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

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

Why Silicon Valley is going gaga for Bitcoin

Why Silicon Valley is going gaga for Bitcoin

Why Silicon Valley is going gaga for Bitcoin

Cryptocurrencies are on a historic tear right now. And Silicon Valley’s infatuation with the industry explains a lot about itself.

Should I buy bitcoin? As a technology reporter, the questions I receive from random people at birthday parties, say, or seatmates on a plane, are usually emblematic of what is going on in the digital world. (And, increasingly, the real one, too, for that matter.) Not too long ago, the predominant question was Should I buy the new iPhone? Then it became Do I need to be on Twitter? or Do I need to be on Facebook? or Do I need to be on Snapchat? (That question has since come full circle to Should I quit Twitter and Facebook?) These days, the question I hear the most—well, besides whether Twitter should ban Trump—is Should I buy bitcoin?

I usually respond with the story of Laszlo Hanyecz. If you’ve come within 500 feet of bitcoin, or any other cryptocurrency, over the past few years, the name alone will make you cringe. Back in 2010, when the currency was in its infancy, Hanyecz went “mining” for bitcoins for a few months and collected 10,000 of them; he subsequently traded them, in what would be the first cryptocurrency transaction in history, to a guy who bought him two Papa John’s pizzas with a couple sides of that tasty, buttery garlic sauce. Back then, Hanyecz’s bitcoins had no value, and the $30 value of two pies and an accoutrement made his individual bitcoin units worth 0.003 cents apiece. Today, at their current market valuation, bitcoin units are worth around $5,800 each, which means Hanyecz’s 10,000 bitcoins would be worth around $58 million. “It wasn’t like bitcoins had any value back then, so the idea of trading them for a pizza was incredibly cool,” Hanyecz told me in 2013, when bitcoin was already valued at $1,242 each. “No one knew it was going to get so big.”

For a lot of people on the periphery of this technology, the extraordinary rise in bitcoin’s value has become cause for alarm. The Web is littered with news articles, blog posts, and white papers warning that bitcoin and its sibling currencies are worth nothing, and the rise and fall of the currencies’ worth, which can fluctuate by billions of dollars a minute, certainly backs that up. But while Jamie Dimon and other bankers might scoff at these digital currencies, Silicon Valley is extremely bullish. There’s a reason, too: if Dimon had invested in bitcoin when he first called it a joke, in 2015, he would have received a tenfold return on his investment.

There are a number of reasons why bitcoin and cryptocurrencies are doing so well right now. One of the more plausible scenarios was outlined this week in a very clever post written by Adam Ludwin, an investor and co-founder of Chain.com, a bitcoin developer platform, which argues that bitcoin is an entirely new asset class, similar to equities and bonds, and that “bitcoin is capitalism, distilled.” The “capitalism” part of the sentence helps explain why some in Silicon Valley are so specifically exuberant about it right now. “In the short-run, there will be extreme volatility as FOMO competes with FUD, confusion competes with understanding, and greed competes with fear (on both the buyer side and the issuer side),” Ludwin wrote. “Most people buying into crypto assets have checked their judgement at the door.”

This gets someone like me a bit nervous about what cryptocurrencies could end up doing to society in the long run. Silicon Valley culture is largely fueled by people who love to decimate industries that don’t work, often without any thought of how the disruption could lead to other negative results happening in society (see the recent social-media debacle around the election ). In typical Valley fantasy, people are seeing only the positive potential with bitcoin, not the potentially ugly outcomes when humans molest it for their own interests.

One of the many factors currently fueling the ascent of bitcoin is the rise of initial coin offerings, or I.C.O.s, where some lucky investors are reaping astounding returns. You can think of these like a traditional initial public offering, or I.P.O., but without the layers upon layers of regulation and government bureaucracy that come with a company going public. With an I.C.O., a start-up raises money for a new venture by selling “coins” that are very similar to shares of a public company. The coins then rise and fall as the company’s value oscillates. In 2014, when the founding of a new cryptocurrency called Ethereum was announced, it raised $18 million by selling a new digital coin called “Ether” for 40 cents per coin. Today, Ethereum has a market cap of around $30 billion. So if you had spent $100 on Ether during the I.C.O., you would have made $74,900 in profit. As Nathaniel Popper detailed in The New York Times earlier this summer, I.C.O.s have been generating billions of dollars in returns for some—and a lot of scams, too.

