Bitcoin Price Storms to $5,955 as Bitcoin Gold Fizzles

Bitcoin Price Storms to $5,955 as Bitcoin Gold Fizzles

Bitcoin Price Storms to $5,955 as Bitcoin Gold Fizzles

The crypto markets experienced a moderate recovery on Thursday, as the bitcoin price began to recover from the dip that it entered following the Bitcoin Gold hard fork. Many altcoins achieved slight price bumps as well, enabling the total cryptocurrency market cap to rise above the $172 billion mark.


Chart from CoinMarketCap

Early in the day, it appeared that the markets were heading south, continuing their movement from the previous day. However, they began to tick up on Wednesday afternoon, and the crypto market cap currently sits at $172.5 billion, which represents a 24-hour increase of $5.1 billion.


Chart from CoinMarketCap

Bitcoin Price Recovers Near $6,000

The recovery was fueled by a 7.5% bitcoin price rise. After beginning the day in decline, the bitcoin price consolidated support at the $5,485 mark and reversed its trajectory leading into Thursday morning. At present, the bitcoin price is trading at $5,955, which translates into a $99.1 billion market cap.


Bitcoin Price Chart from CoinMarketCap

It is not immediately clear what is fueling this march back toward $6,000, but many analysts believe it is an early phase of bitcoin’s eventual transformation into a mainstream asset. Standpoint Research’s Ronnie Moas, for instance, recently predicted that the bitcoin price will reach $50,000 over the course of the next decade.

 

Ethereum Price Stuck Below $300

The ethereum price made a minor gain on Thursday, advancing about seven-tenths of one percent to increase to a present value of $299. Nevertheless, it was unable to pierce the $300 mark or break out of that threshold’s gravitational pull. Ethereum maintains a market cap of about $28.5 billion.

Ethereum Price Chart from CoinMarketCap

Cash’ Rises as ‘Gold’ Fizzles

The bitcoin cash price outperformed the majority of top-tier cryptocurrencies on Thursday, rising as high as $347, although it has since tapered to $340. This is likely due to the dismal performance of Bitcoin Gold — another altcoin created from a Bitcoin fork — during its first few days on the exchanges.


Bitcoin Cash Price Chart from CoinMarketCap

Unlike Bitcoin Cash, Bitcoin Gold has virtually no community and institutional support, and that has been reflected in its declining price. After debuting near $500, the bitcoin gold price has plunged to $131 — even amid buy pressure from margin traders who needed to purchase it to pay back lenders — and this may worsen when the network officially launches and traders are able to begin making deposits on exchanges.


Bitcoin Gold Price Chart from CoinMarketCap

This bodes well for bitcoin cash, because industry observers theorize that subsequent forks of bitcoin will have diminishing returns and that the forked coins may cannibalize one another. Though it is still early, it appears that bitcoin cash will emerge the victor in this contest with bitcoin gold.

 

Altcoins Post Minor Gains

Altcoins — led by bitcoin cash — generally made gains on Thursday, although a few top 10 cryptocurrencies did not participate in the advance.


Chart from CoinMarketCap

The ripple price rose about one-half of one percent, but this was not enough to push XRP’s market cap back across the $8 billion threshold. The litecoin price increased 3%, while dash and NEM sat the rally out. Bitconnect led top 10 cryptocurrencies, posting a 12% increase that raised its price to $219, but the NEO price dropped below the $30 mark after a 4% pullback. Tenth-ranked monero achieved a minor gain, but its price continues to trade below $90.

 

Author Josiah Wilmoth on 26/10/2017

 

Posted by David Ogden Entrepreneur
David Ogden Cryptocurrency Entrepreneur

David

Managing Enormous Risk – Bitcoin and Altcoin Investment Strategies

Managing Enormous Risk - Bitcoin and Altcoin Investment Strategies

Managing Enormous Risk – Bitcoin and Altcoin Investment Strategies

While some have made millions investing in digital currencies, others would call it degenerate gambling. If you’re reading this, then you know how exciting and unpredictable the crypto world is. Fortunes are built and demolished in seconds, new and exciting technology pops up every day, and controversy rules the land. It’s pretty much the Wild West of finance.

The unprecedented growth of cryptocurrencies has attracted investors from all walks of life, many of whom have been enticed by the staggering returns made by early investors. If this sounds like you, then keep reading. Unfortunately, we're not going to teach you how to get rich in a few days; in fact, we're going to try and deter you from that objective.

Not that we don’t want you to be super-rich, don’t get us wrong. But we prefer to have more grounded goals and we want you to do the same. Investment is a tricky game and the patient person usually wins. Avoiding “fear of missing out” (FOMO) is essential, especially in crypto, where disinformation, fake news and drama are commonplace.

So what exactly is the point of this article, you may wonder? Well, today, we want to give new players in the cryptosphere some ideas on how they can begin to navigate the tricky world of investment. We feel this is important due to the growing amount of scams and low quality projects out there.

We’re not saying that the strategies we discuss are foolproof or even profitable. They are not based on any mathematical formula nor were they devised by any experienced investment professional. These are simple ideas that are popular among entrants and old school digital currency investors alike.

It’s important to note that this article is not to be taken as investment advice and that you should always remember the golden rule of investment: Never invest more than what you can afford to lose.

