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Let me first start out with what is going on today. Once again, it’s a crazy day in the cryptocurrency market. Bitcoin reached a new high of $4,400 during the past 24 hours. During this week of new highs, have you guys noticed something unusual going on in the cryptocurrency space or is it just me?
Well then, I will say it here. Most of the popular alt-coins have been heading downwards or remained flat. Typically, we would expect these coins to move higher with the Bitcoin controversy out of the way. You have groups from different areas that are now saying that the market is being carefully manipulated.
You will hear another group say that more people are just jumping into Bitcoin and ignoring the other alt coins with respect to volume. And finally, you will hear another group say that prices are stable, providing more of an entry point for hedge funds and other financial institutions.
So, let me know what you guys think. It is definitely interesting seeing Bitcoin go higher each day, while much of these alt-coins either lose their value or stay relatively flat. And well, I do not like to sound like a conspiracy theorists, but something fishy is going on in this market.
At this point, if Bitcoin were to take a $1,000 point drop at any moment, then the other coins could topple as well and head further to bear market territory relatively quickly. So, for everyone investing in Bitcoin and cryptocurrencies, just be careful.
If we were to look and understand this current cryptocurrency industry, but more particular the people that are involved, YOU and I would be considered innovators that are investing into this space right now. Whether you are investing in Bitcoin or other crypto currencies, maintaining a YouTube channel, or simply just paying attention to what is going on, then you are an innovator.
This crypto currency mania has not even reached 1% of the general public's interest. Once it reaches between 1 to 3 percent, then you will hear some crazy things going on in this space. I will go off what Clif High would call it, as a period of innovation for a small group of people at this junction of time. And for folks who do not know Clif High, he comes up with monthly analysis on cryptocurrencies and some other weird stuff.
His cryptocurrency stuff I care about because the guy can move markets, even though the other info he covers on different topics, I generally don’t see eye to eye with. But he’s definitely sought upon when talking about these various alt-coins. This morning, Clif High talked about what he thinks of the cryptocurrency space with YouTuber Jsnip4 and Bix Weir. I will leave a link to the conversation at the bottom of my video for you guys to check out. Link to Clif High, Jsnip4, and Bix Weir Interview
So lastly, before I go into the news, just one more thing to highlight. The price of 1 Bitcoin is now worth about 3 ounces of Gold, which is freaking incredible! And popular coins or rather tokens like NEO and IOTA have seen more than a 500% gain in the past week. Both cryptocurrencies are in the top 10 of the coin market cap with NEO at the 6th place, currently priced at $50 (USD) and IOTA at the 5th place, just shy under a 1 dollar (USD).
Alright gentlemen and the few ladies out there…You can check out references to all this information here on Steemit and much more. Thank you for either watching or reading this info. Lastly, you can subscribe/like on YouTube or Follow me on Steemit for more information.
You can reach me here:
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Steemit: @Sobuka
Relevant Sources:
[1]. "REALIST NEWS - The Three Amigos - August 2017 - Lots To Talk About- Bix, Clif High, jsnip4." Jsnip4 Channel. Link is here
[2]. "Coin Market Cap." By Coin Market Cap. https://coinmarketcap.com/
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