These Crypto Chumps Are Down in the Dumps
Okay, so it didn't take long for the crypto markets to trip and stumble. A weekend, to be exact. But it hasn't been good for cryptos since the beginning of the year. There's a top-notch executive, however, who knows why, and if you'll stick around, you'll know too. For now, here's Monday's crypto news.
Image from Pixabay
Crypto News
Now that I've let the cat out of the bag, I'll spill the beans. The crypto market took a $20 billion plunge, and it seems to have come from out of nowhere. But why?
#Coinrail, a South Korean cryptocurrency exchange got hacked and Bitcoin lost 10% of its mojo.
Speaking of Bitcoin, the crypto lost $1,000 in 24 hours. I hope it didn't lose any sleep over it.
In Switzerland, half a million people voted for a Bitcoin-like financial system. I hope they're not talking about the volatility.
But did you know that 28% of the Bitcoin is owned by 1,600 anonymous whale wallets?
Meanwhile, back in the USA, some of the top crypto exchanges are being looked at hard for potential price manipulation.
In Thailand, ICO tokens will not be traded against fiat.
And the Catholic Church is hooking up to the blockchain. I guess they needed a Hail Mary in these hard times.
Crypto Analysis
On a positive note the number of women interested in crypto since the beginning of this year has doubled.
But the price of Bitcoin is down 50% just this year, and #Forbes is itching to tell you why. According to the CEO of Binance, it happens every year.
And just in case you want to talk about something besides Bitcoin, here's the top 5 Ethereum Dapps.
If you're wondering whether I take any compensation or accept any gifts for mentioning these companies, the answer is no. I'm just a humble #editor at Blockchain Times.
Join us @steemitbloggers
Animation By @zord189
Created and used by veterans with permission from @guiltyparties
Nice post @blockurator
Snappy and informative.
28% of bitcoin is stored in 1600 wallets. That's an eye opener. It worries me that the fiat power can sweep up all the bit coin anytime they want to.
Thanks for sharing.
Gaz
Yep. That's one reason it's important to diversify. Don't just hold Bitcoin. Also, it could be one reason why the price is falling so precipitously. If those whales are manipulating the market, they'll dump and cause the price to slide. When it gets to where they want it, they'll buy up a whole bunch again and drive the price sky high only to sell and reap their profits. Take care of yourself.
Definitely diversifying. I have some OMG and ETH. I'm fairly bullish on ADA/Cardano and have a bunch. And of course good old Steem. They are all still pegged to big daddy though.