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Bitcoin Price | Another Sudden Sell-Off After a Steady Month

At this point, there doesn’t need to be a reason for Bitcoin price to drop suddenly. The market is so volatile by nature it is almost pointless to look for why. So, in true fashion, yesterday’s sudden sell-off confirms just that.

There was no major market news reported, and despite this, Bitcoin price dropped 10% in a 24-hour period. Go figure.

The drop ended what was a (relatively) steady month for the coin.

Bitcoin Price Drop

Of course, where Bitcoin goes, others tend to follow, and so the entire market entered another period of sell-offs yesterday. Until this point, you could almost believe that the market would recover from December 2017’s mighty crash.

At the time of writing, Bitcoin price is valued at $3,693.

Crypto Market

The Bitcoin price decline was bad, but it wasn’t the worst. Other altcoins fared worst yesterday. Some of the day’s biggest losers included Ethereum (ETH), which traded down 15.4% selling for $126.31. Ripple (XRP) was also down 11.1% selling for $0.33. Litecoin (LTC) was down 14.9% at $32.99, and Bitcoin Cash (BCH) was down 16.8%, selling for $131.92.

According to CoinMarketCap, the entire cryptocurrency market value was down 10.6% in the 24-hour period, standing at $122.7 billion.

>> Bitwise Files Bitcoin ETF With SEC: Another ETF Hopeful

Volatile

As stated, the crash needs no explanation, and no doubt won’t be the last. Bitcoin is a different looking coin in 2019 than it was in 2017. At its current value, Bitcoin price is down 80% what it was worth from its peak in December 2017.

It is for this reason that many people are torn over cryptocurrency’s ability to serve as a viable form of currency usable in everyday situations. The underlying technology of the blockchain underpinning every coin is considered a technological achievement useable for many purposes. The coins, as a payment system, however, tell a different story.

Featured Image: Depositphotos © sinenkiy

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Bitcoin Price | Holding Steady Near $3,800, Corrections Across the Market

Bitcoin price is currently down 2% on the day and selling for $3,792. Today’s action is reminiscent of previous days in the week where the coin has dropped a few percents but then gained a few more and vice versa.

Bitcoin Price

Disappointingly, the coin has failed to break back above the $4,000 mark that it fell below one month ago. It seemed like it might do that this week, as we saw several bursts. However, Bitcoin price remains steady as it holds firmly, and predominantly, between the $3,800-$3,900 price points.

Despite today’s red hue, overall, Bitcoin price is trading up 3.5% on the week. We are in a very strange time for Bitcoin, and it’s hard to predict if this trend will stay much longer or if there is another dramatic fall on the horizon. Comparatively to the beginning of 2018, Bitcoin in 2019 looks set to be a totally different beast.

Top Twenty

All the top twenty coins today are seeing some further corrections after the market tipped into the red yesterday.

Ripple’s XRP has lost even more than Bitcoin. XRP is down over 3% and selling for $0.35 at the time of writing. This brings the coin close to full circle on its weekly and monthly charts.

Also down is recently forked Bitcoin SV (BSV), IOTA (MIOTA), and Bitcoin Cash (BCH). All these coins are experiencing bigger losses around the 4% mark.

>> EOS and Ethereum (ETH) Update, is 2019 Their Year?

Ethereum (ETH)

Ethereum is putting Bitcoin price to shame. The second largest coin by market cap is the only gainer in the top ten today.

It is in the green only by 0.5% and selling for $150 at the time of writing. But on its weekly chart, ETH is fairing much better as it is 28% in the green. It has also grown an impressive 34% on the month.

Ethereum looks set to capitalize from the launch of new European digital trading platform DX.Exchange. The platform offers fully EU-regulated, tokenized stocks on the Ethereum blockchain and kicks off next week. Excitingly, DX uses Nasdaq’s Financial Information exchange (FIX) protocol to deliver the product.

Featured Image: Depositphotos © leungchopan

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Bitcoin Price | Spencer Bogart Says Lower or Higher, Either Way it’s Good

As we wrap up 2018, crypto players are starting to publicly come out with their Bitcoin price forecasts for the new year. Some are bearish, using the fact that BTC was nearing $20 thousand this time last year. Others, however, continue to be bullish. Spencer Bogart of Bitcoin Capital is one of the latter.

Spencer Bogart Remains Bullish of Bitcoin Price

In a recent interview with CNBC, when asked whether he believes BTC will hit $50,000, Spencer Bogart said yes, but maybe not as soon as bulls are forecasting.

“Absolutely it can go that high,” said Bogart, “how long will it take, I’m not sure.” That’s a different but realistic approach to the future of Bitcoin price, compared to someone like Tom Lee, who reiterated his $15 thousand year-end prediction last month.

What Caused the Downward Slide?

The crypto market is aware of the downward tumble in the Bitcoin price. However, players remain divided as to what the cause of it was. Was it because Bitcoin was never meant to succeed? Just another Ponzi scheme? Bears may agree. Or, was it because of the individual players buying the digital currency, not being mature enough to learn the ropes before climbing up them?

For Spencer Bogart, co-founder of Bitcoin Capital, he is of no opinion. He is simply ignoring the BTC price.

