Cryptocurrencies Market Overview - January 17 - Red everywhere
Welcome to my Cryptocurrencies Market Overview for Wednesday, January 17, 2018.
Today in the news:
- Another red day... It's red everywhere...
- Bitconnect closes virtually its entire operation, BCC token drops 87%.
- IBM is working with container shipping giant Maersk to create a blockchain-based platform.
- The world’s fourth largest bank is planning to launch a cryptocurrency exchange.
- Blockstream is putting the Lightning Network to the test on its live company store.
- And more crypto news below...
24 Hour Change
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7 Day Change
Month-to-Date Change
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Market Capitalization
Bitcoin daily chart
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Latest Crypto News - January 17, 2018
As Bitcoin's Slide Continues, Prices Look Towards $8K
Bitcoin looks like it might soon test near-$8,000 levels, as December's record-breaking rally continues to unravel.
Read more: coindesk.com
Other sources:
- Bitcoin slumps to $10,000, half its peak price, as regulatory fears grow (Reuters)
- Bitcoin drops below $10,000 with $30 billion of value wiped off in a day as cryptocurrency sell-off deepens (CNBC)
Bitcoin Declined by 30% Five Times in 2017, Recent Correction is Tolerable
As CNBC Africa’s CryptoTrader host and producer Ran Neuner noted, bitcoin declined by 30 percent on five different occasions in 2017. This month’s 20 percent correction in bitcoin is tolerable, given the major corrections it had experienced in the past 12 months.
Read more: newsbtc.com
Japan’s Largest Bank to Launch Cryptocurrency Exchange
As bitcoin trading becomes the new mainstream in Japan, leading financial firms are stepping in to offer services to preserve their market share. MUFG, the largest bank in the country, is now planning to launch its own exchange, a pegged cryptocurrency and bitcoin segregated accounts for clients of other exchanges.
Read more: bitcoin.com
Other sources:
BitConnect is shutting down its lending and exchange platform
Following months of red flags, Bitcoin investment platform BitConnect – which has long been suspected of running a Ponzi scheme – has officially announced its platform is shutting down.
Read more: thenextweb.com
Official source:
Blockstream Launches Micropayments Processing System for Bitcoin Apps
Bitcoin startup Blockstream has released a micropayment processing system that it claims makes it simpler to build bitcoin apps on top of its Lightning Network.
Read more: coindesk.com
Other sources:
More than 200,000 sign petition in South Korea to stop government's crackdown on bitcoin 'happy dream'
A petition in South Korea against cryptocurrency regulation has reached the number of signatures that would induce a government response.
Read more: asiaone.com
China’s Alibaba Launches Crypto Mining Platform Despite Restrictions, Say Local Sources
Chinese e-commerce giant Alibaba has launched a surprise cryptocurrency mining platform, unconfirmed sources surfacing today claim.
Read more: cointelegraph.com
IBM, Maersk Partner to Create Blockchain Platform for Shipping Industry
IBM is working with container shipping giant Maersk to create a blockchain-based platform that will help speed up processing and cut costs.
Read more: cryptovest.com
Other sources:
- IBM Unveils Joint Blockchain Company with the World’s Largest Shipper
- IBM And Maersk Start Promised Blockchain Supply Chain Company
Ripple Price Drops Below Dollar Parity to Punctuate 28% Skid
The ripple price fell below dollar parity this morning, punctuating the third-largest cryptocurrency’s 28 percent skid.
Read more: ccn.com
In this red debacle STEEM fell to $2.77 at CoinMarketCap average. I would like to see if it remains as ATL (At The Low) for 2018 and onward, then I would say, it was the biggest debacle in Crypto/STEEM in 2018. Finger-crossed, we may start a new bull run from now, STEEM is back to $4 :)
I believe longterm STEEM RIVALS FACEBOOK ... in MARKETCAP $500,000,000,000
It's a damn Crypto-Red-Wedding!
But in all seriousness for everyone that is in a panic and going crazy about the price of Steem, I recommend switching to the "month-to-date" view and you will see that Steem is actually still up double-digits. Hard to be too upset when you see that!
yes right red everywhere make me more and more worry about what will happen to our investment... far from that also have the confidence about it will arise soon.. @penguinpablo
I don't worry. I'm hodling since 2014. It could take some time before the market comes up again. Patience is key!
These sell-offs seem to happen each year in mid-Januari. See my message from yesterday: https://steemit.com/bitcoin/@penguinpablo/since-2015-bitcoin-s-low-of-the-year-was-always-in-mid-january
i really want to invest more just working on it 😉
I enjoyed your post! I have my own method to remain calm and not FUD:
https://steemit.com/meme/@ozoo/no-reason-to-panic
I have been focusing on TA only not reading any news AT ALL! But whenever the market tanks I close the computer 💻 TOO HODL ...NO TRADE ALERT!!! I start to read news flow in crypto mostly for the EXCITEMENT and boy by just clicking your one post I can see the news flow is STRONG AND FAST! Glad I just trade the charts not the news😳! Thanks again for compiling information on a subject into one doc!!! Love VISUALS
It's crazy times, but I'm just gonna up my fiat earnings and buy in for some more holdings while prices are low. Like they always say, it's a clearance sale on crypto.
Buying this crash can prove to be very wise.
There are some solid projects out there with solid fundamentals. However, what scares me is that pop in the stock market bubble may have a very sizable impact on the crypto markets. A lot of investors are under the impression that bitcoin/ether is a hedge to turmoil in the legacy financial system, but I believe that notion to be quite false.
You're so nice for commenting on this post. For that, I gave you a vote!
The first Bitcoin futures contract settlement was on Jan 17th...Now that wolfs cashed their profit we should expect the price to recovers
https://steemit.com/bitcoin/@ka82/the-first-bitcoin-futures-settlement-coincide-with-bitcoin-going-under-usd10-000
Damn! Wish i had more money to put in now!!!
You and a few of my friends. If you weren't blessed like me to sell the night before the drop as I wrote in The Beginning of the Correction? then just keep what you have and don't sell. Since you don't have cash laying around, now is the time to tell others who do to buy in. The very same charts in the first post are now showing that things have settled and as a result, I am fully back in the market. The ones who are truly interested will see reason and buy now that the correction is done.
great day for buying! loving these discounts!
Good analisys