THIS WEEK IN CRYPTOCURRENCY
So much for the Bitcoin bears
The overall cryptocurrency market cap hasn’t made any drastic moves since last week and currently sits at $457bln (A mere 0.2% change from last we chatted). Sideways movement in the market is not a bad thing, it tends to indicate consolidation before we return to the previous trend. Let us never forget the wise words of a drunk man: #HODL. There never seems to be a calm week in the world of cryptocurrencies and this was no exception. Let’s get to it, shall we?
Bitcoin continues to find support around $10,100 and with the positive news that Segwit adoption is on the rise things are looking rosy for the king. BTC experienced a slight 0.12% decrease in price over the last 24 hours but is displaying an inverse head and shoulders pattern, giving investors on the fence something to think about.
Ehtereum has been rather boring this past week in terms of price finding some support at $845. In other news Porsche is launching an Ethereum based blockchain to help ‘smartify’ cars. Is that really a word now? Smartify? What is the world coming to. With a price of $863, ETH is up a staggering 1% from last week.
Litecoin experienced a slight retracement this week trying to settle around $200. Indicators are showing the uptrend it not at risk. We were also told, according to the Winklevii (yes they call themselves that), that Litecoin is not the silver to Bitcoins gold but merely a tesnet. I suppose the argument has merit, but it still doesn’t sit right. Anywho……
What’s new at Crypto is Coming
We’ve been busy little badgers this week. Actually, Conor has been the writing maching this week. You can tell he LOVES crypto. And that’s great for us and you.
With the upcoming Ethereum Classic hard fork creating the Callisto blockchain we decided to look into why the ETC chain exists in the first place. Do you know why the hard fork was originally proposed? It was a rather contentious debate at the time which split the community.
Big players in the cryptocurrency space are made some important moves this week. With the news the Digital Curency Group bought the crypto friendly Silvergate bank, we also learned that Circlepay purchased Poloniex. That’s interesting news because Poloniex, once a top dawg in the altcoin exchange space, was losing steam and trade volume for a while. Will this injection of capital turn things around for the once popular exchange?
Have you evern wondered why it’s so difficult to trade cryptocurrencies? Not just the act of buying and selling, but getting your money onto an exchange, then having to purchase BTC, then move the BTC to an exchange that has the cryptocurrency you want to purchase, then execute your purchase. It’s a pain. How will interoperability play a role in 2018?
Cryptocurrency news from around the internets
What the hell happaned to ZClassic this week? The price of ZCL has crashed 89% in the past week and shows no signs of hitting a bottom. This coin is sinking like the Hindenburg, and we all know how that ended. This is a crazy turn around after the altcoin exploded at the end of December 2017. It all has to do with the new BTC hardfork Bitcoin Private, and the fact that the devs from Zclassic seemed to have all jumped ship. Ever wonder what a shitcoin was? Now ya know.
NEO, NEO, NEO the “Chinese” Ethereum. As of this post NEO is now the 6th largest altcoin based on marketcap totaling $8.3bln. It’s been quite a week for the platform spiking 17% this week. With more ICOs and coin listings to come that are based on the NEO blockchain you can expect the price to continue it’s upward march.
On the “you disclosing that BTC interest in yo taxes?” front, Curtis James “50 Cent” Jackson III has claimed during his bankruptcy hearing that the media reports of his BTC fortune are falsely stated. This meme says otherwise, Fiddy.
Porsche is throwing their hat into the blockchain mix by “blockchenifying cars in a partnership with Xain”. Why these writers find the need to invent a lame word like “blockchainify” is beyond me. Anyhow the concept seems interesting from opening your doors faster (uhh ok), to cars communicating via smart contract. It’s amazing how the blockchain can have so many applications.
Thanks for joining us this week! Good luck on your journeys through Crypteros. May the seven guide you.
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