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Nvidia: Gamers First for Graphics Cards

The surge in popularity of Bitcoin and cryptocurrency in recent month has made mining far more lucrative. The demand for high end hardware and graphics cards has caused manufacturers such as Nvidia to change their stance on who should be buying their products. Gamers, like miners, need decent graphics cards and they are becoming scarce. … Continue reading Nvidia: Gamers First for Graphics Cards

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The surge in popularity of Bitcoin and cryptocurrency in recent month has made mining far more lucrative. The demand for high end hardware and graphics cards has caused manufacturers such as Nvidia to change their stance on who should be buying their products.

Gamers, like miners, need decent graphics cards and they are becoming scarce. Supply and demand dictates market prices and graphics cards are going up. Tech news outlet Motherboard reported that the shortage in graphics cards is directly linked to the soaring prices of cryptocurrencies.

Gamers First

Graphics giant Nvidia is aware of this and recently recommended that retailers prioritize gamers over miners. In an interview with German hardware website ComputerBase last week Nvidia spokesman Boris Böhles said;

“All of our activities around our GeForce-products are directed towards our main target group. To ensure GeForce-Gamers continuously have access to GeForce-graphic cards even in the current situation, we recommend our trading partners to take according measures to ensure they can provide the needs of gamers per usual.”

Retailers have been limiting purchases of GPUs to one or two per customer. Many high end gaming PCs have two GPU slots for cards to run in tandem which yields greater performance. So it is not uncommon for gaming enthusiasts to purchase more than one graphics card at a time.

Mining Madness

Mining rigs on the other hand run multiple cards in parallel configurations to harness the computing power to crunch those transaction numbers and add to the blockchain. According to analysts Ethereum is the driving force for mining at the moment;

“We single out ethereum as the overwhelming driving force for GPU demand given its larger size (market cap) and higher mind share relative to other coins,” 

CNBC reported that computer hardware retailers including Newegg, Best Buy and Amazon are sold out of most AMD RX 570/RX 580 and Nvidia GTX 1070/1080 graphics cards. Third party sellers have been inflating prices to profit on the huge demand for them much to the chagrin of gamers who are looking to upgrade their machines.

Nvidia obviously need to support their core customer base but are struggling to keep up with demand from miners. If production is ramped up but the crypto market collapses the company could be left stranded with a lot of excess stock which ages quickly in this high tech market.

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Bitcoin is not an investment we would advise, UBS chairman says – CNBC


CNBC

Bitcoin is not an investment we would advise, UBS chairman says
CNBC
UBS believes that bitcoin is a speculative investment and is not advising its clients to invest in the digital currency, the bank’s chairman told CNBC Tuesday. Speaking at the World Economic Forum in Davos, UBS Chairman Axel Weber said the bank makes a


CNBC

Bitcoin is not an investment we would advise, UBS chairman says
CNBC
UBS believes that bitcoin is a speculative investment and is not advising its clients to invest in the digital currency, the bank's chairman told CNBC Tuesday. Speaking at the World Economic Forum in Davos, UBS Chairman Axel Weber said the bank makes a ...

Ripple Price Technical Analysis – Can XRP/USD Break This Resistance?

Key Highlights Ripple price traded lower recently towards the $1.3500 support area against the US dollar. Yesterday’s highlighted key bearish trend line with current resistance at $1.4800 is intact on the hourly chart of the XRP/USD pair (data source from Kraken). The pair may move further higher, but it won’t be easy for buyers to … Continue reading Ripple Price Technical Analysis – Can XRP/USD Break This Resistance?

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Key Highlights

  • Ripple price traded lower recently towards the $1.3500 support area against the US dollar.
  • Yesterday’s highlighted key bearish trend line with current resistance at $1.4800 is intact on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The pair may move further higher, but it won’t be easy for buyers to break $1.50 and the 100 hourly simple moving average.

Ripple price is correcting higher against the US Dollar and Bitcoin. XRP/USD is facing a major resistance on the upside around $1.48-1.50 and the 100 hourly SMA.

Ripple Price Remains Bearish

There was a break below the $1.45 support level in Ripple price recently against the US Dollar. The price traded lower and broke the $1.20 support. It also traded below the 50% Fib retracement level of the last leg from the $0.8830 low to $1.7445 high. It traded close to the $1.1500 level and formed a low at $1.1361. Later, it started an upside correction and recovered above the $1.20 level.

