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Ripple crashed 50% in one week

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Ripple has been one of the best performing crypto currencies of 2017, started 2018 on a high now crashed more than 50% since Jan 4, after reaching an all-time high price of $3.8

Crypto market started 2018 on a very high note, on Jan 1st, total market cap of all crypto currencies was at around $600 billion which reached the level of as much as $800 billion 4rth Jan, best performing currencies of 2018 were TRON, Stellar,Ripple, NEO, Monero and many others. Most of these currencies saw their all-time highs during first week of 2018.

XRP crashed 50% 

Ripple aka Banker’s coin (XRP) started this year with a bang and reached the level of $3.8 (all-time high) on 4rth Jan 2018, crossed $100 billion in market cap and became 2nd most valuable crypto currency in the world, but then the crash started and as of today XRP is trading at the level of $1.9 and crashed to as low as $1.5

Ripple’s hype got busted by Coinbase

On January 4, Coinbase announced that they are not listing ripple on their exchange, news came in as a negative signal for the market as most of the investors already priced in the listing of Ripple on Coinbase and its availability to US investors, crash started from that date then later on many hypes about the Currency got busted as people realized that Ripple is not as big a product as many investors expected at the start.

Breaking: Coinbase rejected Ripple

Coinbase rejection played a vital role in correction of crypto currency, later on Coinmarketcap announced that they are discounting prices from the Korean Market about crypto currencies because most of the times there are too much of difference between Korean markets and rest of the markets combined, making it more confusing for the investors to follow and analyse the rates, initiative from coin market cap spread more panic among investors as they push selling in the market.

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Crypto Market cap reached $275 billion

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Market cap of crypto currencies reached the level of $275 Billion after a spike on 4rth July 2018, Bitcoin maintaining its dominance at 42% , making it the biggest crypto currency in the world.

Bitcoin price currently trading at around $6700 after a 3% spike in the price , making it jump from $6500 to $6700 within minutes, analysts are predicting that this recent upside movement in crypto market in weak and need to sustain these levels in order to attract more buyers, otherwise overall bearish market is still in control.

$7000 is a key level for Bitcoin 

$7000 is very important level for bitcoin according to many technical analysts, If it breaks above $7000 and stays there then chances are that upside move will be healthy, otherwise bear will look forward to take control of the situation again.

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Switzerland merging Cryptocurrencies with conventional banking

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Switzerland is on the right track to become a Crypto nation and country is making efforts to allow cryptcocurrencies to fully access conventional banking .

Bitcoin and other crypto currencies has taken a big hit in brutal bear market of 2018 but that’s not stopping Switzerland to allow cryptocurrencies to fully access conventional banking system within the country. Switzerland is currently in progress and drafting rules and regulations for such collaborations.

Heinz Tännler, Swiss expert & finance director of Zug canton, told media earlier that politicians were moving to allow crypto companies to work with banks, adding that Switzerland’s central bank, financial supervisor and federal government “are willing to help”.

He said: “We hope to clarify relationships by the end of the year at the latest.

“Time is pressing, other jurisdictions such as Malta and Singapore are very active and making a lot of effort to attract these companies. The lack of access to bank services is a significant competitive disadvantage.”

“We have to push certain national institutions to resolve this problem quickly and effectively, but that now seems to be going well.”

Blockchain becoming the global phenomenon 

The concept of Blockchain is interesting and attractive for all the countries, many countries may disagree on the existence and usage of cryptocurrencies, but all of them agree with the fact concept of blockchain is not going anywhere and governments can benefit from this technology in various fields, but if you ask any expert of blockchain, he would tell you that success of Blockchain technology has to be linked with existence of crypto currencies, without crypto currencies, and ecosystem can’t exist, many governments around the world are slowly recognizing the fact and Switzerland is definitely on the right track if they allow crypto currencies to work in collaboration with the Banks, because many banks around the world are not allowing crypto currencies to offer services through them, but this initiative will open many doors in that regards.

 

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Crypto market stabilizing gradually

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Crypto market is stabilizing around $450 billion market cap after gradual increase in overall value in recent weeks.

Leading crypto currencies are on the rise, lead by Bitcoin, Ethereum, Bitcoin Cash and Ripple. Although increase in bitcoin value is less as compared to other crypto currencies but overall market is on rise with current market of $440 billion.

Bitcoin is currently hovering around the $9300 mark after being rejected at $10000 mark couple of times in last days, Ethereum is on the charge as well but the most surprising one is Bitcoin cash. Bitcoin cash was at $600 couple of weeks ago and now at $1600, shows rapid growth in recent weeks.

EOS

Crypto currency of the month has to be EOS, investors of EOS are enjoying a massive rise in value in past few weeks, EOS started April at $5 mark and now is at $18 , value of EOS increased more than 3 times within one month.

Current top 5 crypto currencies

  1. Bitcoin : $9388
  2. Ethereum: $741
  3. Ripple: $0.83
  4. Bitcoin Cash: $1630
  5. EOS: $18.28

 

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