Diversify and play it safe

This is a simple one. If your portfolio only has one coin on it, you’re doing it wrong. Now, we know some people will say Bitcoin is the only cryptocurrency you should own, but at this point it’s safe to say that this is an absurd statement founded on feelings and ideals, rather than actual facts.

Bitcoin is thriving because it is the first and most popular cryptocurrency out there. It has the first mover advantage and it is also backed by an extensive network of miners who keep it safe. In terms of technology or features, however, Bitcoin falls short of its peers. We’re not saying you shouldn’t have Bitcoin, but you should also acknowledge other cryptocurrencies out there.

It may be a good idea to play it safe, however, and to “bet” on the most popular coins only, such as the top 10 by market capitalization. At present, those are: Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, Dash, NEM, NEO, BitConnect and Monero.
 

Bet on the idea, not the project

The world of Blockchain technology has evolved to a point where currency is just one of the many functions a cryptocurrency can have. There are smart contract platforms like Ethereum, NEO and Qtum, there are decentralized storage networks like Storj, Sia Coin and Filecoin and there are decentralized exchange platforms like Waves, Bitshares and others.

Our suggestion is, instead of buying one cryptocurrency in each category, you should spread your investment throughout multiple options inside each category. This will allow you to reduce the risk of investing in one single currency. In the world of crypto, a technical difficulty or even a grievance within one of the teams can lead to an rapid crash in the price, regardless of how promising the project and tech are. Just look at what happened with Tezos.
 

Hedging

Again, diversification is the name of the game. If you’re in crypto, then you are probably aware of how risky it all is. The cryptocurrency movement could end in days if some major security flaw was discovered or if all governments decided to ban them. The same can happen if some new and improved alternative to Blockchain technology comes along. These are, of course, worse case scenarios that are unlikely but possible nonetheless.

So, if you’re not one to have all your eggs in the same basket, you may want to extend your investment strategy to instruments outside of crypto. Precious metals, stocks, and other traditional investment vehicles may be a great addition to your portfolio and will allow you to reduce the risk you would take by investing in cryptocurrencies only.

Some companies, for example, manage cryptocurrency investment funds that combine cryptocurrency investments with investments in other sectors, like real estate. We talked to Kirill Bensonoff, CEO and founder of Caviar, about the importance of heeding your investment in the cryptocurrency space with traditional instruments.

He stated:

“We found a couple of major issues with crypto-asset investing, namely, it’s difficult and time consuming, and all assets are highly correlated. There is no ‘safety’ asset that also produces an income. We also see a movement towards having crypto be backed by traditional assets, such as gold, real estate and others, and we are addressing this head on.”

Liquidity, liquidity, liquidity

This is something that many new players forget about. You may find yourself investing in a cryptocurrency, having it increase in value several times over, only to realise that you can’t really sell it. If you try to sell large amounts at once, you’ll crash the price. Why? Because there is no liquidity. If a coin has no trading volume, significant price swings are bound to happen.

You can play it safe and avoid low volume coins all together but if you don’t want to, the least you can do is to know the risk you’re taking. CryptoCompare has a portfolio tool that allows you to analyse several risk factors in your portfolio, including volatility, exposure and, of course, liquidity. Their tool allows you to get an estimate of how long it would take to sell a certain coin based on the current volume. We asked Charles Hayter, CEO of CryptoCompare, why this tool is important for entrant users. He stated:

“We want to make it easy for users to track how well they're doing. Crypto is risky in the extreme and we want to help people understand where these risks lie and how to quantify them.”

Room to grow

Remember what we just told you about liquidity? Well, this strategy is somewhat contradictory, but it’s important to note that not all of these strategies are compatible with one another. Also, some involve more risk than others, and this one is risky. So, what do we mean with “room to grow”?

Small market cap cryptocurrencies have more growth potential than the ones at the top. Of course, other factors will determine if the price will rise or not but the idea is that, if you invest in cryptocurrencies before they are big, you may get to see your investment grow several times over.

Now, before you go to the nearest exchange and start stacking up on useless meme coins, have a think about what you want to buy. Then, perform your due diligence, check the roadmap, check the team, read the whitepaper, learn about the technology. Do everything in your power to ensure that your investment is justified. This will also make it easier for you to stick to your strategy, knowing that you are invested in something you believe in.

Technical analysis

Yes, chart wizardry. To be honest, I have no idea how it works and I admire anyone that does. All those numbers and lines give me headaches. Nevertheless, if you have it in you, learning T.A. can do wonders for your investment strategy even if you only touch the surface! We asked Jonathan Hobbs, CFA and author of the Stop Saving Start Investing: Ten Simple Rules for Effectively Investing in Funds investment book how technical analysis can be useful even for a newbie investor. He stated:

“Any good investment strategy needs rules. Technical Analysis (or “TA”) uses rules to look for price and volume patterns in charts to try and predict what’s going to happen next. It helps investors choose when to buy or sell. One example of TA is the Simple Moving Average (or “SMA”). The 50-day SMA, for instance, is the average price over the last 50 days, which changes or ‘moves’ each day. When an investment starts trading above its SMA, this is could be a bullish sign. Since TA can also protect the downside, it’s a good risk management tool for volatile investments like cryptocurrencies.”

Proof of Stake interest

A lot of people would love to invest in cryptocurrency mining, but at this point, you either go big or go home. Mining has become an industrialized practice reserved only for those with large financial backing, high tech equipment and access to low energy prices. Although there are several alternatives to traditional mining, Proof of Stake is the most relevant one for the subject at hand.