The lack of regulation in the cryptocurrency world, after all, means that there is a lot of fraud, extreme volatility, and coin values can jump up or down in mere seconds. Someone I recently spoke with who works with, and monitors, the crypto I.C.O. markets pointed out that some of these I.C.O.s feel awfully similar to the Dot Com public offerings of the late 90s, where the public was buying into nothing and ended up with exactly that when the entire market came crashing down and trillions of dollars were wiped off the stock market. In China, I.C.O.s became so troubling that they were banned earlier this year. In September, the People’s Bank of China issued a blunt statement saying that this practice was “illegal and disruptive to economic and financial stability.” I.C.O.s in China were occurring at an astounding rate, with one report claiming that more than $750 million was raised in I.C.O.s in July and August alone. A lot of people think the ban by China is temporary, slowing the dizzying speed of these offerings.

As a result of all the movement in the cryptocurrency market over the past couple of years, there are a lot of options out there for people who want to try their hand in crypto-investing. There’s bitcoin, the first and most well known of all the currencies, which currently oscillates in value at around $5,000 a coin. I’ve heard predictions all over the map, from bitcoins one day being worth as much as $500,000 each to units being worth absolutely nothing if a better coin comes along. (My personal prediction is that they will continue to rise for at least the next couple of years.) Ether had remained relatively flat until earlier this year when it spiked in value to over $350 apiece. (It’s since fallen to $300 each.) The current coin du jour is called Litecoin, which is getting a lot of attention because it’s still priced relatively low, at around $55 each, and is expected to rise considerably over the next year or so on account of new features that will be added to enable more privacy options. Then there are a slew of other coins to explore, including Monero, which is an open-source currency that was developed in April 2014, but which spiked this year after the illegal drug market AlphaBay was taken down. Monero, unlike other currencies, is truly anonymous, making it the perfect currency with which to buy and sell drugs, guns, and other illegal contraband on the Dark Web. If you look at the World Coin Index Web site, you can see a long list of other coins and their values over time, including Ripple, Bitcoin Cash, Qtum, NEO, Nav Coin, NEM, and a number of other coins.

For Silicon Valley, betting on one of these early can mean profiting beyond all imagination, exceeding even the famed 1,000x start-up returns from companies like Facebook and Uber. Earlier this summer, I interviewed Tyler and Cameron Winklevoss, the twins who co-founded The Facebook with Mark Zuckerberg, and they are now obsessively investing in cryptocurrencies. In a settlement with Facebook, the two brothers were awarded $60 million, but to hear them talk about it, it appears their investments in bitcoin and other currencies are going to reap a far bigger return over time. I’ve spoken with countless other people about the current state of bitcoin and cryptocurrency, and I’ve heard two truths that seems consistent. No one—and I mean no one—knows exactly which digital currency will be successful in the future. It could be bitcoin, it could be Litecoin, it could be something that hasn’t even been created yet. But, the other resounding feeling is that these currencies are here to stay in one form or another and there is nothing anyone can do to stop them. Which brings me back to that question that I’m often asked these days: “should I buy bitcoin?”

There’s an old saying in real estate that “you shouldn’t wait to buy, but rather you should buy and then wait.” That’s the way I feel about these cryptocurrencies. If you’re looking for a quick and dramatic financial boost, realize that you could probably get similar odds by buying a plane ticket to Las Vegas, walking into the first casino you see, and putting all your money on black or red. But, if you’re willing to wait it out, there’s a chance that your investment in a cryptocurrency could make for an impressive return over time. Just be prepared to go it the long haul. Or at least until the price spikes tomorrow.

Author Nick Bilton – special correspondent for Vanity Fair.

 

Posted by David Ogden Entrepreneur
David Ogden Cryptocurrency Entrepreneur

 

David

Bitcoin Price is Hitting Above $4,500 Again

Bitcoin Price is Hitting Above $4,500 Again

Bitcoin Price is Hitting Above $4,500 Again

Bitcoin price surpassed the $4,500 mark Sunday, reaching $4,614.91 Sunday, posting a market capitalization of $76.662 billion. Bitcoin posted close to a 5% gain in the last 24 hours, during which most cryptocurrencies posted losses.

Ripple and Litecoin were the only other two of the top 10 cryptocurrencies to gain in the period, posting 15.6% and 2.02% gains, respectively. BitConnect, the number 12 crypto with a market cap just over $1 billion, was the only other crypto with more than $1 billion in market capitalization to post a gain, grabbing 4.36%.

