Bitcoin Drop Beneficial in Building Market Foundation

According to Erik Voorhees, the CEO of popular cryptocurrency trading platform ShapeShift, the bear market of Bitcoin is crucial for building market foundation and infrastructure. He explained: “Bear markets are for builders. The calm, the quiet, the disillusionment. While the fickle and fair-weather peer around with nervous insecurity, the builders become the market’s foundation, preparing the mortar and stone of tomorrow’s towers.” Why Corrections Were Historically Important For Crypto Over the past eight years, in 2010, 2012, 2014, 2016, and 2018, Bitcoin recorded five major corrections, with the latest 67…

US Market Crash Expected as Household Income Explodes, Will Millennials Flock to Bitcoin?

For the first time in history, US household wealth has surged above the $100 trillion mark, fueled by the rise in the value of stocks and properties. However, analysts say the unsustainable growth in household wealth could cause a crash, which may lead millennials to flock to Bitcoin. In September, US household wealth reached $100 trillion, and ostensibly it seems like a positive development for US markets. But, in comparison to the stagnation in actual US household income, it is quite evident that the rapid growth rate of US household…

UK Gov’t Faces Questions Over Impact of Crypto Bear Market on UK Blockchain Industry

The U.K. government has faced questions over whether it is actively monitoring the impact of the global crypto market downturn on the domestic blockchain industry, Finance Feeds reports September 18. Lord Taylor of Warwick is reported to have asked “Her Majesty’s Government what assessment they have made of reports that the value of cryptocurrencies in the United States is falling, and of the potential effects that such a decline might have on the UK blockchain industry.” Lord Bates, the Minister of State at the Department for International Development, is said…

Crypto Market Steadies at $202 Billion. Low Bitcoin Volume Remains a Concern

Over the past 24 hours, the crypto market has consistently demonstrated stability in the $202 billion region, as Bitcoin and Ethereum remained above $6,400 and $220. Yesterday, on September 16, CCN reported that the volume of Bitcoin is a concern, as it recorded nearly 30 percent drop in volume in a period of three days. As of September 17, the volume of Bitcoin still remains below $3.3 billion, down quite significantly from its $4 billion daily trading volume recorded last week. For Bitcoin to demonstrate gradual recovery from the $6,400…

Crypto Markets See Mixed Signals as Total Market Cap Holds Position

Sunday, September 16: crypto markets have seen a mix of red and green today, with some small fluctuations and total market cap holding position. Market visualization from Coin360 Bitcoin (BTC) is negligibly up on the day, and trading at around $6,504 at press time. The major cryptocurrency is holding weekly gains, up about 5.1 percent over the past 7 days. Bitcoin weekly price chart. Source: Cointelegraph Bitcoin Price Index Ethereum (ETH) is seeing small gains, up around 1 percent over the past 24 hours. The top altcoin is trading at…

Market Slightly Declines As Volume of Bitcoin Drops, Where is it Heading?

The valuation of the crypto market has dropped from $205 billion to $199 billion, as Bitcoin dropped below the $6,500 mark once again. In the past three hours, the crypto market has rebounded by $2 billion to $201.5 billion, demonstrating some resilience in the $200 billion region. Crypto market valuation, chart from CoinMarketCap.com ETH, the native cryptocurrency of the Ethereum blockchain network, showed strong momentum over the past three days, achieving a monthly high at $227. While other major cryptocurrencies fell by 1 to 4 percent, ETH managed to record…

Is Crypto Market Bottoming Out? Bitcoin Shows Stability at $6,500

Earlier this week, the crypto market seemed to be initiating a strong corrective rally, as Bitcoin breezed past $6,500. However, in the past 24 hours, the crypto market demonstrated a slight decline in value from $204 billion to $198 billion, as small market cap cryptocurrencies and tokens struggled to maintain momentum. While the crypto market eventually recovered to $202 billion, the price movement of major cryptocurrencies on September 15 showed that the market is undergoing a bottoming out process, demonstrating volatility in the low price range. Bottoming Out As CCN…

Tim Draper Predicts Total Crypto Market Cap of $80 Trillion in Next 15 Years

Venture capital investor Tim Draper has predicted that total cryptocurrency market capitalization will hit $80 trillion in the next 15 years, news outlet DealStreetAsia reported September 14. Speaking at the DealStreetAsia PE-VC Summit 2018 in Singapore, Draper argued that the significant slide in the cryptocurrency market in recent months is attributed to people who have not adopted digital currencies as a new asset class. Draper stated that once people become more familiar with the technology, it would transform many important industries globally: “I think it’s going to have such a…

Ethereum Consolidates Newly-Won Growth as Wider Crypto Market Falters

Friday, September 14: After yesterday’s bullish upswing, crypto markets have today been hit with widely-dispersed corrections. Ethereum (ETH) is today’s most resilient large-market-cap altcoin, seeing the most notable growth on the day among the top twenty cryptoassets, as data from Coin360 shows. Market visualization by Coin360 After soaring 18 percent on the day yesterday, September 13 – and peaking as high as $223 during early trading hours today – Ethereum has seen a tempering downwards, before regaining some losses in the hours before press time. At its current $214 price…

Mike Novogratz Says the Cryptocurrency Market Has Found a Bottom

For the past nine months, the cryptocurrency market has seen steady declines, forcing most altcoin prices down 80 percent or more from their all-time highs. Even bitcoin, “digital gold,” has shed 68 percent from its mid-December peak. However, the wind, says billionaire Galaxy Digital founder Mike Novogratz, is about to shift. Writing on Twitter, Novogratz, a former principal at Fortress Investment Group, said that he believes the market put in a low on Wednesday, when a widespread sell-off forced the cryptocurrency market cap down to about $186 billion, marking a…