https://www.ccn.com/crypto-rollercoaster-explaining-the-recent-market-performance/ submitted by
Just when it appeared that the cryptocurrency market was about to bottom out just a fortnight ago (with Bitcoin reaching a reported
14-month volatility low), the market subsequently started displaying indicators of a directional shift.
Last week however, we saw a short-term appreciation in value. In typical crypto fashion it was just as rapid if not more so than the recent decline and Bitcoin, in particular, was observed
to have exceeded “a key resistance level at $7,000 after breaking out of the $6,800 mark… crucial for the short-term recovery of Bitcoin.”.
Right now however, we are looking at what some mainstream media organisations have described as an ominous price-crash: if not full-blown ‘meltdown’
Causation Between News and Value?
The reasons for the crash – like many before – are likely plenty, such as the theory of market manipulation by wealthy crypto-barons, amongst other interested parties
Just looking at the news recently, we can identify a handful of reported events and moments which might have contributed, coincided with or preceded this rapid deppreciation in value. They include:
- Goldman Sachs’ decision to shelf previously announced plans for opening a Bitcoin trading desk.
- A continued rampancy of international cryptocurrency fraud, theft, and misappropriation.
- Speculative doubt stemming from recent pump-and-dumps which utilize the ‘Bitcoin’ moniker.
- Prophetic warnings from pundits and other luminaries.
Looking at the Market
The large fall in value could be considered either a correction or a short relief. Either way, it is fair to say that if the market were to return to a more positive trajectory: we could expect the collective growth to be reflective year-over-year, exponentially.
Coinschedule (an “ICO listing and cryptocurrency portal”) recorded $3.695 billion
total funds raised in 217 from 209 ICOs. By compairson, the same site records 500% times more investment this year (up until August 2nd, 2018) – with $17.489 billion gathered from 686 ICOs so far.
It is still important to bear in mind the sobering fact that a great number
of ICOs and cryptocurrencies fail
Additional Studies and Observations Cezary Graf
(AKA Crypto Poland
) is a Polish blockchain enthusiast who recently shared a tweet which featured an image which depicted where ‘Bitcoin & The Crypto’ as a collective industry would place in Statista’s list of ‘The 100 largest companies in the world by market value in 2018 (in billions of U.S. dollars)
Graf’s post only provided information from the first page and 10 entries of Statista’s list. This suggests that the total industry value is comparable with the likes of Apple
, and Amazon
(The Big A’s) – whose combined value is over $2471.1 billion.
Veering beyond these pages however and considering cryptocurrency’s overall market value has surpassed $262,5 billion. Comparatively it would fit it closer to 17th place – best resembling the following trio of financial industry giants.
Statista isn’t the only organization to perform and curate in-depth analysis of blockchain and the cryptocurrency investment market.
Back in 2017, PricewaterhouseCoopers (AKA PwC) performed an investigation into the same criteria – entitled ‘Global Top 100 Companies by Market Capitalisation, 31 March 2017 Update
’ with similar results.
The Market Future & ICOs as a ‘Bubble’
Some of the great issues, conversely, plaguing the crypto market include fraudulent and scam ICOs: as well as honest projects which simply offer little to no value to justify their price or existence.
This is in addition to (and arguably supported by) an almost universal lack of effective regulations or standards to prevent such tokens, and has led to some going as far as to call ICOs an ‘investment bubble
If true, the space will prove unsustainable if it continues on its current trajectory: a claim which has been thrown around by those in the industry since at least the end of 2017
. If, however, things continue as they are right now then we are likely to enjoy a profitable end of 2018.
Court of the Crypto Kings
No matter the market status: the value of many a cryptocurrency lies in their viability and practical effectiveness of their end-goals, and means of achieving them. Bitcoin
of course is the original cryptocurrency and has established its value through its integrity (public whitepaper and open-source nature), as well as it’s practical effectiveness and the rate of adoption it has enjoyed upon implementation. Ethereum
is arguably one of the most successful challengers to the BTC throne so far. The project helped to instigate the now-prevalent ‘Blockchain As A Service’ (BaaS
) sector, and offers a platform upon which new utility tokens can be constructed – powered by ‘Ether
’. Lightning Bitcoin
is an example of the new market contenders. One of many which offer a direct and highly competitive alternative to many of the key features associated with Bitcoin. According to their website: ‘LBTC
’s utilitarian value as a tradeable currency is boosted by its speed and low-cost transaction fees.
Looking at New Securities Security Tokens
’ comprise a much newer field, which has been quoted to have contributed to the major crypto-crash back in January 2018. The first of these digital securities contracts were sold in December of the previous year and expired the following month – and thus, correlated with the market drop.
