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Cryptocurrency Investors Worry, Wait After Bitcoin Price Drop

Cryptocurrency Investors Worry, Wait After Bitcoin Price Drop

Cryptocurrency Investors Worry, Wait After Bitcoin Price Drop Cryptocurrency Investors Worry, Wait After Bitcoin Price Drop Over the last month, in a series of volatile swings, the price of the cryptocurrency bitcoin rose to a record high then plunged to less than half that value. The abrupt changes have inspired comparisons to the dot-com bubble, and underscored the extremely speculative nature of investing in cryptocurrency. By Wednesday, the price of bitcoin fell below $10,000 for the first time since Dec. 1, at one point dropping to less than $9,300 on one exchange (still significantly higher than the price just a few months ago). The price has risen back to around $12,000, but economists and investors are unsure how long it will stay there. Some speculate the recent slide was due to fear over regulatory crackdowns on the cryptocurrency market. Cryptocurrency trading hotbed South Korea has suggested a ban on trading might be possible , though the country has not yet finalized any plans. Similar reports recently circulated about China. The anxiety over anticipated crackdowns may have helped trigger a selloff across the cryptocurrency market Tuesday. The largest and best-known of hundreds of digital currencies, bitcoin is a decentralized digital currency that is bought and sold in exchanges internationally. "It's not based in dollars," Timothy Lee, a senior reporter at Ars Technica, told NPR's Scott Simon . "Instead, it has its own currency, just called the bitcoin. And its value floats against other currencies the same way the dollar and the euro float against each other." "Bitcoin is based on a revolutionary technology. Users say it's got this very effective system for verifying transactions," NPR's Uri Berliner reports . "And bitcoin believers point out that this Continue reading >>

The Rise And Fall Of Ripple Is A Case Study In Mass Hysteria

The Rise And Fall Of Ripple Is A Case Study In Mass Hysteria

The Rise and Fall of Ripple is a Case Study in Mass Hysteria Through late 2017 and early 2018, ripple was the darling of cryptocurrency. Mainstream media couldnt get enough of it, South Koreans couldnt get enough of it, and nor could crypto newcomers, who had XRP top of their shopping list. Crypto moves at a blistering pace, though, and ripples decline has been as rapid as its rise. Now the dust has settled and the hype dissipated, a retrospective reveals the mass hysteria behind the rise and fall of ripple. Also read: Markets Update: Cryptocurrency Prices Rebound But Uncertainty Still Lingers Ripple: A Case Study in Collective Obsessional Behavior In the Middle Ages, a group of nuns in a French convent began randomly mewing like cats. In 1518, the Dancing Plague in Strasbourg caused people to keel over from exhaustion after gyrating for days. In 1962, a laughter epidemic broke out in a girls boarding school in Tanzania. And in late 2017, the world became convinced that ripple was a valuable commodity. As ripples market capitalization surged, there was even talk of it overtaking bitcoin to become the worlds dominant cryptocurrency. Looking through the timeline reveals the sequence of events that contributed to the rise and fall of XRP. Up until two months ago, ripple was the great sleeper of cryptocurrency. Due to the vast number of XRP in existence, its huge market cap meant it was a constant presence in the cryptocurrency top 10. Traders hated it though, dubbing it Cripple, while decentralization purists had more ideological reasons for disliking XRP, arguing that it wasnt even a cryptocurrency. After briefly surging in May, ripple entered into a lengthy slump. Between August and December 2017, XRP traded at between 16 and 26 cents, while other altcoins were recordin Continue reading >>

Cryptocurrencies In 2018: What Can We Expect From Bitcoin And Ethereum?

Cryptocurrencies In 2018: What Can We Expect From Bitcoin And Ethereum?

