Cryptocurrency update (Bitcoin volume 2?)

Forums:

https://www.coindesk.com/major-cryptocurrencies-are-hitting-2018-lows-to...

 

Bitcoin's drop to an 11-day low of $7,438 is hogging the limelight, as usual, but other cryptocurrencies are struggling, too.

Today, ether (ETH), Ripple's XRP and bitcoin cash (BCH) all dropped to fresh lows for the year so far. Thursday's market developments highlight the continued crunch in the crypto markets, which has solidified in the months since many crypto-assets soared to all-time highs.

Indeed, during the first week of January, the overall market capitalization of the cryptocurrency market exceeded $800 billion - as of today, that figure has dropped to roughly $275 billion, according to data from CoinMarketCap.

Ether

Ethereum's ether token, the second-largest cryptocurrency by market capitalization, continues to take a beating, and as of press time threatens to drop below the $400 mark. ETH has depreciated by 10 percent in the last 24 hours and is down 47 percent on a year-to-date basis.

It's worth noting that the 14-day relative strength index (RSI) shows that the cryptocurrency is at its most oversold level since December 2016 and, hence, could see a sharp rally if the broader markets regain poise.

XRP

XRP fell to $0.53 soon before press time - the lowest level since Dec. 14, according to CoinMarketCap. The cryptocurrency's value has depreciated by 8.8 percent in the last 24 hours and, on a year-to-date (YTD) basis, it is down 76 percent.

The world's third-largest cryptocurrency hit a record high of $3.84 on Jan. 4, and since then has been steadily losing altitude in line with the broader market. However, as seen in the chart below, the sell-off looks overdone.

Bitcoin cash

Meanwhile, bitcoin cash dropped to $757 today, the lowest level since Nov. 10, and was last seen trading at $785. Cryptocurrency payment processor BitPay announced yesterday that it has added support for bitcoin cash - however, the news has failed to put a floor under prices.

The fourth-largest cryptocurrency is down 12 percent on a 24-hour basis, while on a year-to-date basis, it has depreciated by 70 percent.

 

buy high sell low

enjoy the global financial meltdown 2.0

 

BTC 

March 2010: $0.003

March 2011: $1

March 2012: $5

March 2013: $80

March 2014: $600

March 2015: $250

March 2016: $400

March 2017: $950

March 2018: $8,500

When did you get in? 

march 2009

Same cycle of excited runup followed by a return to normalcy we saw in 2011 and 2013. This is the end of the 2017 cycle.

 

Nothing new to see here.  

 

Last sold at $17500 and have been dipping back in sub $7500 here and there.

EOS is going live in June.  Built for scalability.. I like the transparency of their development team and Dan Larimer's past speaks for itself.  Holding out and excited.  A platform that will bring dApps to mainstream audience/use.

That 51% attack on verge is a hell of a proof of concept.

Is Bitcoin a "buy" at $6600?     

I thought it was, Steve.

been a good afternoon.

 

is bitcoin a "buy" at 7800?

it seems it might have been steve.

 

i didnt. feel pretty good about my position currently.

AT&T just announced they will start accepting Bitcoin as payment.

 

There are only 21 million of these things (with perhaps 4-5 million lost)

Get off zero and get yours before it's too late.

 

<<is bitcoin a "buy" at 7800?

It sure was at $3800 a few months back.
I hope you grabbed some!

>>>>AT&T just announced they will start accepting Bitcoin as payment.

 

Too much fun. 

BTC $8700 today.

 

Now, that's fun!

What is more fun than buying more money you can use for AT&T?

 

Not much, my friend.

I'm getting old.