To put it simply, Proof of Stake allows users to “mine” coins without mining equipment. In this system, the amount of coins a user holds will determine how many coins he mines. Although most PoS cryptocurrencies will require you to leave your wallet running, some implementations of PoS like Waves and Lisk allow you to earn interest by leasing or delegating your stake.

Do note that you shouldn’t go out and buy every PoS coin out there. You should, however, check your holdings for these types of coins and, if you have them, mine them! In the worst case scenario, you’ll need to leave the wallet running which can be done with any laptop or even a Raspberry Pi device.

 

Author: Frisco d'Anconia

 

Posted by David Ogden Entrepreneur
David Ogden Cryptocurrency Entrepreneur

David

Bitcoin Price Bounces Back, Crypto Markets Recover to $170 Billion

Bitcoin Price Bounces Back, Crypto Markets Recover to $170 Billion

Bitcoin Price Bounces Back, Crypto Markets Recover to $170 Billion

The crypto markets bounced back on Thursday following a significant contraction the previous day. The bitcoin price led the charge, rising more than 6% to put the $5,700 barrier within its sights, while the ethereum price ticked up 3% to $309. Unfortunately, the recovery was not comprehensive, and some cryptocurrencies — including ripple — continued to decline.


Chart from CoinMarketCap

The downturn forced the total cryptocurrency market cap as far down as $156.5 million, which represented a one-week low. However, the markets began to recover Wednesday afternoon and quickly rose above $160 billion. They continued to climb leading into Thursday morning and have since risen to a present value of $169.7 billion.

Chart from CoinMarketCap

Bitcoin Price Bounces Back

Wednesday’s bitcoin price decline caught many investors by surprise, and it was difficult to ascertain what caused it, other than that traders were taking profits following last week’s rally. The pullback put severe downward pressure on the bitcoin price, which fell as low as $5,151. However, bitcoin held firm at this level, and support gradually began to return, enabling the flagship cryptocurrency to mount a successful recovery. Ultimately, the bitcoin price posted a single-day return of 6%, bringing it to a present value of $5,679, which translates into a $94.5 billion market cap.

Bitcoin Price Chart from CoinMarketCap

Ethereum Price Holds Above $300

The ethereum price experienced a single-day recovery as well, although its performance was not quite as impressive as that of bitcoin. After dipping as low as $291, the ethereum price managed to fight its way back across the $300 threshold. Ethereum is currently trading at $309, which represents a 24-hour recovery of about 3%. Ethereum now has a market cap of $29.4 billion.

Ethereum Price Chart from CoinMarketCap

Altcoins Eye Generally Recovery

Altcoins lost ground to bitcoin on Thursday, which saw its dominant market share rise about 1% to 55.7%. However, the majority of altcoins experienced recoveries against the value of USD, adding about $2 billion to their combined market cap.

Altcoin Price Chart from CoinMarketCap

But there were some significant outliers. In fact, three of the top 10 cryptocurrencies posted negative movement for the day, and the worst performance belonged to ripple. XRP holders had expected Ripple to make a major announcement during “Swell”, a conference hosted by the fintech startup. However, nothing materialized — at least not of the caliber they were expecting — causing the ripple price to add to its losses from yesterday. At present, the ripple price is $0.212, which represents a 24-hour decline of 7%.

Ripple Price Chart from CoinMarketCap

Fourth-ranked bitcoin cash also posted a minor decline, causing it to tick down to about $334. Several major bitcoin cash proponents — including Roger Ver and Calvin Ayre — intend to start a campaign to assert that “bitcoin cash is bitcoin”, so it will be interesting to see if this has any lasting effects on the trajectory of BCH.

Litecoin Price Chart from CoinMarketCap

The litecoin price, on the other hand, rose by 8%. This advance pushed it back over the $60 threshold, and litecoin is currently priced at $61. This translates into a market cap of $3.2 billion.

Dash added 3%, but it was unable to climb past the $300 mark, while NEM surged by just under 10%. NEO declined 3% after weathering the Wednesday downturn quite respectably, and bitconnect rose by 8% to $201. Monero rounds out the top 10 with a 1% increase, which was just enough to inch above the $90 barrier.

Author: Josiah Wilmoth on 19/10/2017

 

Posted by David Ogden Entrepreneur
David Ogden Cryptocurrency Entrepreneur

 

David

IMF Head – Cryptocurrency Could Be the Future. Really.

IMF Head - Cryptocurrency Could Be the Future. Really.

IMF Head – Cryptocurrency Could Be the Future. Really.

Christine Lagarde sees a path ahead for cryptocurrency.

The managing director of the International Monetary Fund, or IMF, talked up the potential of virtual currencies to supplant traditional monies in coming decades on Friday. Cryptocurrencies, or virtual currencies, are a new class of digital assets powered by blockchains, distributed ledgers that made their name underpinning networks like Bitcoin and Ethereum.

Unlike JPMorgan Chase CEO Jamie Dimon and billionaire hedge fund founder Ray Dalio, who have recently disparaged Bitcoin, the world's most well known cryptocurrency, Lagarde shared a rosier vision of the general technology's future with attendees of a Bank of England conference in London. "In many ways, virtual currencies might just give existing currencies and monetary policy a run for their money," she said.

"It may not be wise to dismiss virtual currencies," Lagarde told the audience. "Instead, citizens may one day prefer virtual currencies."

