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Why Cryptocurrency Is Going Down Today

Why Is The Cryptocurrency Market So Volatile: Expert Take

Why Is The Cryptocurrency Market So Volatile: Expert Take

Why Is the Cryptocurrency Market So Volatile: Expert Take Four years of volatility in the stock market can be covered in a month by cryptocurrency pricing movements. In our Expert Takes, opinion leaders from inside and outside the crypto industry express their views, share their experience and give professional advice. Expert Takes cover everything from Blockchain technology and ICO funding to taxation, regulation and cryptocurrency adoption by different sectors of the economy. If you would like to contribute an Expert Take, please email your ideas and CV to [email protected] . Last year was the least volatile in stock market history of decades. Traders who historically have profited off of pricing swings have given their jobs to high-frequency trading algorithms run by computers that act on the millisecond. On Wall Street, humans are a commodity being replaced by machines, and yet four years of volatility in the stock market can be covered in a month of pricing movements in the cryptocurrency markets. Veteran cryptocurrency investors know this to be a fact, but exactly why is this asset class more volatile than any other liquid asset in the market? Despite company sized valuations, cryptocurrencies dont sell a product, earn revenue or employ thousands of people. They generally dont return dividends, and just a tiny amount of the total value of the currency goes into evolving it. Because of this, it is hard to value. How do we know if it is overbought or oversold? When is it a good value or overpriced? Without any fundamentals to base this information off of, we can only rely on market sentiment, often dictated by the media that makes money on viewership. Cryptocurrency is a worldwide phenomenon, and while governments are clamping down on the industry, regula Continue reading >>

Bitcoins Price Crashed, But Its Still Devouring An Obscene Amount Of Energy

Bitcoins Price Crashed, But Its Still Devouring An Obscene Amount Of Energy

Bitcoins price crashed, but its still devouring an obscene amount of energy Electricity consumption from Bitcoin rose to a record high of 47 terawatt-hours this week. This is not what an actual bitcoin looks like. Bitcoin is plummeting, with the price of a coin falling from a December high of $19,500 to $8,242 as of Tuesday morning. The crash came a day after Wall Street got its own long-overdue correction: The Dow Jones Industrial Average fell by 4.6 percent on Monday, the worst point drop for the index ever. Bitcoins peaks and valleys over the last six months Last years soaring Bitcoin prices led to a huge speculation frenzy , but now coin holders are rattled . Facebook is banning ads promoting Bitcoin and other cryptocurrencies, while banks including Citigroup, Bank of America, Capital One, and Discover have stopped Bitcoin purchases on credit. Some Bitcoin enthusiasts and market analysts believe this is the start of a true crash , including Nouriel Roubini, a professor at New York University who is one of the worlds most well-known economists. As expected Bitcoin now crashes below $6000. Now the $5K handle is reached. And the US Congressional Hearing on Crypto-Scams is still a day away. HODL nuts will hold their melting Bitcoins all the way down to ZERO while scammers and whales dump and run... Nouriel Roubini (@Nouriel) February 6, 2018 (HODL is Bitcoin lingo for hold on for dear life, referring to coin holders that dont want to sell in hopes of a rebound.) But others say the current decline is a typical seasonal event. Here I tweet again the course of Bitcoin the last 4 years. January: Bitcoin went down the last 4 years. February: Bitcoin went up in mid-February. Daagle [Hashgraph vs. Blockchain] (@Daagle23) February 3, 2018 The drop in price, though, hasnt had m Continue reading >>

Why Are Cryptocurrencies Dropping?

Why Are Cryptocurrencies Dropping?