There was a push above the 23.6% Fib retracement level of the last decline from the $1.65 high to $1.13 low. However, there are many resistances on the upside near $1.45-1.48. Most importantly, yesterday’s highlighted key bearish trend line with current resistance at $1.4800 is intact on the hourly chart of the XRP/USD pair. The trend line resistance at $1.48 is close to the 100 hourly simple moving average. Moreover, the 61.8% Fib retracement level of the last decline from the $1.65 high to $1.13 low is around the same trend line.

Ripple Price Technical Analysis XRP USD

On the downside, the $1.20 level is a short-term support. If the price fails to move above the $1.48 resistance, it could break the $1.20 support for more losses.

Looking at the technical indicators:

Hourly MACD – The MACD for XRP/USD is slightly placed in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD has managed to move above the 50 level.

Major Support Level – $1.2000

Major Resistance Level – $1.4800

 

Charts courtesy – Trading View, Kraken

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EOS SHORT TERM TREND DEPENDS ON BEAR REACTION AT $12

Besides Lumens-where buyers may found support at $0.43, most alt coins are on a slide. EOS is our focus today and while at it, the significance of $12 should be brought to your attention. If you check the weekly chart, there was an over-valuation after last week’s close and this week might be full of … Continue reading EOS SHORT TERM TREND DEPENDS ON BEAR REACTION AT $12

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Besides Lumens-where buyers may found support at $0.43, most alt coins are on a slide. EOS is our focus today and while at it, the significance of $12 should be brought to your attention.

If you check the weekly chart, there was an over-valuation after last week’s close and this week might be full of correction especially if bears drive prices below the middle BB in the 4HR chart.

In comparison, LTC, NEM and NEO are bearish and we should be actively looking for sell set ups in lower time frames.

Let’s dissect these charts:

NEM SELLERS BREAK BELOW MINOR SUPPORT TREND LINE

NEM Sellers
XEMUSD 4HR Chart for January 23, 2018

The bearish engulfing candlestick on January 2016 was met with a double bar reversal pattern on January 17. What we saw next was series of higher highs back to the main resistance line at $1.14.

In the daily chart, January 16 candlestick broke below support signaling bear pressure and the same bearish set up is visible in the weekly chart.

This confluence of sell signals in all time frames is the reason why we should be looking to short now that we have that minor break out below the support trend line on our entry chart.

Look at that blast!! The more NEM sellers unload their position, the higher the chances of lower BB banding and the faster our bear targets at $0.50 would be hit.

XLM INVERTED HEAD-AND-SHOULDER FORMATION

Lumens Sell pressure
XLMUSD 4HR Chart for January 23, 2018

The significance of $0.43 in the 4HR is clear.

From first glance, can the current price action trending as the last leg of an inverted head and shoulders formation?

The head bottoms and support is at $0.30 and that is where bulls entered the trade pushing prices higher while the neck line is at $0.43 from where XLM buyers are finding support.

If indeed it is, then prices could appreciate and the minor resistance trend line shall be a perfect selling zone.

Pasting a Fibonacci tool between last week’s high low put potential reversal zones at around $0.55 and $0.63.

IMMEDIATE NEO BEAR TARGETS AT LAST WEEK’S LOWS

NEO Sellers
NEOUSD 4HR Chart for January 23, 2018

On January 22, NEO depreciation was spectacular and went against our forecast. Our potential sell zone was at around $155 and $180 but look at these sweet lower lows in line with last week’s bear trend.

It’s disruptive but now, here’s our plan. When we paste a Fibonacci retracement tool between last week’s high lows, our intermediate resistance is above January 20 highs at $155 and that is where the 38.2% Fibonacci resistance level lies.

However, because of the lower BB candlestick hugging and strong bear momentum, we should look at initiating sell positions with first bear targets at $94.

LTC CANDLESTICK BANDING ALONG THE LOWER BB

LTC Sellers
LTCUSD 4HR Chart for January 23, 2018

Sellers are in charge and besides the change in LTC price, bear candlestick are now hugging the lower BB meaning sell momentum is strong.

Otherwise, our forecast remains constant.

EOS SHORT TERM TREND DEPENDS ON PRICE ACTION REACTS AT $12

EOS short term trend and support at $12
EOSUSD 4HR Chart for January 23, 2018

This is the first time in 3 days when EOS sellers are testing the middle BB. Check out the shift of momentum and retest of the middle BB within the last 24 hours.