Cryptocurrencies in 2018: what can we expect from Bitcoin and Ethereum? Icelands cheap energy has made it a hot spot for mining digital currencies such as bitcoin One of the hottest topics last year was the rise of cryptocurrencies, a form of digital money that can be stored without using a bank. Tech trends 2018: bitcoin, driverless cars and more The technology has gained popularity in recent years because in most cases cryptocurrencies are untraceable, The Daily Telegraph reports. This allows users to make purchases and investments anonymously. Theres only a finite amount of digital coins available. This has driven the value of some cryptocurrencies to five-figure sums. Here are some of the top virtual currencies of 2017 and how they might fare over the next 12 months: Bitcoin is currently the most valuable cryptocurrency on the market. Current prices for a single coin are priced at around 11,000, according to Coinranking . The cryptocurrency kicked off 2017 with a value of just 800 per coin before reaching its current highs. The coins substantial growth could continue this year, says Inverse, as some experts believe the digital coin could reach six-figure values. Thats because the digital currency is relatively scarce, with only 21 million coins available for people to purchase. But investor Jeremy Grantham says Bitcoin is currently experiencing a financial bubble and could plummet in value before the broad market peaks, reports CNBC . As one of the standout cryptocurrencies of the year so far, according to The Daily Telegraph , Ethereum passed the $1,000 (740) per coin mark in the first week of January. What sets it apart from Bitcoin is that Ethereums value is driven by its fast transaction speeds and hi-tech architecture, says Digital Trends ,while Bitcoins relat Continue reading >>

This Weeks Bitcoin Crash Was All About Fraud And Regulation

This Weeks Bitcoin Crash Was All About Fraud And Regulation

This weeks Bitcoin crash was all about fraud and regulation Cryptocurrencies have had a rough week: the value of bitcoin plunged to a mere 50 percent of its 2017 peak, and other currencies, such as Ethereum, Ripple, and Litecoin have seen double-digit losses compared to their heights from last year. Tuesday also witnessed the collapse of BitConnect, an anonymously operated crypto exchange that had been repeatedly accused of running a Ponzi scheme via its proprietary BCC currency. Taken together, these events may simply act as another reminder of the volatility of the cryptocurrency market, which saw bitcoin rise to a peak of $19,783 on December 17th. Bitcoin has gone through multiple crashes before: in spring 2011, in November 2013, and in January 2017. However, this current bubble comes against a new backdrop: a global tide of regulation against the inchoate cryptocurrency industry. On one hand, these regulations may be scaring bitcoin investors into selling their coins now before the full impact of regulation makes itself felt. On the other, it may also be threatening suspect exchanges such as BitConnect, with its own token declining in value by 46 percent between December 17th and January 15th the day before it announced its closure. The value of Bitcoin plunged to a mere 50 percent of its 2017 peak In the United States, regulation has reared its head in the form of the SEC. Last month, its newly formed Cyber Unit pressed charges for the first time against PlexCorps, which was accused of defrauding investors through a questionable initial coin offering, or ICO. Almost a week later, SEC chairman Jay Clayton issued a warning on cryptocurrencies to investors, hinting that the commission would begin monitoring the market more closely for any potential violations of secu Continue reading >>

Bitcoin, Ethereum, Ripple Prices Rise On February 8 - Business Insider

Bitcoin, Ethereum, Ripple Prices Rise On February 8 - Business Insider

A vertical stack of three evenly spaced horizontal lines. * Copyright 2018 Business Insider Inc. All rights reserved. Registration on or use of this site constitutes acceptance of our Major cryptocurrencies are all rising on Thursday but bitcoin is still down 20% over the last 7 days. World Bank Group President Jim Yong Kim compared cryptocurrencies to Ponzi schemes. LONDON Cryptocurrencies are rallying strongly on Thursday. After getting hosed earlier in the week , all major cryptocurrencies are solidly in the green by Thursday lunchtime in Europe. Here's how the scoreboard looks at 12.15 p.m. GMT (7.15 a.m. ET): Mati Greenspan, an analyst with trading platform eToro, said in an email: "The bounce in the crypto markets continued. Thanks in large part to a softer than expected stance from US regulators." Regulators said they are taking a "do no harm approach" to the crypto market during a Senate hearing on Wednesday. Despite the rally, bitcoin is still down around 20% over the last 7 days, as the chart at the top illustrates. The London Block Exchange, a UK bitcoin startup, writes in its daily market report on Thursday: "As we approach the weekend - traditionally a period with less trading volume and therefore more prone to wild movements, with a tendency to dip - we continue to recommend closely watching bitcoin's price to gauge the direction of the crypto markets. "While today's early hours have been positive, with bitcoin rising 8% and leaving the past day's bear channel, it's impossible to predict the short-term direction." The rally in the market comes despite more skepticism from the world of traditional finance. World Bank Group President Jim Yong Kim compared cryptocurrencies to Ponzi schemes at an event in Washington on Wednesday night. Bloomberg reports that Continue reading >>

