Welcome to my Cryptocurrencies Market Overview for Monday, February 5, 2018.
Today in the news:
- The crypto markets are heavily bleeding again today.
- China will add offshore cryptocurrency exchanges and ICO websites to its Great Firewall.
- More and more banks are banning credit card customers from buying bitcoin.
- And more crypto news below...
24 Hour Change
Realtime chart on my website CoinMarkets.today
7 Day Change
Month-to-Date Change
24 Hour Volume
Market Capitalization
Bitcoin daily chart (log scale)
Mind the low Relative Strength level (RSI). Historically, this is a buy opportunity.
Feel free to use and share my charts, but please mention me as the author.
Latest Crypto News - February 05, 2018
The Crypto Market Is Down Over 50% from All-Time Highs
The total value of all publicly traded cryptocurrencies hit a combined $366 billion today, its lowest figure observed for the market since Dec. 4, data from CoinMarketCap reveals.
Read more: www.coindesk.com
Other sources:
Bitcoin Prices Again Below $8K, But Traders Forecast Fresh Upside
Bitcoin has fallen 11.23 percent in the 24 hours to press time Monday, Feb. 5, dropping below support at $8000 as its price continues to dictate altcoin performance.
Read more: cointelegraph.com
Other sources:
Ban Complete: China Blocks Foreign Crypto Exchanges To Counter ‘Financial Risks’
China will add offshore cryptocurrency exchanges and ICO websites to its Great Firewall, the South China Morning Post reported Monday, reported Feb. 5, quoting a publication affiliated with the People’s Bank of China (PBoC).
Read more: cointelegraph.com
Other sources:
- Report: China Cutting Access to Overseas Crypto Trading (Coindesk)
- China to stamp out cryptocurrency trading completely with ban on foreign platforms (Business Insider)
- China Enlists Its 'Great Firewall' to Block Bitcoin Websites (Fortune)
Ghana is Paving the Way for Cryptocurrency in Africa
Finchcoin is the first official digital currency of Ghana. Operators are planning to expand the coin in the coming months into what they call “enterprise territory” by building a Finchcoin-based bank, a crypto exchange, crypto bonds and a crypto mining station.
Read more: www.bitsonline.com
Are Insiders Secretly Loading Up on Bitcoin?
Are insiders quietly loading up on Bitcoin right now? And what mistakes are people making that you can avoid? Revealed in this new video.
Newly Discovered Vulnerability In All Ledger Hardware Wallets Puts User Funds At Risk
Hardware cryptocurrency wallet manufacturer Ledger has discovered a vulnerability that affects all of its devices and can lead to users losing their funds, according to a report released on Saturday, Feb. 3.
Read more: cointelegraph.com
New York Bill Calls for Research Into State-Backed Cryptocurrency
A New York legislator has submitted a bill calling for the state to establish a task force to study the logistics and impacts of creating and issuing a state-backed cryptocurrency.
Read more: www.ccn.com
Singapore Airlines to Use Blockchain for Loyalty Program
Singapore Airlines wants to integrate blockchain technology into its KrisFlyer loyalty program. The company will come up with a digital wallet that travelers can use to unlock value from the accumulated miles.
Read more: cryptovest.com
Other sources:
- Singapore Airlines to Launch Blockchain-Based Loyalty Wallet (Coindesk)
- Singapore Airlines To Launch ‘First’ Blockchain Loyalty App Among Competitors (Cointelegraph)
Lloyds Bank bans customers from buying bitcoins using credit cards
Lloyds Banking Group has banned credit card customers from buying bitcoin amid fears it could be left in debt as the cryptocurrency’s value deflates. The banking giant, which includes Halifax, MBNA and Bank of Scotland, is thought to be the first in the UK to ban credit card customers from borrowing to buy the cyptocurrency.
Read more: www.theguardian.com
Major Cryptocurrency Exchange Bittrex To Add USD Trading, Reopen New User Sign-ups
Bill Shihara, CEO of Bittrex, confirmed during a Unikrn Radio podcast with Unikrn CEO Rahul Sood on Jan. 31 that the Bittrex exchange will be opening up USD trading to the majority of its customers.
Read more: cointelegraph.com
Blockchain Can Change the World, South Korean Finance Minister Declares
South Korean finance minister Kim Dong-yeon has voiced his admiration for the blockchain technology and its game-changing potential.
Read more: cryptovest.com
LeadingTrader.
LoL
Long term I still believe crypto has a huge future. May take a few more years but some of these will be big.
You are very right sir
Wish I had some extra fiat on hand to pick up some crypto at such low levels. Definitely a buying opportunity for sure.
When people will see this opportunity a huge FOMO will start, I am waiting for this :))
i also try to buy some steem .i have some money....about 5k USD
suggest me which one is now for me best and how much @brandonp
No one will tell you what is right. If someone do tell you to buy this or that coin, I wouldn't trust him/her if I were you. Serious and responsible person will never such an advice. Remember: It is impossible to know which cryptocurrency will prevail.
Here's the best advice I can give you. Put all $5k into Steem. Then transfer all $5k of liquid Steem to @brandonp. He will then do some magic and in a few weeks time will give you $5.1k liquid steem back.
*full disclosure: @brandonp reserves the right to keep all Steem for himself if he so chooses.