In my view, $12 will be an important support zone and should prices close below it today, then don’t hesitate to short and ride bears as they aim at $7.

All charts courtesy of Trading View

 

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How To Save on Bitcoin’s Soaring Fees

Transaction fees are the talk of the bitcoin ecosystem, with many users upset by the rising cost to send funds, but there are simple ways to cut fees.

Transaction fees are the talk of the bitcoin ecosystem, with many users upset by the rising cost to send funds, but there are simple ways to cut fees.

How To Save on Bitcoin’s Soaring Fees – Coindesk


Coindesk

How To Save on Bitcoin’s Soaring Fees
Coindesk
Rising fees seem to be the only thing people talk about in the bitcoin world these days. The crypto space is full of frustration and vitriol on the topic, as the average transaction fee has soared to $19, turning bitcoin’s old claim to fame as a


Coindesk

How To Save on Bitcoin's Soaring Fees
Coindesk
Rising fees seem to be the only thing people talk about in the bitcoin world these days. The crypto space is full of frustration and vitriol on the topic, as the average transaction fee has soared to $19, turning bitcoin's old claim to fame as a ...

Ethereum Price Technical Analysis – ETH/USD Bearish Below $1030

Key Highlights ETH price declined recently and traded toward the $900 level against the US Dollar. There is a key bearish trend line forming with resistance at $1030 on the hourly chart of ETH/USD (data feed via SimpleFX). The pair has to move above the $1030 resistance and the 100 hourly simple moving average to … Continue reading Ethereum Price Technical Analysis – ETH/USD Bearish Below $1030

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Key Highlights

  • ETH price declined recently and traded toward the $900 level against the US Dollar.
  • There is a key bearish trend line forming with resistance at $1030 on the hourly chart of ETH/USD (data feed via SimpleFX).
  • The pair has to move above the $1030 resistance and the 100 hourly simple moving average to gain bullish traction.

Ethereum price declined a few points against the US Dollar and Bitcoin. ETH/USD is currently correcting higher, but it is facing sellers near the $1030 level.

Ethereum Price Upside Hurdle

There were further declines in ETH price from the $1080 swing high against the US Dollar. The price declined and broke the $1000 and $950 support levels. It even pierced the 50% Fib retracement level of the last leg from the $750 low to $1150 high. It opened the doors for more losses below $950 and the price traded towards $900. A low was formed at $904 before the price started an upside correction.

It has moved above the 23.6% Fib retracement level of the last decline from the $1070 high to $904 low. However, there are many resistances on the upside starting with $985. There is also a key bearish trend line forming with resistance at $1030 on the hourly chart of ETH/USD. At the moment, the 50% Fib retracement level of the last decline from the $1070 high to $904 low at $987 is acting as a hurdle. The main resistance is around $1030 and the trend line since it is close to the 100 hourly simple moving average.

Ethereum Price Technical Analysis ETH USD

On the downside, an initial support is at $935. The most important support is at $900, which must hold declines in the near term.

Hourly MACD – The MACD is still in the bearish zone with no positive signal at present.

Hourly RSI – The RSI is currently moving higher, but it is still below the 50 level.

Major Support Level – $900

Major Resistance Level – $1030

 

Charts courtesy – SimpleFX

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Bitcoin Cash Price Technical Analysis – BCH/USD Struggling below $1800

Key Points Bitcoin cash price made a downside move recently and traded below $1800 against the US Dollar. There is a new connecting bearish trend line forming with resistance at $1650 on the hourly chart of BCH/USD (data feed from Kraken). The pair has to move above the $1650 and $1700 resistance levels to gain … Continue reading Bitcoin Cash Price Technical Analysis – BCH/USD Struggling below $1800

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Key Points

  • Bitcoin cash price made a downside move recently and traded below $1800 against the US Dollar.
  • There is a new connecting bearish trend line forming with resistance at $1650 on the hourly chart of BCH/USD (data feed from Kraken).
  • The pair has to move above the $1650 and $1700 resistance levels to gain upside traction.

Bitcoin cash price traded below the $1800 and $1700 supports against the US Dollar. BCH/USD is likely to remain in a downtrend as long as it is below $1700.

Bitcoin Cash Price Decline

There was a steady decline noted in bitcoin cash price from the $2000 swing high against the US Dollar. The price declined and moved below the $1800 and $1700 support levels. It even broke the 50% Fib retracement level of the last upside leg from the $1350 low to $2132 high. It opened the doors for more losses and the price traded toward $1500.