Lagarde devoted a third of her talk, which envisioned how financial tech may reshape the world by the year 2040, to the subject of cryptocurrency. She noted that digital money could gain popularity as engineers work through technology issues related to processing more payments through blockchain networks in the future.

"Why might citizens hold virtual currencies rather than physical dollars, euros, or sterling? Because it may one day be easier and safer than obtaining paper bills, especially in remote regions," Lagarde said. "Virtual currencies could actually become more stable."

Lagarde couched her predictions with the pretense of sci-fi ("Are you ready to jump on my [hovering drone] pod and explore the future together?" she said), but her forecast matches the view of other big-name optimists, like Fidelity CEO Abigail Johnson. "I'm a believer," Johnson said at an industry conference earlier this year about digital currencies.

Other topics Lagarde touched on included the possible disruption of the traditional banking business model by fintech upstarts as well as the advent of artificial intelligence.

You can read Lagarde's prepared remarks in full here, or read on for the segment about cryptocurrency, below.

1. Virtual currencies

Let us start with virtual currencies. To be clear, this is not about digital payments in existing currencies—through Paypal and other “e-money” providers such as Alipay in China, or M-Pesa in Kenya.

Virtual currencies are in a different category, because they provide their own unit of account and payment systems. These systems allow for peer-to-peer transactions without central clearinghouses, without central banks.

For now, virtual currencies such as Bitcoin pose little or no challenge to the existing order of fiat currencies and central banks. Why? Because they are too volatile, too risky, too energy intensive, and because the underlying technologies are not yet scalable. Many are too opaque for regulators; and some have been hacked.

But many of these are technological challenges that could be addressed over time. Not so long ago, some experts argued that personal computers would never be adopted, and that tablets would only be used as expensive coffee trays. So I think it may not be wise to dismiss virtual currencies.

Better value for money?

For instance, think of countries with weak institutions and unstable national currencies. Instead of adopting the currency of another country—such as the U.S. dollar—some of these economies might see a growing use of virtual currencies. Call it dollarization 2.0.

IMF experience shows that there is a tipping point beyond which coordination around a new currency is exponential. In the Seychelles, for example, dollarization jumped from 20 percent in 2006 to 60 percent in 2008.

And yet, why might citizens hold virtual currencies rather than physical dollars, euros, or sterling? Because it may one day be easier and safer than obtaining paper bills, especially in remote regions. And because virtual currencies could actually become more stable.

For instance, they could be issued one-for-one for dollars, or a stable basket of currencies. Issuance could be fully transparent, governed by a credible, pre-defined rule, an algorithm that can be monitored…or even a “smart rule” that might reflect changing macroeconomic circumstances.

So in many ways, virtual currencies might just give existing currencies and monetary policy a run for their money. The best response by central bankers is to continue running effective monetary policy, while being open to fresh ideas and new demands, as economies evolve.

Better payment services?

For example, consider the growing demand for new payment services in countries where the shared, decentralized service economy is taking off.

This is an economy rooted in peer-to-peer transactions, in frequent, small-value payments, often across borders.

Four dollars for gardening tips from a lady in New Zealand, three euros for an expert translation of a Japanese poem, and 80 pence for a virtual rendering of historic Fleet Street: these payments can be made with credit cards and other forms of e-money. But the charges are relatively high for small-value transactions, especially across borders.

Instead, citizens may one day prefer virtual currencies, since they potentially offer the same cost and convenience as cash—no settlement risks, no clearing delays, no central registration, no intermediary to check accounts and identities. If privately issued virtual currencies remain risky and unstable, citizens may even call on central banks to provide digital forms of legal tender.

So, when the new service economy comes knocking on the Bank of England’s door, will you welcome it inside? Offer it tea—and financial liquidity?

Author: Robert Hackett

Posted by David Ogden Entrpreneur
David Ogden Cryptocurrency entreprenur

 

David

Ethereum, Bitcoin Prices Slide as Market Sheds $10 Billion

Ethereum, Bitcoin Prices Slide as Market Sheds $10 Billion

Ethereum, Bitcoin Prices Slide as Market Sheds $10 Billion

The crypto markets took a steep downward turn on Friday, with more than 90 of the top 100 cryptocurrencies posting single-day price declines. The bitcoin price dropped nearly $400 after challenging the $4,000 level earlier in the week, while the ethereum price slipped below $260.

Chart from CoinMarketCap

The total cryptocurrency market cap–the combined value of all cryptocurrencies–dropped more than $10 billion for the day. After beginning the day at about $133 billion, the crypto market cap quickly dropped below the $130 billion threshold, where it languished leading into Friday morning. At present, the total crypto market cap is about $122 billion.

Chart from CoinMarketCap

Bitcoin Price Dips Toward $3,500

Bitcoin was at the head of the retreat, dipping nearly $400 from its Thursday morning mark of $3,900. Market manipulation or not, the bitcoin price has tapered quite a bit since its early-week recovery. In the past day alone, it has dipped 6%, despite the fact that a prominent industry figure said a trusted source had told him that China will not extend its bitcoin crackdown to mining. At present, the bitcoin price is trading at a global average of $3,564, which translates into a $59.1 billion market cap.

Bitcoin Price Chart from CoinMarketCap

Meanwhile, JP Morgan CEO Jamie Dimon has taken another potshot at bitcoin, claiming that it’s “worth nothing” just a week after calling it a fraud.

