Welcome to my Cryptocurrencies Market Overview for Friday, March 30, 2018.
Today in the news:
- The crypto market has fallen to the lowest level since November last year.
- Bitfinex is considering a move to Switzerland.
- United Colors of Benetton in Lithuania starts accepting Steem and other cryptocurrencies.
- Intel has filed a patent for a Bitcoin mining hardware accelerator that would reduce the amount of electricity used in crypto mining.
- And more crypto news below...
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Latest Crypto News - March 30, 2018
Bitcoin Eyes Bottom After 50-Day Low Below $7K
Bitcoin (BTC) prices dropped to a 50-day low of $6,630 earlier today, but a glimmer of good news for the bulls is that the cryptocurrency appears to be nearing a bottom.
Read more: www.coindesk.com
More sources about the price:
- Bitcoin Drops From $7,900 to $6,600 as Cryptocurrency Market Takes a Beating
- Crypto Market Sinks to Lowest Point since Nov 2017
- Crypto Markets See Monthly Lows, BTC Trading Around $7,000
Ethereum Hits All-Time Low for 2018 Following Crypto Bloodbath
The world’s second-biggest cryptocurrency, Ethereum (ETH) has dropped below $450 against the US dollar — its lowest point since November 2017. The cryptocurrency’s price, which at press time sits at $397, has been bleeding heavily for the past few weeks. According to Coinmarketcap.com data, ETH has lost half its value since March 1st, 2018.
Read more: bitsonline.com
More sources about Ethereum's price:
Crypto Exchange Bitfinex Eyeing Move to Switzerland
Bitfinex is looking to relocate its business, and Switzerland is at the top of the list of possible new locations.
Read more: cryptovest.com
Other sources:
Telegram Attracts $850 Mln In Second Round Of ICO
Pavel and Nikolai Durov reported that they raised $850 mln in the second round of their initial coin offering (ICO) in a notice signed today with the US Securities and Exchange Commission.
Read more: cointelegraph.com
Other sources:
Crypto Exchange OKEx to Roll Back Trades After Futures Plunge
Hong Kong-based crypto trading platform OKEx will roll back futures transactions following what it called an "irregular" sell-off.
Read more: www.coindesk.com
US Tech Company Intel Files Patent To Reduce Bitcoin Mining Energy Use
US technology company Intel has filed a patent for a Bitcoin (BTC) mining hardware accelerator that would reduce the amount of electricity used in crypto mining by “reducing the space utilized and power consumed by Bitcoin mining hardware,” according to a US Patent and Trademark Office patent application released yesterday, March 29.
Read more: cointelegraph.com
Other sources:
- Intel Wants to Patent a Bitcoin Mining Hardware 'Accelerator'
- Intel Submitted a Patent for Bitcoin Mining Hardware Accelerator
Bittrex Opens TrueUSD-Tether Trading Pair
Just weeks after the appearance of a new dollar-pegged coin, the TrueUSD (TUSD), a new trading pair was set, against Tether (USDT).
Read more: cryptovest.com
United Colors of Benetton in Lithuania Starts Accepting Steem
A fashionable high street brand you’ve probably visited during your clothes shopping now accepts in their physical stores in Lithuania a number of cryptocurrencies.
Read more: www.trustnodes.com
Singapore Media Regulator Launches ‘Blockchain Challenge’ To Promote Adoption, Innovation
Singapore’s Infocomm Media Development Authority (IMDA) has launched a “Blockchain Challenge,” in order to promote Blockchain innovation and adoption in businesses, according to a press release published yesterday, March 29.
Read more: cointelegraph.com
Other sources:
EOS: What is Keeping the Token in the Green?
The EOS digital asset has been having a short-term price hike. What is curious is the EOS market price has kept up well, even in the dramatic price fall that took Ethereum down to $300, and Bitcoin below $7,000.
Read more: cryptovest.com
SteemBlockExplorer.com - SteemNow.com - CoinMarkets.today
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@penguipablo but i am only worried about the steem future and market value it is dropping hard day by day something fishy.
At least steem have the 'blog' as the product and the 'blogger' as user. hopefully it can be one of the crypto that will survive
Crazy to see the amount of volume EOS has picked up! They haven't launched a blockchain yet and they're a top competitor already. Looks like great potential coming from there. Thanks for the update!
Intel knows something that legacy fintech fears.
Thank you for the heads up. @penguinpablo
I think crypto has been overhyped for a while. We need to see it really being used for it to deserve the high prices we've seen. Realism may be setting in as legislators catch up with it. I say this as someone who never bought into Bitcoin, but if you did that a few years back then you are still making massive profits.
The Benetton news is important. If people can actually spend their crypto then more will get into it. Steem is well placed for that with rapid, free transfers. We need to make that better known. Bitcoin is too slow and expensive a lot of the time.
I totally agree with you. Cryptocurrencies should show what they are capable of, for this is the time. The hype has passed.
Steem is well placed to be a big name in crypto/fiat currency market as the fastest means of transfer and I am so glad to be here to witness the gradual shift from government backed currencies to crypto. I think it is a phenomenal thing to be a part of.
follow
It still makes me scratch my head a little that as goes Bitcoin, so goes the market. It's sad that none of the alt coins seem to have the capacity of independent movement.
That said, I feel hopeful that this broad-based selloff is part of a dumping where many people are basically throwing out the baby with the bathwater. And — at SOME point — the process will start sorting the shitcoins from the quality: People will suddenly realize that the "cream of the crop" has become undervalued, and and there will be a rally in the top projects; what the regular stock market calls a flight to quality.