Disclaimer: I am a professional blockchain assets trader and Im long Bitcoin and Ethereum. Dont take anything I wrote as a trading or investment recommendation. By mid June Bitcoin as well as Ethereum and most other blockchain assets where trading at all time high levels having increased in price multiple times. Bitcoin started this year at $1000 and touched $3000. Ethereum bull run took it from $8 to $400 in that same period and the story is more or less the same for all top cryptocurrencies and tokens. One month after we are now in deep correction territory with Bitcoin and Ethereum having shed 35% and 55% of its value respectively as of writing. So is this the tulip mania like bubble exploding as many have suggested? Is it the end of cryptocurrencies? Well I dont think that this is the case at all. There are some very clear drivers behind the recent price action. Lets take a look at them. Uncertainty on Bitcoins scaling outcome. Markets are information discounting systems and do not like uncertainty usually reacting with sell offs whenever it is not clear how a significant event will play out. Bitcoin markets are no exception and August 1st is showdown time for Bitcoins civil war on scalability. I will not get into the details of this years long debate as well as the motives behind the contending factions. There are plenty of authoritative resources on both camps. The relevant thing to consider price wise is hat there are many possible scenarios after August 1st which include Bitcoin forking into 2 or maybe even 3 blockchains. Another issue is that transacting on Bitcoins blockchain after that date will be risky with the real possibility of financial loss due to replay attacks or chain reorganizations. Many cautious traders are cashing out of Bitcoin ahead of these Continue reading >>

Here Is Why Ripple Dropped $20b In Market Share On Coinmarketcap

Here Is Why Ripple Dropped $20b In Market Share On Coinmarketcap

Here is why Ripple dropped $20B in market share on CoinMarketCap Concerned Ripple (XRP) hodlers were terrified to wake up to news that their coin of choice not only dropped to third place on CoinMarketCap, but also dipped a staggering $20 billion from its total market share. While the price and total market cap of Ripple did indeed take significant dips around 5AM UTC on January 8, the unexpected drops were purportedly the result of CoinMarketCaps decision to remove XRP prices from Korean exchange desks from the total average and not people pulling their investments en masse. For the record, taking Korean prices out of the equation caused Ripples overall market share to drop from over $123 billion to $103 billion on CoinMarketCap; its price registered a decrease from $3.19 to $2.67. Responding to the waves of worried crypto-traders, Ripple chief cryptographer David Schwartz took to Twitter to clarify the reason for the sudden plunge, noting that the data displayed on CoinMarketCap is somewhat misleading. While the cryptographer agreed that factoring out Korean exchange prices from the average makes sense so long as CoinMarketCap provides a notice to explain away the cause for the sudden drop in price and market cap. This is exactly how the site handles volume corrections. Coinmarketcap's decision to exclude Korean prices from the displayed XRP price made the price appear to drop, likely triggering some panic selling. Look closely at the data and don't be mislead. David Schwartz (@JoelKatz) January 8, 2018 Indeed, alternative cryptocurrency price tracking solutions like Live Coin Watch continue to show Ripple as the second largest currency by market share, boasting a market cap of $121 billion and a price of $3.16at the time of writing. Unlike such trackers though, Coin Continue reading >>

Bitcoin Price - Latest Updates: Cryptocurrency Surges Towards $10,000

Bitcoin Price - Latest Updates: Cryptocurrency Surges Towards $10,000

Bitcoin price - latest updates: Cryptocurrency surges towards $10,000 The value of the digital currency has shifted wildly over recent weeks. This article is being regularly updated with the latest changes The value of bitcoin has seen significant gains over the last week, following a period of relative stability hoveringabove $9,000. If it continues its good form, it could break above $10,000 in the coming days. The volatile cryptocurrencys price has shiftedwildly eversince mid-December - whenit hit a record high of more than $19,850 (14,214)- with frequent heavy drops and speedy recoveries. Its priceplummet back to earth in January and February, as governments and central banks around the worldraised the spectre of future regulation. Bitcoins value plummeted again shortly before Christmas, dropping by almost $2,000 (1,449) in just an hour at one point, and almost slipping below the $11,000 mark (7,970). It then bounced back, before tumbling again in mid-January, recovering again, and plummeting at the start of February before levelling out for the rest of the month. March saw bitcoin's price drop below $10,000, reachinga low of $6,500 before rebounding above $7,000. Aside from the looming prospect of regulation, aseries of high-profile thefts have also had a hand in the sudden rapid dips in value bitcoin and its rivals have experienced - the most recent of which was a failed raid on the Binancecryptocurrency exchange . Google's announcement that it would ban cryptocurrency advertising from its pages from June on the grounds that it considers it "deceptive content" was also a major blow to the sector. Recent goings-on have demonstrated just how quickly things can change for investors. It is worth $9,675as of Fridaymorning, up from around $6,500 in early April, accordi Continue reading >>

