Another Dead Cat Bounce?
The cryptocurrency overall bloodbath reversed a bit today.
Nineteen of the top twenty cryptocurrencies as compiled by Investing.Com were in the red as I started this post(shown below).
In the time it took to finish this article (primarily looking up cryptos I never heard of), most of the major cryptos went into the green for the day.
Is this another dead cat bounce or the start of a reversal? No one knows, but I suspect the former.
Like yesterday, there were some huge winners.
Crypto Lottery Winners 2018-01-17
Your winning numbers in today’s CryptoLottey are: 1410, 452, 736, 731, 230. The tiebreaker is 687, drawn randomly from a pool of winners.
TeraCoin
If you bought TeraCoin yesterday, congratulations! You are up 578%, assuming you can cash out. If you bought a week ago you are up 50%. If you bought prior to that, you are likely underwater, and massively so.
By the way, note the volume and market cap at roughly 0%. Today’s trading was on the order of $200.
Ethereum Movie Venture
The Ethereum Movie Venture coin likes to bounce from a range of $0.06-$0.20 to $1.00-$2.50. Total trading volume in the past 24 hours was under $2,000 so don’t expect to buy big or cash out big.
NVO
One look at the NVO chart suggests it’s headed for a crash. Its trading volume today was about $25,000.
Newbium
Newbium is another amusing crypto. It’s 24-hour trading volume was about $500.
Medium of Exchange?
Bitcoin has nearly halved in value since its peak in December. The cryptocurrency is too volatile to be relied upon as a medium of exchange. https://t.co/FxgfMoCJr9
— Steve Hanke (@steve_hanke) January 17, 2018
Forget about it.
Be Careful of What You Wish
Mike “Mish” Shedlock
It is true that I get less cold calls than i used to, but I still get far too many. Credit card processors, health insurance, “your credit card, about your too high interest rate”, “congrats you’ve won a free cruise”, “your car warranty is about to expire”, and website marketing top the list for the last year. Their chances of a sale are 0, but they keep calling. Not one call for cryptos….yet.
@Carl_R Cold calls is so old school – now you just get spammed while online.
Just curious, but has anyone reported getting telemarketing calls from boiler rooms pushing various cryptocurrencies? If not, I wonder why not? I used to get calls from penny stock shills, then gold shills. Not that I ever bought anything from them, but if I start getting calls from shills pushing opportunities to get into the hottest new crypto at a cost of pennies, it might be a good sign of a top of some kind.
KodakCoin not launched yet – just announced – I believe
I don’t see KodakCoin on the list!