LaSalle Street Pro Traders Hammer Bitcoin
$BTCUSD, $CBOE, $CME
Lost in the ‘blood’ of the feeding frenzy in cryptocurrencies and related stocks is the original digital token itself, Bitcoin
Bitcoin fell as much as 10% to less than $17,000 Tuesday, the steepest decline since before CBOE futures were 1st introduced on 10 December.
Bitcoin is currently trading at: 17,182.4941, -1,667.51, or -8.85%, as of 3:57a GMT. Market open.
Investors and speculators have shown more interest in smaller digital coins such as ether and ripple, where gains have lagged Bitcoin’s 17X rally this year, and as others speculate there is more scope to gain because of their smaller market capitalization’s.
The total market capitalization of all digital coins according to CoinMarketCap hit over $300-B this week.
Savvy observers expects that to increase by about 6X to $2-T by the end of Y 2018.
Tuesday’s Top Cryptocurrency stories, as follows;
- Korean crypto exchange collapsed after getting hacked
- stock unheard of 24 hours earlier surged even after its CEO gave a rambling defense of its business
- US regulators halted a coin trader’s stock on suspicion of manipulation
- lt coins from ether to iota reached new highs and
- An app maker 3X’d after buying a Bitcoin ATM patent
The wildfire of crypto news is reminiscent of the days of the .com bubble, when stories of mail-room millionaires sparked a rush to list anything remotely related to the Internet.
That is not to say the digital currency craze has to end any time soon.
Tuesday even brought a sign that it’s just getting started: A unit of Cboe Global Markets filed to list a Bitcoin ETF (exchange-traded fund).
That being the case, we have been recommending GBIT our favorite crypto-coin exchange, where professional traders and civilian participants alike can trade securely on the world’s most innovative digital asset exchange.