Why It's Time To Shut Down Cryptocurrencies | Pymnts.com

Why It's Time To Shut Down Cryptocurrencies | Pymnts.com

Two innovators approached a well-heeled investor asking for money. Their sales pitch was very convincing. They told this investor that their innovation was so incredibly cutting-edge that only the hopelessly uninformed would fail to recognize its value. The innovators said that they had picked him because he was smart and forward-thinking enough to see the potential. The investor, who prided himself on being and looking very smart, gave them money. The innovation sold to this investor was related to textiles, design and the fabrication of clothing. Their beta version was a suit they were making just for him. A launch date was planned. On the day of its public debut, the innovators prepared the investors new suit and dressed him. Crowds had assembled for the launch. The investors team members oohed and aahed about it before he stepped outside to show it off, remarking on the incredible innovation he was about to unveil. Out the investor went, proudly showing the world the newest innovation in clothing design and manufacturing. It was immediately obvious to the assembled crowd that something was very wrong, but the fear of being cast as hopelessly stupid kept anyone from speaking out. Eventually, someone said what everyone else thought and knew: The investors new suit was nothing more than his birthday suit. Only after that one person said something did everyone feel it was okay to chime in and remark that the investor had been duped. The story, as Im sure is now clear, is the famous Hans Christian Andersen childrens fairy tale, The Emperors New Clothes , published in 1837 . Its a storyline with some very strong parallels to the cryptocurrency stories being told and the investments they now garner. The ability to use an anonymous single currency to power a decentralized, Continue reading >>

Cryptocurrency Market Takes A Minor Fall As Bitcoin And Ethereum Retreat 4%

Cryptocurrency Market Takes A Minor Fall As Bitcoin And Ethereum Retreat 4%

After recording a $20 billion increase in valuation, the cryptocurrency market has dropped in value, as major cryptocurrencies including bitcoin and Ethereum fell by more than 4 percent. Two days ago, many analysts within the cryptocurrency sector stated that a $20 billion overnight drop in the valuation of the cryptocurrency market was caused by FUD (fear, uncertainty, doubt) around Binance, the worlds largest cryptocurrency exchange. However, it was evident that the market did not fall due to Binance, and it was overreaching to conclude that major cryptocurrencies fell in value by more than 5 percent because Binance received a simple letter from the Japanese financial services agency (FSA), as noted by Binance CEO Changpeng Zhao. We received a simple letter from JFSA about an hour ago. Our lawyers called JFSA immediately, and will find a solution. Protecting user interests is our top priority. No need to worry. Some negative news often turn out to be positive in the long term. Chinese have a proverb for this. New (often better) opportunities always emerge during times of change, said CZ. It was quite apparent that the market drop was caused by the Binance situation with the Japanese government because even after the FUD was clarified by the Binance team, the market continued to slump. If a single factor in Binance caused the market to fall, that factor also should have been capable of leading the market to recovery. The majority of analysts in the space attempt to justify every single movement in the market with news or some announcements, which is often extremely inaccurate and impractical. The cryptocurrency market moves up and down based on the supply and demand from the market. The market is still at its early phase, and it is comparable to the market valuation o Continue reading >>

