The cryptocurrency market came back down last week, continuing the overall downtrend that started beginning of the year. Bitcoin dropped 8% to $9,800 and ether dropped by 9% to $850 during the week.
The overall cryptocurrency market cap dropped by 10% to $436 billion, indicating that altcoins dropped more than the major currencies as investors continue to switch to “safer” coins.
We are seeing the market becoming more cautious. Trading volume has been relatively thin in the past two weeks. Even the ICO money is getting exhausted, with a few relatively high profile ICOs not able to reach hard cap quickly.
This is likely due to recent ICOs not performing well and is a sign that we are close to the end of the correction. With the correction lasting almost two months now, we believe that the market has cleaned up enough and we are getting ready for another bull cycle.
Wyoming House Approves Utility Token Securities Exemptions Bill: https://www.coindesk.com/wyoming-house-approves-utility-token-securities-exemptions-bill/
Tezos Prepares to Launch as Johann Gevers Resigns the Board: https://www.trustnodes.com/2018/02/22/tezos-prepares-launch-johann-gevers-resigns-board
South Korean cryptocurrency official found dead at home: https://www.cnbc.com/2018/02/20/south-korean-cryptocurrency-official-found-dead-at-home-reports-say.html
South Korea to Support 'Normal' Crypto Trading: https://www.coindesk.com/south-korea-to-support-normal-crypto-trading-says-finance-watchdog/
Bank of America Now Considers Crypto a Business Risk: https://www.coindesk.com/bank-of-america-cryptocurrency-risk-factor-annual-report-10-k/
Venezuela Says Pre-Sale of Oil-Backed Petro Cryptocurrency Has Raised $735 Million: https://news.bitcoin.com/venezuela-pre-sale-oil-backed-petro-cryptocurrency-raised-million/
Coinbase And Bitfinex Integrate Bitcoin Scaling Upgrade SegWit: https://cointelegraph.com/news/coinbase-and-bitfinex-integrate-bitcoin-scaling-upgrade-segwit
Hackers exploit Tesla’s cloud systems to mine cryptocurrency: https://www.techworm.net/2018/02/hackers-exploit-teslas-cloud-systems-mine-cryptocurrency.html
Articles From Crush Crypto
* The information contained in this article is for education purpose only and not financial advice. Do your own research before making any investment decisions.