Bitcoin is still up 27% this month and most altcoins even more and you guys are panicking? Remember Bitcoin began December below $10,000.
There's no big news event that triggered the sell-off, so I think it's just end-of-the-year profit-taking. Eventually it seems to turn out that those who predicted a 10,000 Bitcoin price by the end of the year won't be far off. We just didn't expect it to happen like this ;-)
Welcome to my Cryptocurrencies Market Overview for Friday, December 22, 2017.
24 Hour Change
Realtime chart on my website CoinMarkets.today
7 Day Change
Month-to-Date Change
24 Hour Volume
Market Capitalization
Bitcoin Daily chart
Feel free to use and share my charts, but please mention me as the author.
Latest Crypto News - December 22, 2017
Bitcoin Fights Back From $13,000 as Selloff Enters Fourth Day
The world’s largest cryptocurrency sank as much as 21 percent, briefly trading below $13,000, before recovering to near $14,000 late in the European morning. Other cryptocurrencies also tumbled, with bitcoin cash crashing 31 percent and ethereum losing 20 percent over the past 24 hours, according to coinmarketcap.com.
Read more: Bloomberg
Futures Firm Cboe Filed for 6 Bitcoin ETFs This Week
The Chicago Board Options Exchange (Cboe) has filed with the U.S. Securities and Exchange Commission (SEC) to list multiple bitcoin futures ETFs in the past week, public records show.
Read more: coindesk.com
Goldman Is Setting Up a Cryptocurrency Trading Desk
At least one of Wall Street’s biggest firms is growing more comfortable with cryptocurrencies. Goldman Sachs Group Inc. is setting up a trading desk to make markets in digital currencies such as bitcoin, according to people with knowledge of the strategy. The bank aims to get the business running by the end of June, if not earlier, two of the people said.
Read more: bloomberg.com
Other sources:
- Goldman is reportedly getting into bitcoin and crypto trading
- Doing a 180 – Goldman Sachs Goes Crypto
Wikileaks to Accept Additional Cryptocurrencies for Donations
Wikileaks is reportedly set to begin accepting additional cryptocurrencies as a way to serve users who want to contribute to its media and whistleblowing efforts.
Read more: coindesk.com
Lightning CEO Elizabeth Stark on Bloomberg, Discussing Lightning Network and the Future of Bitcoin
CEO of lightning network, Elizabeth Stark interviewed on Bloomberg. Explains technology from Lightning network, and bitcoin’s future scaling and reduction in fees. Exciting times for bitcoin.
North Korea Accused of Hacking South Korean Bitcoin Exchange Youbit
Earlier this week, major South Korean Bitcoin exchange Youbit suffered a large-scale security breach that led to the theft of one fifth of user funds.
Read more: cointelegraph.com
From China to Singapore, Asian countries are increasingly uneasy with the rise of bitcoin
Regulators in Asia Pacific, including those in China, Australia and Singapore have become increasingly uneasy with the rise of cryptocurrencies.
Read more: cnbc.com
NEM Digital Assets to Integrate with Trezor Hardware Wallet
NEM.io Foundation and SatoshiLabs have struck a partnership to integrate the latter’s Trezor hardware wallet with the NEM blockchain.
Read more: cryptovest.com
Popular Chat App Kakao’s Exchange Upbit Claims Number One Spot in South Korea
Kakao’s cryptocurrency exchange Upbit now claims to be the largest crypto exchange by volume in South Korea, one of the top three markets globally. Listing over 120 coins and leveraging Kakao Talk’s massive user base, Upbit currently facilitates an average daily trading volume of 5 trillion won.
Read more: bitcoin.com
Why Bitcoin is Better than Banks | Interview with Simon Dixon
CEO and Co-founder of BnkToTheFuture, Simon Dixon, talks about Bitcoin growth, world of cryptocurrency, and 3 simple problems in banking on an interview in Block Show Asia with Cointelegraph. A must watch!
Bitcoin could trigger the next financial crisis
Cryptocurrencies could trigger the next financial crisis if they become a systemic risk to the financial system, a cryptocurrency expert has said.
Read more: businessinsider.com
Cryptocurrencies in Panic Mode: Five Reasons for the End-Of-Year Crash
The cryptocurrency market showed its scary side as the roller-coaster ride reached the peak and started what felt like freefall. Beyond sheer panic and the activity of trading bots, here are five possible reasons for the correction.
