Cryptocurrency Prices for the 13th of June: BTC and ETH Are Quickly Falling in Price

bitcoin price

According to the trading portal Coinmarketcap.com, Bitcoin (BTC) added about 4.7% over the past 24 hours. The price at the time of writing is $6551.

Almost all of the cryptocurrencies in the rating are in the red zone with a significant decrease. For example: Ripple lost 8.4%, Bitcoin Cash fell by 9.5%. EOS decreased by 11.7%. One of the largest fall indexes belongs to Ethereum Classic – it lost 15%.

Ethereum lost 10.2% over the past 24 hours. Its price fell below the price point of $500. Trading is conducted at $481 per coin.

The total market capitalization significantly decreased, having lost almost $20 billion, and currently is $278 billion. Bitcoin accounts for 40% of the total amount. It is $111 billion in monetary terms.

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Akon: Nobody Knows What Cryptocurrency Is, But It Doesn’t Mean You Should Not Invest Into It

akon talks crypto

The famous American rapper Akon, the author of such hits as Smack That and Right Now, seems to be very interested in cryptocurrencies. First, he announced the launch of his own digital coin – Akoin – which is supposed to be the currency of a crypto city in Africa.

While the details of his ambitious plan have not yet been revealed, Akon keeps researching the possibilities of the crypto world. Recently he gave an interview where he discussed the financial situation in Africa and his vision on cryptocurrency.

When the interviewer said he did not quite what cryptocurrency was in the first place, Akon’s response was simple – “Nobody does.” The rapper actually finds digital assets very similar to regular company shares.

You know they’re going to yield an investment. You go there with your money because you know, these guys, in the next four, five or ten years, their projection said they are going to make triple what they are making now.” – he mentioned.

In the end, Akon said he would keep studying the subject and would do everything in his power to improve the difficult situation in Africa.

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Elon Musk Turned to the Creator of Dogecoin for Help in the Fight Against Twitter Scammers

musk needs help with crypto spammers

The CEO of Tesla Motors, entrepreneur and engineer Elon Musk published a message in his Twitter meant for the creator of the cryptocurrency Dogecoin Jackson Palmer with the request to invent a way to deal with crypto scammers on the social network.

A few minutes later, Musk received a response with an invitation to use a script that would resolve the issue with the scammers. Judging by the message of Dogecoin’s creator, Elon Musk used it.

https://twitter.com/ummjackson/status/1041577055970893824

We remind you that Elon Musk had to deal with Twitter fraudsters not once and not twice. Bots with offers to receive different cryptocurrencies for free were attacking Musk so much that he even started writing brilliant responses to them. Later, the social network management even began to block accounts containing the name of Elon Musk.

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McAfee Birthday Collection: Top-5 Eccentric Statements, Promises, Innovations and Scandals

john mcafee birthday compilation

The editorial board of The Coin Shark wishes happy birthday to the most unconventional crypto personality John McAfee and hopes he will thrive and please the crypto community for many more years.

For this occasion we decided to compile the loudest things that McAfee has said or done this year.

1. There is no doubt that the wildest promise of John McAfee remains his infamous claim about the price of Bitcoin in 2020. The interesting part is, of course, related to the physical tortures that McAfee is ready to face if his predictions turn out to be wrong.

2. Another loud claim of McAfee was his firm intention to run for presidency during the next election. Given the low levels of popularity that the current US President is coping with, we believe that anything might happen at this point. Politics aside, no doubt that the crypto world will be thrilled to have such a president.  

3. We could not leave out the epic with McAfee’s crypto wallet Bitfi. Was it really hacked? Was McAfee planning to give such a pricy award? We don’t know. However, what we do know is that the story brought a whole lot of attention to the wallet, so maybe it was an ultimate goal in the first place.

4. The CoinMarketCap should beware, because John McAfee is on its toes. His own site with market capitalization and cryptocurrency exchange rates is already functioning.

5. Last, but certainly not least comes the McAfee crypto challenge. Brilliant minds with innovative crypto solutions can join his team to improve and develop the crypto world together.