This Week In Cryptocurrencyfebruary 23th, 2018

This Week In Cryptocurrencyfebruary 23th, 2018

This Week in CryptocurrencyFebruary 23th, 2018 This Week in CryptocurrencyFebruary 23th, 2018 Market goes up, market goes down: In usual crypto randomness, the market took a slight dip after last weeks recovery, but theres no need to worry. Were seeing positive price movements this morning, and the 7-day chart shows greener pastures on the horizon. At publishing time, the market is hovering around $460 billion, a roughly $12 billion drop from last week. Not ideal, but it could be much worse. Bitcoin: Bitcoin is the only currency in the top-ten that increased in value since last week, gaining more than $400. At its current price of $10,457 Bitcoin increased roughly 4% from $10,478. SegWit activation has transaction fees as low as ever which most likely enabled Bitcoin to swim against the sea of red. Ethereum: Ethereum fell 18% throughout the week to $800 before turning things around with a nice end-of-the-week bump. It currently sits at around $875. Ripple: Still having trouble rebounding from Januarys crash, Ripple fell an additional 10% this week. The coin is now priced at just over $1, significantly less than its $3.65 all-time high. New York City Takes on Silicon Valley With First-Ever Blockchain Week: New York City announced its first ever Blockchain Week, which will run May 11 through May 17. Events include blockchain technology summit Consensus, job fairs, and a hackathon. According to job market analytics firm Burning Glas, NY has more job openings regarding blockchain than San Francisco. New York City Economic Development Corporation Senior Vice President Anthony Hogrebe says the goal is really to plant that flag and send a very clear messagewe ultimately want NYC to be the global capital for blockchain. Wyoming Considers Pro Crypto Bills to Become Crypto Haven Continue reading >>

4 Answers - Why Cryptocurrency Prices Are Dropping These Days?

4 Answers - Why Cryptocurrency Prices Are Dropping These Days?

Why cryptocurrency prices are dropping these days? Bitcoin price drop is expected, I have been waiting for the fall. It has risen immensely in the past few weeks due to demand and legalization in several countries. The projections for the year is $3000, I didn't expect it to hit $3000 at once, already bitcoin is over-priced at this stage so I see it dropping in 5 waves until it finds a support we have experienced was 1, more waves to follow before stability. As people sell this period so would the price continue to drop, sooner or later investors would start buying again, it's pure supply and demand. If you are looking for cryptocurrencies to invest during this period contact me, but I must warn you they are not mainstream coin but their potential is strong and highly rewarding Email : [email protected] Whatsapp +2348038238027 If you're concerned about the ongoing bear trend - then you are in the wrong investment. There is an "air of uncertainty" around bitcoin at the moment that is only felt by those who have allowed themselves to be naive to the facts - which has led to a cascade affect across all alt coins. This "air of uncertainty" is manufactured. The whales, are playing you all for fools, shaking out the weak hands and preparing to take up even more of the pie while this news cycle of uncertainty (they they are prolonging) persists. The uncertainty is nothing more then a tactic, do your research and think for yourselves, and don't allow yourself to be weak at this extremely pivotal moment in crypto. Bitcoin is going through an improvement, and 80%+ of the pools are behind it, that's the only real fact that matters here - ignore the noise. Continue reading >>

The Price Of These Cryptocurrencies Just Crashed And Here's Why

The Price Of These Cryptocurrencies Just Crashed And Here's Why

The Price Of These Cryptocurrencies Just Crashed And Here's Why Those in the cryptocurrency world were shocked this morning, as ten of the world's largest cryptocurrencies took a massive plunge. All of the currencies, including Bitcoin, Ethereum, Ripple and Litecoin experienced double-digit drops in what some analysts called a "cryptocurrency bloodbath". Bitcoin specifically, fell nearly 16% down to nearly $12,000 - although there's been a marginal recovery since then. This massive drop, the first in 2018, was enough to scare the entire cryptocurrency market. Although there's no single reason for the drop, several sources and analysts point to Asian markets being the root of the action. Some suggest that it boils down to the buyers. Traders in Asian markets are predominantly buyers and have apparently been waiting for the market to settle down - suggesting that the drop is simply due to Asian buyers shifting to a more passive role. The other hand to blame, are Asian governments who are putting the crypto-market under heavy scrutiny. China is already looking to block websites and apps that offer exchange sources of any nature; South Korea's minister of finance is still in the midst of considering an outright ban. So what does this mean for cryptocurrencies in general? There are mixed reactions. Chinese and South Korean Governments are going to have a huge impact on not just the current price of cryptocurrencies, but also what neighbouring governments might decide to do. Looking past that, this drop might simply mean that itsmassive bull run from December is over. Continue reading >>

Ripple Price News: Why Is Ripple Going Down? Why Is Ripple Falling Today?