A low was formed at $1503 and the price is currently correcting higher. It is testing the 23.6% Fib retracement level of the last decline from the $2125 high to $1503 low. There is also a new connecting bearish trend line forming with resistance at $1650 on the hourly chart of BCH/USD. A break above the trend line resistance at $1650 is needed for buyers to gain control. Above $1650, the next major resistance is at $1800 and the 100 hourly simple moving average. It is also the 50% Fib retracement level of the last decline from the $2125 high to $1503 low.

Bitcoin Cash Price Technical Analysis BCH USD

Therefore, a break above the $1800 resistance would be a good positive signal. On the downside, the $1500 level is a major support and must hold to avoid further declines.

Looking at the technical indicators:

Hourly MACD – The MACD for BCH/USD is struggling to move back in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is recovering higher toward the 45 level.

Major Support Level – $1500

Major Resistance Level – $1650

 

Charts courtesy – Trading View, Kraken

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Blockchain – Progression in Securities Markets?

Blockchain solutions for payments seem about a dime a dozen. But less is heard about bringing blockchain to the securities industry, even though current securities post-trade processing holds a large amount of inherent risk. Is blockchain technology a …

Blockchain solutions for payments seem about a dime a dozen. But less is heard about bringing blockchain to the securities industry, even though current securities post-trade processing holds a large amount of inherent risk. Is blockchain technology a viable solution for the securities markets? Does the industry want to move forward with DLT and, if so, how will this progress from use case to business case? What are the challenges and opportunities? BNY Mellon’s Tom Casteleyn explains the latest blockchain and DLT trends impacting the securities industry.

Bitcoin Price Technical Analysis for 01/23/2018 – How Low Can It Go?

Bitcoin Price Key Highlights Bitcoin price continues to trend lower and has barely found support after the previous retest of a broken short-term trend line. Price is still inside its longer-term descending channel and looks ready for another move towards support. Applying the Fib extension tool on the latest correction shows that the 38.2% level … Continue reading Bitcoin Price Technical Analysis for 01/23/2018 – How Low Can It Go?

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Bitcoin Price Key Highlights

  • Bitcoin price continues to trend lower and has barely found support after the previous retest of a broken short-term trend line.
  • Price is still inside its longer-term descending channel and looks ready for another move towards support.
  • Applying the Fib extension tool on the latest correction shows that the 38.2% level is holding but that price could still head to the lower levels next.

Bitcoin price continued its slump and may be setting its sights on the lower Fib extension levels.

Technical Indicators Signals

The 100 SMA is below the longer-term 200 SMA so the path of least resistance is to the downside. In other words, the selloff is more likely to continue than to reverse.

These moving averages are close to the channel resistance, adding an extra upside barrier in the event of a test. If selling pressure persists, bitcoin price could break through the 38.2% level then move on to the 50% extension at $9148.52.

The next support is at the 61.8% extension at the bottom of the channel around $8200 then the 76.4% extension is located at $7066.67. Stronger selling momentum could lead to move all the way down to the full extension at $5205.62.

Stochastic is pulling up from the oversold region, though, indicating that buyers could take over price action and probably lead to a move up to the area of interest at $13,000-14,000. RSI, on the other hand, is still pointing down to signal that sellers are in control.

Market Factors

The dollar drew some support from the passage of the funding bill in Congress that effectively ends the government shutdown. Equities and bond yields also ticked higher, drawing investors back to the U.S. markets again.

Meanwhile, bitcoin price tumbled once more as South Korean regulators took more steps to remove anonymity in transactions. The Vice Chairman of the Financial Services Commission real names on a virtual coin exchange wallet and bank account must be the same for a user to be able to make deposits starting January 30.

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Nordic Banks Express Hostility to Cryptocurrency

Two of Scandinavia’s largest banks have expressed their concern over Bitcoin and other digital currencies. According to a memo sent on Monday, Nordea will no longer allow its employees to trade cryptocurrency. The ban was confirmed by a phone call received by news outlet Bloomberg which also set a date for the new regulation coming into … Continue reading Nordic Banks Express Hostility to Cryptocurrency

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Two of Scandinavia’s largest banks have expressed their concern over Bitcoin and other digital currencies. According to a memo sent on Monday, Nordea will no longer allow its employees to trade cryptocurrency.

