Briggsy's Bitcoin Blog - Tuesday January 30, 2018

briggsy (64)in #bitcoin • 7 years ago (edited)

So while things may look bad today, they're actually good. The market is finally giving up on holding its' breath, and accepting reality.

Bitcoin price dipped as low as $9700 USD today, which is actually a huge dip considering the US Dollar is happily swirling down the toilet bowl like an overfed gold fish. The price has recovered above the $10,000 mark, but investors are still flirting with that psychological number as I type.

At this point in time, the orange long trend line is still holding ground even on the 4 hour chart, but who's to say whether the January sale is over yet. As the saying goes: you make you're money when you buy in. Right now the buy-in time is looking great as weak hands are being shaken by the market FUD and throwing future riches away for devaluing fiat.

Get it while it's red hot!

Please remember that I am not giving financial advice and this is just my opinion. What I strongly advise is to get your information from multiple sources to get a broader perspective on the markets, but ultimately you need to developer your own intuition as well, so that you can feel confident in your market position. What I say and feel are not based on reality, and you take full responsibility for your financial decisions.

Today's Crytocurrency Marketshare:

76.47% - Top Ten
42.65% - Top Ten (excluding Bitcoin)
33.82% - Bitcoin
23.53% - Other
0.291% - Steem

The total Cryptocurrency market cap today was $503,152,000,000. Steem Marketcap Today was $1,462,650,000, or 0.291% of total. This is great news for Steem as the previous chart shows that most other altcoins are taking a beating from the top ten and losing ground, while steem still marches forward through the bloodbath like a self-healing tank.

Today Bitcoin's Price hit a high of $11,307, a low of $10,036 and an average of $10,672 before closing.
chart (2).png

Today Bitcoin's Market Cap was $190,339,000,000 US Dollars.
chart (3).png

Today Bitcoin exchange trading totaled a volume of $8,637,860,000 US Dollars.
chart (4).png

The average Bitcoin transaction fee was $7.31 US Dollars per transaction today.
chart (5).png

The average number of new transactions being added every second to Bitcoin's mempool was 2.656 today.
chart (6).png

The percentage of Bitcoin transactions using Segwit addresses peaked at 15.75% today.
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There were 229,443 new Bitcoin transactions added to the mempool today.
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The average block contained 1.00 Megabytes of transaction data today.
chart (9).png

Today there were 20,735 new transactions left unconfirmed by end of day. As per blockchain.info there were still ~44,000 total unconfirmed transactions awaiting confirmation in the mempool by end of day, with ~23,000 of those being stale transactions that may be stuck in the mempool.
chart (10).png

Article Spotlight: Bitfinex and Tether Hit by Subpoena from U.S. Regulators

It's somewhat funny that this news comes out 2 days after the previous Tether FUD started circulating. You might almost say that the market was "tipped off" before this particularly bad bit of news came out.

While personally I am still somewhat neutral on the whole Tether situation, mostly because I have a tendency of cashing out in Canadian Dollars and not USD, I can understand the growing concern in the crypto community about Tether, especially when there is no evidence to suggest Tether is a cryptocurrency that is in it for the long haul.

I believe it's no coincidence that Friedman LLP (3rd party auditors) have parted ways with Bitfinex and Tether, which caused a very large cloud of confusion and Fear in the cryptospace two days ago, and then now two days later we hear that Bitfinex and Tether (two sides of the same coin, no pun intended) were delivered a subpeona on December 6 2017 from the CFTC in regards to Tether.

When you live in a fully connected world, no secret remains hidden forever when money and reputation is at stake. Who wants to bet Friedman LLP were the leakers of today's news? I know I would be if it meant escaping from the inevitable media circus that Bitfinex/Tether will bring on itself eventually.

Video Spotlight

Decentralized TV - Deutsche Bank Reveals Its Hand, says "Crypto is Forever!" - Buy More Bitcoin!

Crypto Bobby - Tether FUD - Does it actually matter? Both sides discussed (keep in mind he is not taking into account the Billions of dollars invested in Mining Crypto)

Video Spotlight

Doug Polk Crypto - We Need To Talk About Tether And Bitfinex

if you want to be more proactive in this community, try using steemfollower (sign in is done through steemconnect using your steemit name and your private posting key - found in your wallet under permissions). This Video will explain how the program works. It is a great way to motivate you to produce great content, and to reward others for producing great content.

Tip Jars:

Dogecoin DDizpbLrYzFNEZtEVvUXo8kKBKu3K7yLry
Bitcoin 32p67yperYxM8dEFXESL3oeBcEn4qP32cQ
Ethereum 0x54c0387Fd48Dc8D48D30069be2e18756b8d203A5
ETC 0x067511c327Bc68b73726F4410fEAdb47ed396425
Ubiq 0x3EDb86c57f7f495aE0963855Cc37BA64B40C7685

As always; good luck, good wealth and good health to everyone on Steemit. Stay positive towards others and help the community grow. Thank you for reading and sharing. Comments are always welcome.

#blog #cryptocurrency #crypto #money

7 years ago in #bitcoin by briggsy (64)

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nzfxtrader (52) 7 years ago

Excellent post that covers a lot of details. There is so much going on in the crypto scene it's hard to keep up.

I have some headlines over on my latest post: https://steemit.com/bitcoin/@nzfxtrader/hot-off-the-press-cryptonews

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frantik (36) 7 years ago

thanks for the post, a friend I always like your messages, Thank you,

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leoumesh (67) 7 years ago

Bitcoin's price will stabilize and gain momentum when the government crackdown stops and it will show an upward increase and Bitcoin will make it past the $20,000 mark. This is not the first time bitcoins have behaved that way. It has been seen this happens several times that before a major price change, bitcoins often dips down before it take off. Let's hope during this year we can see some wonders.

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