There has been a lot of news
regarding security tokens over the past year, including attempts to either regulate or otherwise ensure a level of safety with regards to risk and fraud prevention, as well as protection of funds. These efforts come from a combination of governments and independent projects and organizations. MOBU
is one of these projects and seeks to utilize a proprietary utility token (the eponymous ERC20 ‘MOBU’) to power its “end-to-end solution for ICOs to launch compliant security tokens on the blockchain.”. Features
of MOBU cited include KYC / AML compliance integration, enforced and maintained through Ethereum based smart-contracts.
This is in addition to what they call the “MOB20 protocol will define a set of commands that a compliant security token should implement.”
‘Bitcoin Baron’ Sentenced to Prison After Launching DDoS Attack on Government Websites. The so called Bitcoin Baron, has been sentenced to prison on June the 19 th after launching DDoS Attacks to the Madison administrative networks. This is why the Department of Justice (DoJ) of the United States decided to release a public report on the matter. The crypto baron John McAfee still insists that on December 31 2020 Bitcoin will reach the $1-mln price. The Crypto YouTube bleeds. Among the most recent events is the ‘crypto purge’ on YouTube when numerous Bitcoin bloggers and crypto traders had their videos banned from YouTube and they were prohibited from posting anything for a week. How to Earn 1000 Bitcoin on Binance. Binance took to its Twitter account around midday to ask followers if they know how to make huge wealth from the exchange without executing a single trade. The exchange inquired if having a user base of over 2,000 persons or becoming an influencer with not less than least 5,000 followers will do. After asking if a Crypto Community leader with 500+ members ... Binance Coin (BNB) - $4.84B - $34.27; Bitcoin SV (BSV) - $3.75B - $210.08; Tether (USDT) - $3.60B - $1.00; Cardano (ADA) - $2.29B - $0.09; Be nice to each other! r/CryptoCurrency is a welcoming place for all cryptocurrencies. Live Discussion on Discord Crypto Devs CryptoCurrencyMemes. Monthly Top 10 Market Cap Subreddits. r/Bitcoin r/Ethereum r/Ripple r/BitcoinCash r/Litecoin r/EOS r/Binance r ... binance bitcoin bitcoin exchange camera phone coinbase crypto exchange cryptocurrencies cryptocurrency free how to buy bitcoin sharing upload video video phone where to buy bitcoin Tweet on Twitter Share on Facebook Google+ Pinterest In an interview to Finder published on YouTube, the Bitcoin SV leader and self-assumed Satoshi Craig Wright accused Binance of wash trading and laundering money. This took place several weeks after Binance delisted Bitcoin SV. Along with Binance and CZ, Craig Wright also gave a kick to the US presidential candidate on the run – John McAfee, calling him 'Mr. Conman'. McAfee strikes back. On ...
[⤵️sotto altri link utili] ️ Binance ISCRIZIONE (scrivere 15912755 in Referral ID se non esce): http://bit.ly/BNBvg ️ Approfondimento trading su Binance : ... CZ, founder and CEO of Binance, is LIVE with us to answer ALL your questions regarding bitcoin, binance, and cryptocurrency in 2020! [This is NOT sponsored!]... Watch CNBC's full interview with billionaire investor Ron Baron - Duration: 36:39. ... Use a Debit Card on Binance US to Buy Bitcoin! - Duration: 6:57. Rex Kneisley 6,324 views. 6:57 . Shopify ... Explicamos como participar de Pool para ganar #BNB que repartirá #Binance y compartimos operaciones de #Scalping en vivo Noticia oficial de Binance: https:/... Buying Bitcoin or other cryptocurrencies like Ethereum and Binance Coin can sometimes be tough. Binance.sg is one of the new Fiat-Crypto exchange launched in Singapore. With it, people are able to ... YouTube. This is a Video for YouTube. This is the Link of YouTube: https://youtube.com Here you can find Trending Youtube Videos: https://www.youtube.com/fee... #BINANCE #BITCOIN #BTC Binance CEO Zhao: In this AMA we are discussing BTC price and talking about Bitcoin price prediction. Also, we prepared an airdrop of 10 000 BTC to giveaway for our followers. Binance Bot Tutorial, Trading Bitcoin, Ethereum and other Cryptocurrencies on the Binance Exchange. Learn How To build an algorithmic cryptocurrency trading bot with Python - email ... Crypto-Adventures #07 - BINANCE EXCHANGE - In this video I show you how to deposit Bitcoin on to the Binance Exchange, and then how to go in to the Tron Market to buy Tron using your Bitcoin. Binance Tutorial deutsch In diesem Video erfährst du wie man auf der Plattform Binance Kryptowährungen handeln kann und gegen Bitcoins kaufen und verkaufen k...