Ethereum Price Dips Another 6%

The ethereum price mirrored bitcoin’s decline, dipping 6% for the day. After entering the day above $270, the ethereum price struggled to hold above that mark. Ultimately, it dove through the $260 level, too, bringing it to a current price of $257. Ethereum now has a market cap of $24.4 billion.

Ethereum Price Chart from CoinMarketCap

Bitcoin Cash Posts Double-Digit Decline

The bitcoin cash price careened downward on Friday, posting the worst single-day performance of any top 15 coin. Within the past 24 hours, the bitcoin cash price has fallen by more than $50–a 10% drop. At present, bitcoin cash is trading at $407 and has a market cap of just $6.8 billion.

Bitcoin Cash Price Chart from CoinMarketCap

Altcoins Trend Down

The altcoin markets joined in the retreat, with nearly every top 100 cryptocurrency declining for the day. Fourth-ranked Ripple saw its price fall 5% to $0.17, while Dash slid 3% to $337.

Altcoin Price Chart from CoinMarketCap

The litecoin price fell 8% to just under $46. The 6th-ranked coin now sits at just 50% of the $92 record it set on September 2.

Litecoin Price Chart from CoinMarketCap

NEM–whose single-day trading volume is just $3 million–declined 6% to $0.204, while IOTA dropped 5% to $0.484. Monero, whose price approached $150 less than a month ago, is now trading at just $85 following Friday’s 7% skid. Ethereum classic rounds out the top 10 with an 8% decline that forced its market cap below $1 billion.
 

Author: Josiah Wilmoth on 22/09/2017

 

Postedby David Ogden Entrepreneur

David

Record $5,000 Bitcoin Price Triggers $13 Billion Market Sell-Off

Record $5,000 Bitcoin Price Triggers $13 Billion Market Sell-Off

Record $5,000 Bitcoin Price Triggers $13 Billion Market Sell-Off

The bitcoin price touched $5,000 this morning, ushering in a historic moment for the cryptocurrency ecosystem. Unfortunately, this achievement also triggered off a comprehensive market sell-off. Almost every major cryptocurrency–including ethereum, Ripple, and IOTA–experienced significant price decreases.

Record $5,000 Bitcoin Price Triggers $13 Billion Market Sell-Off

Chart from CoinMarketCap

The sell-off led to a significant crypto market cap pullback. At the height of the rally, the total value of all cryptocurrencies reached $179.7 billion–a new all-time high. However, nearly $13 billion of that has evaporated in the past 12 hours, bringing the current market cap to about $167 billion.

Chart from CoinMarketCap

Bitcoin Price Hits $5,000, then Dives

The bitcoin price crossed the $5,000 threshold on several exchanges during the early morning hours of September 2, raising the global average price to an all-time high of $4,975. Unfortunately, the bitcoin price did not sustain that level for long. By 3:30 UTC, the bitcoin price had fallen to $4,800. Within another three hours, it had plunged to $4,625. Bitcoin rallied back to $4,775, but the upward momentum did not continue. By the time of writing, the bitcoin price had dropped to $4,630, which translates to a $76.6 billion market cap.

Bitcoin Price Chart from CoinMarketCap

Ethereum Price Rally Stalls

The bitcoin sell-off led to a widespread market pullback, and the ethereum price was not immune. For most of September 1, the ethereum price hovered at about $390. But once bitcoin began to fall, ethereum followed. The ethereum price plunged as low as $352 at 6:00 UTC and currently sits at $357. This reduced ethereum’s market cap to $33.7 billion–a 24-hour decline of 8%.

Ethereum Price Chart from CoinMarketCap

Litecoin Price Reaches $92 for New ATH

The altcoin markets turned red following the bitcoin sell-off, and only three top 25 cryptocurrencies made positive movement for the day.

After inching back to $600 yesterday, the bitcoin cash price dropped to $591. The Ripple price mirrored ethereum’s plight, dropping 8% to $0.231.

Altcoin Price Chart from CoinMarketCap

Litecoin was one of the rare coins with a 24-hour price increase. The litecoin price increased 6% to $80. During the past day, only bitcoin boasted a trading volume greater than litecoin’s $1.7 billion.

However, what this statistic conceals is the fact that the litecoin price had actually risen to a new all-time high of $92 this morning, meaning that it has dropped $12 from its daily peak. Litecoin now has a market cap greater than $4.2 billion.

Litecoin Price Chart from CoinMarketCap

The NEM price fell 5% but maintained a slight market cap edge on Dash, which returned a 6% decline. The Monero price, meanwhile, fell 8%, forcing its market cap below $2 billion. Tenth-ranked IOTA had the worst performance of any top 10 coin, plunging 20% to $0.678.

IOTA Price Chart from CoinMarketCap

Aside from litecoin, only two top 25 cryptocurrencies increased in value over the past 24 hours. Ethereum classic, now ranked 9th, grew 3% to $20 as part of its latter-week rally. NEO, which recently dropped out of the top 10 following a steep decline, managed to defy the wider markets and rise 5% to $33.

Bitcoin Dominance Stable for Week

Bitcoin’s slice of the total crypto market cap ended the week at 45.8%, which is just slightly below where it began. Ethereum’s share had swelled during the middle of the week but had tapered to 20.1% by Saturday. Litecoin recorded the week’s most significant gains, rising from 1.7% on August 26 to 2.5% on September 2.