Read more: cryptovest.com
Good time for people to buy that said they missed out. This can be seen as a long term investment because it will eventually rise , the matter of time will decide when .
This is crypto as it best.
The same speed you make profit.
The same speed your profit phew.
That is some serious market cap lose nearly 200 billion. Thats far more then a correction now.
Crazy, but i'm still a buyer BIG TIME now especially.
Fast up = fast down. Pure technical and some extra downward pressure by all the extra FUD. BTC is still the extremely innovative tech where I bought in to so HODL!!!!
I actually did expect the big pullback this month after that crazy rise, so I got out of BTC temprarily at 17K with a nice profit until things settle down. I am very bullish long term on Bitcoin so I will buy again at the lows. This market fluctuation has happened (looking at the charts) each time BTC has gone up exponentially and then come down again, just on a greater scale each time. It is funny though that it was just two weeks ago we were at these prices. I feel sorry for newcomers that may have put in a significant investment at the peak.
Good gravy this is a lot of information!!! I'm sure you have some sort of template set up for this but.....man, takes me an hour to read this. I can't imagine putting it together.
Great title though. I keep saying that same thing to others. Big correction and my accounts are now down to where they were....last Tuesday. lol
Are you looking forward to the day when Steem cracks your top 30? It might be coming....kinda depends on if some of these others leap-frog it.
Keep it up! I love reading it! Good stuff as always....
i agree
It is funny to watch all of this. I made $200 in about 2 hours just by buying LTC at $225 and then selling at $250.
Buy on the dip, not at the top!
This strategy requires a lot of luck, especially because there are no fundamentals. There is no state with an economy backing up the currency with some sort of policy. I could go on and on if people want.
LOL!!
Perfect.
yea i and i m agree on it just the end of the year and really here are many experts who predict it on only 10000 but it gone double and hope it will move up again soon in these days @penguinpablo...and this is time to buy it isure
True, but crypto just torched all the newest buyers, all those people flooding Coinbase with money in the past 10 days. You're not feeling the pain bc you got in much earlier and have seen this all before. But when you consider crypto went from $100 billion to $600 billion in mere months, that's a LOT of people who traded dollars for cryptos at prices around today's or higher.
We predict getting back in now will prove too early. Wait for a deadcat bounce, then another selloff.
Until then, tune in for our OVERNITE trade ideas we'll post in the future!
https://steemit.com/cryptocurrency/@harpooninvestor/altcoin-poopcoin-overnite-stratis-and-burst
We have heard and knew a lot out this cryptocurrency. We dont even have any idea that who is behind this company and what aim it has. Still, we have made it as the largest cryptocurrency in the world. Bitcoin is most popular than the other cryptocurrencies. Last Monday, bitcoin was trading at more than $19,500. which was almost close to $20,000. But today, Bitcoin is trading at around $11,800. How strange isnt it?.
Bitcoin had lost nearly 25% of its value over the last 24 hours. And the price of most major "altcoins" fell even further, with losses ranging from 19 to 35%.
We remember that Bitcoin could not hold long the threshold of $ 20,000 - a threshold it could have exceeded last Sunday, the space of a few hours.
Futures contracts offered by the Chicago Mercantile Exchange, which allow institutional investors to speculate on Bitcoin, also recorded a sharp decline. They traded between $ 13,520 and $ 13,570, while their courses had exceeded $ 20,000 when they arrived on the night of Sunday to Monday.
I agree with you! People need to look at the big picture.
Thanks for putting all this in perspective. Of course mainstream news channels will look at this like the crypto world is going under, but we HODL.
This is where charts come in real handy :)! Thanks for the work you do.
Whaaaa?
Is BitCoin at the Bottom of The Correction?
Now, granted, I didn't make a prediction in July saying it would be at $10k. I did however, make a prediction in November, saying it would break $10k before the end of the year, when it broke $7k
So... Buy! Buy! Buy!
You say that there was no news that triggered the selling off... but price started falling since the CME futures was released, surely that has to be taken into account as the possible cause for why bitcoin's market cap has reduced by $125 billion and it's price down nearly $8,000?
Corrections happen.
