Afternoon Edition of Cryptocurrency Novice Report for January 18

Welcome to the Afternoon Edition of Cryptocurrency Novice Report for January 18, 2018.

Before we get started, I'd like to give a big shout out to all the shills who have been hawking that giant crapfest we know as Bitconnect.

Well it finally collapsed as all Ponzi schemes eventually do. I was afraid all along that if Bitconnect got too big, when it did die, it would take all cryptocurrencies down with it. While I'm sure it contributed to some of the mayhem a couple days ago, there does not appear to be any long term damage to cryptos in general.

The Report

Good news everyone! The broad market rally we woke up to today has continued throughout the day. As time goes on and the market stays strong, I think we will see continued upward movement.

Bitcoin has had a relatively calm afternoon, bouncing around between $11,500 and $12,100 and is currently up over 2% in the last 24 hours. I say "relatively calm" because it's staying within a 5% range which is fairly calm considering the 20% and more swings we've had the last few days.

Steem remains a BILLION DOLLAR COIN this afternoon, which is great news! Steem is up 3% from it's price 24 hours ago, while SBD is holding steady, up about 1.5%.

Not much to report regarding the supply of liquid Steem. We will see if there is an increase in the supply going forward which might be triggered by this rally as people rush to cash out. A reminder, the long term trend has been a reduction in the supply of liquid Steem. If it continues, it should cause the price of Steem and SBD to move up.

Please note: I am not an investment professional. The information I present here is only my opinion and a bad one at that. I don't know much about this cryptocurrency stuff, but at least I'm honest about it and not one of those jerks trying to con you into buying Bitconnect!

Until next time...

Proud member of @qurator! Click below to find out more about this fantastic Steemit community.