12/23/17 Market Review 2018-04-28T19:40:44+00:00

12/23/17 Market Review

Project Description

A collection of notes about what happened over the last three days in the crypto and ICO world. I find it useful for anyone wanting to keep its finger on the market’s pulse December market review.

This document is intended for informational purposes only. The views expressed in this document are not, and should not be construed as, investment advice or recommendations.

Wednesday

Roger Ver was a guest on CNBC where he did what amounted to a 7min pitch for BCH and announced that it would implement Lightening

Thursday

KMD, the privacy centric crypto gained 129% after completing the first atomic swap with BCH. One more step towards total decentralization!

EtherDelta, known for being an early adopter of many alt-coins, suspended service after suspecting its servers to be compromised.

An a similar note, South Korea Youbit filed for bankruptcy after being hacked and stolen a fifth of its currencies.

Goldman announced that it was building a crypto trading desk.

Friday

All crypto-assets were in the red. Aggregated market cap dropped 30%. A nice holiday sale for those contemplating to buy some more.
Was the drop initiated by some funds locking in gains at year’s end? By some individuals locking in capital gains before a change in taxe regimen?
The army of new investors coming in during the latest bull run had never lived a correction which might explain the panic we experienced in the market.
It’s good to remember that between 1999 and 2001 Amazon’s stock went from $106 to $6.97. That’s a 94% drop. Meanwhile, Bitcoin’s drop was its 5th 30%+ correction this year, which all followed massive price spikes. Patterns point to a healthy correction.

Saturday

Markets are back in the green. XVG keeps growing as does Digibyte after a John McAfee shoutout this morning. Things seem to quiet down right before the holidays as we near the $600bn market cap again.

Happy holidays!

#BCH #XVG #Altcoins #Cryptocurrencies

December Market Review

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This document is intended for informational purposes only. The views expressed in this document are not, and should not be construed as, investment advice or recommendations.

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