Hello Steemit friends,

is it not wonderful? Now Bitcoin is accepted as official currency beside the Euro. To be more precise that means the same rules are applied in terms of sales tax. Private persons are free from sales tax if they are buying goods (just see the gross value) and entrepeneurs must take sales tax into account like with the Euro.

Notwithstanding the knightly accolade there is still a big sell-off of digital currencies respective declinie of the whole crypto market.. ok, one reason may be that Germany is just a relativiley tiny spot on our planet and so is the influence of news is quite small.

Where the bad mood comes from?

1. Binance

In deposits of some users there was something wrong, the talk has been of automatic sells and conversion to Bitcoin, assumption of a hack were articulated. Binance itself declared it was not a hack in the first step.

Binance is one of the leading crypto exchanges regarding sales volume on coinmarketcap.com. Therefore the behaviour of market participants at this exchange can move the whole market.

2. SEC

A public statement of the Security Exchange Commision (safeguards over stock trading for example in the US) sees unlawful behaviour of some cryptocurrency exchanges and is warning investors in this context which ware using these exchanges. They published a question list which causes fear and doubts among individuals but on the other hand i see it as protective measure because each of us had sometimes issues with trading platforms, following the list from the website:

• Do you trade securities on this platform? If so, is the platform registered as a national securities exchange (see our link to the list below)?
• Does the platform operate as an ATS? If so, is the ATS registered as a broker-dealer and has it filed a Form ATS with the SEC (see our link to the list below)?
• Is there information in FINRA's BrokerCheck ® about any individuals or firms operating the platform?
• How does the platform select digital assets for trading?
• Who can trade on the platform?
• What are the trading protocols?
• How are prices set on the platform?
• Are platform users treated equally?
• What are the platform's fees?
• How does the platform safeguard users' trading and personally identifying information?
• What are the platform's protections against cybersecurity threats, such as hacking or intrusions?
• What other services does the platform provide? Is the platform registered with the SEC for these services?
• Does the platform hold users' assets? If so, how are these assets safeguarded?

That are really important questions in my point of view. Everybody should ask some of them to himself before trading with bigger assets on a platform. We know exchanges growing like mushrooms currently and among them there are always some black sheeps, conscious or unconscious.

3. Google Trends

Interest for cryptocurrencies has fallen substantially. Peaks were on Dezember 17.-23. and from December 31. to January 6. Someone could say at all time high of $20,000 USD and at New Year's Eve among friends with burnt punch and in the remaining leave afterwards! 😂

What's the impact of Germany regarding search term cryptocurrencies - rank 48

But in the Top 5 with 6x - 12x more interest in other countries

It is obviously that 1. Germany has a comparable small population (which is NOT a factor in the Google evaluation) and 2. the interest (share of queries in one country relative to others, independend to population) is substantially lower compared to other regions. Germany plays a minor role in the crypto market and has small influence on the overall sentiment!

Steemit - a Light in the bad Market?

Steemit looks quite good on Google Trends in comparison to crypotcurrencies with a value of 65.

But STEEM suffers from the price decline too, but with still at a good level in my point of view.

But in these times i was even more happy about the amazing app collection by @noisy.. unbelievable! how many treasures emerge here which i was not aware of. But look by yourself at https://SteemProjects.com/ to forget the manic depressive Mr. Market..

How is the current Market Situation and how deal with it?

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