EMC2 being bought by Apple 🔥 It's Fake News?
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As the markets are entering the final stretch of 2017, the weekly behavior of Bitcoin and altcoins is becoming more extreme, with dramatic pumps and slumps as Bitcoin reached $20,000 on Korean markets.
Bitcoin sent jitters when it was $10,000, but at $20,000 on Korean markets, it is just wait-and-see. A correction of $3,000 in a few hours already seems reasonable in proportion to Bitcoin's price, as well as the rise of $3,000 in less than two days.
traded with a large disparity of around $1,000 between fiat-fuelled exchanges like GDAX and Bitfinex, where the last injection of liquidity USDT tokens happened on December 2. This reveals the role of Tethers and their limitation to lift the
price, which responded much more to an inflow of Korean Won and US dollars where such trades are allowed.
Bitcoin (BTC) continued to break out to new heights, last seen above $20,000 on Bithumb and commanding a higher price on Korbit. But the volatility also increased, gaining or wiping out nearly 10% in one hour on absolute record volumes above $21 billion in 24 hours.
Bitcoin's gains shrank to 36% in the past seven days, the coin is down more than 6% net in 24 hours and has sank by more than 9% in one hour as the US trading was about to start. This is Bitcoin's last week without the effect of futures trading, and after December 10, a new and unexpected factor may pressure the coin. The price dominance of BTC expanded above 64% at the current prices of $14.336.90.
Ethereum (ETH) met with technical problems and sank back toward the $430 levels, Ethereum (ETH) met with technical problems and sank back toward the $430 levels Einsteinium Coin Mining Pool , a distributed game requiring much gas to run two smart contracts.
Bitcoin Cash (BCH, BCC) again fights the good fight, if not for a flippening, then for challenging the out-of-this-world vertical rise of Bitcoin. Toward the end of the week, the Bitcoin Cash network regained mining pools, and the price of the coin rose by more than 12% in 24 hours. Since then, BCH sank a bit to $1,408.05.
IOTA (MIOTA) climbed up the charts as it totally changed its market price profile, breaking above $5 for a short spell before wiping out a third of the gains. MIOTA sank to $3.93 on Friday, after regaining nearly 20% on the Asian markets in one day. At this point, MIOTA is struggling to keep the gains while hoping real-world adoption happens soon, as the asset is still comparatively thinly traded.
Ripple (XRP) survived quite well the short-term boom and bust cycle, steadying at $0.24, down just 1.38% in the past seven days, but gaining around 8% overnight on news of an
DASH (DASH) showed capable of keeping the range above $750 and shot upward after a mid-week slump. Ahead of the weekend, DASH rose by 12.98% overnight to $766.04, showing it had a different trajectory from BTC.
Litecoin (LTC) once again clung to the newly acquired range around $100, moving by less than 5% in 24 hours, a relatively low volatility compared to other coins. LTC added 5% in the past day to $101.57.
Bitcoin Gold (BTG) was back in top 10 after competing with Monero, but still trades weakly below $300. BTG is down a net 17% this week to $248.08.
Monero (XMR) continued with another strong week, breaking records above $300 as it rose not only against the USD, but was one of the few coins to gain ground against BTC. XMR is up 38% this week to $251.06, but enters the weekend with a slump of 8% in the past day, losing more than 5% in one hour of trading. But XMR may be in for the long game, relying on its appeal as an anonymous coin.
Cardano (ADA) relaxed from its heights, down to $0.10, losing a net of 15% this week as the drop accelerated ahead of the weekend. ADA rose to a peak above $0.14, but the pump is unraveling now.
Ethereum Classic (ETC) could not hold to the positions above $30 and sank toward $25, losing 9% in the past seven-day period and accelerating the drop in the last hours toward $25.90.
NEO(NEO) was again making its own trajectory, rising toward $38, a net gain of 6% this week. NEO reached $36.85 this Friday, trying to move away from Bitcoin's gravity.
, with many coins almost doubling in price and reaching all-time highs.
touched $10 again before sinking to $7.88, up 64% this week.
(EMC2), a long-underappreciated coin, gained more than 241% in the past seven days to $1.91, although it started to slump again, down more than 19% ahead of the weekend.
reached $400 billion, the size of some of the largest corporations- and all the prices still remained dominated by Bitcoin. The overview is a temporary snapshot, with sharp moves still very probable as trading has seen a rather dramatic week of pumps, records and crashes.
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