Anyway, even if John McAfee does not eat any parts of his body or loses the run for presidency, he will always remain one of the brightest stars of the crypto universe. Happy birthday, John!

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Bitcoin and Ethereum Price Analysis Today on the 18th of September: Cryptocurrencies Collapsed Again

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency prices

According to the online platform Coin360, Bitcоin (BTC) lost 3.07% in the past 24 hours. The price at the time of writing is $6286 per coin.


Source: https://coin360.io/

In the past 24 hours Bitcoin reached the highest mark for the day at $6452, later it fell drastically to $6338 and then fell to $6257 per coin. At the time of writing BTC added about $30.


Source: https://coinmarketcap.com/

In this time interval, we can observe a downtrend.

The remaining cryptocurrencies fell into the deep red zone:

Bitcoin Cash lost 7.23% over the past day and costs $414 per coin;

Ripple dropped by 2.50% and is worth $0.27;

EOS fell by 9.17%, and its price is $4.86;

Litecoin lost 7.79% and its value is $51;

Cardano fell by 7.69% and is worth $0.063;

Stellar decreased by 3.51% and costs $0.19;

IOTA lost 6.01%, and its value is $0.53;

Dash lost 6.58%, and its price is $182;

Monero became cheaper by 7.89% and is worth $107.

Ethereum reached the highest mark of $221 in the past 24 hours. A few hours later, ETH dropped to $195. At the time of writing, the price of the coin is $197.


Source: https://coinmarketcap.com/

The total market capitalization dropped to $192 billion. Bitcoin accounts for 56.3% of the total volume. In monetary terms, this is $108 billion.

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Bitcoin Price Prognosis: How the Capitalization of the World’s First Cryptocurrency Will Change Over Time

bitcoin capitalization

We often hear different economic terms to be used in relation to cryptocurrencies – volatility, capitalization, price, value, etc. Today we are going to talk about Bitcoin‘s market capitalization and will see whether this digital gold really constitutes any significant part of world’s assets.

Contents:
(please, click the topic to scroll down to it)

  1. What is market capitalization?
  2. Bitcoin capitalization
  3. Prognosis
  4. Conclusion

1. What is market capitalization?

Market capitalization is quite a broad term. However, the first association that comes to mind is,of course, stock market. There is no single opinion on cryptocurrency but cryptocurrency can be called a financial tool that resembles both, money and shares. There is market capitalization of valuable securities, joint-stock companies and the whole market. Respectively,It is the price of a share, all shares issued by a joint-stock company and aggregated cost of all shares that circulate on the stock market. Back to the cryptocurrency, in simple terms market capitalization is an index of a total cost of all the coins. Market capitalization level depends on the cryptocurrency rate and they jump up and down together.

2. Bitcoin capitalization

Bitcoin is the first cryptocurrency in the world that was created in 2009. Today  more than 17 million coins circulate in the world and the maximum possible volume of mined BTC is restricted to 21 millions. Such a size of Bitсoin emission is layed down in the cryptocurrency code and cannot be changed. One of the important functions of this model is inflation prevention.  Only the fifth part of all the cryptocurrency reserve is to be mined and it will be done many years later. Considering the fact that every 210,000 mined block (one time in four years in average) slows down bitcoin mining two times when every new cycle begins. This formula allows to calculate that mining of 99% of all BTC will take 28 years and  mining of the last 1% will take more than 100 years!

However, back to the topic of the first cryptocurrency capitalization. In  2016-2017 Bitcoin became a synonym to bumper profit and goodwill. Digital currency was growing so fast that its holders didn’t have enough time to celebrate every new pick that the BTC rate reached day by day. Many people raised good money at Bitcoin and some people made even decadently big money,considering the fact that it wasn’t necessary to make efforts to gain the profit. The same way, cryptocurrency is associated with easy money, fast profit and other attractive things. At the same time there are more and more opinions about the significant impact that cryptocurrency has on world’s economy. Some are concerned that further development of uncontrolled decentralized financial systems are dangerous, while others think cryptocurrencies can create a really free economy of the future where everyone is their own central bank. However is cryptocurrency and Bitcoin in particular really a big issue for the world’s economy? In other words, is the digital gold really a big part of world’s capital? Well, figures from the CoinMarketCap can help figure it out.

