For reasons that aren’t fully clear, but likely relate back to the recent alt boom and South Korea news, cryptocurrency entered a correction period.
Cryptocurrency opinions, op-eds, speculation, and insights. Oh, my!
In cryptocurrency which coins are doing well tends to rotate. At the start of the year it was XRP, XLM, ADA, then it went to NEO and ETH, before that it was clearly BTC.
The total market cap of cryptocurrency is near an all time high, Bitcoin dominance is at an all time low, and altcoin dominance at an all time high. What can this tell us?
Ether (ETH) hit an all time high on January 9th due to a series of events explained below. Unfortunately, most of the rest of the market suffered a correction.
Many altcoins came down from all time highs between Jan 3rd and 5th as Bitcoin made its way from the $14k to $16k zone. This helps us see some historic patterns. NOTE: A historic pattern doesn’t have to occur again, the past can tell us what to look for in the future, but no one . . . read more
In general, when Bitcoin stagnates it gives altcoins a chance to run. The Bitcoin stagnation that started in December 2017 set the stage for an altcoin boom like few before it.
Ripple surpassed Ether to become the #2 cryptocurrency by market cap in the last week of December reaching a market cap of more than $90 billion.
To summarize the tax rules for cryptocurrency in the United States, cryptocurrency is an investment property and you owe taxes when you sell, trade, or use it.
Bitcoin has struggled to stay in the $14k range after hitting a high of $20k. Logic might say sell and wait, but those who sell could miss a number of forks.
Many Bitcoin forks have occurred or been announced. We know Coinbase/GDAX supports Bitcoin Cash and Bitcoin Gold, but will they support the new forks?