BITCOIN RECOVERS FROM CRASH

 

 

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The Crypto Market cap has recovered 20 Billion

dollars in a day as Bitcoin stands above $44,000.

Most alt. coins are well in the green currently . It

seems the Crypto-Market is shaking out the weak

hands while big corporations continue to invest. Is

this the end of the bleeding or will this be another

gain before a bigger crash? It’s funny watching

speculators try to anticipate market fluctuations when

the reality is that no one really can predict what the

market will do day to day.If you are investing in this

market you should have a plan and know what you

want to do and stick with it . Personally I believe

there will be another dip (price drop) and my motto is

buy dip and hold for the long term. This is not

financial advice , I am only sharing my opinion. If you

believe in the technology (because that’s what you

are investing in when you buy crypto) then invest and

hold until the technology takes off. Overall the market

has life and it is full of potential. China has been a

big factor in Bitcoin’s pricing. It seems like every year

China Bans Bitcoin and sends the price tanking way

below its norm. As of  recently ,the Chinese

government banned all cryptocurrency transactions

and declared all activity is illegal. They said that they

banned cryptocurrency because of  the price volatility

and the potential for national security risks. Chinese

Banks, payment processors and financial institutions

will not be allowed to provide any cryptocurrency

services. The People’s Bank of China has stated “

Cryptocurrencies have disrupted financial order and

it’s a breeding ground for illegal criminal activity,

illegal fundraising, fraud, pyramid schemes and

money laundering”.This obviously will cause a dent

in the market, but I would say that crypto is no longer

dependent upon China and regardless of China’s

moves to eliminate usage in their country it is here to

stay. As far as Bitcoin though,   It did not help that

Elon Musk spoke out against Bitcoin saying that it

would no longer accept the coin for payments

because it used too much energy during mining

campaigns ( Mining is a process where computers

compete against each to verify its Blockchain.

Whoever solves and verifies the Blockchain

receives a payout in Bitcoin. As of todayBitcoin is

going for over 40,000 dollars. It seems some have

projected that Bitcoin would grow to be about

500,000 dallars.com . Time will tell and eventually

Bitcoin will be replaced by a better cryptocurrency 

ETHEREUM

Ethereum hits new lows on the crypto exchange .

Ethereum price retakes $3,000. This is a great thing

to see because whenever we see the supply of coins

on exchanges get very low, that usually means that

people are looking to hold coins for the long term.

The opposite holds true, where if you see a lot of

coins on exchanges there is fear in the market

meaning people are looking to sell .





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                   SEC can’t stop XRP

                                                  XRP unfazed by

SEC’s recent win in the ongoing lawsuit against

Ripple. Ripple took a blow from the SEC in it’s

ongoing lawsuit. Ripple submitted a request to the

court to prove SEC employees had traded XRP since

the case started (the case began in 2019). They

hoped to expose the lack of clarity on the SEC’s

accusation that XRP is a security. Judge Sarah

Netburn denied the motion, ruling that the request

would not bring clarity to the matter and that it would

also create a possible violation of privacy rights.

Ripple received some good news from this ruling.

Judge Netburn stated that the SEC must provide

Ripple with documentation that proves it asked its

employees not to trade XRP in 2019. The decision

appears overall to have no effect on the price of XRP.

It is the sixth largest cryptocurrency by market cap

and it’s token has stayed in the $0.96 to $086 range.