Bitcoin commanded more than half of all cryptocurrency market valuation, accounting for 50.03% of all market value. Ethereum accounted for 19.39%, the only other crypto to rank in double digits. Bitcoin had also surpassed the 50% mark earlier in the week.

Bitcoin Stabilizes Crypto Markets

In the past week, the bitcoin price provided the markets with a stabilizing force. Despite falling prey to the mid-week downtrend, the bitcoin price ended the week at $4,335, which then represented a week-over-week gain of about one-half of one percent.

Tuur Demeester, a prominent bitcoin investor, analyst, and editor in chief at Adamant Research, recently predicted the bitcoin price would surpass the $5,000 mark if support towards SegWit2x declines in the next few days. Uncertainty around SegWit2x has held back the momentum of bitcoin and its short-term rally. Several business have pulled out from the SegWit2x NYA agreement and the plan of the Digital Currency Group-led consortium of companies to carry out a hard fork in November.

Since early September, bitcoin’s price has struggled to recover beyond $4,500 due to uncertainty surrounding the Chinese cryptocurrency exchange market and SegWit2x. Analysts have started to demonstrate optimism towards the possibility of the Chinese government resuming cryptocurrency trading.
 

Hyperinflationary Period Over?

Chris Burniske, a partner at cryptocurrency-focused venture capital firm Placeholder and former cryptocurrency investment lead at ARK Investment, recently revealed that 80 percent of the total supply of bitcoin is now outstanding and that its hyperinflationary period is behind it.

Because there will only be 21 million bitcoins and no additional bitcoin can be created after the supply achieves its cap, only a limited number of investors would be able to hold one full bitcoin.

Bitcoin’s deflationary supply, however, is not an issue for investors and merchants that adopt bitcoin as a digital currency because it is divisible. Currently, many bitcoin wallets and merchants use “satoshi” as a unit, with one satoshi representing 0.00000001 bitcoin.

Investors Flock To Bitcoin

Currently, many investors and traders have invested in bitcoin as a safe haven asset and a long-term investment. But, as bitcoin evolves as a technology and a robust financial network, it will soon compete with reserve currencies, existing banking systems, and traditional assets such as gold.

For the long-term growth of bitcoin’s market cap and price, its deflationary nature will be a vital factor to sustain bitcoin’s upward momentum and demand for bitcoin from the global market.

Several analysts, including RT’s Max Keiser, Harvard academic Dennis Porto, and Saxo Bank senior analyst Kay Van-Petersen, have predicted bitcoin price surpassing $100,000 within the next 10 years.

 

Author: Lester Coleman on 09/10/2017

 

Posted by David Ogden Entrepreneur
David Ogden Cryptocurrency Entrepreneur

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

All Cryptocurrency Prices Today Have Volatile Swings

All Cryptocurrency Prices Today Have Volatile Swings

All Cryptocurrency Prices Today Have Volatile Swings
 

All Cryptocurrency prices were volatile today, and most were down as of 2:00 p.m., with the total value of the global marketplace falling from nearly $95 billion to roughly $86.8 billion over the last 24 hours.

The biggest story moving cryptocurrency prices today (Tuesday) was renewed fear over a potential August fork in Bitcoin that could split the currency. Bitcoin Cash has announced plans to proceed with a fork. BCC is generating support ahead of its planned first day of trading in August.

Two exchanges – Bithumb and Kraken – have confirmed plans to list BCC, despite offering a press release for confirmation.

Meanwhile, Japanese exchanges have resumed operations after a shutdown needed to prepare for a possible disruption in Bitcoin.
 

Below is a recap of cryptocurrency prices at 2 p.m. EDT…

Bitcoin: $2,566.24, -6.25%

Ethereum: $205.64, -8.39%

Ripple: $0.17, -9.09%

Litecoin: $42.00, -5.38%

Dash: $195.55, -6.01%

 

Now that we know all of today's price movements, here's what has been moving these cryptocurrencies…

Bitcoin Prices Today: Bitcoin Slides Below $2,600

Bitcoin prices dropped again as concerns about a potential fork reemerged on Tuesday.

A hard split for the currency is still on track for Aug. 1. Bitcoin will be split into two new coins, Bitcoin Core (BTC) and Bitcoin Cash (BCC).

