Cryptocurrencies Market Overview - January 17 - Red everywhere

penguinpablo (75) in cryptocurrency • 7 years ago

Welcome to my Cryptocurrencies Market Overview for Wednesday, January 17, 2018.

Today in the news:

Another red day... It's red everywhere...
Bitconnect closes virtually its entire operation, BCC token drops 87%.
IBM is working with container shipping giant Maersk to create a blockchain-based platform.
The world’s fourth largest bank is planning to launch a cryptocurrency exchange.
Blockstream is putting the Lightning Network to the test on its live company store.
And more crypto news below...

24 Hour Change

Realtime chart on my website CoinMarkets.today

7 Day Change

Month-to-Date Change

24 Hour Volume

Market Capitalization

Bitcoin daily chart

Feel free to use and share my charts, but please mention me as the author.

Latest Crypto News - January 17, 2018

As Bitcoin's Slide Continues, Prices Look Towards $8K

Bitcoin looks like it might soon test near-$8,000 levels, as December's record-breaking rally continues to unravel.
_{Read more: coindesk.com}

Other sources:

Bitcoin Declined by 30% Five Times in 2017, Recent Correction is Tolerable

As CNBC Africa’s CryptoTrader host and producer Ran Neuner noted, bitcoin declined by 30 percent on five different occasions in 2017. This month’s 20 percent correction in bitcoin is tolerable, given the major corrections it had experienced in the past 12 months.
_{Read more: newsbtc.com}

Japan’s Largest Bank to Launch Cryptocurrency Exchange

As bitcoin trading becomes the new mainstream in Japan, leading financial firms are stepping in to offer services to preserve their market share. MUFG, the largest bank in the country, is now planning to launch its own exchange, a pegged cryptocurrency and bitcoin segregated accounts for clients of other exchanges.
_{Read more: bitcoin.com}

Other sources:

Japan’s Largest Bank MUFG Will Open Cryptocurrency Exchange: Local Reports (CCN)

BitConnect is shutting down its lending and exchange platform

Following months of red flags, Bitcoin investment platform BitConnect – which has long been suspected of running a Ponzi scheme – has officially announced its platform is shutting down.
_{Read more: thenextweb.com}

Official source:

Changes coming for the Bitconnect system - Halt of lending and exchange platform (bitconnect.co)

Blockstream Launches Micropayments Processing System for Bitcoin Apps

Bitcoin startup Blockstream has released a micropayment processing system that it claims makes it simpler to build bitcoin apps on top of its Lightning Network.
_{Read more: coindesk.com}

Other sources:

Blockstream Demos Lightning Network With Online Store

More than 200,000 sign petition in South Korea to stop government's crackdown on bitcoin 'happy dream'

A petition in South Korea against cryptocurrency regulation has reached the number of signatures that would induce a government response.
_{Read more: asiaone.com}

China’s Alibaba Launches Crypto Mining Platform Despite Restrictions, Say Local Sources

Chinese e-commerce giant Alibaba has launched a surprise cryptocurrency mining platform, unconfirmed sources surfacing today claim.
_{Read more: cointelegraph.com}

IBM, Maersk Partner to Create Blockchain Platform for Shipping Industry

IBM is working with container shipping giant Maersk to create a blockchain-based platform that will help speed up processing and cut costs.

_{Read more: cryptovest.com}

Other sources:

Ripple Price Drops Below Dollar Parity to Punctuate 28% Skid

The ripple price fell below dollar parity this morning, punctuating the third-largest cryptocurrency’s 28 percent skid.
_{Read more: ccn.com}

_{¯\___(ツ)____/¯ Don't miss out on my next post! Follow me @penguinpablo}

cryptocurrency bitcoin blockchain news crypto

7 years ago by penguinpablo (75)

$68.08

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!

Sort Order:

Trending

[-]

riseofth (62) · 7 years ago (edited)

In this red debacle STEEM fell to $2.77 at CoinMarketCap average. I would like to see if it remains as ATL (At The Low) for 2018 and onward, then I would say, it was the biggest debacle in Crypto/STEEM in 2018. Finger-crossed, we may start a new bull run from now, STEEM is back to $4 :)

$2.13

3 votes

[-]

ryan313 (57) · 7 years ago

I believe longterm STEEM RIVALS FACEBOOK ... in MARKETCAP $500,000,000,000

$0.47

1 vote

[-]

brandonp (63) · 7 years ago

It's a damn Crypto-Red-Wedding!

