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.
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.
One look at the NVO chart suggests it's headed for a crash. Its trading volume today was about $25,000.
Newbium is another amusing crypto. It's 24-hour trading volume was about $500.
Medium of Exchange?
Forget about it.
Be Careful of What You Wish
Mike "Mish" Shedlock