Cryptocurrency Markets Falling After Recent Rise, Most Coins In The Red

Cryptocurrency Markets Falling After Recent Rise, Most Coins In The Red

MoneyGram (@MoneyGram) January 11, 2018 Altcoin IOTA has experienced a similar drop in early December after clarifying that Microsoft was not officially their partner, as the altcoins blog had indicated, but rather a participant in their marketplace. Altcoins Cardano and Tron have both seen about 13 and 17 percent drops respectively over 24 hours, with Cardano selling for about $0.76 at press time and Tron selling for about $0.092. The largest drop today is altcoin RaiBlocks , down around 16 percent over 24 hours and in 20th on CoinMarketCap, selling for $21.19 at press time. RaiBlocks was also one of the only two coins in the red on Jan. 12 when the rest of the market was up. RaiBlockss fall could be attributed to recent reports of a compromised web wallet for the altcoin, which has since been taken offline. Ethereum Classic (ETC) has seen the most growth over 24 hours, up more than 17 percent and selling for $44.32 at press time. This growth was likely caused by a Jan. 12 CNBC interview with Michael Sonnenshein, director at Bitcoin (BTC) and ETC investment fund Grayscale , speaking about the future of digital currency investment in terms of ETC. Altcoin Neo also saw a small rise, growing almost three percent over 24 hours and selling for $137.45 at press time, with Bitcoin Gold also slightly up with 0.37 percent growth over 24 hours and selling for $297.98 at press time. Bitcoin is down about seven percent over 24 hours and is trading at press time for an average of $13,474.70, higher than the Dec. 22 market low price of $12,850. Continue reading >>

What Will Bitcoin Be Worth In 5 Year / 2020?

What Will Bitcoin Be Worth In 5 Year / 2020?

What Will Bitcoin Be Worth In 5 year / 2020? Last updated on July 6th, 2016 at 11:44 am The following article represents the writers personal opinion only and should not be considered as investment advice. Can we accuratelypredict what would be Bitcoins price in 2020? Bitcoin has turned out to be perhaps the hottest investment commodity of all time. Once upon a time you could pickup bitcoins for less than a penny. Now? A single coin costs hundreds of dollars ($410 at the time of writing this). Still, some people are worried that bitcoin has peaked and that investing now would be like investing in fools gold. I have to disagree. Digging deeper shows that bitcoin is just starting to pickup steam, and several underlying factors suggest that the cryptocurrency will only continue to gain value in the future. Mind you, Im not the only one arguing that bitcoin will rise in price over the coming years. If I had to pick a very conservative number, Id wager that by 2020 bitcoin will be worth at least $1,000 dollars. According to the currently available information and the opinions of other experts, this number appears to be on the cautious side. Respected cryptocurrency consultant Richelle Ross is predicting that bitcoin will hit $650 dollars this year, a reasonable prediction. Daniel Masters, a co-founder of the Global Advisors multimillion dollar bitcoin fund, is predicting that bitcoin could test its all time highs in 2016 ( the all-time high so far is $1,124.76 dollars), and could reach $4,400 by 2017. If Masters prediction turns out to be correct, investors who snatch up bitcoin now could see their wealth grow ten fold in just a few years. Of course, nobody knows the future. Thats why its important to understand the underlying factors that could cause bitcoin to increase in Continue reading >>

