The dark times of early 2018 may be back upon us. As I write this, bitcoin has lost over 7% of its value in the last 24 hours alone. The current level around $8,500 represents a 26% drop from the February high of $11,600 and a full 56% drop from all-time highs reached in late 2017. #-ad_banner-#Like with the previous drops, the culprits seem to be unfortunate news and the ensuing panic selling (as well as stop-loss algorithmic selling). The news, as is always the case, is questionably relevant to bitcoin’s value. First, Google announced today… Read More

The dark times of early 2018 may be back upon us. As I write this, bitcoin has lost over 7% of its value in the last 24 hours alone. The current level around $8,500 represents a 26% drop from the February high of $11,600 and a full 56% drop from all-time highs reached in late 2017. #-ad_banner-#Like with the previous drops, the culprits seem to be unfortunate news and the ensuing panic selling (as well as stop-loss algorithmic selling). The news, as is always the case, is questionably relevant to bitcoin’s value. First, Google announced today that it will be restricting advertising for cryptocurrencies and cryptocurrency-related content. Bitcoin’s value dropped 12 percent following a similar announcement by Facebook in late January. However, the other piece of news likely affecting bitcoin’s price is more general: regulatory uncertainty. As the SEC and Congress draw nearer to drafting and implementing cryptocurrency policies, uncertainty and doubt over the market’s future is building. Why this is particularly relevant today is thanks to a blog post by European bank Allianz Global. The post declares that bitcoin’s intrinsic value “must be zero” and that a lack of regulation signals… Read More

We’re only three weeks into 2018 and it’s already been a particularly wild year for cryptocurrency investors. And that’s saying something for a market where 15% moves are brushed off as daily trading swings. The euphoric first week of January, when a number of coins achieved all-time highs and bitcoin reached for its own stratospheric peak, was met with a downturn that slid from disappointing to catastrophic over the next two weeks. Prices dipped to lows not seen since the mainstream media picked up on cryptocurrencies last fall, with bitcoin crashing under the critical $10,000 mark on Jan 16. Read More

We’re only three weeks into 2018 and it’s already been a particularly wild year for cryptocurrency investors. And that’s saying something for a market where 15% moves are brushed off as daily trading swings. The euphoric first week of January, when a number of coins achieved all-time highs and bitcoin reached for its own stratospheric peak, was met with a downturn that slid from disappointing to catastrophic over the next two weeks. Prices dipped to lows not seen since the mainstream media picked up on cryptocurrencies last fall, with bitcoin crashing under the critical $10,000 mark on Jan 16. Was it big-money investors shorting the market to cash in on futures contracts? A selloff in preparation of tax season or the Chinese New Year? The classic January crypto-dip? We may never know for sure. But whatever plagued the market has made a swift exit. #-ad_banner-#At the time of writing, bitcoin had rallied over 20% in less than a day, and the other two most well-known cryptos, ether and litecoin, had gained even more. But some of the greatest gains were in a couple of “altcoins” (coins other than bitcoin) you may or may not… Read More