The cryptocurrency market has seen significant bearish activity over the last week. Bitcoin, Ethereum, Litecoin, and other major digital assets have retraced to price levels not seen since last September.
If you’ve been in the crypto sphere for a while, then you probably know what to expect. You might have even experienced it first-hand. However, if your experience is limited and you want to maximize your returns. This guide will be worth reading. So, without further ado: let me walk you through my expectations and…
Shortly after peaking at $68,770 on Wednesday, which pulled the cryptocurrency market cap past $3 trillion for the first time, the price of Bitcoin dropped to the $63,000 level in a somewhat dramatic fashion. As is usually the case when short-term volatility shows its teeth, a cascade of liquidations saw more than $500 million worth of ‘longs’ erased from the order books.
One of the biggest financial institutions in the United States, U.S. Bank has started offering cryptocurrency custody services for Bitcoin, Bitcoin Cash, and Litecoin. U.S. Bank joins the likes of JPMorgan and Wells Fargo, which have recently expanded their repertoire of products and services to include crypto offerings.
A press release of Walmart accepting Litecoin payments (now removed) that appeared yesterday on GlobeNewswire sent the market in a momentary frenzy. Most crypto assets started approaching double-digit gains in the moments following the announcement with Litecoin leading the charge with a 35% price increase. The news was disproven in a matter of an hour as a Walmart spokesperson confirmed that “the press release was not authentic.”
Thanks to the strong performance of cryptocurrencies in the market (Bitcoin alone is up over 300% in the last year), the number of people that own crypto has seen a sharp increase. And while many cryptocurrency owners are happy with just passively HODLing their coins, others are looking to actively use the technology and experience its unique advantages. Cryptocurrencies enable 24/7 transactions anywhere in the world, typically at much faster speeds and lower costs than using traditional banking and remittance services.
Cryptocurrencies are hot right now, especially among speculative speculators. The financial press is now paying close attention to what was formerly considered a speculative investment. Every day, CNBC and other financial networks discuss Bitcoin. There’s even a ticker on the wall that shows the current price. All of this adds up to investors’ familiarity with Bitcoin and the cryptocurrency movement. Many individuals are unaware that Bitcoin isn’t the only digital currency available. If you don’t want to be limited by the big names, there are plenty of other smaller options. You should be aware that each cryptocurrency is unique, and you should seek financial advice before investing in these risky investments. If you’re ready to invest in cryptocurrency, take a look at these 10 low-cost alternatives.
Digital currency is considered one of the biggest innovations in the past 20 years. Blockchain technology is changing how consumers transact online. Although Bitcoin looked valueless when it first launched, it has steadily proven the worth of cryptocurrency and opened the door for other altcoins in the process. Consumers are slowly adopting digital coins as payment solutions in various marketplaces, with online gambling as a top contender. New approaches to payments have fueled the dramatic growth of the internet gambling sector. Operators are always looking for the most efficient ways for users to transact online, and digital currencies solve several issues.
Another week filled with red numbers has brought the total cryptocurrency market capitalization back down to $1.50 trillion, before it climbed back up to $1.62 trillion in the last few Sunday hours. While Bitcoin ended week 23 with an 8% gain over last 7 days, quite a few altcoins from the top 50 cryptocurrencies posted 10% or even greater loses. As a natural consequence of that, BTC dominance is on the rise again. However, altcoins are known to be even more volatile and risky, than the industry’s leading cryptocurrency but when the market trend switches, altcoins are usually the ones that rebound higher. Therefore, we are betting on these three promising altcoins this week.