Crypto Meltdown Continues...
Crypto prices are still in free fall and there seems to be no bottom.
Bitcoin is currently trading below $4500, which is the lowest point since October 2017.
Are investors spooked by the illegal ICO's we've seen recently?
Is it the decline in crypto equipment sales that can indicate the interest in crypto is fading?
Maybe a result of the Bitcoin Cash fork?
Or were the cynics right all along, and is this the long awaited pop of the crypto bubble?
Experts say the biggest threat now is that long-term holders will start selling to cut their loss, which would bring the prices down even more.
Let me know what you think!
#share2steem #crypto #cryptocurrency #bitcoin #news #cryptocurrencynews #blockchain #steem #btc #altcoins #bearmarket #bitcoins #instanews #trading #blockchainnews
simplymikeonsteemit
Apparently back during the 19K bull run some people on bitfinex were manipulating the price of BTC while using Tether.. if that is true or not who knows but very possible!
Manipulation of the market would be nothing new. If a group of big owners sell alltogether, the price drops, so they can get in cheap again. It wouldn't surprise me if that would be one of the main factors
Posted using Partiko Android
Hi @simplymike!
Your post was upvoted by @steem-ua, new Steem dApp, using UserAuthority for algorithmic post curation!
Your UA account score is currently 4.652 which ranks you at #1604 across all Steem accounts.
Your rank has improved 2 places in the last three days (old rank 1606).
In our last Algorithmic Curation Round, consisting of 276 contributions, your post is ranked at #59.
Evaluation of your UA score:
Feel free to join our @steem-ua Discord server
Congratulations @simplymike! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :
Click here to view your Board of Honor
If you no longer want to receive notifications, reply to this comment with the word
STOPDo not miss the last post from @steemitboard:
Could be that “the big guns” are spreading fud to drop the market so they can get in at rock bottom prices?? Or all of crypto is losing its value lol personally I’m watching it like a hawk and ready to buy when it seems we’ve found a bottom. .10 would be an excellent time to buy in and who knows, maybe we’ll make it there!!
I think there's a big chance that scenario could be true. Manipulation by the whales is nothing new...
Posted using Partiko Android
Hola @simplymike! pase a saludarte, me gusta tu nuevo perfil. Hay que esperar, no es momento de vender. cuidate cariños y besos.
Thanks, I like it too. And you zre right it's definitely not the right time to sell.\n\nI was wondering: do you understand English, or do you have to use a translator? If you do have to use a translator, it might be a better idea to reply to.your comments in Dutch, which is my native language. My English isn't always correct, my Dutch would be, which would make it easier to translate, I assume
Posted using Partiko Android
No hablo ingles, uso el traductor Google siempre, un abrazo cariñoso.
Nice new profilepicture!
Thanks :0)
I think that the bch civil war is pretty self contained, unless SV wins and carries through with the threat to attack every other chain out of existence...
IMF head suggesting that governments should issue national first crypto is possible problem, and the crackdown on icos is really a problem (although, probably something that needs to be done!).
On Bitmex derivatives, long (betting on price rises) positions were getting liquidated heavily. That means that they didn't have the existing collateral to back up their leveraged positions... This led to a huge amount to force sells.
Lots of little things combining... Oh well, we ride it out! The money is locked away for me anyway, and I am not expecting anything out of it! So there it stays!
Interestingly enough, XRP is performing quite decently...
XRP was the first coin I purchased with fiat. I still have what I bought sitting in my Binance account. Too bad I bought at $2 ++ .... FOMO was strong :P
I know all about FOMO. I started with BTC. When it was worth 20x what I had paid for it, I should have cashed out. Instead, i went crypto-shopping, buying other promising coins. I think I have about 20 different ones in.my portfolio, because I was scared to pick the wrong one, and miss out on a lot of profits. So now I,'m stuck with 16 out of 20 cryptos that have lost more than half their value. I was lucky enough I had bought BTC when it was still below $1000, bought a big part of my ETH for $8 and Dash for $59 or so. XRP is the fourth one that is still green. Probably just good timing...