Market Cap Distribution Chart from CoinMarketCap

As the distribution currently stands, bitcoin cash and Ripple account for 5.9% and 5.3%, respectively. The remaining ~20% is divided between the other 1,000 or so coins and assets tracked by CoinMarketCap

 

Author: Josiah Wilmoth on 02/09/2017

Posted by David Ogden Entrepreneur

David

Ethereum, Bitcoin Prices Rally Despite Sluggish Market

Ethereum, Bitcoin Prices Rally Despite Sluggish Market

Ethereum, Bitcoin Prices Rally Despite Sluggish Market

Bitcoin and ethereum continued to rally on Wednesday, pushing the total value of all cryptocurrencies higher even as the wider markets were mostly red. The bitcoin price punched through $4,500 to set a new all-time high, while the ethereum price looks poised to make a record-setting run of its own.

The total cryptocurrency market cap climbed as high as $167 billion Wednesday morning, continuing its August bull run. At present, however, the crypto market cap has tapered to $162.6 billion.


Chart from CoinMarketCap

Bitcoin Price Targets $5,000

The bitcoin price spent the latter half of August stuck between $4,000 and $4,400. As the month waned, it did not appear bitcoin was going to be able to break past this level. However, the bitcoin price defied many investor expectations by spiking from $4,400 to $4,600 at about 12:30 UTC on August 29, posting a new CoinMarketCap average record of $4,627. On some individual exchanges, the price rose even further. The bitcoin price has not yet found solid support for $4,600, which has caused it to pull back to $4,501 this morning. Nevertheless, this represents a daily gain of 3% and gives bitcoin a $74.4 billion market cap.

Bitcoin Price Chart from CoinMarketCap

Now that bitcoin has broken through the $4,500 wall, many analysts predict it will cross the $5,000 threshold in short order. RT host Max Keiser, for instance, stated that he believes it will probably reach that level this week.

Ethereum Price Inches Closer to All-Time High

All eyes were on bitcoin as it set a new all-time high, but ethereum made impressive progress on Wednesday as well. Bolstered by increases in ETH/KRW and ETH/CNY, the ethereum price climbed to $389 on August 30, its highest level since June 14. At present, the ethereum price is $367, resulting in a market cap of $36.6 billion.

Ethereum Price Chart from CoinMarketCap

 

Altcoin Markets Take a Hit

Bitcoin and ethereum may have been posted solid gains on Wednesday, but traders dealt the altcoin markets a blow.

The bitcoin cash price fell to 2% to $573, continuing its week-long decline. The Ripple price managed to climb 1%, thanks to news that the FinTech startup had given a presentation on blockchain trends to officials from the central bank of China. The litecoin price was mostly stable, holding at about $62, while Dash and NEM each made minor advances.

Altcoin Price Chart from CoinMarketCap

This is where the chart starts to turn red. IOTA dipped 2% to $0.828, while the Monero price fell 6% to $128, despite strong volume from Bithumb’s newly-opened XMR/KRW market.

Monero Price Chart from CoinMarketCap

The hardest hit cryptocurrency in the top 10, however, was NEO. The “Chinese Ethereum” plunged by 17% to about $31. This reduced its market cap to $1.5 billion and gives it just a $41 million edge on 11th-ranked ethereum classic.

7-Day NEO Price Chart from CoinMarketCap

Outside of the top 10, the majority of cryptocurrencies engaged in a retreat. That retreat included Qtum and Hshare, which had just entered the $1 billion club on August 29. Unfortunately, these tokens had their membership cards revoked on Wednesday as they experienced declines of 19% and 27%, respectively.

 

Author: Josiah Wilmoth on 30/08/2017

 

Posted By David Ogden Entrepreneur

David

Monero Price Up 15% as World’s Largest Cryptocurrency Exchange Prepares Integration

Monero Price Up 15% as World's Largest Cryptocurrency Exchange Prepares Integration

Monero Price Up 15% as World’s Largest Cryptocurrency Exchange Prepares Integration

 

Monero, the world’s second largest anonymous cryptocurrency, is up 22 percent again today, on August 26.

Monero Price Up 15% as World's Largest Cryptocurrency Exchange Prepares Integration

For many years, Monero has been regarded as one of the few cryptocurrencies that is highly legitimate, backed by an experienced and talented development team. It had no pre-sales or controversial mining deals for its miners. The Monero development and community have shown unity since it forked off from Bytecoin, with almost all of its hard forks executed without any contention amongst developers, community members, industry and miners.

Yet, it has struggled to see an increase in its value. It was pushed out of its top 10 largest cryptocurrency spot and was overtaken by Dash, another anonymous cryptocurrency. A large factor of Monero’s struggle in obtaining an active consumer base and trading market has been the lack of support from large-scale trading platforms and wallets.

Dash for instance, despite its controversial pre-sale and negative reputation, was remained as the world’s seventh largest cryptocurrency for many months due to the support from Jaxx and leading exchanges.

This week, Bithumb, South Korea’s leading bitcoin exchange and the world’s largest cryptocurrency exchange, is about to provide the push Monero has long needed. Bithumb is set to list Monero in its cryptocurrency trading platform tomorrow, on August 27. Because it handles around $700 million worth of trades on a daily basis, the integration of Monero by Bithumb is expected to be an immediate and drastic increase in liquidity for Monero traders, users and investors.

