|Day's range||1.17 - 1.68|
|52-week range||0.00 - 3.29|
|Volume (24 hrs)||702.54M|
|Volume (24 hrs) all currencies||1.96B|
A sea of red across the cryptomarkets, influenced by more bad news hitting the news wires, questions whether a near-term recovery is on the cards.
The South Korean governments shift in policy on cryptocurrencies has contributed to some sizeable gains in some of the cryptocurrencies, whilst others have seen modest gains, including Bitcoin that continues to be pinned back by the futures market.
The South Korean government is looking to shut the cryptomarkets. Is this the end of the road? Will other governments follow suit? Regulatory risk is certainly key and the cryptomarkets are far from free from government and central bank influence.
Ethereum looks to keep the forward momentum, while Bitcoin, Ripple and the other majors slump in a crypto sell-off that started midway through the last weekend.
Small business optimism and a reading on job openings should be the economic highlights on Tuesday amid a quiet economic schedule.
2017 was the year of cryptocurrencies as interest in the global monetary system started to move from fiat currencies to crypto. The decentralized nature of cryptocurrency, its ability to redistribute wealth, and the speculative nature of its inherent value spurred mainstream interest in crypto.
Ethereum is not going down without a fight and Ripple has paid the price, with the recent declines likely to be more down to Coinbase deciding to quash rumours of Ripple being included on its exchange.
Bitcoin continues to struggle for direction, with another day of sideways moves on the cards, while the altcoins continue to east into Bitcoin’s market share. Regulators and exchanges have played a hand in this week’s moves and that’s unlikely to change anytime soon.
Terranova prices have surged by more than 500% over the last 2 days as the altcoins begin to gain attention
The year of 2017 is coming to an end and it can certainly be called the year of cryptocurrencies – everyone was talking about it, from political leaders to housewives. Some predicted the inevitable collapse of them, some countries banned them, others welcomed them with open arms, relishing new ICOs. In general, We have not seen such hype before.
In the early 2000’s, I was a young presenter on Bloomberg TV with my own trading online show when the original internet bubble burst. Before Facebook, it was MySpace, before Spotify there was Napster, before Google it was Yahoo. The first mover advantage is not necessarily the best place to be – Bitcoin beware.