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Here’s What’s Really Happening In The Bitcoin (BTC) Markets Right Now

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Bitcoin Recovery

It’s fair to say that action over the first few days of this week in the cryptocurrency markets has been a bloodbath. Prices of all of the major coins declined by 50% or more in some cases and sentiment took a steep in the wake of the dip.

On Thursday, however, price is starting to recover. We’re seeing double-digit gains across the majority of the top twenty coins by market capitalization and sentiment, to a degree, is easing somewhat.

But the question on everyone’s lips is, what’s next?

And specifically, as relates to Bitcoin (BTC), is this the start of a longer-term bubble bursting scenario (as the mainstream media is suggesting) or are we seeing nothing more than a correction against the longer term trend and, in turn, does today’s action represent a bottoming out of said correction?

Let’s try and answer these questions.

On December 17, 2017, BTC reached highs in and around $19,800 a coin. By December 22, this had dipped to around $13,200 a piece – a dip of almost exactly one third in market capitalization across the five-day period.

BTC Daily Chart

BTC Daily Chart

At lows on Wednesday, January 17, BTC broke through the $10,000 floor to post lows at $9,650. These lows are around 25% off the above mentioned $13,200 price, and represent a more than 50% dip from all-time highs.

In a traditional equities environment, this sort of decline would be tough to see as anything but an outright collapse. This is cryptocurrency, however, and anyone that’s held bitcoin for more than a year or so will be all too familiar with these sorts of dips. Price fell more than 33% back at the start of September last year. BTC dipped 25% back in May, 2017. Again, a 25% dip came back in June 2016. A 35% dip took place at the start of January, 2017. At the end of 2013, price fell from $1131 to around $550. That’s a dip almost exactly the same size as the one we’ve just seen.

The key point here is that this sort of correction is nothing new in the bitcoin space. The only difference this time around is that more people are talking about it because major news outlets now feature the crypto ecosystem as part of their daily coverage.

When you get this sort of increased coverage, it increases participation and, in turn, amplifies the severity of any corrective activity. People who got in late last year see price decline, see Bloomberg report that the bitcoin bubble is bursting and sell out. This panic selling compounds the bearish action and tacks another 10-20% onto any fundamentally driven decline.

When you look at it this way, then, things aren’t even as bad as they have been on numerous occasions across the last two years.

So what’s a holder to do?

There’s really only one answer to this – keep holding.

You don’t need to be Warren Buffett to recognize that selling out now is an emotionally driven, reckless move. Sure you’ll be cutting losses if this coin goes to zero, but it’s not going to zero. Chances are what we are seeing right now is the bottom of a long overdue correction and, in turn, a period that just needs to be weathered by crypto holders.

To go back to Buffett, he’s a firm believer that you should be greedy when others are fearful and, vice versa, fearful when others are greedy. The crypto market, and especially as relates to bitcoin, just went from greedy to fearful. If Buffett were a crypto investor (which, as he’s pointed out on numerous occasions, he’s not), he’d be buying up as many cheap coins as his exchange limits would allow him right now.

We will be updating our subscribers as soon as we know more. For the latest on BTC, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.


Image courtesy of GlobalCoinReprt archives/Flickr

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ONGX – Tokenized Ownership of Pharmaceutical Facility Listed on HOBIT.io

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OncoGenerix.io and OGInvest Limited have announced that the ONGX Token will be tradable via the Hobit.io exchange. The ONGX Tokens are built on the ERC20 blockchain protocol, serve as a SAFE (which stands for “simple agreement for future equity”), and will be exchangeable at the option of the investor for equity-token securities.  The ONGX Token offering is a first-of-its-kind digital investment opportunity, the company stated, as it offers tokenized ownership of a pharmaceuticals manufacturing facility. Through ONGX Tokens investors have an opportunity that is typically available only to industry insiders and large investment firms, the company stressed. 

“We are excited to see OncoGenerix.io work with Hobit.io, as we believe it is a strong ecosystem to provide ONGX investors with potential liquidity. We believe ONGX is the pharma industry’s largest digital offering to date, as measured by target investment size, underlying valuation, and production capacity of the asset. The ONGX Token brings pharma production investments to a much larger audience and democratizes the pharma investment opportunity,” said the president of Hobit.io Mr. K. Holtser.

Hobit

The OncoGenerix project anticipates to benefit from a combination of the OncoGenerix plant’s strategic location, favorable valuations of pharma manufacturers, and continued global pharma market growth. As a novel and generics pharma producer, OncoGenerix specializes in injectable…

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Business incubator GDA Ventures acquires first client MobileGo, introduces MGO Token for blockchain gaming

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GDA Ventures, a business incubator backed by the GDA Group of companies, has  announced its first client – blockcain gaming platform MobileGo (MGO). The MobileGo project was initially launched in 2016 and focused on gaming, with significant closed partnerships including Unity and Xsolla, the gaming industries leading game engine and one of the most utilized payment processing providers. 

GDA Ventures 

Similar to many early blockchain projects, MGO built a significant community and blockchain offering while securing partnerships with top companies in the industry. The 2018 market crash combined with failed deliverables from various signed partners slowed the project down. Now, as crypto sees a revitalization, MobileGo has engaged GDA Ventures to restructure and revive the MGO project, the two companies announced.

“This is a huge step forward that will continue to bring innovation and originality to the blockchain gaming ecosystem; benefiting developers, gamers and everyone in between. We are very excited to work with GDA Ventures as their experience with venture incubation and development will help take MGO to the original heights set out in 2016, becoming an industry pioneer that bridges the gap between gaming and blockchain,” the MobileGo team announced in a statement.

MGO co-founders were some of the first to recognize that peer-to-peer gaming and unique…

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SyncFab Boosts Aerospace Division While Strengthening MFG Token Utility

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Manufacturing blockchain company SyncFab has been selected as an official showcase solution finalist for the United States Air Force AFWERX program, the company announced this week. AFWERX is a community of innovators devoted to creating a faster and smarter US Air Force. SyncFab showcased its technology enabling agile manufacturing and reverse engineering of mission-critical component parts. 

SyncFab MFG Token

Additionally, Jason Smith, a veteran in the aerospace industry, joined the SyncFab team recently.  Smith possesses a tremendous knowledge of the industry, having worked with L3 Vertex Aerospace, the United States Air Force, commercial airlines, and government agencies to uncover business opportunities for engineering, maintenance, and repair services. 

SyncFab’s advisory board has also welcomed Urs Breitmeirer, former group CEO RUAG Swiss Aerospace Defense CO to boost the blockchain adoption strategy. 67% of space and aerospace executives anticipate the combination of blockchain distributed ledger technology, AI, XR, and quantum computing will have a transformational impact on their organization as reported by Accenture. With thousands of suppliers responsible for delivering advanced and innovative components or materials to Tier 1 suppliers and OEMs, supply chain and logistics have long been critical to the success of every major aerospace and defense program, SyncFab team stated.

This substantial reinforcement of the core team at SyncFab is expected to help boost the aerospace industry…

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