Your fake money is crashing yet again

Share:

Bitcoin and all the other cryptocurrencies rebounded last week after a two-day bloodbath in which the price of Bitcoin dipped under $10,000 for the first time in months. We told you at the time that you shouldn’t get too excited that prices were climbing again, as a new price drop may be just around the corner. 
It turns out the price drop was closer than we thought, and all cryptocoins were down by at least 10% on Monday morning at the time of this writing.

Bitcoin is still above that $10,000 psychological milestone, while Ethereum dropped below $1,000 again. Ripple, the third largest cryptocurrency by market cap, traded for around $1.21 on Monday, according to data provided by CoinMarketCap.

Ripple’s is the most significant drop, with the coin having lost more than 17% of its value compared to Sunday’s prices — Ripple has been sliding for a couple of days now.

Why are prices dropping again? There’s no good answer right now. Fears persist that more regulation is looming, and some investors may be worried about losing the fortunes they’ve already invested in Bitcoin and other coins. Reports last week that South Korea and China are looking to regulate the crypto exchange business led to the price crash we talked about a few days ago. – READ MORE

[give_form id=”79809″] [divider][/divider]

A church in Zurich, Switzerland, is bringing the age-old act of tithing into the 21st century with the acceptance of cryptocurrency transactions.

The International Christian Fellowship church is hopping on the trend in the hopes that cryptocurrencies such as Bitcoin will soon become integrated into everyday life.

Nicolas Legler, a spokesperson for the ICF Church, told Swiss media Wednesday that “Digital currencies and the blockchain technology will change our daily lives more and more in the next years.”

“Cryptocurrencies will be implemented, be it Bitcoin or other currencies controlled by the State,” he added. “We are convinced that this technology will soon belong to our daily lives.”

As noted by Newsweek, ICF Zurich is one of the largest churches in the country and promotes itself as cutting-edge and modern to keep up with its young members.- READ MORE

[give_form id=”79809″] [divider][/divider]

The US Marshals Service announced Thursday that it will hold an auction next month to dispose of 3,813 bitcoins, worth a cool $52 million at today’s price. The coins were seized in “various federal criminal, civil, and administrative cases”.

Selling off Bitcoin is a routine process for the US Marshals Service, but the recent boom in cryptocurrency has meant that the enforcement arm of the judicial system is now essentially gambling in crypto-currency. Given the massive price swings that Bitcoin has experienced in the last three months, the precise timing of an auction could have huge implications for how much money the courts receive. But for investors, the simplistic nature of the auction and the large number of coins involved present a one-off opportunity to make a tremendous profit.

Prospective investors have until January 19th to register, and wannabe investors will have to put down a $200,000 deposit before the auction to prove that they’re serious. The coins are being auctioned off in blocks, rather than individually, which is what makes this particular auction interesting. The smallest block is 500 coins, worth around $1.4 million. Large volumes of Bitcoin are not traded as frequently as you’d believe, as most transactions involve a fraction of one coin. Investors may well be able to buy a block for below current market value, and then arbitrage it off in smaller pieces to turn a quick profit. – READ MORE

[contentcards url=”http://bgr.com/2018/01/22/bitcoin-vs-ethereum-vs-ripple-prices-drop/” target=”_blank”]
Share:

2021 © True Pundit. All rights reserved.