Given the high marks it seems to be getting from Weiss, we can but hope that Steem will be part of such a rally.
In the meantime, I am seeing a BTC (and market) bottom somewhere in the region of the root cost of mining; somewhat under $5,000.
hope it stops soon
I'm grateful for the bear market because it's a good reminder to stay cautious. Even though I felt like I wasn't getting swept up in the craziness of December/January, I definitely was in retrospect.
here's hoping for some higher prices ASAP.
Bitcoin moving as expected to new lows. Bearish outlook remains the same although a short term retrace can't be overlooked. Bitcoin has closed the quarter, month and week lower now. On the daily its showing the beginning Death Cross. Over the coming months it should be able to be bought much cheaper. Most crytos have the same outlook. I am mostly stating fact. The closes are fact. The Death Cross is something some traders use for direction. A Death Cross is usually viewed as Bearish sign. Of course what has happened in the past, does not mean it will in the future. I don't have a position in Bitcoin or a Bias. I do want to buy all my investments at the lower price. Peace and Happy Easter.
This bleeding is really doing too much harm. I hope it stops soon.
hmm
As Bitcoin goes, the Crypto space will go. Thus, there is more pain ahead...look for Bitcoin to go down to $6000.
really disappointed about btc (:
My targets are lower, Bitcoin needs to drop 80% as it has done more than 5 times in the past. there will be a 6th.
Then the sideways and move higher will begin. Needs to wash all the jokers who bought 14K plus out unfortunately
I thought bitcoin was expensive at $2,400 in June. It has a long way to fall still.
It all depends on when the Big Boys step in to buy. There are a bunch of buy orders sitting right below $6000. The $6k level was the origin in late 2017 that moved price to $19,900. When price came back to the $6k level in Feb, price when up to $12k. I anticipate when price returns, it will penetrate the deeper in what I'm calling the daily demand zone in search of those buy orders just sitting there. Can it go down to $2400, it possible, its also possible that price goes back to $20k and eventually $100k as well.
Anything is possible, you are absolutely right there.
Bitcoin has so many flaws which the 20k price exposed.
Maybe people will finally see the true power and value of steem. Maybe not?
Roll the dice and see how they fall.
It's one hell of a crapshoot.
Interesting times. tip!
I like the platform, so I'm will pick up so more steem if it gets to $1. In generally the Crypto space is just like the Internet in 1999...meaning we are in the early stages, there will be many losers and also winners...it's a matter of picking which ones will be winners longer term.
True, it's still early days. I've been collecting steem since I joined the platform. The cheaper it is the better as we can collect more. :)
Steem has so many use cases. It's a no brainer to hodl.
Never sell in a bear market. If you can afford it of course?
You also have to know where to get out as well...meaning when you get into a trade and know where you are going to get out if you are wrong....cut your loses short, let your winners ride. This post sums up what I'm trying to say in detail.
https://steemit.com/investing/@rollandthomas/the-stop-loss-order-the-ninth-wonder-of-the-world
Hi @rollandthomas! You have received 0.1 SBD tip from @molometer!
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Facebook , google , twitter and maillchimp ban crypto!! its a War against Crypto but Bitcoin will Win , it's the KING!!
And I think will fall again!
Could it be predicted?
Great times for buyers. :-)
So you're saying it's a good time to get into the market huh?
I look at this and ask myself: Is it possible to get worse? And I believe it is, but what I have learnt over the time here is that things change extremly fast and in unpredictable ways so I don't deny the possibility of getting into a bool market soon.
Looks like the waiting game, really has begun!
Waiting on the bottom.
Waiting on signal that it will rise again.
Waiting that the portfolio goes green again.
Waiting with investing new fiat money into cryptos.
And so on!
What are the most important reasons why the markets are going down for over 1 month?
Is it all the news? Or many people withdrawing and not coming back? Or?
Bad news about cryptos
countries banning cryptos
high volatility and risk
people lost trust in crypto
fear of loss
i think there are a lot of reasons why the market is going down at the moment, but i still think it will sort out all the crap and the good projects will survive and come back up but this still needs some time.
My feeling says this bad news show can continue for ages 😥
Thanks for you reply. I will upvote one of your posts. Since it doesn't help to upvote your comment.
That's a lot like STEEM in the late spring of 2016, fyi.
This is sad
the problem is that there is still too much speculation in this market, we need a stable coin which we can trust in more or less so you can use crypto for payment without the fear loosing money when you invest into it. This will come i am sure but it will take some time.
We needed a bear in the market and when it hibernates again in winter the bull comes out with a vengeance for the people who wants to get the chance to be in the game.
Thanks for the update, i think this is a healthy correction and it will sort out all the crap that is on the market. I am sure it will still go down a bit and then i hope it will stay to a certain level. i also think that there will be one stable coin with low fees that will be available for transactions in a real time scenario then cryptos have really some worth but now with the big fluctuation it only attracts the investors who want to make some quick money.
i think this will be over in some time and then maybe a new coin with stable exchange rates to USD or EUR will rise and be used for payment.
Steem's not among first 30 :-( . We have to stay patient when the sentiment turns.
Maybe you should consider going from a "top thirty" to a "top fourty" (or even "top fifty") window in order to catch Steem, which recently fell out of the 30 first cryptos. It's a bit of a pity not to be able to follow Steem in your posts
Wow, I like it. You’re a genius