Another theory has been postulated by CCN.com with regards to the current loss of over $50 Billion in market capitalization in the entire crypto market. Less than 24 hours ago, the total market cap was sitting comfortably at levels of $440 Billion but now that figure has dropped to levels of $389 Billion at the moment of writing this. This has in-turn affected all the values of the coins and tokens in the markets with the top coins not being immune to the dip. Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Tron (TRX) and other top coins have been affected with most showing decreased price values of between 7% to 25% in the last 24 hours.
With regards to the Mt. Gox possible dump of over 8,200 BTC as reported by CCN.com, there are four alleged wallets of the Mt. Gox trustee that have moved around 2,000 BTC each. They have sent over 8,000 BTC in total in the past 24 hours. The Mt. Gox trustee had been ordered by Japanese authorities to sell off over 200,000 BTC and convert to Japanese Yen in a bid to reimburse creditors. This means that if the transactions are confirmed, the BTC funds are most likely being sold on cryptocurrency exchanges.
Back in March, another selloff was orchestrated by Mt. Gox as they set out to reimburse the same Mt. Gox’s creditors. Being the trustee, Noboaki Kobayashi had this to say about the sell-off back in March:
“I made efforts to sell BTC and BCC at as high a price as possible in light of the market price of BTC and BCC at the timing of the sale. I plan to consult with the court and determine further sale of BTC and BCC”
When you add the Upbit news of South Korean officials raiding their headquarters and taking away books and hard-drives for audit purposes, you get the feeling that today was perhaps a not so good day in the Crypto-verse. The exchange is being accused of actually trading without having the actual cryptocurrencies at hand. Everything has been doctored and traders are not aware. What the exchange has been accused of doing, is carrying out fake balance sheets to deceive traders and investors.
Many traders have probably withdrawn their funds from the exchange in a panic causing the current market dip.
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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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Reasons Why 2019 May Be A Great Year For Crypto
The new year was always considered to be a time of new beginnings, where people can reflect on the past and learn from their mistakes in order to be better in the future. The same is true for the world of crypto, and investors around the world are hoping for 2019 to be better, more profitable, and to have more success than 2018.
The hope for the future is even more important when we consider all the negative development in 2018. There were numerous high-profile hacking attacks, two market crashes, with a strong bear market in between. Not to mention that some of the biggest projects that may have brightened the year a bit ended up being delayed.
With that in mind, it is understandable why investors are looking forward to the new year and all the potential development that it may bring. In fact, there are several reasons why they should be excited about 2019.
1) Bearish market to loosen its grip
The first reason why 2019 can be a good year digital currencies is that it may finally break free of the bearish grip that has been felt ever since last January. Following the first market crash, the bears settled in, and the prices kept falling for an entire year. The market attempted to shake off the negativity on several occasions, with the biggest one being…
3 Coins with the Largest Potential in 2019
2018 has been a pretty bad year for digital coins, and after the initial market crash that occurred a year ago, everyone was expecting a bull run that will fix things. Obviously, it never arrived, and instead of that, all that crypto market experienced was an entire bearish year and another crash in mid-November.
Now, however, it is a brand new year, and attempts to shake off the bears’ grip can be seen even in these first two weeks. The market is still struggling and mostly losing value, rather than gaining, with most coins being in trouble once more. Still, a lot can happen in a year, and most investors remain optimistic regarding 2019. Here are some of the coins that are believed to have tremendous potential, and to be the hope of this year.
Of course, Bitcoin comes first. This is the first cryptocurrency which is still dominating the market, with no other coin being even close to its market cap or price. BTC is the coin that has reached the most prominent heights, and it also lost the most in the previous year. However, there is still hope, as there are several projects and events scheduled for this year that might turn things around for the number one coin.
One thing that is expected is the approval of Bitcoin ETFs…
Do or Die: 3 Crypto Projects that Really Need to Deliver Soon
Crypto projects have gone through several crucial periods of development, and while it is fascinating to watch their progress to maturity, a lot of investors are becoming impatient. During the first few years, they were barely known, only talked about in specific groups, among those developers and investors who had the luck to find out about them in the early days.
The next several years, altcoins started appearing, and the voice of cryptocurrency slowly started to spread. Then, there was a period of hype, when crypto exploded, and the entire world finally learned about this new technology that promised to change the world. Naturally, the overhype led to a market crash and price correction that we experienced last year, but the impact was made, and the world is still talking about them on a daily basis.
However, now is the time for cryptos to deliver on their promise, grow up, and start showing results. There are high expectations for many projects, but for various reasons, they have yet to deliver, and many are hoping that 2019 will be the year when they finally do it. Let’s see which 3 crypto projects really need to show results, and soon.
1) Ethereum (ETH)
Are you surprised to see Ethereum at the first spot? The project has been a top cryptocurrency for years, why would it be in danger now?…
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