Slow start of 2018.
2018 has started slow for the crypto currencies. Whereas 2017 was an all time high, today the market is dominated by fear. Fear of regulations and bans, the uncertainty of what governments and banks have in store for us.
And while positive news is still coming through, sentiment is getting the better of us.
One currency that seems more affected than others is Ripple. Lot’s of great news last week but the price doesn’t show it.
The ‘downfall’ of Ripple started after coinbase announced they would not list any new currencies in the near future followed by coinmarketcap not taking the Korean exchanges into their price calculations. Although their reasoning for ignoring the Korean market is a valid one, prices where much higher than other exchanges, I cannot help noticing that Ripple has taken the most slack from this action.
Ripple’s market cap diminished by half overnight! Something I haven’t seen for other currencies.
ripple has been hit hard I was watching a stream and we all see the market cap drop billions instantly I agree with the fear is really making people SCARE SELL when really this game is about either learning the trade or holding I guess it just depends on what kind of investor you take up when trading
I feel ripple has taken a huge beaten too there is too much FUD!!
Nice post thank you for the insight
Thx! one thing is for sure, the more FUD on Ripple, the more it means Ripple is a great coin. No FUD is being spread about shitcoins!
I feel the market will rise again next week as the wall street bonuses will be paid coming Monday.
I guess its because the banks own ripple that could have something to do with the FUD it may rise but how many billons just moved from ripple probably back to bitcoin is crazy manipulation!
Yeah I think crypto diehards are pissed off with Ripple because it is not decentralized and the fact that banks are going to use it. (after all banks are criminal entities creating money out of thin air through fractional reserve banking and asking interest) however once people find out they can also pay directly with Ripple (or any other crypto) why would we keep using banks? Banks these days are scared shitless coz they see all the saving money disappear into crypto's. If you consider that it only takes 5% of the customers taking away their money before a bank collapse you can see why there are afraid.
I think also a big reason is that everywhere they started posting about the owner that has 60% of the tokens for himself. I think that scared the people a bit, but also as you said the other 2 reasons also add to it
I would say that counts for all crypto's the bulk is in the hands of the ones that created it. Besides Ripple is not just a new kid on the block, It is the only 'crypto' that will be fully in use soon by the most powerful entities on the planet. Also don't forget that a billion will be pumped into the marketcap each month.
Your Post Has Been Featured on @Resteemable!
Feature any Steemit post using resteemit.com!
How It Works:
1. Take Any Steemit URL
2. Erase
https://3. Type
reGet Featured Instantly – Featured Posts are voted every 2.4hrs
Join the Curation Team Here