But in all seriousness for everyone that is in a panic and going crazy about the price of Steem, I recommend switching to the "month-to-date" view and you will see that Steem is actually still up double-digits. Hard to be too upset when you see that!

$1.95

3 votes

[-]

moharkan (56) · 7 years ago

yes right red everywhere make me more and more worry about what will happen to our investment... far from that also have the confidence about it will arise soon.. @penguinpablo

$0.83

2 votes

[-]

penguinpablo (75) · 7 years ago

I don't worry. I'm hodling since 2014. It could take some time before the market comes up again. Patience is key!

These sell-offs seem to happen each year in mid-Januari. See my message from yesterday: https://steemit.com/bitcoin/@penguinpablo/since-2015-bitcoin-s-low-of-the-year-was-always-in-mid-january

$0.00

[-]

moharkan (56) · 7 years ago

i really want to invest more just working on it 😉

$0.00

1 vote

[-]

ozoo (44) · 7 years ago

I enjoyed your post! I have my own method to remain calm and not FUD:
https://steemit.com/meme/@ozoo/no-reason-to-panic

$0.73

1 vote

[-]

ryan313 (57) · 7 years ago

I have been focusing on TA only not reading any news AT ALL! But whenever the market tanks I close the computer 💻 TOO HODL ...NO TRADE ALERT!!! I start to read news flow in crypto mostly for the EXCITEMENT and boy by just clicking your one post I can see the news flow is STRONG AND FAST! Glad I just trade the charts not the news😳! Thanks again for compiling information on a subject into one doc!!! Love VISUALS

$0.48

1 vote

[-]

heymattsokol (68) · 7 years ago

It's crazy times, but I'm just gonna up my fiat earnings and buy in for some more holdings while prices are low. Like they always say, it's a clearance sale on crypto.

$0.35

3 votes

[-]

techwizardry (65) · 7 years ago

Buying this crash can prove to be very wise.

There are some solid projects out there with solid fundamentals. However, what scares me is that pop in the stock market bubble may have a very sizable impact on the crypto markets. A lot of investors are under the impression that bitcoin/ether is a hedge to turmoil in the legacy financial system, but I believe that notion to be quite false.

$2.45

2 votes

[-]

rewardpoolrape (62) · 7 years ago

You're so nice for commenting on this post. For that, I gave you a vote!

$0.27

1 vote

[-]

ka82 (43) · 7 years ago (edited)

The first Bitcoin futures contract settlement was on Jan 17th...Now that wolfs cashed their profit we should expect the price to recovers

https://steemit.com/bitcoin/@ka82/the-first-bitcoin-futures-settlement-coincide-with-bitcoin-going-under-usd10-000

$0.24

1 vote

[-]

jac4b (46) · 7 years ago

Damn! Wish i had more money to put in now!!!

$0.15

1 vote

[-]

smalltyme (29) · 7 years ago

You and a few of my friends. If you weren't blessed like me to sell the night before the drop as I wrote in The Beginning of the Correction? then just keep what you have and don't sell. Since you don't have cash laying around, now is the time to tell others who do to buy in. The very same charts in the first post are now showing that things have settled and as a result, I am fully back in the market. The ones who are truly interested will see reason and buy now that the correction is done.

$0.00

[-]

eirsanctum (27) · 7 years ago

great day for buying! loving these discounts!

$0.07

1 vote

[-]

blow (1) · 7 years ago

Good analisys

$0.03

1 vote

[-]

ododah (53) · 7 years ago

This really calls for alarm, and this time unlike the last panic in September ....and personally I'm just looking at the market and following up on the market update..

Like you said @penguinpablo... It's red everywhere.
But I decide to take advantage of the times..

$0.03

1 vote

[-]

kevmcc (68) · 7 years ago

Some good news, but the charts are grim.

$0.00

1 vote

[-]

triptybarsha (53) · 7 years ago

Very..... nice news my friend, i like this post. i want your next post for sharing us, all the best my dear friend

$0.00

1 vote

[-]

karmashine (51) · 7 years ago

So much to read and learn. Thank you for this plethora of info to dive into. Resteemed so I can read during lunch and take it all in :) Awesomeness!!