The ban was confirmed by a phone call received by news outlet Bloomberg which also set a date for the new regulation coming into effect – February 28. Afroditi Kellburg, a spokesperson at the bank cites the “unregulated nature” of the digital currency market as reasoning behind the decision. Additional concerns were the lack of protective measures in place to support investors in the space and the lack of transparency some cryptos have. Finally, Kellburg also highlighted issues with volatility and liquidity to the news source.

Employees exempt

The policy from Nordea will include some “transitional provision for staff with existing holdings” and will allow “for certain exceptions”. This means that any of the 31,500 current employees at the financial institution will be able to keep their existing crypto holdings.

Meanwhile, another Scandinavian bank has also expressed skepticism about the cryptocurrency market. Danske Bank A/S is the second largest Nordic bank. They too are discouraging employees from trading digital currencies. However, they are yet to make a decision on whether a similar blanket ban is required. Danske spokesperson Kenni Leth told the news source via email:

“We’re sceptical toward cryptocurrencies and are advising our employees not to trade them, but we don’t impose an actual ban… We’re currently analysing the situation and time will tell whether there’ll be a formal ban.”

Neither of the aforementioned Nordic banks currently offer any products for their clients to get involved with the cryptocurrency space. In the same email, Leth from Danske Bank stated:

“Due to lack of maturity and transparency in the various cryptocurrencies, we have decided not to provide trading of such securities on our various investment platforms.”

Today’s sentiment coming from the two banking institutions is in line with that expressed by Nordea’s Chief Executive Office Casper von Koskull. In an interview from last December, he called Bitcoin an “absurd” construction alleging that it completely defied logic. He went on to highlight an oft-repeated criticism of cryptocurrency, that it’s used to conduct financial crimes.

Banks hesitant

Meanwhile the European Banking Federation have yet to impose any regulation surrounding Bitcoin. However, a spokesperson for them, Raymond Frenken, has also weighed on the topic of banks banning investment in cryptocurrency. Bloomberg report:

“If banks like Nordea are going to have a very specific policy on this — and we’re hearing regulators are taking a look at this, including the ECB and central banks — probably it will be that it’s changing. With developments like this, it’s more likely that it will have to be discussed in the context of the European Banking Federation.”

The EBF spokesperson concluded by stating that this was the first they’d heard of a bank banning Bitcoin investments. “This could very well be a first”.

 

Image: PixaBay

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Huobi Offers Platform Utility Token, ‘Not An ICO’

Huobi, the former Chinese cryptocurrency exchange, has announced that they will issue a token (the ‘Huobi Token’, HT) starting January 23. #NEWS

Huobi, the former Chinese cryptocurrency exchange, has announced that they will issue a token (the ‘Huobi Token’, HT) starting January 23. #NEWS

Goldman Sachs Warns High-Profile Clients of Crypto Bubble

In a lengthy document to their highest profile clients, the Goldman Sachs Private Wealth Management division has warned about the danger of investing in cryptocurrency. For the banking giant, the rise in Bitcoin and other digital currencies during 2017 is a sure signal that the entire space is in an economic bubble. Typically for crypto … Continue reading Goldman Sachs Warns High-Profile Clients of Crypto Bubble

The post Goldman Sachs Warns High-Profile Clients of Crypto Bubble appeared first on NewsBTC.

In a lengthy document to their highest profile clients, the Goldman Sachs Private Wealth Management division has warned about the danger of investing in cryptocurrency. For the banking giant, the rise in Bitcoin and other digital currencies during 2017 is a sure signal that the entire space is in an economic bubble.

Typically for crypto naysayers, during the 108 page document the authors mention the Dutch “Tulipmania” of the seventh century, as well as the “dot-com” bubble of the turn of this century. However, they also go on to highlight the surge in the price of the stocks of firms loosely associating themselves with the cryptocurrency space:

“The mania surrounding cryptocurrencies is probably even better illustrated by the price surges seen in companies that announce some type of affiliation with blockchain technology or cryptocurrencies.”

Stock bubble

For Goldman Sachs, recent examples like Long Blockchain (LBCC) (formerly Long Island Ice Tea Group) and the Crypto Company (previously a sports bra company) seeing the value of their shares increase by a percentage of five figures is clear evidence of an economic bubble.

