The cryptocurrency market had a stellar 2017. A good number of cryptocurrencies experienced massive price jumps. Bitcoin rose from just under $1,000 at the start of 2017 to almost breaking the $20,000 benchmark in December before sliding down again. For those that dont know 2013 was the fall of the exchange mt gox and the seizure of silk road.
Have to treat this dip as a late January sales. The are some brilliant bargins right now; just wish I had more spare cash to invest. We might never see BTC at the last high, but I find that highly unlikely. Cryptocurrencies are now set in the landscape. I still remember people telling me eCommerce on the internet would NEVER happen. That you'd never have voice recognition, wireless phones, flat screen tv's and a whole plethora of technology. To believe BTC and other coins have no purpose is keeping oneself stupidly blind to an emerging future technology.
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Bitcoin is being traded on chicago futures exchanges and banks want to use blockchain technology so the world governments will regulate it but BTC isn't going anywhere.
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My concern is that these traditional trading platforms allow whales to manipulate the Crypto markets further than they are doing right now. There is no coincidence that since Xmas, futures and other markets have allowed shorting the coin, and surprise suprise, it has taken a nose dive. I would not be surprised to discover later on in the year that one or more whales have found a new technique for manipulating the price via shorts, but now have a 'establishment' led method that allows them to walk away with their new gains without a blink of an eye by anyone.
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