10 Price Predictions For 10 Top Cryptocurrenciesfebruary2018

10 Price Predictions For 10 Top Cryptocurrenciesfebruary2018

10 Price Predictions for 10 Top Cryptocurrencies February2018 So, youre sitting at your computer with money to invest. You have made some good money already in the market, but you want more. Cryptocurrencies have reached a record $600 billion in market value after the recovery, with the inevitable $700 billion mark right around the corner. The price movement of top currencies remains a mystery. But it doesnt have to be. Cryptocurrencies are volatile, irrational beasts. Simple methods of forecasting grossly over/underestimate the potential of a volatile currency. For example, moving averages are used frequently to estimate future prices. Moving averages, however, suffer from many pitfalls that make them poor estimators of volatile markets. Every great and successful investor has a plan. You will add one more tool to your arsenal today. A BETTER METHOD FOR ESTIMATING CRYPTOPRICES In my prior article about estimating the movement of Bitcoin Prices , I spoke of a method that is used frequently in the stock world to estimate prices. This method is a Monte Carlo simulation using the geometric Brownian motion model. I wont cover off on the full methodology here, but essentially I am going to: Get historical daily prices for 10 top cryptocurrencies By the end of the article, you will have the following: A one-year simulation of top cryptocurrencies Likely price range of each cryptocurrency A downloadable model to complete yourself A note on forecasting, simulations, and recommendations: Monte Carlo simulations are to be used as guidelines and tools, not as gospel. I am not offering financial or investing advice. We can be 95% certain that Bitcoin prices will fall between $4,179, and $273,028 with a median of $31,380. Bitcoin Cash is peer-to-peer electronic cash for the Interne Continue reading >>

Why The Massive Fears Around Cryptocurrency Will Rise And What's Next For 2018

Why The Massive Fears Around Cryptocurrency Will Rise And What's Next For 2018

Why The Massive Fears Around Cryptocurrency Will Rise And What's Next for 2018 Opinions expressed by Forbes Contributors are their own. There is no doubt that cryptocurrency is a word that elicits a very strong response these days. On one hand, Team Crypto heralds the arena as the next big thing as they speak in blue sky terms about the future of this new form of currency that takes digital shape and is beyond restriction. In direct opposition is Team Tradition that warns of the perils of decentralization and fraud around pure digital currency. Indeed, there was nothing short of a frenzy around trading on the CBOE bitcoin futures a few days ago , while the day after reports detailed a large digital heist surrounding Ethereum. Doomsday sentiment around this new area of tech convergence with that of the financial spectrum is plentiful. Just why is there so much fear around the area of cryptocurrency, and what will 2018 mean for this pioneering area, particularly as we move to a general cashless society that is easily driven and adopted by the massive Millennial demographic? To answer this question, it's best to turn to those well-entrenched in the crypto area on a day-to-day basis. The following are real-time insights from a number of crypto executives as they see reasons behind the fears as well as key predictions for 2018 so that you can be prepared: KonstantinosKaragiannis,Chief Technology Officer, Security Consulting Practice, BT Americas on why there is so much fear around crypto: Theres fear on two sides: financial and technical. Financial is mostly that its a bubble. Every time Bitcoin pulls back in price, someone says its a bubble. Technical is that coins will be: lost, stolen/hacked, or just plain frauds (as is the case with some ICOs). His top three trends in t Continue reading >>

How The Cryptocurrency Market Will Recover

How The Cryptocurrency Market Will Recover

Every product here is independently selected by Mashable journalists. If you buy something featured, we may earn an affiliate commission which helps support our work. In the past month or so, bears have ruled the cryptocurrency market. You may not think that's a very long time, but given how fast the cryptocoin market moves, this is not some temporary flash crash. It's a hefty correction that threatens to turn into a bear market, akin to Bitcoin's slump in Jan. 2014, when price went down for about a year before they started rising again. SEE ALSO: Say hello to Buttcoin and the community celebrating Bitcoin's fall At roughly 137 billion dollars, Bitcoin is still the largest cryptocurrency by market cap, and it's still leading the market; when Bitcoin experiences a big drop, other coins follow. But why is the price of Bitcoin going down? Well, the factors are numerous, and they start with tremendous growth Bitcoin has experienced in the last year or so. Even at current price of $8,400, it's still up roughly 850 percent year-over-year. If you're an early investor, there's still a lot of room there for profit taking. Typically, an asset's price won't drop far below the market's assessment of a fair price or at least it won't stay there too long. Apple stock might fall on news about bad iPhone sales, but if the company's revenue is up exactly what happened last week you won't see a huge selloff. The total market cap of all cryptocurrencies has dwindled significantly since its peak in early January. But if you're trying to determine a fair price for Bitcoin, you'll likely hit a wall. Bitcoin's fundamentals are notoriously hard to define . Large developmental changes are either absent or far off at this point. Retailers are shunning Bitcoin as of late, and most people that bu Continue reading >>

