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Bitcoin-rivals ethereum, Ripple's XRP, bitcoin cash, litecoin, EOS and binance coin were also heavily sold off, wiping billions of dollars from the combined cryptocurrency market capitalization. The bitcoin price has been swinging wildly over recent months as traders and investors try to guess The cause of the sudden sell-off was not immediately clear, however, analysts have noted a drop in crypto market trading volume recently. Perhaps, a little too quiet," Mati Greenspan, the founder of bitcoin and crypto research outlet Quantum Economics wrote in a note ahead of the bitcoin sell-off today, adding the dominance of the world's biggest stablecoin, tether, "seems to be waning.
Earlier this year, bitcoin and cryptocurrency price watchers warned that "dismal" bitcoin volumes could mean the market was headed for a perfect storm. In periods of low trading volume, crypto prices are more vulnerable to so-called whales moving the market by placing massive buy or sell orders at a little above or below current market rates. These can trigger trading algorithms that then send prices sharply higher or lower and can be a sign of market manipulation.
PlusToken scammers are thought to have sold some 25, bitcoin, according to Chainalysis data, with a further 20, still to be dumped back onto the market. I am a journalist with significant experience covering technology, finance, economics, and business around the world. As the founding editor of Verdict. I write about how bitcoin, crypto and blockchain can change the world.
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He was one of many enthusiasts to insist the event was an important step in the quest for mass cryptocurrency adoption. Pompliano announced through his popular Twitter account.
That indeed could be the case, or it might also be a deep wish as fans of digital eyhereum slog through a brutal bear market. YF is, of course, a subdivision of Yahoo! YF has been around for over two decades, a go-to source of information about stocks and financials. Bitcoiners of a certain trading bitcoin ethereum and litecoin will bitxoin YF as a first glimpse into the power of net information and aggregation.
Nowadays, it is less viewed as innovator, and more as a melange, a giant salad of financial information through news, commentary, financial reports, assorted original content and a staple at conferences, along with the usual http://trackmyurl.biz/digital-wallet-for-cryptocurrency-8017.html of press releases and housing of data.
It is just as likely to be seen as a reliable source of financial reporting. It was gobbled up last summer by Oath Inc, a subsidiary of Verizon. It now claims to be among the largest business news websites in the US. Hints of the broader company dabbling in crypto actually came a few months earlier, spring of this year, when its Japanese wing asserted it would purchase a healthy amount of crypto trading platform Bitarg Exchange Tokyo with hopes of launching its own exchange in the spring of Is Yahoo!
Let us know in the comments. Edward Kelso has written hundreds of articles as a journalist covering a range teading topics from international finance, regulation, to cryptocurrency philosophy, interviews with luminaries, and book reviews. Share this story:. Edward Kelso C. Dec 18, Dec 13, Dec 6,