**fullest disclosure: this is not to be considered investment advice...
thanks for information on bitcoin now day btc is down😐
China will add offshore cryptocurrency exchanges and ICO websites to its Great Firewall for this people can use VPN.
but if china will do this then its really really bad for cryptocurrency as china is big market for crypto.
Traditional stock markets are also taking a big tumble, its the calm before the storm! Looking forward to this months journey unfolding.
Major cleansing of the crypto market going on
Fantastic post. Love these stats, I'd love them more if they weren't so scary, still great info here! RT, re-steemed, and added to tonights Daily Dood.
Thank you @penguinpablo for market overview
This means alot now we don’t have to look anywhere for market overview, you are doing it in best way
And
Why banks are banning credit card customer from buying bitcoins?
Banks are banning customers from using credit cards to buy crypto because they believe the risk of crypto falling more will make it so customers can't pay back the debt.
I think crypto is gonna get little more downs and sure this is the Buy opportunity. Many with low understanding and less experience are gonna into a panic attack. They are thinking that this is the end of crypto currency, But the fact is things like this have happened before in history of crypto. This is instead a great opportunity as they are new now they can earn profit by investing. They dont do research.
By reading your posts daily they will come to know what really is happening in crypto world and what is best for them to do at the time.
its really helpful for everyone. And thanks for sharing @penguinpablo
Good perspective I keep thinking the bloodbath is over and buying in a little more then getting pissed!
Downward dollar-cost-averaging is a real thing. I'm not saying you should or shouldn't do it but it is a legit point of view.
No I really do understand but for me it’s one that makes my head spin. Where’s a good place to start to learn how to do this more easily?
yes you are right
Thanks for the technical update and news.
In my opinion Bitcoin will continue this trend to the 5000$ mark. In the meantime there will be multiple dead cat bounces which will wreck day traders and newcomers.
In the future the price will settle when the market finds its true bottom, and after that a slow to medium uptrend should be expected.
Ty for your awesome statistics once again!
Thank you @penguinpablo
wow very nice
Wonderful information
Thank you
i thing tomarrow we ganna se even more red
why do you think that? Just curious.
yes realy just look now when i wrote this comment btc drop even more and by couple houndrets dollars
I need to re esteem this so that others can be updated ,thanks for the information
and... it all seems to be related to tether that little green blip on the radar sigh
What does that mean?? Is Thether going down?
Its very possible I am just about to post a big report on it but brought it down into small bites so it is easy to digest the madness!
Every time I think it’s the bottom I buy a little then it immediately goes down. It’s the Seinfeld episode where I should do the exact opposite of my instincts and I will be Rich!
so sad news
I like ur post and the stats you have presented are most worthy.nice work man!!!!
information is very useful, thanks for the information, I will wait for further information 😊
great info there...hope to get more from u ...i am new in here and just upvoted this post...good luck !!
Bitcoin value is under $8k few hours ago.. More details https://steemit.com/bitcoin/@kapable/bitcoin-value-under-usd8k-again-four-more-weeks-of-crypto-winter-e13fe689d28cc
Thanks for the sharing @penguinpablo
It's like a whale giving birth.
A blood bath.
this is nice market overview you have shared thanks..
It's a great time to buy....
..if you can.
waiting for surge
Love this dip. Just bought some shiny, delicious steems for just 3,5 $. Hey Binance let me withdraw my steeeeem
An absolute bloodbath! I tried to buy a little as it was going down. Now I'm trying to figure out what to buy in this mess to even things out.
What an exhaustive information.
Thanks @penguinpablo - I love your updates.
Some bad news, followed by some good news. Nice to see Bittrex Bill re-opening for sign-ups.
Great post and also help full post, wait for ur next post,hope as soon as possible u post for us,overall thanks a lot for this post...
This is really bad news for us the newbies in cryptocurrency. Well i hope this will not last long. Our fingers are crossed.
@penguinpablo thanks for the post.
The joys of the threat of the little people having something over the fat cats, really gets on the nerves of the big corps. They can't do anything to stop the little people getting access to crypto so they have to make it as difficult as possible for them to get access to it in the first place.
It's the jobs of the exchanges now to come up with some interesting solutions to this.
Not much good to see here other than the Bittrex news. Unless you have fiat on hand to begin scaling in at the lower prices of course.
Hi PenguinPablo, nice to meet you.
I am an Independent Trader and I follow the forex and cryptocurrency markets very closely.
I think that the graph of btc / usd is a very technical graph and above all that respects the levels of fibonacci in an almost maniacal. Now that the bitcoin is downhill I think the next step that it will reach is in the 5500USD area.
In the following graph I have indicated with a green rectangle the tests of the most important Fibonacci levels.
Great post.I Love it.
Good construction
i wanna grab some cryptocurrency today..
Great news report pablo ,I was using your useful webapp https://steemnow.com/ but never came to your place, what an error!...fortunately I sorted it ;)
a useful post, if I had a lot of money starting the day will accommodate it.
let alone me simple people, steemit account only I have.
I thank you for the information.
Success is always for you.
lovely post, congratulation! Also if Cryptocurrencies Market is a difficult world, it is almost in every home anymore.
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Any possibility to improve the Bitcoin rate?
very informative video, thanks so much learning something new every day.
they needed a serious correction anyways things got way out of hand with all speculators driving up price to fast
Cutting loss, selling frenzy!
This market is scary. Don't capitulate, remember that if you didn't plan to sell today, why would a temporary price change make you sell? Enjoy the show!
the post is really useful for us, thank you @penguinpablo