Bitcoin To Bounce Back Says Crypto Community | City & Business | Finance | Express.co.uk

Bitcoin To Bounce Back Says Crypto Community | City & Business | Finance | Express.co.uk

LiteCoin is going down with the market dip [coindesk.com] “The drop in price is actually beneficial for the industry, as investors and cryptocurrency enthusiasts will be more incentivised to educate themselves about the space. As people become more educated it will, in turn, limit fear surrounding further price drops, as this is the nature of the volatile cryptocurrency market.  “The recent drop in prices and uncertainty in the current market is heavily influenced by a mix of an unfavourable news cycle and speculation fuelled by the media.” Gabriele Giancola, CEO and Co-Founder of Qiibee, a blockchain based loyalty ecosystem said: “South Korea has had somewhat of an impact on the current market and price situation, however we have seen prices plummet previously and the market tends to rally.  “In the long-term this will not have a big impact, as the power of blockchain and cryptocurrencies goes far beyond the price.” Investors believe this is far from the end for cryptocurrencies There are individuals within the financial world who believe bitcoin will breach the $100,000 mark this year. Kerim Derhalli, CEO of investment app Invstr, said: “Bitcoin is the next logical stage of the information revolution. This time a year ago it was worth under a $1,000. I predict next year [2018] it could hit the $50,000 to $100,000 mark. “Bitcoin is something that has gone against the established government system and seems to be winning.” Olga Feldmeier, CEO of Smart Valor, said: “it can easily go to $100,000 by the end of the next year [2018] and possibly even beyond.” Nick Spanos, founder of Zap.org and the Bitcoin Centre NYC, said: “Bitcoin has a stellar year ahead [2018]. No matter how low bitcoin went in the past, it always climbed back at least a few ti Continue reading >>

Bitcoin Price Rebounds Above $10,000 As Other Cryptocurrencies Rise

Bitcoin Price Rebounds Above $10,000 As Other Cryptocurrencies Rise

Bitcoin Price Rebounds Above $10,000 as Other Cryptocurrencies Rise By Rakesh Sharma | Updated February 26, 2018 10:45 AM EST Who is Garrett Camp, Uber Founder and Crypto Inventor? Bitcoin prices rebounded from their lows over the weekend as trading volume in the cryptocurrency increased. At 14:21 UTC on Monday, the price of a single bitcoin was $10,266.14, up 7% from its price 24 hours ago. Bitcoin's prices had dropped to a low of $9304.68 over the weekend. Trading volumes in the virtual currencyhave declined since Feb. 20, but they surged this morning. Typically, high trading volumes are indicative of high prices. Other cryptocurrencies are also trending upwards, as of this writing. Among the top 10 most valuable cryptos, NEO was the biggest gainer, rising by 17% from its price 24 hours ago. Litecoin, a cryptocurrency that was on a downward slide last week, reversed course and has recovered its price losses since the start of this year. The overall market capitalization for cryptocurrencies was $448 billion, up 7.27% from last Thursdays lows. Circle Acquires Crypto Exchange Poloniex Payments app Circle has acquired Boston-based cryptocurrency exchange Poloniex. Both companies said the acquisition will help the exchange address customer support issues and expand operations to more geographies. Circle also stated that it aims to bring more fiat connectivity across major world currencies to the exchange. Founded in 2014, Poloniex claims to be the worlds first crypto exchange to surpass $1 billion in trading volume. As of this writing, bitcoin is the dominant trading cryptocurrency, accounting for 23% of overall trading volumes at the exchange. Apart from NEO, ethereum is the only other cryptocurrency to have consistently delivered gains to traders this year. An importan Continue reading >>

