Cryptocurrencies have lost about $60-billion in less than a week following the continuing decline of Bitcoin, Ethereum, Litecoin, Ether, and Ripple. Bitcoin tumbled to $4,237 before regaining support in the late afternoon session. According to CoinMarketCap.com, digital-currency assets have lost approximately $700-billion of market value since the peak in December 2017.
Bitcoin’s hash rate, or the speed at which a given mining machine operates by finding and solving blocks through complex computations, has dropped and led some crypto miners to shut down their rigs. The 2018 bear market is forcing many miners to operate at a loss, and some are pulling the plug on their operations.
[We do not recommend what investors should do at this stage but we feel compelled to remind everyone that the market for all emerging, disruptive technologies, such as cryptocurrencies, are volatile. Major price dips are to be expected rather than viewed as the end of the market. The reason so few people never buy low and sell high is that, when prices fall, they run for the exit doors instead of seeing it as possibly the opportunity they are hoping for. Click here for additional commentary on this phenomenon.] – GEG commentary
Cryptocurrencies have lost about $60 billion in less than a week following the collapse of Bitcoin, Ethereum, Litecoin, Ether, and XRP, which hit their lowest levels since 2017. Bitcoin tumbled to $4,237, a 13-month low, before regaining some support in the late afternoon session. If $4,207 support is breached, Bitcoin could crash even more to the weekly 200sma at $3,130.
After months of low volatility and declining volume, everything has been flipped upside down, and cryptocurrency bulls are left scrambling after a 30% liquidity gap opened up in the last several weeks.
According to CoinMarketCap.com, digital assets have lost approximately $700 billion of market value since the crypto-mania peak in December 2017. Since the peak, Bitcoin has sustained 87% declines as hash rates have also taken a dip.
According to eToro senior analyst Mati Greenspan, Bitcoin hash rates have fallen to the lowest levels since August, and this has led some crypto miners to shut down their rigs.
Sri Lanka’s police chief issued an alert to top officers ten days ago warning that Muslim suicide bombers planned to hit “prominent churches”. No group has claimed responsibility for the attack, but there has been an increase in persecution and threats against Christians from the Muslim and Buddhist populations.
Zelenskiy’s victory was fueled by reaction against government corruption, the country’s lingering war, and a sluggish economy. Zelenskiy has been accused of being a puppet of Ihor Kolomoisky, a Ukrainian oligarch currently residing in self-imposed exile in Israel.
Marc Lamparello, a philosophy professor who has taught at Lehman College, Brooklyn College, and Seton Hall University, was arrested in Saint Patrick’s Cathedral in Manhattan for suspicious activity. He was carrying four gallons of gasoline, two bottles of lighter fluid, and two butane lighters.
Last week, the United Constitution Patriots, which is an armed group that includes veterans, stopped the movement of 357 migrants who had illegally crossed into the US until the Border Patrol arrived. Weapons were never pointed at the migrants.
As long as people fail to see a difference between their country and their leaders, as long as they think that men become saints and heroes merely by being elected or appointed to public office, we shall have to endure widespread approval of comments like this.
Robert Mueller suggested to Congress that they have a potential obstruction case, which creates an opening for Congress to Impeach the President anyway. The burden may now be on the President to prove he is innocent.
Thai authorities filed a complaint accusing the couple of breaching a section of the country’s criminal code that relates to threatening the sovereignty of a state, and erosion of a state’s independence – these charges carry a death penalty!
According to a poll recorded in 2016, a stunning 67% of Republican voters thought mass immigration was a critical threat, but only 16% of GOP leaders agreed that it was a serious problem. Politicians serve their donors instead of their constituents, which has led to bad US immigration policies and open borders.
The health department has not disclosed the number of people who contracted measles post-vaccination. One doctor cited in the lawsuit argues the current Brooklyn measles cases are not “a clear and present danger to the public health” sufficient to require a mandatory vaccine order.
Instead of releasing asylum sekers, the Department of Homeland Security will have the authority to detain them indefinitely. The effect is expected to discourage new migrants because they will not be able to work and send money to their country of origin if they are imprisoned.
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Goldman Sachs’ startup cryptocurrency company, Circle, is launching the US Dollar Coin, or USDC, with the goal of replacing US currency. Coinbase, which is owned by the Federal Reserve, is on track to become the nation’s crypto-regulatory agency.
BitConnect has closed down its lending and trading platform. Many have called it a ponzi-scheme, because people would loan the anonymously-run site money in exchange for exorbitant interest, depending on the length of the loan. BitConnect’s platform was a multi-level referral system. The site claimed it earned revenue from day-trading crypto coins. The company blamed the closure on bad press, two cease-and-desist letters from securities authorities on the basis that it lacked proper registration, and perpetual DDoS (distributed denial-of-service) attacks on its servers.
Dom Tapscott explains how blockchain technology operates, not just in Bitcoin digital currency, but many other applications. Blockchain removes the middleman in a decentralized system and, by so doing, allows those at either end of value transactions to retain more of the benefit.