 

Ethereum Prices Slide Despite Airline Boost

Ethereum prices followed Bitcoin lower Tuesday on heavier than usual volume. Prices fell from highs of about $225 after several days of lackluster activity. Still, there has been plenty of bullish news in the industry. PJSC Siberia Airlines announced it has used the Ethereum blockchain to sell tickets. The company has also said it will consider the acceptance of Ethereum and other cryptocurrencies in the future.

 

Ripple Prices Follow Bitcoin Lower

Ripple prices dipped on the day, with the market capitalization falling beneath $6.7 billion. Ripple prices were down 9% on the day.
 

Litecoin Prices Drop on Cryptocurrency Sell-Off

Litecoin prices also slumped but have been a bit more muted due to news that the currency is becoming more mainstream in its trading.

 

Dash Prices Slide Despite Apple Store Optimism

Dash prices fell more than 6% due to a broader sell-off in the cryptocurrency sector. Dash still remained the fifth-largest cryptocurrency by market capitalization at $1.456 billion due to larger downturns in Ethereum Classic and NEM.

Dash prices had been rallying in recent days after Apple announced it had reviewed an appeal to allow the cryptocurrency to be used in the Apple Store.

 

David Ogden
Entrepreneur

Cryptocurrency Entrepreneur
 

Author: GARRETT BALDWIN,

David

Ethereum’s share of the cryptocurrency market has exploded

Ethereum's share of the cryptocurrency market has exploded

Ethereum's share of the cryptocurrency market has exploded
 

Ethereum is gobbling up share in the cryptocurrency market.

A new report by Autonomous NEXT, a financial technology analytics service, shows that Ethereum's percentage of the total cryptocurrency market has sharply risen since the beginning of the year.

In January it stood at approximately 5%. As of June 22, its marketcap as a percentage of the entire market rose to 30%.

Ethereum's impressive rise has led to a dramatic fall in bitcoin's marketcap as a percentage of the market. It has declined from about 85% at the beginning of the year to just under 40% as of late June. Up until mid June, Ethereum was on track to surpass bitcoin as the world's largest cryptocurrency by market cap, according to Coindesk, but its share of the market has since pulled back.

Still, the shift from bitcoin to Ethereum reflects a change in what the cryptocurrency industry wants from blockchain tech, according to the report.

"Early phase of cryptocurrency market development focused on who will be the “digital gold” – and Bitcoin won through the largest developer and adoption ecosystem," the report said. "However, current battle is for other functionalities, such as global decentralized computing or smart contracts infrastructure."

Ethereum, unlike bitcoin, wasn't built to simply function as a "digital gold." According to Paul McNeal, a bitcoin evangelist, the Ethereum blockchain was built as a platform on which two parties could enter into a so-called smart contract without a third party. As a result, it can be used as a currency and it can "represent virtual shares, assets, proof of membership, and more."

The multifaceted functionality of Ethereum has many folks in financial services bullish on its future. Mike McGovern, the new head of Investor Services Fintech Offerings at Brown Brothers Harriman & Co, is one such person.
 

"Ethereum is not only cheaper than bitcoin, it is also more robust and has more applications outside of simply financial transactions," he said in a recent interview with Business Insider.

A survey recently cited by Nathaniel Popper in The New York Times indicates that a lot of businesses are singing a similar tune. Almost 94% of surveyed firms said they feel positive about the state of ether tokens. Only 49% of firms surveyed had a positive feeling about bitcoin.

 

David Ogden
Entrepreneur

 

Author: Frank Chaparro

David

How Balanced Cryptocurrency Portfolio Looks Like: Investment Tips

http://seriouswealth.net/wp/wp-content/uploads/2017/07/How-Balanced-Cryptocurrency-Portfolio-Looks-Like-Investment-Tips

How Balanced Cryptocurrency Portfolio Looks Like: Investment Tips

A large number of investors have started to purchase cryptocurrencies as a short-term and long-term investment, a safe haven asset and an experimental investment to develop a proper understanding of the market and the technology behind cryptocurrencies such as Bitcoin.

As a result, even the initial coin offering (ICO) market, which is yet to showcase a viable product or a decentralized applications with an actual active user base, have begun to attract hundreds of millions of dollars in the past few months.

In fact, Tezos, Bancor and EOS, the three largest ICOs to date, have raised more than $485 mln, with the ICOs of EOS and Tezos still ongoing. However, none of these three ICOs have completed the testing phase of their software, leading many analysts to describe the ICO market as a bubble.

