Last 24 hours in crypto market: XRP and Cardano pumping, Bitcoin still alive
A very interesting day. Bitcoin price is growing and has re-passed the 17000$ level.
The two token connected with payment systems, Ripple and Cardano, are pumping really hard, touching new all-time high.
Liquidity is outflowing from other altcoin (simple stabilization after last days pump I belive) and entering in part into Bitcoin. Market dominance of bitcoin is having a small rise, and it is now over 55% after having touched 53% yesterday (+2%).
Pay attention because the price rally makes bitcoin more difficult to use (see for more info https://steemit.com/bitcoin/@marculisse/in-bitcoin-rally-making-bitcoin-unusable-the-problems-of-speculative-market). You can find a review of bitcoin network situation here https://steemit.com/bitcoin/@marculisse/bitcoin-network-update-7-december-bitcoin-average-fee-is-24-dollars-bitcoin-unusable-for-payments.
Overall market cap of all crypto is surging to a new all-time-hight at 524 billion $, a huge value.
Volumes too are getting enourmous, we are over 40 bilion$ and this is creating a lot of problems to exchanges. Not only for kraken.
We have to really pay attention to this crazy period.
Don't invest more than what you can afford to loose and remember that market can crash in every moment, there is nothing sure (see here, for example, some my ideas about a possible incoming market dip https://steemit.com/bitcoin/@marculisse/is-a-great-market-colapse-incoming-an-interesting-hypothesis).
Be careful.. And have a nice day guys!
Very volatile period. These are historic times for block chains. It is uncharted waters and the instability is shown in the graphs, charts, and numbers. Certainly "Fear of Missing Out" is having an effect. A crash will come, as it always does, but how severe is yet to be determined. Stay Calm and Hold On -for dear life- HODL. Bitcoin can and should continue to grow, but slower and a tablet growth is ideal for the alt coin market to develop healthily.
Yes, volatility is very hard. Anyway, we have to consider also that 500 bilion $ of total market cap is a very small value, if compared with all financial economy. There are still a lot of growth margins for all cryptos as liquidity inflows on exchanges
Many corporations and institutions are yet to get into the blockchain revolution. Much of 2017's growth in bitcoin has been from individual investors. You are right, there is much more money that could and probably will go into the crypto markets than is already in. 500 billion is very small considering this could be world wide and revolutionary