Ripple Price News: Why Is Ripple Going Down? Why Is Ripple Falling Today?

Ripple price news: Why is Ripple going down? Why is Ripple falling today? Ripple price news: Why is Ripple going down? Why is Ripple falling today? RIPPLES prices has gone down today alongside may of the other major cryptocurrencies including bitcoin as the market remains in the red. But why is Ripple falling today? XRP/USD down 7.5 percent on Monday, as the crypto market continues the bearish trend, without signs of recovery for now. Ripple is down as much as 7.5 percent in trading from Monday, as the crypto market continues to flounder. It remains business as usual for the cryptocurrency, which is now in its fourth consecutive week sitting in the red, with little sign of revitalisation. The weekend saw the price drop slightly, seeing prices as low as $0.57 this morning, currently sitting at $0.58, as of 7.30am. Continued threats of regulation and the perceived scepticism of crypto-success has seen the price of all cryptocurrency markets remain negative for the past month. Ripple price news LIVE: XRP falling today against USD in crypto crash The question of whether the bubble is about to burst is ever on the lips of investors, but the market seems to be keenly feeling the effects of these warnings early in 2018. Securities and Exchange Commission (SEC) again rattled investors as they promised to bring cryptocurrencies to regulation amid fears of widespread hacks. Adding to this, a Japanese Bitcoin investor known as Tokyo Whale rocked the market with a shockingcrpyto-firesale, panicking investors. Despite the apparent doom and gloom, Ripple co-founder, Jed McCaleb, is striving to make Ripple the most successful crypto coin on the market. Ripple price news: Ripple price is falling today Speaking to CNBC, McCaleb says the secret ingredient to a successfulcryptocurrencyis Continue reading >>

Crypto Market Update: Coins Down Across The Board After Brief Stint Of Green

Crypto Market Update: Coins Down Across The Board After Brief Stint Of Green

Crypto Market Update: Coins Down Across The Board After Brief Stint Of Green The cryptomarkets are showing another slump, with almost all the top 20 coins on CoinMarketCap in the red. After a volatile beginning of the new year, the crypto markets are again falling across the board. Almost all of the top twenty coins on CoinMarketCap are in the red on Monday, Jan. 22, with the biggest loss around 13 percent over a 24 hour period. Bitcoin (BTC) is approaching $10,000 again, a threshold that it had briefly dipped below on Jan. 17. BTC is trading for around $10,709 by press time, with a 8.95 percent drop over a 24 hour period. Ethereum (ETH) is also below $1000, trading at around $981 at press time, with a 8.47 percent drop over a 24 hour period. The markets early year dip appears to be a repeat of previous January lows , and 2017 had already seen three large drops of 38, 40, and 29 percent. This makes Jan. 17s over 30 percent slide of both BTC and ETH seem to fit into a previously recorded pattern. This current dip could be related to a Wall Street strategist predicting a 70 to 90 percent price drop for Bitcoin on CNBC. The only two coins up are EOS , trading at around $13.29 by press time and up 2.10 percent over 24 hours, and VeChain , trading at about $8.29 and up 6.57 percent over 24 hours by press time. Total market cap is down to around $514 bln by press time, about $100 bln less than when the year began. Continue reading >>

Bitcoin Continues Falling After Being Hit With More Bad News

Bitcoin Continues Falling After Being Hit With More Bad News

Bitcoin Continues Falling After Being Hit With More Bad News I cover technology companies, worldwide economies and the stock market Opinions expressed by Forbes Contributors are their own. Bitcoin failed holding the $10,000 level last Thursday , its comeback over the weekend was not successful and it is now trading just over $7,000. It is down about 17% in the past 24 hours, 38% in the past week and 60% in the past 30 days per bitfinex.com . It has also fallen about 65% from its all-time high of just under $20,000. [Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.] A visual representation of the digital Cryptocurrency, Bitcoin. Photo Illustration by Chesnot/Getty Images The bad news keeps hitting Bitcoin. From a report last Friday by CNBC , Bank of America, Citigroup and J.P. Morgan Chase said they would no longer allow Bitcoin and other cryptocurrencies to be bought with their credit cards. Lloyds Banking Group joined the ban on Monday. While a small percentage, credit card Bitcoin buyers are playing with fire LendEDU did a poll and found that 18% of Bitcoin buyers had used their credit cards to fund their purchase. While this isnt an overwhelming percentage, the ban on using them could put a dent in demand. Of the 18% the used a credit card 22% of them did not pay off their balance after buying Bitcoins. While this is only 4% of total buyers, these consumers may not be just losing money on their purchase but also paying a high interest rate on an asset that has fallen in value. Continue reading >>

