Market Summary: 12/21 – 12/28
Bitcoin seemed to stabilize around Christmas Eve around December 24th, but steadily decreased to a floor around $318, going back up to $330 and plummeting down to $310. As described in my last market analysis, I predicted this movement two weeks ago. People liquidating holdings for holiday cash, as shown by the massive sell-offs today. Since the end of November, we have fallen from a price of around $380 and reached a price of $318.73 as of the time of writing. This is a 16.2% decrease in price in just a month, which averages out to a 4.05% decrease every week since the end of November. If....
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With the second week of the New Year now behind us, Bitcoin is slowly but surely stabilizing. With CES coming to a close, as well as the Bitcoin booths that were there, more and more people are becoming aware of the online currency has grown to a tight-knit group of people hoping for its success across the globe. This week’s market summary will break down this weekend, to show how especially unstable Bitcoins price was, and how different the outlook on Bitcoin can be in the matter of 24 hours. Since last week’s crash, Bitcoin has stabilized to a price of $285.42, according to CMC at time....
Cryptocurrency supporters all around the world are celebrating the fact that today is the 12th anniversary of the Bitcoin white paper, a summary of the invention created by the pseudonymous inventor Satoshi Nakamoto. Bitcoin’s inventor published the paper on metzdowd.com’s Cryptography Mailing list and ever since then, the financial world hasn’t been the same. 12 years ago, Satoshi Nakamoto decided to let the world in on Bitcoin, the peer-to-peer electronic cash system that took the world by storm. The very first time Nakamoto published the paper was at 2:10 p.m. Eastern....
A commonly quoted piece of advice that is the theme of this market analysis is one by Baron Rothschild, an 18th-century British man who was also part of the famous Rothschild banking family. The quote goes “Buy when there’s blood in the streets”, but I’ve also heard “even if it is yours” appended to the end. I cannot confirm origin nor legitimacy of the appended ending, but it further proves the point and theme of this week’s Market Analysis. With the New Year just starting, Bitcoin is starting the year with the same downward trend as of last year, which is discussed in the previous....
Bitcoin Analysis. Bitcoin has been increasing consistently over the last seven days, to a currency price of $244.58. The last time we saw this price was before the crash where Bitcoin took a 40% dive in two days, which is discussed in the previous Market Summary. We started this week with Bitcoin under $200, and has increased by approximately 25% over the duration of this week which I believe is due to one critical information of news: the Winklevoss Twins. Gemini: Winklevoss Twins Exchange. The Twins originally got into Bitcoin in 2012 reportedly having $11 million in Bitcoin, and in 2013....