So, today (mid-September, 2018) the total cryptocurrency market capitalization exceeds $190 billion which is by the way 4 times less than in late December, 2017 – early January, 2018. Back then the total cost of all coins circulating on cryptocurrency exchanges was almost $800 billion. It may seem really a lot, but in fact even back then the whole cryptocurrency market was worth less than just a single company – Apple. August 2nd, 2018 the total cost of all stocks of this company exceeded $1 trillion. Given that the stock market capitalization currently amounts to more than $65.5 trillion, cryptocurrency market capitalization looks rather small.

So what place does bitcoin have in the cryptocurrency market capitalization?

As a number of altcoins appeared and started developing, bitcoin dominance gradually decreased. In 2013 it exceeded 92%, and decreased almost by 10% until 2016. In summer 2017 bitcoin dominance was hardly 40% and Ethereum was snapping on its heels. Today BTC dominates, having 57% and the index started increasing since May, 2018.

Anyway, back in 2012 bitcoin market capitalization was only $0.06 billion while in December, 2017 it exceeded $336 billion. Today it is a bit higher than  $100 million and one BTC costs around $6.4 thousand.

3. Prognosis

As we already mentioned, the level of bitcoin market capitalization depends on the cost of every particular BTC. Today the cryptocurrency market seems to be starting to recover gradually from the rapid decline in the first half of 2018. At the same time, some experts believe that what we could observe in spring, 2018 was not really a collapse but just a correction of the rate after an unnaturally large increase in the end of 2017, when BTC was traded at $20,000 per a coin. In February, 2018, Jesse Powell, CEO and founder of a large U.S.-based cryptocurrency exchange called Kraken, told CNBC that capitalization of the cryptocurrency market could reach $1 trillion in 2018. So he basically expects it not only to recover lost ground but also increase its economic power. Moreover, it still remains an open question whether institutional investors finally “jump” into the cryptocurrency market, which will positively affect its capitalization. In July 2018, in a talk about bitcoin Maxim Balashevich, founder of an analytical company Santiment, told Forbes that “about a month ago we were just at the bottom of the 4th wave, and today we are in the 5th wave that should lead us to something between $25,000 and $50,000”.

4. Conclusion

So, can we expect a huge increase of bitcoin and cryptocurrency market capitalization in the longer term? Hard to tell. Anyway, today BTC`s capitalization is tiny as compared to the capitalization of stock market and it will probably take a long time for digital currencies to reach the level of huge public companies capitalization, even if they once again start increasing in value lightning fast.

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A Bitcoin Challenge Started Out in China: 21 Days With 0.21 BTC. Why Was It Stopped After Just 3 Days?

bitcoin challenge in china

We all have seen these shows where a person needs to survive a certain period of time with a limited amount of money in different locations. The Chinese TV decided to take it even further and add a new twist to the story.

A girl named He You Bing took up a challenge, during which she had to survive 3 weeks only having 0.21 BTC (approximately 1300 USD). That was all the money she had for food, dwelling and satisfying basic needs.

Considering the prices in China and also the fact that He You Bing carried out the challenge in megalopolises like Shanghai and Shenzhen (which are even pricier), it would seem quite an impossible task to complete.

However, if we think of the situation with cryptocurrency in China, here came another trouble for the girl, which was way more serious than the little amount of money.

He You Bing simply couldn’t find establishments that accepted BTC as a means of payment. She went from place to place, but most of the times very few people even knew about Bitcoin and cryptocurrencies in general, let alone accepted it. As a result, she had to eat wild fruits from the trees, free samples from shops and sleep in 24/7 cafes.

By the end of the 3rd day the challenge had to be stopped, and He You Bing had to be taken to the hospital due to starvation symptoms – the girl was on the verge of losing consciousness.

However, she reached ones of her goal – the challenge attracted attention of the public, thus, raising cryptocurrency awareness in China. Hopefully, next time the girl will choose less radical methods to do so.

We remind you:

McAfee Cryptocurrency Challenge Is Going Live

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