During the document, Sharmin Mossavar-Rahmani and Brett Nelson (both senior officials at the Investment Strategy Group Goldman Sachs) do acknowledge some practical uses for the rapidly growing technology behind cryptocurrency. Again, they reiterated the enthusiasm for blockchain common amongst most central bankers of the world. However, for them Bitcoin does not provide enough of the advantages that other digital currencies could potentially deliver. They write:

“We think the concept of a digital currency that leverages blockchain technology is viable given the benefits it could provide: ease of execution globally, lower transaction costs, reduction of corruption since all transactions could be traced, safety of ownership, and so on. But bitcoin does not provide any of these key advantages. Quite the contrary. Not only is there no ease of execution, but settlement often takes as many as 10 days. In late 2017, the price discrepancies among 17 US exchanges for one bitcoin amounted to $4,156, or about a 31% difference between the high and low prices. Transaction costs have skyrocketed, and frequent hacking has wiped out entire wallets and exchanges of their bitcoin holdings.”

The pair go on to highlight their scepticism that Bitcoin and other cryptos will maintain their current value in the long run. They’re also doubtful that cryptocurrency will replace the dollar as a global reserve currency.

Unsteady as she goes

The document, titled “(Un) Steady as She Goes” does not focus purely on Bitcoin, however. It serves as a round up of the various events happening in the previous 12 months that have affected the value of the dollar. It was sent exclusively to Goldman’s wealthiest clients. To be considered worthy of membership of the firm’s Private Wealth Management division, clients must have at least $10 million in assets that are available for investment purposes.

 

Image: Flickr

 

 

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Following Weekend Pullback, Cryptocurrency Prices Continue to Dip

crypto market dipsWe’re a week out from the largest correction the cryptocurrency market has seen since the Mt. Gox crash, and it looks like the market still isn’t done playing possum. Prices continued to bleed this Monday after a weekend dip that had most coins down from their 24hr highs. As crypto’s total market cap flirts with the $500bln threshold, you may be wondering, “Is last week’s correction still in full swing?” Please Sir, Can I (Not) Have Some More? If you’re asking whether or not we’ve seen the last of last week’s devastating correction, you’re not alone–I promise. While there’s no

crypto market dips

We’re a week out from the largest correction the cryptocurrency market has seen since the Mt. Gox crash, and it looks like the market still isn’t done playing possum. Prices continued to bleed this Monday after a weekend dip that had most coins down from their 24hr highs. As crypto’s total market cap flirts with the $500bln threshold, you may be wondering, “Is last week’s correction still in full swing?”

Please Sir, Can I (Not) Have Some More?

If you’re asking whether or not we’ve seen the last of last week’s devastating correction, you’re not alone–I promise. While there’s no sure-fire method to ascertain the answer to this question, the charts don’t paint a promising picture.

At press time, only 12 out of the market cap’s top 100 were in the green, while only Stellar Lumens and EOS were up in their 24/hr price change in the top 10–and just barely, at 4.44% and 4.24%, respectively.  Taking a look at the rest of the top 10, you’ll run into a wall of red, though it’s not nearly as bad as at the low-point of the recent correction.  

Bitcoin is down 7.93% with a $10,530 price tag at the time of writing, while Ethereum, still down 6.59%, is doing the best out of the top 10’s losers sitting at $968. Ripple is performing the worst out of the pack, with its $1.21 price down 12.06%.  Meanwhile, Bitcoin Cash has lost 10.83% of its value at $1,565, and Litecoin isn’t fairing much better with a $172 valuation down 8.45% in 24/hrs.

Last week, cryptocurrency’s total market capitalization slumped to $414bln on January 17th, the lowest it had been since its December run-up.  This low put the market at just over a 50% loss from its all time high of $834bln on January 7th, a crushing blow at a time when new investors were entering the market on the back of a holiday bullrun.  

Needless to say, this pullback hasn’t been nearly as brutal, even as crypto’s market cap dipped briefly below $500bln earlier in the day. During this dip, there are a handful of coins still performing well amidst the struggling throng, while last week’s correction had most all prices bleeding for a matter of days. For instance, Waltonchain and VeChain have been swimming against the red tide, and so have Cindicator, PIVX, and (per previous mention) Stellar and EOS, among others.

We’re not going to tell you this is the end of the world and the beginning of a bear market, nor are we going to predict that this correction, dip, pullback, or whatever you’d call it is nearing its end. However, the market seems more resilient in its response to this dip than it was to last week’s correction, as it didn’t stay below $500bln for long.

So for now, just sit tight, keep your eyes peeled, and remain calm–we’ll know the answer soon enough.