurrency traders will file a lawsuit against Coincheck Inc on Thursday over last month’s theft of $530 million (£382 million) in digital money from the Tokyo-based exchange, a lawyer representing the claimants said...
BOJ Kuroda says cryptocurrency won't threaten yen, largely speculative
Bank of Japan Governor Haruhiko Kuroda said on Tuesday cryptocurrencies likely won’t threaten legal tenders like the yen any time soon as they are mostly used for speculative trading, rather than as payments and settlement means...
Gold trader gets Dubai license to trade and store cryptocurrencies
Gold trader Regal RA DMCC has become the first company in the Middle East to be awarded a license by the Dubai Multi Commodities Centre (DMCC) to trade in cryptocurrencies...
CRYPTOCURRENCIES AIM TO REVOLUTIONIZE THE GAMBLING INDUSTRY
2017 was a memorable year for the crypto world. Bitcoin and other cryptocurrencies saw a significant growth and wider adoption, while numerous projects raised millions of dollars in capital via Initial Coin Offerings (ICO). Some call it the future of money, others say it’s a bubble. Whichever it turns out to be in the end, the recent upsurge in Bitcoin’s price and the whole crypto market suggests that it isn’t going anywhere soon...
Bitcoin buyers should be aware of the risks and look after themselves, top exchange CEO says
raders tempted to invest in cryptocurrencies such as bitcoin must carry the burden of responsibility, according to the CEO of a leading cryptocurrency exchange. "I think ultimately consumers need to look out for themselves, look into the fundamentals of any coin and not rely on any particular exchange to protect them from market volatility," Jesse Powell, founder and CEO of Kraken, told CNBC on Tuesday.
South Korea Considers Bitlicense-Style System for Cryptocurrency Exchange
The South Korean government is considering introducing an approval system for cryptocurrency exchanges based on the Bitlicense model, developed by the New York State Department of Financial Services...
Iceland set to use more energy mining Bitcoin than powering homes
Iceland is expected to use more energy "mining" bitcoins and other virtual currencies this year than it uses to power its homes...