Starting August 23, when Bithumb began to accept deposits from Monero traders, the price of Monero surged, even before the exchange fully listed the cryptocurrency. Tomorrow, as Bithumb completes its last phase of integration and opens Monero trading, the price of Monero will likely surge once again.

Monero was able to rise by 22 percent earlier today due to upward momentum supported by Bithumb and optimistic traders in Asia. So far, every cryptocurrency released or introduced by Bithumb to the South Korean cryptocurrency exchange market has seen a drastic increase in value and trading volume. Ethereum, Ethereum Classic, Ripple and Litecoin have all seen rapid increase in value after being listed by Bithumb and Korbit, two largest exchanges in South Korea.

More importantly, the South Korean exchange market and its traders are highly attracted to cryptocurrencies that have special attributes. For instnace, South Korean traders are keen on Ethereum due to its smart contract-based protocol and flexible ecosystem. The anonymity of Monero will likely attract many investors on the Bithumb platform and if it is well accepted by the South Korean market, Monero could make its way back to the top five cryptocurrencies. Already, it has surpassed Zcash and many other cryptocurrencies to become the tenth largest cryptocurrency in the market.

 

Author Joseph Young 12:36 am August 26, 2017

 

Posted by David Ogden Entrepereneur

David Ogden Cryptocurrency Entreprenuer

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Standpoint Founder – Bitcoin Asset Class Will Grow Into $2 Trillion Market

Standpoint Founder - Bitcoin Asset Class Will Grow Into $2 Trillion Market

Standpoint Founder – Bitcoin Asset Class Will Grow Into $2 Trillion Market

 

Forget $5,000.

At a time when many are making short-term bets on the price of bitcoin and other cryptocurrencies, one bitcoin bull is going a step further. Ronnie Moas, founder of Standpoint Research, is making the case cryptocurrencies will not only be a decade-long trend, but a viable asset class.

In fact, he's going so far as to call for a massive rise in the market cap of cryptocurrencies. His prediction? The total value of all cryptographic assets, today valued at $150 billion, will soar to $2 trillion over the next 10 years.

And in a new interview, Moas walked CoinDesk through his forecast, explaining how it stems from his fundamental analysis of the capital markets and the broader macroeconomic trends he now sees in place.

The Standpoint founder's view stands in stark contrast to the highly bearish analysis of Peter Schiff, who called cryptocurrency a bubble, a speculative frenzy and a natural Ponzi scheme driven by "just plain greed" last week.

In the broadest sense, Moas sees the current state of the cryptocurrency market as a direct parallel to Silicon Valley during the 1990s, when a massive surge of innovation created new technologies that transformed the way we work and live and ushered in a period of massive wealth creation.

He explained:

"I am not any more concerned with bitcoin being at a record high than Amazon or Google investors were concerned when those share prices jumped hundreds of percent and hit $100 and $200 many years ago. Today, both of those stocks are above $900. The question is not where we are at – it is where are we going? I do not think we are in a bubble."

 

Roadmap to $2 trillion

How does Moas get to the $2 trillion market cap for cryptocurrency in his forecast?

He begins by looking at the $200 trillion that is currently invested in global capital markets today, including all major asset classes: cash, stocks, bonds and gold. Moas, who also does traditional equity analysis, begins his market breakdown with stocks, which he believes are currently overvalued.

According to Moas, three-quarters of the names in the S&P 500 are trading at least 18 times earnings, which is higher than his value threshold of 12 times earnings. He also adds that we haven't had a stock market correction in 20 months.

On the currency front, the U.S. dollar is currently losing 1 to 2 percent per year due to inflation. Moas also points out that the dollar has lost half its value since he was in high school 35 years ago.

 

From a global perspective, where most people don't have access to U.S. dollars, Moas believes the case for cryptocurrency is even more compelling:

"Now, imagine what they think of their own local currencies elsewhere in the world. Imagine you live in Venezuela and you're keeping your money under the mattress. Would you rather leave it there in Venezuelan bolivar or would you rather put it in bitcoin? It's not going to take you very long to make that decision."

Breaking his thesis down further, Moas believes that a conservative estimate is that at least 1 percent of the $200 trillion now tied up in stocks, cash, gold and bonds will migrate into cryptocurrencies over the next decade.

In that case, he says, "Bitcoin could end up with a market capitalization that is more than Amazon and Apple combined."

Under this scenario, that would mean that the current market capitalization of all cryptocurrencies would naturally grow.

And if Moas's market capitalization targets are correct, investors would then receive a 1,250 percent return on their cryptocurrency investments made today.

 

Diversified strategy

But he adds one major caveat to that prediction. Simply, "You've got to be in the right names."

Assuming you accept Moas's basic bull market thesis for cryptocurrencies, how do you know if you are invested in the right "names" in the cryptocurrency space? And, if the market boom in cryptocurrency is analogous to the roaring years of the 1990s tech boom, how can you avoid investing in the next Pets.com?

As Moas frames it:

"A lot of people say there is a bubble out there. I see a bubble when you get down below the top 50 cryptocurrencies. There are more than 800 names right now. In my view, what happens outside the top 50 is irrelevant."

Moas goes on to point out that 91 percent of the nearly $150 billion market cap is invested in the top 20 names and 70 percent is invested in bitcoin and ether alone.

He recommends, for the purposes of portfolio diversification, retail investors should hedge their bets and invest across the top 10 or 20 cryptocurrencies.

