The Tuesday, January 30th Morning Edition of The Cryptocurrency Novice Report

Welcome to the Morning Edition of The Cryptocurrency Novice Report for Tuesday January 30, 2018.

It's the Morning Report, so it's time for another edition of...

A Word to the Wise

It seems that there are an unlimited number of Bitconnect clones out there and today we are featuring another one. Hmmm, maybe I should change the name of this feature to Another Bitconnect Clone Scam? Anyway, today's scam is, as mentioned previously, another Bitconnect clone called Ethconnect.

Like all the other Bitconnect clones, Ethconnect plans to make you rich using their super secret trading bot to trade Ethconnect coins you lend them. And like all other Bitconnect clones, Ethconnect is really just a giant Ponzi scheme.

A Word to the Wise, avoid Ethconnect at all costs.

The Report

This morning we see the broad cryptocurrency market continuing it's recent downward trend. With coins in the red outnumbering the coins in green by a 10 to 1 margin, it's hard to find much good news.

Coming off a very good weekend when Bitcoin managed to break above $12,000 briefly, Bitcoin has fallen steadily and is currently at $10,490 down about 7% from yesterday morning. Having spent all of last week above the $10,000 support level, we will see if Bitcoin can stay above this important threshold.

Steem is having a rough Tuesday. Currently it is at $5.14, down almost 14% from yesterday morning.

SBD is likewise getting beat up pretty bad today. Currently SBD is trading at $5.72 down over $1 from yesterday or almost 16% in the last 24 hours.

Stay tuned for the afternoon report where we will see what the whales have done to the supply of liquid Steem from last week.

Please note: I am not an investment professional. The information I present here is only my opinion. Markets go up and markets go down. This is no time to panic. This is not the crypto Armageddon. Sell wisely, not in a panic and as always, search for some bargains to buy.

Until next time...

Proud member of @qurator! Click below to find out more about this fantastic Steemit community.

Please keep exposing these scams. Crypto coins need help to keep us all from being dragged down into the sewers by the scum that create this trash.

Thanks for your support! I'll keep shining a light on the scams.

Thanks for this report as always @gregory-f! STEEM is on a serious downtrend, but hopefully it hits a support level soon. Would really appreciate any feedback you have on my posts!

Maybe if @berniesanders and @haejin get into another squabble, Steem will start rising as all the Haejin supporters buy up Steem to help him fight Bernie. But it seems maybe they figured out that his predictions aren't worth much in a falling market.

That would be an interesting theory!

Even more interesting would be if Bernie and Haejin are in it together! But that just sounds like a crazy conspiracy theory doesn't it. Doesn't it????

haha agreed! Although I do not think it's true, conspiracy theory!!

There is a neoconnect as well hahah i guess they fail to connect lol

Thanks for the heads up, I may feature them in a future report.

thanks for your report

wow... i think it is great post... because you sharing some important news... best of luck...

Thank you sir.. For your valuable post..

As a follower of @followforupvotes this post has been randomly selected and upvoted! Enjoy your upvote and have a great day!

There are many clones out there one after another i will not fall for any of these traps