Bitcoin Cracks $5000

[kahless]

There will be blood

 

[Madison320]

I'm not an expert chart reader, but it still looks like Bitcoin has been bouncing around for the last month. If it gets below 8K-9K then it'll start looking like a major move down.

Then again it's now down 22%! in one day!

 

[The Northbreather]

#tankingtuesday
#terribletuesday
#titanictuesday

Feel free to use

 

[Krugminator2]

Feels like this is headed to the 8-10k range over the next few weeks before you will see price stabilize. That would be a 50% pullback.

lol.

what are your predictions this week?

 

[kahless]

It may have lost 10k from its highs but we are only back to where we were at the end of November. So far that is.

 

[axiomata]

Good time to re-balance / diversify crypto portfolio as well. Probably not a whole lot of rationale right now for the current relative prices between cryptos that can be taken advantage of.

Given that the sell-off was precipiated by governments' threatening to ban and regulate crypto, what's a good privacy coin to buy? Also, if one has most of their portfolio in BTC on coinbase, what's the cheapest (and most private) way to diversify and rebalance?

 

[anaconda]

Good point, kahless. BTC hit $8K during Thanksgiving week and I thought that was off the rails high.

$10,950 right now.

Yes, however, quite a ways from $19.8K a few weeks ago.

 

[TheTexan]

Plane_crashing.gif

 

[The Northbreather]

//

 

[TheTexan]

Told ya it was a bubble

 

[The Northbreather]

Good time to re-balance / diversify crypto portfolio as well. Probably not a whole lot of rationale right now for the current relative prices between cryptos that can be taken advantage of.

Given that the sell-off was precipiated by governments' threatening to ban and regulate crypto, what's a good privacy coin to buy? Also, if one has most of their portfolio in BTC on coinbase, what's the cheapest (and most private) way to diversify and rebalance?

^^this^^

 

[devil21]

Damn, that's a long ass candle.

 

[Krugminator2]

 

[Madison320]

One correction. That dotted line should be the x axis.

 

[Zippyjuan]

https://www.marketwatch.com/story/5...-a-stunning-365-billion-in-10-days-2018-01-17

5 key reasons bitcoin, other cryptocurrencies have lost a stunning $370 billion in 10 days

1). South Korea
Seoul has said that the government intends to crack down on the trading of cryptoassets. Officials have also floated the idea of taxes on crypto trading and other measures to tighten its grip on market considered by some as supporting money laundering and dangerous speculative investing. By some measures, South Korea represents about a fifth of the virtual-trade volume.

2). Russia
Russian President Vladimir Putin said on Tuesday that more oversight of cryptocurrencies may be needed “This is the prerogative of the Central Bank at present and the Central Bank has sufficient authority so far. However, in broad terms, legislative regulation will be definitely required in future,” he said, according to Russian news agency TASS.

3). China
Beijing, which already has taken a hard line against the bitcoin community, which uses computing power to support the network and create new bitcoin through mining, has said it also is exploring further regulations or restrictions around digital-asset trading.

4). Bitconnect $BCC
The cyber currency known as Bitconnect, which has long drawn a critical eye from cryptocurrency investors because of its use of loans and the manner in which it solicits new investors, shut down. Bitconnect also promised a return of a quarter of a percentage point daily. Its currency, the Bitconnect coin, plunged by 94% after the announcement

5). Bitcoin futures
Futures for bitcoin on exchange platforms are set to expire this month. January bitcoin futures XBTF8, -3.12% on Cboe Global Markets Inc. CBOE, -0.56% were set to expire on Wednesday, down 42% over the past 30 days at $10,447, while those trading for the same month BTCF8, -1.88% on the CME Group Inc. CME, -0.49% are due to expire on Jan. 26. Those futures also are down about 42% at $10,455. Expiring futures contracts, in theory, can add to volatility.

 

[Dark_Horse_Rider]

the magicianeers at work. . . fuck fiat

 

[seapilot]

Good time to re-balance / diversify crypto portfolio as well. Probably not a whole lot of rationale right now for the current relative prices between cryptos that can be taken advantage of.

Given that the sell-off was precipiated by governments' threatening to ban and regulate crypto, what's a good privacy coin to buy? Also, if one has most of their portfolio in BTC on coinbase, what's the cheapest (and most private) way to diversify and rebalance?

Some Privacy coins are Monero, Zencash, Dash and Smartcash. Transfer BTC to another exchange eg Binance (based in Tokyo). No personal info needed only sign up with private email. As others have said this is not professional financial advice just some dude posting stuff on the net.

 

[dannno]

Crypto-Miners Buy Russian Power Stations

By ZeroHedge - Jan 17, 2018, 2:00 PM CST


https://oilprice.com/Energy/Energy-General/Crypto-Miners-Buy-Russian-Power-Stations.html




Two electric power stations in Russia were recently sold to a cryptocurrency miner looking to expand his operations – the latest sign that the country’s government-supported push to become a cryptocurrency mining hub has been successful.


The two stations are situated in the Perm Region on the western slopes of the Middle Ural Mountains, and in the neighboring Republic of Udmurtia. The facilities will be used as data centers as well as housing for cryptocurrency mining equipment and a center for cryptocurrency mining. The price paid for the two stations? Roughly 160 million rubles (about $3 million), according to RT.


After initially approaching cryptocurrencies with skepticism, the Russian government last summer signaled that it would instead try to regulate and embrace the markets.

That trend has culminated with the Russian Ministry of Finance drafting a bill to legalize the trading of cryptocurrencies on approved exchanges, according to Deputy Finance Minister Alexei Moiseev, who has indicated that the government is seeking to provide greater oversight. President Vladimir Putin has ordered the government to create legislation governing the status of bitcoin, other cryptocurrencies, mining, and initial coin offerings, as well as defining everything that relates to digital money, by July.

The bill will open the door to more open cryptocurrency trading and investment within Russia, as some countries like China have sought to stamp out both mining and trading.

In August, a company known as Russian Miner Coin, or RMC, announced that it would try to raise $100 million in an initial coin offering, promising to allocate 18 percent of the company’s mining revenue to holders of their tokens. The company was founded by a close aide to Putin.

...
Furthermore, the Russian government and its state-owned energy companies have reportedly considered launching a digital currency that could be used in partnership with Venezuela, Iran and Russia to circumvent U.S. sanctions in accepting payment for their oil exports, similar to Venezuela’s Petro, an oil-backed digital currency that is being developed by Latin America's favorite Socialist Paradise.


By Zerohedge

 

[dannno]

 

[dannno]

THE LIGHTNING NETWORK COULD MAKE BITCOIN FASTER—AND CHEAPER

https://www.wired.com/story/the-lightning-network-could-make-bitcoin-faster-and-cheaper/