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Ethereum losses 7 percent of its value in hours during a market crash: Is it time to buy?

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Ethereum
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The last 24 hours have seen most of the crypto coins perform terribly with the overall market recording a staggering loss of over $17 billion. The bears in the market have practically been having a festival as prices in the market declined by an estimated 10 percent.

The low market performance has, in fact, hit historic lows with analysts predicting Bitcoin’s price to possibly go even lower to the $4,000 to $5,000 range. Apart from the top coins, some other altcoins that have taken the hit include EOS and Cardano. Ethereum has shed over 7 percent of its value to change hands at $472 according to data from CoinMarketCap as of this writing.

What’s brought about the flash sale?

To explain the recent market crash, most reports indicate that the bear cycle that has been trending in the market since highs of January this year is initiating a corrective rally. Just a few days ago, the crypto market was stable with little volatility. However, with news of Bithumb getting hacked, not to mention the regulatory uncertainty in Japan and South Korea, traders seem to have pulled out of the market due to panic.

In fact, Bitcoin and Ethereum have led the decline with an unexpected decrease amid news of exchanges getting attacked and regulators issuing administrative penalties to various exchange platforms.   As of now, a considerable number of Bitcoin and Ethereum whales are selling off coins fast.

One of the events that might have triggered the massive sell-off is the hack on Bithumb that saw the crypto firm lose over $30 million in crypto. Bithumb is one of the biggest crypto exchanges in South Korea yet the attack on its platform only saw a mild market reaction when it happened. Since the hack, Bithumb moved quickly to not only confirm the attack but to also declare to reimburse all affected traders and investors.

Another possible cause for the sell-off could be the panic of investors after exchange platforms in Japan were hit with a new set of requirements for exchanges to improve their anti-money laundering practices. As a result of Japan’s Financial Service Agency (FSA), has led BitFlyer (one of Japans largest exchange) to suspend account creation of new users at the moment.

How has Ethereum faired on

Well, even with a dip in the market and its price falling by more than 10 percent, Ethereum has actually indicated some neutral zones. According to analysts, the fact that its relative strength index (RSI) sits at 40.5 means that it’s a good signal for those who are looking to buy the dip. After all, Blockchain experts like Spencer Bogart are predicting an impending bull run. According to Bogart, it’s a good idea to sell most of the altcoins but hold on to Ethereum while buying more Bitcoin.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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