Bogart said that if you ignore it, it becomes evident that 2018 has been a “fantastic year” for the digital currency. “This is the first year we have started to move to scale Bitcoin with a lightening network where you can transact extremely quickly and extremely cheaply,” explained Bogart.

>> Has Tether Told the Truth All Along? Bank Statements Say 1 For 1

A Signal to Buy In?

In the CNBC interview, Bogart said: “I think it’s a great buy in opportunity right now.” Does he deny that Bitcoin will probably drop lower? No; “Could we go lower?” Bogart asked, “absolutely.” But that’s what makes it such a great opportunity. “I think anywhere between here and $2,000 and $1,000 is a great buy in opportunity.”

He added that in 24 months, people may look back and say “why didn’t I buy now?” The interviewer didn’t seem to support the idea as much, jokingly responding back saying “I hope so. I hope it’s not more of a question of why did I buy then?”

The Takeaway

Some people are worried about the Bitcoin price lingering around $3,000, but Spencer Bogart is not one of them. Everyone is different, though.

What direction do you think BTC is headed in for the new year? Let us know in the comments below.

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Lolli App Lets You Earn Bitcoin While Shopping at Sephora and More

Do you shop frequently at Sephora? Lululemon? Walmart? If you do, a new in-browser app has emerged and wants to give you Bitcoin (BTC). CoinDesk just reported that the app called Lolli just added Sephora to their list of retailers.

Earn Bitcoin (BTC) While Shopping

Lolli gives shoppers cash back after they make purchases at their list of partnered retailers. The Bitcoin rewards startup told CoinDesk that it recently won over Sephora by data. Around 30 percent of Lolli’s active users are women.

“We’ve gone back to a lot of these retailers that previously were not interested but now are coming on-board,” Lolli CEO Alex Adelman told CoinDesk. “One of the biggest ones that just joined us is Sephora, which adds an entire suite of retailers in the beauty category.”

Lolli is also partnered with Sephora’s biggest competitor, Ulta. These retailers pay Lolli for customer referrals in fiat currency, which in turn is converted into Bitcoin for rewards in the app. Many crypto-based startup companies have faced vast layoffs this year, due to the bear market. However, Lolli has only six employees and is gaining some traction.

>> Crypto Users Increased to 35 Million in 2018: What Will 2019 Bring?

Adelman told CoinDesk that Ulta is a huge retailer for the startup company. The tech CEO also claims that men and women alike were consistently requesting Sephora. To earn rewards on Sephora or Ulta, users just have to install the app in their Chrome browser and shop normally. So far, Adelman claims 60 percent of Lolli users become repeat shoppers.

Lolli is currently partnered with 500+ popular retailers. You can earn Bitcoin (BTC) through Lolli by shopping online with these major retailers: Barnes & Noble, Overstock, FinishLine, Michaels, Toms, Macy’s, Walmart, CVS Pharmacy, Lululemon, Groupon, and VRBO.

The Bitcoin startup was launched back in September of 2018, and it has raised $2.35 million so far. On average, Lolli pays out $10 per purchase in BTC.

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Bitcoin (BTC) up Nearly 20% in 48 Hours

Bitcoin (BTC) made a rather dramatic comeback just 48 hours ago. At press time, the world’s first digital currency is currently trading above $4,300. The entire crypto community is buzzing, as most altcoins have followed BTC’s upward movements.

Bitcoin (BTC) Comeback

The cryptocurrency community took a huge hit in mid-November when Bitcoin Cash miners started a hash war. Investors lost confidence in the maturity of the community, as the war dragged out after Bitcoin Cash split in two. On one side was Roger Ver, CEO of Bitcoin.com, who led the Bitcoin ABC movement. On the other was Craig Wright, also known as ‘Faketoshi’ by the crypto community, who led Bitcoin SV.

Very much like the split of the Ethereum blockchain with Ethereum Classic, Bitcoin Cash was split into Bitcoin SV and Bitcoin ABC. During that mess, Bitcoin (BTC) and most altcoins began to plummet. While the Bitcoin Cash mess hasn’t fully cleared, it seems investors have gained their confidence back in crypto once more.

There has been a lot of crypto-positive news that has debuted this morning—which should boost investor confidence even further.

As for the news in the tweet above, it remains unclear how many businesses will actually use this means of paying taxes, but it is a positive movement for the crypto community. Perhaps the biggest Bitcoin news of the day came from the Chairman of the New York Stock Exchange (NYSE).

Yesterday, at the Consensus conference, Jeff Sprecher was asked, “Will digital assets survive?” “The unequivocal answer is yes,” Sprecher replied. “As an exchange operator it’s not our objective to opine on prices.”

He went on to explain that there are thousands of digital tokens out there that can be argued are ‘better’ than Bitcoin, and yet it continues to survive and gain mainstream attention.

Sprecher continued:

“Often times in finance, it’s not about being the best—it turns out to be about being the broadest and the most commonly accepted and for whatever reason bitcoin has become that.”

>> Will Bitcoin (BTC) Hit $15,000 Again? Tom Lee Thinks So

Bitcoin (BTC) Price

According to CoinMarketCap, BTC is currently trading at $4,318.29 a coin, up 2.93% in 24 hours.

Featured Image: Depositphotos/© mmaxer

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