Yes they do my friend, maybe this is a correction, I cannot tell the future but I do believe bitcoin will make way for another coin with more promising technology and purpose and they will become the market leaders of the near future.
Well, that's a given. BitCoin has issues with transaction times and fees. But, right now, it is the name that is known. The other coins will have to fight for the space, but better coins are already out there.
Agreed
Would you say it's a good time to buy?
Good post ,,thank you
Bitcoin 1 Month Low could look really ugly?
Not sure what that level is, Anyone?
Likely to scare off newbies.
Goldman Sachs is officially making it a mainstream thing. So I would have expected the opposite thing to happen tbh
Thanks again for compiling these stories and charts. This will be interesting to see play out for sure. The weak hands will be shaken for sure
I am buying more BTC now lmao wish i had lots more money! God Bless.
Pre-christmas sales?
Bitcoin's Black Friday
Nicee.thanks for sharing the post is very informative plz upvote me i need physical coins
I always pay attention to your posts, because your post contains many important information that is very valuable to me. Thank you very much for sharing this valuable post with us. I hope that you will be with us for many more valuable posts like this.
Amazing
a lot of people did their first actual research of what btc is and it's limitations over the last month, and were all waiting for a price dip to either diversify or take profits.
the question is, will there be another boom cycle and i believe there will be.
what i find fascinating is btc's resilience against its own limitations, in a way this was a huge stress test, transaction times to 24+ hours?
transaction fees $15 yikes, that is almost as bad as banks lol amirite? how did we get here?
then they learn that other cryptos a. are tied to usable upgraded apps like steem b. designed to handle more transactions/sec and c. less than $1
either way going forward we got the two things crypto really needs, volume growth and blockchain uptime.
Hmmm, this week, bitcoin has plummeted over $7,000.
If other assets such as stocks, bonds, real estate, and more were not grossly overvalued and ripe for even worse plunges, bitcoin's drop would be a cause for concern.
As it is, there's really no reason to worry or to freak out. Quite the opposite, this "dip" is a good chance to accumulate more bitcoin, or for first-timers to buy some.
The crypto revolution is still in its early stages. Onwards and upwards.
Amazing ;!!
Fear the journey to the moon till you land safely.
Agreed. Talked to my buddy, who is a stock trader and he said "I told you it would crash." I mentioned this happened before and will happen from time-to-time. It just allows others to buy low and sell high. Works for us invested long term.
Wow... If all your readers and chart viewers, who upvoted, added all their time spent together on this Post, I'd have to imagine a very high number in hours... I always try to make my post, short and sweet, because I figure most people don't even click on my post, they just Up-Vote, without looking or reading... As for me, I love Comments... Thanks
@pocketechange
That is true! They predicted $10K and everyone was blown out of the water as it gained momentum and then fell back down. So the $10K prediction was rather accurate...one way or another!
Thanks for sharing @penguinpablo
Lots of resources here. I'll go through them tonight and hopefully learn more about what's going on.
Don´t panic! It´s only correction. So I will buy some crypto now. ,-)
Things can't always go up absolutely all the time. What matters is the longer term trend, right?
✈ Great post! Thank you so much!
Good fresh news ;) it's just need to take more power to grow ;)
Yeah it is crashing so much fast and will take many investors money with it. Poor Investors!
The BTC fall of price could be from the sellers from the hacking of the korean exchange. They must have been sold off their loot so it triggered the crash which will eventually bounce back.
That is a serious cap lose nearly 200 billion. Thats far more then a correction now.
To Check on STEEM Buy and Sell check here
https://steemit.com/steemit/@steemxpounder/steemvalue-buy-or-sell-ideas-from-experts-for-saturday-december-23-2017
Bitcoin and maybe other cryptos are in bubble territory. So far, they have minimal transactional use and only function as stores of value. The recent popularity of BTC is due to noise traders jumping on the bandwagon of a rising currency. It may have something to do with low returns to other investments, as evidenced by low interest rates, especially in the U.S. If I had any powers of prophecy, I'd predict the peak and try to find a way to short BTC.
Beginning of the month everyone was rejoicing with the 'over 9000' memes, and even then 9000 seemed like a hell of a milestone.
Now all the coinbase noobs are freaking out with their 13k-20k positions and trying to save what money they still have left by selling something that they didn't even understand in the first place.
Yet here we are, at 13500... still up 65% in a month...