In Moas's view, the 800 cryptocurrencies that are now trading are analogous to the 800 stocks that were available on the Nasdaq at the height of the dot-com bubble nearly 20 years ago. While Amazon and Apple and Microsoft emerged to become among the most valuable companies of all time, there were many companies from that time period that died slow and painful deaths.

Or, as Moas more colorfully puts it: "Back then, there were hundreds of pump-and-dump, small-cap junk names just as there are in crypto today. Today, the crypto market is giving you the same signals with names like dash, ripple, litecoin, monero, bitcoin, ethereum, neo, nem, iota and others."

He went on to add that while there are certainly risks involved in investing in cryptocurrency, those risks are, in his view, outweighed by the possibility of 10-to-one or 20-to-one payout to the upside experienced by tech stocks.

 

The bull case

Of all the major cryptocurrencies, though, Moas seems especially bullish in his view of bitcoin. Unless there is a major shakeup in the underlying confidence, he believes that investors are going to want to buy-and-hold for their portfolios for 10 years or more.

Moas points out that there are currently only about 16 million bitcoins that have been issued of a possible total 21 million coins that will be created.

In his analysis, this could lead to tens of millions of people trying to get their hands on just a few million coins.

When asked for a specific price target, Moas summed up as follows:

"At the beginning of July, bitcoin was trading at $2,500. I believe in the next three years you will probably see $15,000 to $20,000 for bitcoin. It could double twice from here in the next 36 months."

 

 

Aug 24, 2017 at 09:00 UTC by Ash Bennington

 

Posted By David Ogden Entrepreneur

DAvid Ogden Cryptocurrency Entrepreneur

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$154 Billion – Bitcoin Price Rally Carries Crypo Markets to New Record

$154 Billion - Bitcoin Price Rally Carries Crypo Markets to New Record

$154 Billion – Bitcoin Price Rally Carries Crypo Markets to New Record

The bitcoin price rallied on Wednesday, leaping 9% to cross $4,200. The wider crypto markets followed bitcoin’s lead, with 93 of the top 100 cryptocurrencies marching into positive territory for the day.

This near-universal advance added more than $10 billion to the total cryptocurrency market cap. After entering the day at $142.5 billion, the total value of all cryptocurrencies burst through the $150 billion threshold to set a new all-time high of $154 billion.

Popular Cryptocurrency Chart

Bitcoin Price Leaps Past $4,200

The bitcoin price had experienced an early-week correction, briefly diving as low as $3,675 on August 22. Theories for this decline include a hashrate shift from bitcoin to bitcoin cash, as well as concerns surrounding the Segwit/Segwit2x debate. However, the bitcoin price had strong support on the Asian exchanges, which helped prevent it from staying below $4,000 for long. Today’s 9% climb brings the bitcoin price to a present value of $4,243 and a market cap of just over $70.1 billion.

 

Ethereum Price Closes on $350

The ethereum price did not quite keep pace with bitcoin, but it did return a 4% increase for the day. At present, the value of ether is $323, bringing the ethereum market cap to $30.4 billion.

Metropolis, ethereum’s next major protocol upgrade is, quickly approaching. Although these protocol upgrades are implemented by hard forks, they have generally been supported by the community. Consequently, many investors believe the ethereum price will close on $350 as its September release nears.

 

Bitcoin Cash Price Stumbles Following Difficulty Adjustment

The bitcoin cash price surged close to $1,000 last week, one of several converging factors that made bitcoin cash more profitable to mine than bitcoin. Suddenly, the bitcoin cash hashrate exploded, nearly reaching parity with bitcoin. At its height, bitcoin cash boasted 44% of the combined hashrate between the two coins.

However, the hashrate increase triggered an August 22 difficulty adjustment that caused bitcoin cash mining profitability to plunge. Bitcoin cash is now just 42% as profitable to mine as bitcoin, which has led several miners to move hashpower back to the main blockchain. At present, bitcoin cash has about 27% of the combined bitcoin hashrate.

The difficulty adjustment coincided with a decrease in the bitcoin cash price. Despite the widespread market advance, the bitcoin cash price retreated 7% to $661. Bitcoin cash now has a $10.9 billion market cap.
 

Ripple Price Soars to 50% Gain

Bitcoin cash was the only top 25 cryptocurrency to decrease more than 1% for the day, and most coins returned significant gains.

popular chryptocurrency charts

Altcoin Price Chart from CoinMarketCap

The Ripple price led the way, posting a shocking 50% increase following a flood of volume on the major Korean exchanges. This rapid advance raised the Ripple price as high as $0.300 for the first time since June 25, although it has since tapered to $0.277. Ripple now has a market cap of $10.6 billion, putting it within striking distance of reclaiming the 3rd spot from bitcoin cash

Fifth-ranked IOTA rose 9% to $0.92, while the litecoin price increased 4% to $48. The NEM price saw just a 2% gain, but it was enough to raise its market cap to $2.3 billion. The Dash price rose 7% to $300, and NEO climbed 9% to about $38. Other than Ripple, ethereum classic was the only top 10 cryptocurrency to rise more than 10%. ETC’s 14% gain helped it secure the 10th place spot from Monero, who rose 8% to a new all-time high of $98.

 

Author: Josiah Wilmoth on 23/08/2017

 

Posted By David Ogden Entrepreneur

David Ogden Entrepreneur

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