There is something going on in Asia that's artificially pumping Ripple's price upwards. Other than the news last week that a coalition of 61 banks in Japan, organized by SBI Ripple Asia in Tokyo, will launch a new digital payments systems pilot program with Woori Bank and Shinhan Bank of South Korea using the Ripple blockchain network, there seems to be no other known factors that's driving this unexplainable and unexpected price hike.
Is this just a delayed reaction from mainstream crypto lovers?
Another phenomenon is Ether, Litecoin and other crypto's response to bitcoin's major price correction. Historically, smaller cryptos loss about 10% more than bitcoin's but this time around, they are proving to be more resilient especially that this is the biggest drop in bitcoin's price both in value and percentage.
I think this is a good sign that the various cryptocurrencies are beginning to diversify and find their own niches in the blue ocean market. I hope this continues going forward so other cryptos become the safe havens during bitcoin's major correction. Right now, fiat is the only option to temporarily park your cash while waiting for the dip to get back into the game but the risks of keeping your fiat in an exchange are too high.
Looks like it will be another sleepless night tonight to wait for the bottom. It's movie marathon time!
I do not like it very much Ripple, but it is a good sign for the market in general, the falls are mostly corrections.
Nothing goes up forever. Ripple superinflated. Bitcoin becoming more and more attractive to buy as the price falls. Does anyone doubt bitcoin will be over 20k in january?
after this correction, 50k would be the next stop. bitcoin typically more than double its previous high before the correction.
I would wait for 11k to 9k. Bitcoin historically losses 1/3 of its value during major correction. but this time around, it never had the much anticipated correction until it hit 20k. major correction should have happened at 10k. before shooting for 20k. This time, it skipped the 10k correction so I expect bitcoin to loss between 40 to 50% of its value for this correction.
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More and more banks are adopting Ripple. I don't think it's impossible that this is a natural hike and not just inflated. I bought in at around $0.25 per coin, so I'm pretty happy right now!
Good for you. I also went full throttle at 0.25 but I sold at 0.81 eventhough was calculation was to sell at 1.03. Made handsome profit but it bothers me a little bit for selling early but I'm happy regardless.
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