Posted using Partiko Android
Congrats on your success. I did something similar with UCASH. I managed to attain a bunch for free and sold during the second pump and dump for $1200 + profit. Thinking I was a crypto wizz after having success on my first attempt at crypto I decided to buy a bunch of different alt coins with my newly attained wealth. I still have most of those coins today due to there low monetary worth.
Lets hope we all win with Steem and Steem-Monsters !
Ouch, well... at least it is still trading at roughly 0.4USD or something like that... that's still better than a good chunk of the altcoin universe!
I still have faith it will bounce back. I haven't kept up with the news in regards to Ripple but I know some banks are using its services. When all the dust settles I am sure that Ripple will be one of the cryptos still standing.
I think the banks are using xCurrent which doesn't require XRP. From there, Ripple is hoping to switch them over onto xRapid which is the crypto product.
I knew it was something like that but I thought XRapid is what the banks are testing and XRP is the token in which we hope they will use once they decide to fully implement XRapid. I was apart of a Ripple forum months back and the last I remember hearing was banks such as The Royal Bank was testing its services. I am almost certain that Western Union has already fully implemented XRapid but again its been months since I did any research. I decided to just leave the coin in my wallet and forget about it until it bounces back.
Link to Royal Bank results : https://www.google.ca/search?q=roya+bank+test+xripple&rlz=1C1RLNS_enCA811CA811&oq=roya+bank+test+xripple&aqs=chrome..69i57.5278j0j7&sourceid=chrome&ie=UTF-8
Dang I just did a quick search and it looks like Western Union may not be pleased with their relationship with Ripple. Back to pretending like I am not holding any lol.
Haha... I think the news and shilling tend to just say Ripple and confuse the products alot... Although, there is progress with the xRapid, but the adoption is still much much much less than xCurrent.
I'm not one of the decentralisation zealots! I'm happy to have bought and held XRP, I still think that a meld of central/decentralisation is the way to go, at least in the short-medium term. The crypto market, even at it's peak is small fish compared to the established global system. You just don't fight giants, you co-opt them and then become one!
I noticed àhat XRP was doing a lot better than the others. \n\nThe rest of your comment is too technical for me to understand, but I think I've got the main idea :0)
Posted using Partiko Android
Yeah, XRP is holding out pretty well... even now (after a bit of drop in price). It might be the dark horse that pushes on through, even though there is a lot of hate for it in the crypto community!
Is there? I'm not really up-to-date about what's going on the crypto world. I should be, because I have quite a big portfolio, but SteemIt is taking up all my time ;0)
It's certainly difficult times for many of us invested in cryptocurrencies. I am trying to cope by not looking at the price too much. At the end of the day, 1 BTC is 1 BTC and 1 STEEM remains 1 STEEM.
Noticed you changed your profile pic. Nice!
Posted using Steeve
Thanks :0)\nI try to do the same: I stay far away from my portfolio in times like these. Today was an exception. I opened my browser and was overloaded with crypto news. There was no escape possible, lol
Posted using Partiko Android
Lol.. that's true
Posted using Partiko Android
Hi, @simplymike!
You just got a 12.57% upvote from SteemPlus!
To get higher upvotes, earn more SteemPlus Points (SPP). On your Steemit wallet, check your SPP balance and click on "How to earn SPP?" to find out all the ways to earn.
If you're not using SteemPlus yet, please check our last posts in here to see the many ways in which SteemPlus can improve your Steem experience on Steemit and Busy.
Yeh, I really don't know.. my logic kind of says that it's the bubble, since since i got into crypto, it's only been going down.. but of course I hope for the opposite..! I am thinking though, that since I don't have much faith in the current ruling economic system, at some point something else will take over, and it might as well be crypto - so for that reason, I still hope we are on the right path..!
Personally, I believe that it,'s not crypto, but blockchain technology that will.make the difference. Crypto as an investment opportunity and as a way to exchange money is a treath to people and corporations that get their profits from expensive loans and money transfers. Most of them have massive power in the current economic model. I can't blame them for trying to save themselves by fighting crypto.\nBut blockchain tech has so.many possibilties they will not be able to stop it forever...
Posted using Partiko Android