The much touted crash of Bitcoin deserves a bit of perspective. We have compiled a list of some of the most popular cryptocurrencies including several altcoins which we are invested in. The altcoins tend to follow Bitcoin which means the recent crash of Bitcoin has also caused many of the altcoins to crash.
Below you can see the current price of each coin followed by the historical price of each coin from 1 year ago.
At the time of this printing, the gains made by these coins even with the recent crash are quite impressive. If we were talking about the stock market these kind of gains would be almost unheard of.
The historical chart for Bitshares is from the spring because the coin was worth less than 1 cent as of a year ago. The current prices are from a live feed, so it will be interesting to see how these coins fare in a few weeks.
Many traders blamed futures trading for the drastic drop in the price of Bitcoin. Futures trading platforms account for a huge portion of the exchange’s volume. These exchanges include Bitmex, Binance Futures and FTX.
During volatile financial times, traders who use borrowed capital to trade in Bitcoin futures may be forced to place large sell orders to cover.
I’m not sure that any technical analysis could have predicted what has happened during the past week, but if you ever wanted to buy low, this could be your chance!
We’ve always heard the crypto battle cry “I’m in it for the technology” during the volatile times of crypto. Today is one of those days that you need to be in it for the technology. We may be seeing the best buying opportunity we will ever see.
The price of Steem went up over 3% as most currencies remain in the red. Considering all of the drama surrounding Steem during the past week, I found the price increase encouraging. Many altcoins were down as much as 10% as Bitcoin prices continue to fall.
Coinbase announces user friendly wallet addresses. We have all had that moment when you wonder if you entered the Wallet address correctly as you transfer Bitcoin from one wallet to another. The sinking feeling as you realize you may have left off a few digits of a wallet address is not a pleasant experience.
Coinbase hopes to alleviate some of that anxiety by allowing dedicated user names to serve as a wallet address. Coinbase users will be able to transfer currency to other Coinbase users by sending to a user name instead of a full length wallet address.
The user name feature will be available for all currencies supported on the Coinbase platform. Some of those currencies include Bitcoin, Bitcoin Cash, Litecoin, Ethereum, and Ripple. Coinbase will also offer a security feature which will allow users to keep their username private and unsearchable which will help prevent fraud.
Lolli Co-Founder & CEO, Alex Adelman, explains the benefits of the new Lolli Bitcoin cashback program. You may easily add the Lolli Chrome extension to your browser and earn Bitcoin with any purchases made through Lolli.
The founder of Lolli tells the story of going to the bank as a boy with his father and enjoying the free lollipops the bank gave away to bank customers, hence the name Lolli for the cash back program.
Get Bitcoin Back on All Purchases
The amount of the discount varies from store to store but most stores offer at least 3% back in Bitcoin. Some of the stores offer as much as 27% back in Bitcoin. Groupon is one of the stores mentioned which is all the more interesting because most Groupon offers are already offering savings and this enables you to get Bitcoin back as well.
We are seeing more programs like this and I think that is a good thing. Anything that gets Bitcoin and altcoins into the hands of new users is a positive for the crypto community as a whole.
Justin Sun paid millions of dollars for lunch with Warren Buffet. The lunch date allows him to bring seven guests. Sun talks about promoting blockchain technology to the outspoken crypto skeptic, Warren Buffet.
The possibility of converting Buffet to a Bitcoin enthusiast seems unlikely, but Sun’s appearance on CNBC is likely to reach potential investors who might otherwise never even consider investing in Bitcoin or other cryptocurrencies. I like to see this kind of interaction with the traditional investment world. I think it will take some time, but as more companies discover and invest in blockchain, I think the interest in cryptocurrency will increase.
Twitter and YouTube are suddenly full of Bitcoin investors excitedly talking about “The Golden Cross”. If you are wondering what all of the excitement is about, we will try to explain. In simple terms, the term “Golden Cross” when describing Bitcoin is when the Bitcoin/ US dollar 50 day moving average rises and crosses over the 200 day moving average of Bitcoin.
Investors are watching this closely because the last “Golden Cross” saw a jump of almost 200% in Bitcoin price over a period of just 2 months. The “Golden Cross”, however does not always result in price gains. You will also see reference to the “Death Cross” which is the opposite of the “Golden Cross”.
Virgin Galactic is one of the leaders in Space Exploration and Travel. The brainchild of Richard Branson, Virgin Galactic has enjoyed increased media attention as the stock skyrockets.
Branson has announced that future space travel may be paid for with Bitcoin. The well known entrepreneur admits to investing in Bitcoin years ago. The Virgin Galactic Stock has increased in value almost 300% during the past 90 days. Perhaps space travel is the last frontier or maybe that better describes Bitcoin.
Steem price jumped over 13% during the past 24 hours. The price of Steem rose to over 22 cents. The market overall enjoyed a bullish streak. EOS was up over 8%. Bitcoin broke the $10,000 barrier with a rise of over 4%. Cardano is also up over 4%. BAT which is used in the Brave Browser enjoyed an increase of over 14% reaching a price of over 29 cents.