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.
Judicial Watch filed a bar complain against Democrat Senator Sheldon Whitehouse after he openly threatened the Supreme Court in an amicus brief that warned the Supreme Court to “heal” or face drastic restructuring by packing the court with more justices.
David Koch was liberal in his support for abortion rights, gay rights, drug legalization, and open borders for cheap labor. The Kochs support Van Jones’ Cut50 project, which aims to halve the prison population over the next decade. The Kochs also support censorship.
Over the last month alone, four illegal aliens have been arrested on rape charges in Montgomery County. Marc Elrich, the county executive, claims that Trump and ICE are committing acts of “terrorism” by trying to enforce the law because it brings fear to the community.
Overstock founder and CEO, Patrick Byrne, resigned last week amid ties to a government probe related to the 2016 election. He made the wild claim that he received “fishy” orders from former FBI official Peter Strzok to have a romantic relationship with a young Russian woman, Maria Butina.
New York Times Executive Editor, Dean Baquet, instructed everyone to be alert to ways to shift the anti-Trump-news narrative from Russia Collusion to racism. He said, “…race in the next year is going to be a huge part of the American story.”
President Trump re-tweeted a comment by conservative talk show host Wayne Root, a Zionist, who said: This is the greatest president for Jews and for Israel in the history of the world. And the Jewish people love him like he is the King of Israel. They love him like he is the second coming of God”.
The ADL organized the ‘After Charlottesville Project’ initiative aimed at combating “online extremism” that receives funding from Charles Koch and the George Soros Charitable Foundation. Both progressive and “conservative” elites hold the common goal of removing free speech.
Socialist Bernie Sanders’ plan for a Green New Deal will cost $16 trillion, which amounts to $50,000 for each man, woman and child in America. Sanders’ plan promises to create 20 million jobs and reach 100% renewable energy for electricity and transportation by no later than 2030.
Ivanka reportedly spoke to a group of GOP donors about women’s empowerment and said the White House is focusing on “background checks,” “culture shift,” “mental health” and “red flag laws.” Hillary couldn’t have said it better.
Tim Donnelly says the elite in Mexico have nullified the Treaty of Guadalupe Hildago of 1846 and now accuse America of stealing the southwest, which they say is really still part of Mexico, and they support a silent invasion by immigration.
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Ohio’s Treasurer, Josh Mandel, says he will accept tax payments from businesses in digital currency. Mandel says he is empowered to make this decision decide “without approval from the legislature or governor,” because he is an elected official.
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.