More Bad News Pushes Bitcoins Value Below $9,000

More Bad News Pushes Bitcoins Value Below $9,000

Sign up or login to join the discussions! More bad news pushes bitcoins value below $9,000 Bitcoin is now down 55 percent from its December peak. Bitcoin's month-long price slide continued on Thursday as the virtual currency fell below $9,000 for the first time since November. As we publish this article, one bitcoin is worth $8,700. That's down 12 percent over the last 24 hours and 55 percent from December's peak of $19,500. The latest price decline comes amid growing concerns that the broader cryptocurrency ecosystem has become rife with scams and other questionable behavior. None of these developments have been focused on bitcoin specifically, but the cryptocurrency ecosystem is highly interconnected. All the other major cryptocurrencies have suffered losses over the last 24 hours, and many virtual currencies have seen their value decline by double digits. The first bit of bad news this week was Facebook's announcement that it was restricting cryptocurrency ads on its various platforms. "We want people to continue to discover and learn about new products and services through Facebook ads without fear of scams or deception," Facebook wrote. Facebook described the policy as "intentionally broad" and listed "use your retirement funds to buy bitcoin" as an example of a cryptocurrency ad that wouldn't pass muster under the policy. Also this week, the Securities and Exchange Commission announced it was shutting down a little-known cryptocurrency project called AriseBank. The project was endorsed by boxer Evander Holyfield and claimed to have raised $600 million, but the SEC contends that the project was fraudulent. Meanwhile, rumors are swirling about Tether, a cryptocurrency whose value is pegged to the United States dollar. Tethers are supposed to be redeemable for dolla Continue reading >>

Some Crypto Assets Are Trending Up Amid Today's Drop

Some Crypto Assets Are Trending Up Amid Today's Drop

Some Crypto Assets Are Trending Up Amid Today's Drop Dec 22, 2017 at 19:35 UTC|UpdatedDec 22, 2017 at 19:36 UTC The vast majority of cryptocurrencies may be down on the day's trading, but new data suggests that some assets are trending up this afternoon. As reported earlier today by CoinDesk, both bitcoin and the wider cryptocurrency market saw significant declines this morning, sending some assets as low as 30% or more in price and dropping theoverall market capitalization below $500 billion. The rout also marked a significant turnaround from the gains seen earlier this week. Market data suggests that in the hours that followed, some of the cryptocurrencies caught up in the rout are trending upwards. During the afternoon trading session between 12:01 UTC and 18:00 UTC, the cryptocurrency RaiBlocks rose by 16.8 percent. By comparison, theSantimentNetwork Token climbed by 13.12 percent during that period. Two other cryptocurrencies, QASH and Veritseum, saw minor gains within the session, with those prices increasing by 2.12 percent and 1.43 percent, respectively. A fifth cryptocurrency, bitcoin cash, climbed 1.42 percent during the period.Yet as other of the top-10 cryptocurrencies today, BCH and the other four assets are down compared to their market highs from this week. Several cryptocurrencies experienced notable declines during the afternoon session. Of those, dogecoin declined the most, falling by 14.3 percent in that time. Status and IOTA fell by 13.28 percent and 12.87 percent, respectively. According to CoinDesk's Bitcoin Price Index ( BPI ), the price of bitcoin fell to as low as$10,834.94 at 14:23 UTC, a figure that has since rebounded. At the end of the afternoon session, the cryptocurrency's value was roughly $12,935. Disclosure:CoinDesk is a subsidiary of Continue reading >>

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