$0.00

[-]

mejustandrew (58) · 7 years ago

Wooow, I have never seen the daily charts so re!. Even tether is going down a bit, money are going out of crypto these days!

$0.00

[-]

mdraihanhkn (47) · 7 years ago

Looks amazing man your post very nice I like it
Thank you for sharing bro so please vote later 👏👍👆

$0.00

[-]

lukebrn (58) · 7 years ago

Thanks for all of the updates. I'm hodling my cryptocurrencies so I'm not worried at all about the current market status. I am interested in how negative news has much more of an effect than positive news (i.e. the world's 4th largest bank announcing an exchange - controversial but overall quite positive).

I wonder if there is a correlation coefficient for how the different types of news affects the overall market trend, I might do one myself.

$0.00

[-]

darkerhorse (53) · 7 years ago

bitcoin has gone under $10k mark and thats worrisome, now the people that said its a bublle will say they were right

$0.00

[-]

okkiedot (62) · 7 years ago

We had a couple so-called bubbles with BTC...it recovered and passed it's ATH every time.

$0.26

1 vote

[-]

rewardpoolrape (62) · 7 years ago

You're so nice for commenting on this post. For that, I gave you a vote!

$0.26

1 vote

[-]

mashwanii (51) · 7 years ago

another volatile day maybe but not a bad day. nothing wrong with a little healthy consolidation and correction, the bounce will be epic.

$0.00

[-]

wowearth (39) · 7 years ago

Its ok it will reflect green as soon as possible.

$0.00

[-]

umar97 (61) · 7 years ago

Memang penuh dengan merah, tetapi saya yakin hijau akan selalu menghisai layar

$0.00

[-]

masscollective (49) · 7 years ago

I hope everyone has their buying power saved up!

Fire 🔥 sale

$0.00

[-]

fortunee (53) · 7 years ago

I do not worry about prices going down as I invested years go and paid very little compare with current prices, but it's bad for those who invested not long ago.

$0.00

[-]

morticon124 (30) · 7 years ago

Hello.I present you my method of earning free crypto:)

Ok so here is my method.I use it and i got good results and i would like to share it with you.

Here are the steps.

1)Make a Coinpot wallet here: https://coinpot.co/

Wy a coinpot wallet? Because it lets you withdraw instantly from the faucets i will be presenting you.On other faucets you need to gain a quantity of cryptocurrency to withdraw.Here you withdraw each 5 minutes DIRECTLY to your wallet.

2)After you have made your wallet with your mail adress you sign up with that mail adress to the websites below.It will sync it with your coinpot wallet so you can withdraw instantly.

1)http://moondash.co.in/?ref=DC57793D5521
2)http://moonliteco.in/?ref=90d465ed45e5
3)http://moondoge.co.in/?ref=816464840b16
4)http://moonbit.co.in/?ref=faa7e72287a6
5)http://bitfun.co/?ref=6017BBA5AB53
6)http://bonusbitcoin.co/?ref=D80270C9BDBC
There are 6 faucets.Each you can claim at 5 minutes.If you do this everyday you would be surprised how many coins you would get

If i helped you leave and upvote and follow my channel.I follow back:)

$0.00

[-]

mohsin01 (60) · 7 years ago

What a massacre today, as cryptocurrency market

$0.00

[-]

goel.tarun (52) · 7 years ago

Crazy times.

I doubt if this is because of Chinese New Year as many here on Steemit are claiming. Markets, even if that's a relatively new market like crypto, don't follow a set pattern on a YOY basis.

This is certainly fear of regulations which is forcing bigwigs to dump their share and wait from the sidelines to jump in again.

Though a good time for those willing to take risk who missed the bus last year.

My heart goes out for those who jumped in when prices were too high.

$0.00

[-]

cryptonewslife (63) · 7 years ago

Bitcoin was created by a smart man to separate the fools from their money.

$0.00

[-]

princeparvej (41) · 7 years ago

nice post

$0.00

[-]

claudiaz (58) · 7 years ago

there will be many up and down trends as regulators are scrambling to try and curb cryptos because they need to extract that last tax dollar out of pockets. But I dont believe anyone should panic about this, and in time things will become more stable.

$0.00

[-]

atherz (51) · 7 years ago

So much drama going on in the space, even though I can't really see why people would trade out of cryptos. Anyone that knows fiat knows that fiat's days are shortening.