Cryptocurrencies Market Overview - February 5 - Again a crypto massacre
Welcome to my Cryptocurrencies Market Overview for Monday, February 5, 2018.
Today in the news:
- The crypto markets are heavily bleeding again today.
- China will add offshore cryptocurrency exchanges and ICO websites to its Great Firewall.
- More and more banks are banning credit card customers from buying bitcoin.
- And more crypto news below...
24 Hour Change
Realtime chart on my website CoinMarkets.today
7 Day Change
Month-to-Date Change
24 Hour Volume
Market Capitalization
Bitcoin daily chart (log scale)
Mind the low Relative Strength level (RSI). Historically, this is a buy opportunity.
Feel free to use and share my charts, but please mention me as the author.
Latest Crypto News - February 05, 2018
The Crypto Market Is Down Over 50% from All-Time Highs
The total value of all publicly traded cryptocurrencies hit a combined $366 billion today, its lowest figure observed for the market since Dec. 4, data from CoinMarketCap reveals.
Read more: www.coindesk.com
Other sources:
Bitcoin Prices Again Below $8K, But Traders Forecast Fresh Upside
Bitcoin has fallen 11.23 percent in the 24 hours to press time Monday, Feb. 5, dropping below support at $8000 as its price continues to dictate altcoin performance.
Read more: cointelegraph.com
Other sources:
Ban Complete: China Blocks Foreign Crypto Exchanges To Counter ‘Financial Risks’
China will add offshore cryptocurrency exchanges and ICO websites to its Great Firewall, the South China Morning Post reported Monday, reported Feb. 5, quoting a publication affiliated with the People’s Bank of China (PBoC).
Read more: cointelegraph.com
Other sources:
- Report: China Cutting Access to Overseas Crypto Trading (Coindesk)
- China to stamp out cryptocurrency trading completely with ban on foreign platforms (Business Insider)
- China Enlists Its 'Great Firewall' to Block Bitcoin Websites (Fortune)
Ghana is Paving the Way for Cryptocurrency in Africa
Finchcoin is the first official digital currency of Ghana. Operators are planning to expand the coin in the coming months into what they call “enterprise territory” by building a Finchcoin-based bank, a crypto exchange, crypto bonds and a crypto mining station.
Read more: www.bitsonline.com
Are Insiders Secretly Loading Up on Bitcoin?
Are insiders quietly loading up on Bitcoin right now? And what mistakes are people making that you can avoid? Revealed in this new video.
Newly Discovered Vulnerability In All Ledger Hardware Wallets Puts User Funds At Risk
Hardware cryptocurrency wallet manufacturer Ledger has discovered a vulnerability that affects all of its devices and can lead to users losing their funds, according to a report released on Saturday, Feb. 3.
Read more: cointelegraph.com
New York Bill Calls for Research Into State-Backed Cryptocurrency
A New York legislator has submitted a bill calling for the state to establish a task force to study the logistics and impacts of creating and issuing a state-backed cryptocurrency.
Read more: www.ccn.com
Singapore Airlines to Use Blockchain for Loyalty Program
Singapore Airlines wants to integrate blockchain technology into its KrisFlyer loyalty program. The company will come up with a digital wallet that travelers can use to unlock value from the accumulated miles.
Read more: cryptovest.com
Other sources:
- Singapore Airlines to Launch Blockchain-Based Loyalty Wallet (Coindesk)
- Singapore Airlines To Launch ‘First’ Blockchain Loyalty App Among Competitors (Cointelegraph)
Lloyds Bank bans customers from buying bitcoins using credit cards
Lloyds Banking Group has banned credit card customers from buying bitcoin amid fears it could be left in debt as the cryptocurrency’s value deflates. The banking giant, which includes Halifax, MBNA and Bank of Scotland, is thought to be the first in the UK to ban credit card customers from borrowing to buy the cyptocurrency.
Read more: www.theguardian.com
Major Cryptocurrency Exchange Bittrex To Add USD Trading, Reopen New User Sign-ups
Bill Shihara, CEO of Bittrex, confirmed during a Unikrn Radio podcast with Unikrn CEO Rahul Sood on Jan. 31 that the Bittrex exchange will be opening up USD trading to the majority of its customers.
Read more: cointelegraph.com
Blockchain Can Change the World, South Korean Finance Minister Declares
South Korean finance minister Kim Dong-yeon has voiced his admiration for the blockchain technology and its game-changing potential.
Read more: cryptovest.com
LeadingTrader.
LoL
Long term I still believe crypto has a huge future. May take a few more years but some of these will be big.
You are very right sir
Wish I had some extra fiat on hand to pick up some crypto at such low levels. Definitely a buying opportunity for sure.
When people will see this opportunity a huge FOMO will start, I am waiting for this :))
i also try to buy some steem .i have some money....about 5k USD
suggest me which one is now for me best and how much @brandonp
No one will tell you what is right. If someone do tell you to buy this or that coin, I wouldn't trust him/her if I were you. Serious and responsible person will never such an advice. Remember: It is impossible to know which cryptocurrency will prevail.
Here's the best advice I can give you. Put all $5k into Steem. Then transfer all $5k of liquid Steem to @brandonp. He will then do some magic and in a few weeks time will give you $5.1k liquid steem back.
*full disclosure: @brandonp reserves the right to keep all Steem for himself if he so chooses.
**fullest disclosure: this is not to be considered investment advice...
thanks for information on bitcoin now day btc is down😐
China will add offshore cryptocurrency exchanges and ICO websites to its Great Firewall for this people can use VPN.
but if china will do this then its really really bad for cryptocurrency as china is big market for crypto.
Traditional stock markets are also taking a big tumble, its the calm before the storm! Looking forward to this months journey unfolding.
Major cleansing of the crypto market going on
Fantastic post. Love these stats, I'd love them more if they weren't so scary, still great info here! RT, re-steemed, and added to tonights Daily Dood.
Thank you @penguinpablo for market overview
This means alot now we don’t have to look anywhere for market overview, you are doing it in best way
And
Why banks are banning credit card customer from buying bitcoins?
Banks are banning customers from using credit cards to buy crypto because they believe the risk of crypto falling more will make it so customers can't pay back the debt.
I think crypto is gonna get little more downs and sure this is the Buy opportunity. Many with low understanding and less experience are gonna into a panic attack. They are thinking that this is the end of crypto currency, But the fact is things like this have happened before in history of crypto. This is instead a great opportunity as they are new now they can earn profit by investing. They dont do research.
By reading your posts daily they will come to know what really is happening in crypto world and what is best for them to do at the time.
its really helpful for everyone. And thanks for sharing @penguinpablo
Good perspective I keep thinking the bloodbath is over and buying in a little more then getting pissed!
Downward dollar-cost-averaging is a real thing. I'm not saying you should or shouldn't do it but it is a legit point of view.
No I really do understand but for me it’s one that makes my head spin. Where’s a good place to start to learn how to do this more easily?
yes you are right