2018 Could Be The Rise Of Ripple

2018 Could Be The Rise Of Ripple

2017 was a year of meteoric successful milestones for Ripple (XRP), which is starting 2018 exceeding the $2 mark. At the height of its latest surge, it briefly surpassed the value of its competitor, Ethereum. In 2017, cryptocurrencies rose from a novel, yet perhaps promising, concept that only a few heavily supported to a booming industry that some believehas the power to rectify the Venezuelan financial crisi s . Bitcoin has clearly been leading the pack in terms of both popularity and market value, but ethereum and ripple arent far behind. Ripple (XRP), in particular, has had a meteoric year : among the cryptos most recent success, XRP price is doubling and has now exceeded the $2 mark. The blockchain-based payment was built for financial institutions and banks to settle and complete transactions more quickly, affordably, and with increased security. A network that launched in 2012, ripple originated in concept as early as 2004 before bitcoin even existed. Just before the end of the year and just a week after XRP broke $1 the crypto surged and rose by a drastic 34 percent in one day. For months the currency hovered around $0.20, but after it cleared $1 for the first time, it seemed that the only way to go was up. The market capitalization of XRP is hot on the tails of ethereum and bitcoin and in fact, last week ripple surpassed ethereum if only briefly. Continue reading >>

Bitcoin Crashes To Below $6,000 - But You Can Still Make Money From It

Bitcoin Crashes To Below $6,000 - But You Can Still Make Money From It

Bitcoin crashes to below $6,000 - but you can still make money from it In the past week Bitcoin has lost $4,000 - and is now worth less than a third of it's peak price in December. But given the cyber-currency is still up 500% in a year, is this just the beginning of the fall? Could not subscribe, try again laterInvalid Email Ten years ago Bitcoin didn't exist. Five years ago they cost $12 each. 12 months ago they were almost $1,000 and just six weeks ago they were worth almost $20,000 each. Since December's high Bitcoin's price has dropped by more than two thirds - losing more than $13,000 in value - in the past week alone $4,000 has been wiped from the price according to figures from Coinbase . That's a fall of 24% in a day, 40% in a week and more than 60% in the past month, according to Coinbase figures. In the past 24 hours the price even dipped to below $6,000. That means it lost more money yesterday than it took five years to add to its worth. At the time of writing the price is $6,085 - that's the lowest since Ovtober last year. But is this the beginning of the end for the cryptocurrency or just a blip on its ascent? The beginning of the end or the end of the beginning? The good news for people who believe in the future of Bitcoin is that this is a pretty classic price drop for the cryptocurrency. When traditional shares or currencies rise over time, there are points where people who've bought them to make money sell some of their holding. It's called profit taking and tends to happen at key price levels. Bitcoins have risen in price astronomically this year (Image: Reuters) Two months ago Bitcoin broke through $10,000 (7,421) and the people looking to cash in some of their growth took money out. The price fell for a bit as a result, then surged on again to$18,0 Continue reading >>

Do You Think Bitcoin Value Will Rise Again Soon? : Cryptocurrency

Do You Think Bitcoin Value Will Rise Again Soon? : Cryptocurrency

No pumping, shilling, or FUD (fear, uncertainty, doubt). Do not use multiple sockpuppet accounts to manipulate votes to achieve a narrative. Do not solicit, complain about, or make predictions for votes. Do not incite or encourage illegal activities. Content promoting leaks, buying/selling drugs, tax evasion, etc will be removed. No malware, spyware, phishing, or pharming links. Do not post addresses or seek donations without pre-approval from the moderators. Pre-approval is granted in only the most extraordinary circumstances. High-quality submissions are encouraged. Baseless price speculation, shilling, repetitive posts et cetera are removed. "Recommend a coin" can be discussed on the daily thread. See our Expanded Rules wiki page for more details about this rule. Do not reveal personally identifying information(PII), otherwise known as doxxing yourself. Divulging how many coins you own can make you a target of hackers and identity thieves. Do not doxx other redditors even if they engaged in an illicit activity. Report them to the mods instead. Do not steal content, also known as scraping or plagiarizing. Submitting links to blogs or news sites which are notorious for this activity will result in suspension or permanent ban. Use this tool to help determine if content is stolen or not. Idealogical posts or comments about politics are considered nonconstructive, off-topic, and will be removed. Exceptions will be made for analysis of political events and how they influence cryptocurrency. No clickbait. Titles cannot be misleading. They should accurately represent the content being linked. No low-effort content typically characterized by low character count, all caps, & banal wording. Example: "SELL SELL SELL!!!", "BUY!!", or "MOON!" See our Expanded Rules wiki page for Continue reading >>

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