The crypto markets are in a downtrend, and large sell orders are aggressively being placed, yet crypto had one of the most bullish announcements in all of its history (Bakkt). It almost looks like the bears are, for lack of a better term, “panic dumping.”
Bakkt is un upcoming exchange by the Intercontinental Exchange ICE (the parent company of the New York Stock Exchange NYSE). This is pretty much the biggest crypto news of 2018, if not ever. I explain why.
According to eToro Research Litecoin (LTC) is trading at a massive discount to what it should be worth considering its supply, transaction speeds and fees, longevity, and close relation to Bitcoin.
There is a ton of bullish news for crypto this week (for example Starbucks entering the crypto space) despite a correction that started over a panic over a Winklevoss ETF no one cared about until it was suddenly rejected again.
It looks like Mt. KillYourPortfolio (Bitcoin) could be erupting for a fourth time this year, once again covering the citizens of cryptoland (altcoins) in a sea of red lava (red candles). This natural cycle helps to create fertile lush green mountains (green candles), but that is little consolation to those who haven’t sought shelter (HODLers).
Some alts like ETH are hitting April lows, some like LTC and ARK are nearing or exceeding December lows, some like XCP are hitting all time lows in BTC prices, and a few new coins are at all time lows in both USD and BTC. That might look like sales to you, or it might look like a sign of the end times. It is largely a matter of perspective.
DCEX, a San Francisco-based cryptocurrency exchange for retail and institutional investors run by AlphaPoint, will become the first exchange to offer XRP as its base currency.
Cardano (whose token is ADA) is an evolving and ongoing project developed by IOHK. IOHK’s latest accomplishment is, in simple terms, the implementation of a test network for its smart contracts on Cardano.
Thomson Reuters (the parent company of Reuters; they also have an investing arm) is partnering with CryptoCompare (a company that provides data on cryptos) to meet their client’s increasing interest cryptocurrency.
Bitcoin went into correction mode after losing some steam this weekend, it predictably took alts down with it. However, there is still a nice setup across the board if some key levels can hold.
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