Hello Cryptos and welcome to today's market report. On an overall very positive day we have some good news and bad news to share.
ICOs Cashing Out Early
Let's start with some of the concerning stuff. ICOs already have a shaky reputation with many people thinking they are scams and a quick way to raise money. Personally, I do not believe that to be true. ICOs are a great way to raise money for legitimate purposes. Blockchain startup EOS cashing out early of millions of dollars of Ethereum is not helping the case. Many investors are blaming this on the recent sharp drop in ETH price. I think the price drop is more connected to the Bitcoin Segwit drama and see it has a good buying opportunity.
Russia vs USA in Freedom for Cryptos
As Russia prepares to legalize ICOs a U.S. Congressman says ‘digital currencies are not compliant' and uses the fear of terrorism against the American people and their freedom once again to support his agenda.
Steemians Spreading the Word
Spreading the word of @Steemit among Greeks "Mission Syntagma Square" #Greece
Steemit (@Steemit) July 20, 2017
Before we talk about where Bitcoin can go from here now that this drama is coming to a close let's first take a look at the winners and loser from the last 24 hours.
Bitcoin 4K?
Bitcoin’s price is now trading back above $2,500 as Segwit lock-in is now happening Goldman Sachs makes the logical conclusion that bitcoin will now test resistance $3,000 soon. What about BTC $4,000?
Talk is in the air about Bitcoin $4,000 and I want to hear your thoughts about this in the comments below. Personally, I think it is only a matter of time. When do you think it could happen?
good explanations and arguments, thx 3 post!
The fact that so many ICO's lean heavily on ETH and the other way around ETH is mostly bought now just to invest in those...thats a dangerous combination and ive never like this thought. Just like the flash crash a couple of weeks ago supposedly caused by a typo...just goes to show how vulnerable its market is. Ico companies owning millions of dollars in ETH doesnt seem very decentralized to me
Good points. Also let's remember ethereum is backed by the Enterprise Ethereum Alliance (EEA) which includes companies and banks like JPMorgan, Microsoft and Intel. These types are anti-decentralized. They are all about control.
Yes thats exactly why I have nothing invested in ETH at all, I do have some ETC though
Some ICO's are gonna be legit, some aren't. Love the photo of the steemians!
I agree! on both points. I hope the ICOs evolve into a trust platform for raising money outside of venture capital. And the steemians are rocking it!
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Chain coin lost some again today, hope the hodlers ain't freaking out :)
great post, one related post is there
https://steemit.com/bitcoin/@hafizulislam/bitcoin-1-a-brand-new-unstoppable-currency
hiii my friends
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