THE WEEK IN CRYPTOCURRENCY
The bulls are back in town
You know things are looking bullish when twitter starts to explode with charts promising the moon. And you know the bears are back when those same twitter posters suddenly stop tweeting charts. The bulls, ladies and gents, are tweeting up a storm. Has the bear trend ended? Hard to say, but we did have a $1,000 Bitcoin candle this week so surely the good times are back!
Look at that image below and tell me we didnt’ have a good week. It’s been four months since we’ve seen nearly seven days of positive price gains across the majority of the top 20 coins. Not only that but altcoins have seen some serious volume spikes in the past week indicating that #altsareback may actually be true.
The overall cryptocurrency marketcap grew a delightful 24% in the past week bringing the overall cryptocurrency marketcap to $324bln. This doesn’t mean the we are back on the upward track, so make sure you keep vigilant. Many of the top crypto traders used these past four months to build their existing positions or open news one at amazing entry prices, we hope you did the same.
Bitcoin: Where have you been hiding? The cryptoverse went crazy on April 12th as Bitcoin jumped up 18% from $6767 to $8050. It’s been some time since we’ve seen that happen. Week to week Bitcoin grew 20% at is priced at $7989 as of this post. Add to Bitcoins rally the fact that many altcoins are also seeing massive price moves and you can understand why the bull may be back. Tax season is still upon us so there could be some choppy moves in the short term, but this is positive news nonetheless.
Ehtereum: “A rising tide lifts all boats” goes the aphorism, and in this case it couldn’t be more accurate. ETH was not immune to Bitcoins surge as the price in ETH followed suit growing a healthy 29% in the past week settling at $503 as of this post. Remember, remember the 12 of April as ETH surged 20% in one day. Ethereum was never going to stay sub $400 forever, we hope you #BTFD.
Litecoin: LTC had some positive price movement this past week, though nothing like BTC and ETH. Still LTC posted a respectable 15% gain over the past seven days settling at $127 as of this post. Litecoin has found strong support at $114 and is forming a bull flag. Good signs for the the Silver to Bitcoins Gold.
What’s new at Crypto is Coming
Did you know that there are markets outside the traditional cryptocurrency exchanges that deals in several millions of dollars worth of Bitcoin daily? They are called “Over the Counter (OTC)” markets and its a way for the super-wealthy to buy and sell Bitcoin and other assets or cryptocurrencies without seriously inflating or deflating the price, maximizing their trading power. The more you know.
In early December the Ethereum network started to experience severe congestion due to the eruption of Crypto Kitties. This shone a very bright spotlight on the Ethereum scaling debate asking tough questions about Ethereums ability to support robust DAPP demands. GONetwork is one of the projects trying to address the Ethereum scaling problem. Check out our guide What is GoNetwork?
Theft and robbery are common occurences in our world. Whether is blue or white collar theft everyone is responsible for making sure their belongings are safe and secure. That’s also true for cryptocurrencies. We explore the 7 Ways to lose your crypto and how to avoid it. Because we care about you and want to make sure you stay safe out there in the crypto wild wild west.
Software as a Service (SaaS) has been a major industry mover over the past five years and it’s no surprise most companies are pivoting in the direction of subscriptional services. But what about Blockchain as a Service (BaaS)? STRATIS means to meet this demand. Check out our guide ‘What is Stratis’ tto find out more.
The centralized model of identity verification we use today takes the control of your identity and places it in third party hands. You have no choice but to trust said party with your password and personal information if you wish to create an account. The answer to decentralized personal identity lies in the blockchain, enthusiast believe. In this piece we investigate how the blockchain will help secure our identy in this ever increasing digital world.
Is Bitcoin Destroying the Planet? Check out our cryptographic for a visual guide detailing whether or now Bitcoin is truly an energy hog as the news outlets claim.
While the popularity of cryptocurrencies is on the rise, actual uses for it remain frightfully scant. How do you spend your crypto winnings? Is the only way to convert to FIAT (like US Dollar, or Euros) using an exchange and paying ridiculous fees? Crypto Debit Cards TenX and Token aim to address this space. Check out our guide Crypto Debit Cards: TenX vs Token
Cryptocurrency news from around the internet
Everyone rejoice Bittrex has opened registration again! Not only that but they got a makeover.
JP Morgan always seems to be in the news for the wrong reasons. This time JP Morgan is being sued for charging surprise fees when it stopped letting customers buy cryptocurrency with credit cards in late January and began treating the purchases as cash advances.
Inside the Jordan refugee camp that runs on blockchain. A fascinating article on how blockchain technology is helping Syrian refugees regain legal identities that were lost when they fled their homes.
Another day, another crypto scam. $660m raised in a Vietnamese ICO has vanished along with the company tasked with running the offering. That’s a whole lotta money.
Verge, XVG, is one of the most divisive projects in the cryptocurrency community. While there has certainly been a great deal of #FUD, signs are pointing to a large scale XVG exit scam in the making.
Crypto scammers are getting more and more creative by the day. Recently a very sly scammer posted his MyEtherWallet private keys in a chat group containing $5000 worth on Minerium, but the address had no GAS to transfer it out. Half the people in the chat send gas to take it. A smart contract Auto-sends the $ETH to another address; keeps MNE in the account. WOW.
That’s it for this weeks edition of the Raven’s Dispatch. Keep an eye here for future contests and giveaways. If you have any feedback email us at email@example.com
All the best,
The Crypto is Coming crew
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