2018 Week #12 in Review 
March 18 - March 24

The Cryptocurrency Market saw a Marketcap low of $281 Billion Dollars, and a Marketcap high of $356 Billion Dollars.

Bitcoin's Marketcap dominance remains virtually the same as a week ago, while altcoin prices were a proverbial yard sale of red and green, with a few altcoins even gaining significant value vs. Bitcoin. Notably in the top Ten was EOS, gaining ~40% vs. Bitcoin.

Cryptocurrency Market Spotlight

Total Cryptocurrency Marketcap in USD

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Top Ten Marketcap vs USD

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Top Ten Marketcap vs Bitcoin

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Cryptocurrency Marketcap Numbers at a Glance

• 12 of the current top 30 cryptos have been online for less than a year

Top 30 Coins	Dominance	Last Week's Closing Price	One Year Ago Closing Price	Difference
Bitcoin	44.14%	$8,668.12	$972.78	+891%
Ethereum	15.63%	$526.44	$51.25	+1027%
XRP	7.40%	$0.641265	$0.009116	+7034%
BCash	5.13%	$982.30	$0.00	∞
Litecoin	2.75%	$159.63	$4.07	+3922%
EOS	1.53%	$6.63	$0.00	∞
Cardano	1.43%	$0.189201	$0.00	∞
Stellar	1.30%	$0.235422	$0.002016	+11677%
NEO	1.30%	$65.73	$0.167305	+39287%
IOTA	1.1%	$1.33	$0.590255	+225%
Dash	1.01%	$424.61	$94.33	+450%
Monero	1.00%	$209.16	$20.14	+1038%
Tron	0.80%	$0.049780	$0.00	∞
NEM	0.74%	$0.282152	$0.012710	+2219%
Tether	0.67%	💩	💩	💩
ETC	0.56%	$18.50	$2.28	+811%
VeChain	0.52%	$3.35	$0.00	∞
Qtum	0.48%	$18.07	$0.00	∞
ICON	0.46%	$3.64	$0.00	∞
BNB	0.34%	$13.09	$0.00	∞
Lisk	0.36%	$11.89	$0.269478	+4412%
OMG	0.35%	$11.10	$0.00	∞
Nano	0.32%	$7.70	$0.00	∞
BTG	0.30%	$60.85	$0.00	∞
Zcash	0.27%	$243.33	$63.40	+383%
DigixDAO	0.21%	$344.75	$14.80	+2329%
Verge	0.17%	$0.044792	$0.000029	+154455%
Populous	0.17%	$15.47	$0.00	∞
Steem	0.15%	$1.99	$0.180641	+1101%
Stratis	0.15%	$5.21	$0.131945	+3948%
Other	18.29%

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Bitcoin Spotlight

Bitcoin started the week at the end of Big Correction Wave 2 (as per Elliott Wave Theory), and looks to have started Big Impulse Wave 3 that theoretically should take the price of Bitcoin high enough to allow room for Correction Wave 4 afterwards.

None of this is guaranteed, but the odds are historically favorable for this outcome. There are the perpetually rising costs of mining to consider, along with the capital needed for infrastructure to grow and evolve. There are too many vested parties, and too much at stake for historical patterns to be disrespected.

There are both internal and external factors to consider when it comes to new money entering the space; not all capital is being invested in buying cryptocurrencies, a lot of capital is being used externally to grow infrastructure like exchanges, ATMs, nodes, etc. Weak points in the system that were detected during the last Bitcoin bull run are being upgraded and improved for the next run.

So, while the price of Bitcoin would suggest that nothing exciting is happening, much of the money being invested may not reflect at all in the Bitcoin price, and these external investments will allow a lot more capital to flow into Bitcoin as time moves forward. The on ramps and the off-ramps need to grow for the market to do the same. This is something you won't see being discussed in crypto groups on facebook or reddit, but its a key factor none-the-less.

Bitcoin Transactions in Mempool Awaiting Confirmation

image source

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Articles Spotlight

Twitter CEO Jack Dorsey says bitcoin will eventually be the single global currency

Someone must've bought some bitcoin and are now helping to pump it. maybe not though.

Dorsey believes Bitcoin will dominate the globe over the next ten years, and that "bitcoin is slow and it's costly, but as more and more people have it, those things go away."

Dorsey is also an investor in a company called Lightning Labs that is helping to slowly but surely grow Bitcoin's Lightning network infrastructure, and (in my own opinion) pave the way for Bitcoin to far exceed the current capabilities of the fiat banking and credit card infrastructure.

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Crypto Investors Should Stay Away from Venezuela’s Petro

I probably have some unpopular things to point out when it comes to the Petro. I don't own any, nor do I intend to, but there is some hypocrisy present in this article.

One of the arguments is that Venezuela's President Nicholas Maduro is the head of a corrupt government that is in violation of human rights violations; this is true and he's a monster. But, considering that the US has killed millions of innocent children and non-military civilians in the middle east in this century alone, has been caught targeting it's own citizens and military personnel for decades with biological and chemical experiments, imprisons more of it's own people through private and for-profit corporation-run prisons, and treats non-citizens caught in the country like they're rabid animals, one wonders where the line is drawn between acceptable and unacceptable human rights violations.

The other argument is that the Petro is hidden behind a black box of secrecy, or at least appears that way, although it reportedly is built on the NEM (New Economy Movement) blockchain. Again, we can look to the Federal Reserve or other central banks which are actually a black box of secrecy and corruption, having never been audited by a 3rd party, and (in the USA at least) a banking system that has never faced the consequences of crimes committed against US Citizens and other nations.

As they say: "whoever owns the gold, makes the rules."

While I have no love for the Petro, nor any liking for the Venezuelan President, nor do I condone human suffering brought on deliberately by anyone, I think it's important to remember that our governments in the West are occupied by people that are often no-less corrupt, and are responsible for some horrible crimes against humanity themselves.

I think the author of the article is presenting the wrong arguments, and should instead focus on the fact that the Petro is just a sketchy cryptocurrency that will likely land someone in prison for even owning it. Hussein got hung in the public square, and Qaddafi got shish-kabob'ed on the News for trying to create an oil-backed currency to circumvent the central banks and international sanctions. One wonders how long until the same is happening to Maduro. Maybe a swarm of miniature networked-AI combat drones will be sent after him soon.

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Cryptocurrency Market Takes a Minor Fall as Bitcoin and Ethereum Retreat 4%

I'm sharing this article because it's such a nothing-burger to be sitting on the top of Google search.

But, maybe it's meant to target traditional investors, I dunno. I think I'm making a fair assumption when I say that in the cryptocurrency world, a 4% price movement is about as newsworthy as yesterday's bowel movement.

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Videos Spotlight

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Cryptobud: Why Trade Wars will PUSH bitcoin to 100k!

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Alessio Rastani: Bitcoin Is Now Preparing For A Major Move

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Decentralized TV: VISA Finally Speaks! - Talks Down to Crypto Users and Enthusiasts - The End is Coming!

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Andreas Antonopoulos: Bitcoin Q&A: What is the roadmap?

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Thanks for reading and try not to lose your head in this crazy and blood-thirsty cryptomarket.

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Tip Jar:

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