Still, the vast majority of investors in the cryptocurrency market are purchasing cryptocurrencies such as Bitcoin, Ethereum, Litecoin and Ethereum Classic as long-term investments.

A large portion of investors within the cryptocurrency market wholly support the monetary policy, vision and purpose of popular cryptocurrencies that have evolved into useful alternative financial networks and decentralized infrastructures for decentralized applications.

 

What is a balanced cryptocurrency portfolio?

As mentioned above, the purpose of investing in cryptocurrencies varies greatly for investors. Most Bitcoin investors consider Bitcoin as a safe haven asset and a digital currency and have purchased Bitcoin expecting it to become a major alternative financial network which could compete with global banking systems and reserve currencies such as the US dollar in the far future.

If an investor remains unclear about the structure, purpose and monetary policies of certain cryptocurrencies and is investing in specific cryptocurrencies as an experimental investment to learn more about the market and various cryptocurrencies, it will be smart decision to maintain a diversified portfolio of a few different cryptocurrencies.

http://seriouswealth.net/wp/wp-content/uploads/2017/07/cryptocurrency-portfolio

 

Investment tip from Andreas Antonopoulos

On June 13, Bitcoin and security expert Andreas Antonopoulos revealed his personal investment strategy in establishing a balanced portfolio of crypto assets. Antonopoulos wrote:

“Yes, I own a few different crypto assets as part of a small but diversified portfolio. I only risk as much as I'm willing to lose.”

The latter part of Antonopoulos’ statement is what most investors in the cryptocurrency market fails to consider. The entire cryptocurrency market is still at an early stage, and most cryptocurrencies remain extremely volatile. Hence, investors should not be investing more than they are willing to lose, especially if their investment is experimental and speculative.
 

Also, it will be beneficial and efficient for investors to utilize platforms such as Cyber Fund’s cryptocurrency portfolio builder Satoshi Pie, which allow investors to track their investments in real time in terms of change in value and performance against other assets.

David Ogden
Entrepreneur

Author: Joseph Young

David

Market Turns Green

Market turns green

Market Turns Green

The cryptocurrency market takes a turn to the green, led by Ethereum and Bitcoin.

After two days of the so-called ‘crypto correction’ in the final days of June, the wider cryptocurrency market is seemingly back on a comeback trial as all top ten cryptocurrencies by market cap make gains over a 24-hour period.

According to CoinMarketCap, all but two of the top 50 cryptocurrencies have taken a positive turn during Tuesday’s trading period. At press time, only Bytecoin, the original anonymous crypto which made a 250% jump in May and Ardor, a blockchain-as-a-service platform, see their respective tokens fail to make gains at the top half of the table.

 

Ethereum leads the way among the big dogs, with a near 8% gain as Ether prices return to hitting above $275. Bitcoin, up over 2%, is trading just above $2,475. Ripple, Litecoin and Ethereum Classic are following the trend. Dash, at #7 on the crypto-ranks, is up nearly 13% at over $170 per DASH.

 

Today’s upward gains will come as respite during a dramatic few days for the cryptocurrency market. Rewund back to mid-June, the entire cryptocurrency market cap had struck $117 billion. At its lowest point on Tuesday, the combined market cap of all cryptocurrencies in circulation had fallen to $88 billion – a wipeout of $29 billion in two weeks. Monday, in particular, saw 92 of the top 100 cryptos hit red, with the IOTA’s IOT token and Ethereum taking the biggest falls.
 

Tuesday didn’t start off on sound footing either, as Ethereum fell nearly 20% to a low of $227.14 today, a near 4-week low. A mainstream rumor that Ethereum founder Vitalik Buterin died in a car crash didn’t help matters.

 

Ultimately, the downturn that began on Sunday evening could have ultimately proven to be the pause the market needed following significant gains in recent months. A breather helps. It never was, nor will ever be a sprint. It’s summer time, after all. Everyday investors, having helped boost entire cryptocurrency market leap from $28 billion in mid-April to a dizzying $117 billion in mid-June, could be closing their positions for profits during summertime.

 

“All that really happened today was some newcomers and bull traders got discount coins,” wrote CCN’s P.H. Madore amid Monday’s gloom. For others, these last few days have merely been an exercise of holding on.

David Ogden
Entrepreneur

 

Author: Samburaj Das

 

 

David