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Bitcoin Price Struggles to Mount Recovery as Chinese New Year Saps Trading Volumes

Bitcoin price struggles to mount recovery as chinese new year saps trading volumes

Bitcoin Price Struggles to Mount Recovery as Chinese New Year Saps Trading Volumes

Bitcoin price struggles to mount recovery as chinese new year saps trading volumes

Heading into Thursday evening, the cryptocurrency market continues to feel uncomfortably quiet, with the Bitcoin price consolidating below $3,400 during the final days of the Chinese New Year celebration — an event that some analysts say is depressing crypto trading volumes.

In the altcoin markets, Bitcoin SV staged a pivot back above $60, still failing to recapture its former #10 position in market capitalization. Basic Attention Token jumped 10% today. Ethereum hasn’t done much either way. Is the pricing of most tokens about to become much more accessible to retail investors? From where we stand today, there’s not much evidence to the contrary.

On a side note, as discussed yesterday, Ripple made an announcement this morning – but it failed to boost the XRP price.

bitcoin Price Consolidates Below $3,400

Bitcoin has two main markets that this column tracks. One is Coinbase and the other is Bitfinex. They represent good opposites of each other. Bitfinex is an elder statesman in the game of professional crypto trading, while Coinbase captures much of the onboarding and retail market.

The Bitfinex/Coinbase divide closed in mid-day trading.

For most of the morning, Bitfinex successfully kept its price quite a bit higher than Coinbase. Then around 12:00, things began to crumble, and at one point Bitfinex had a lower price than Coinbase. This didn’t hold, however, but now the prices are closer to each other: $3,456 on Bitfinex and $3,358 on Coinbase.

Ethereum Price Flirts with Sub-$100 Level

In the absence of a positive push, a lack of overall dumping is a plus. Is $100-range Ethereum a long-term reality, or can we expect a rebound when the network upgrade goes through next month?

Ethereum remained grounded through the 24-hour period, not going far in either direction.

One thing is for sure, we’ve yet to see the truly killer dApp built on the ecosystem. Telegram’s Ethereum alternative is set to go into testnet next month. Its pre-sale market capitalization already puts it in the top 10. Could we witness it in steep competition with Ethereum? We’ve seen this story before. The only best way to view it from a trader’s perspective is to be open to the possibility.

bitcoin SV Mounts a Recovery

Bitcoin SV briefly dropped below $60 yesterday, but quickly executed a rebounding push.

Craig Wright’s Bitcoin SV might be considered a philosophical decision at this point.

Through the day’s trading it’s managed to stay above its new “support.” Still, a return to former glory feels unlikely. When Bitcoin and Bitcoin Cash are both struggling, BSV seems to struggle harder. Both BCH and BSV are working hard to develop an ecosystem for developers that offers advantages over Bitcoin itself, but the value in that has yet to be determined in a market sense.

That being the case, a decision to pick up a Bitcoin SV bag at this point is a philosophical decision. If you believe in the “vision,” then there’s probably not going to be better opportunities moving forward.

Brave’s BAT Token Picks up Steam

The Basic Attention Token picked up steam in the past 24 hours, to the tune of almost 10% in some markets.

BAT jumped almost 10% over the 24-hour period.

Interest in the token has been renewed recently as Brave browser has begun its final push into stable development. Coinbase recently launched a program to give away $10 in BAT to people who completed an educational challenge on their earn.com platform.

Some publications including CCN are perturbed by the idea of a browser offering advertising but blocking the ads that actually keep the sites running.

Featured Image from Shutterstock. Price Charts from TradingView.

Published at Thu, 07 Feb 2019 22:57:01 +0000

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CORION Announces ICO Details for its Revolutionary Platform & Stable-Rate CryptoCurrency

CORION (https://www.corion.io) full-service blockchain platform powered by a revolutionary new stable-rate token, today announced final details for their public crowdsale to begin on June 18th and end July 30th, 2017.

[Note: This is a press release.]


CORION Platform Offers the Easiest Way to Enter the Crypto World

Built on Ethereum Classic, the CORION stable-price token eliminates the guesswork that comes with fluctuating prices. Its algorithm enables special automated inflation-deflation control, assuring the stability of the CORION token as a stable means of payment worldwide. CORION’s white papers can be found here.

Participants in the CORION crowdsale will gain access to the CORION Platform, and have stable-price digital tokens deposited in their multifunctional CORION Wallets immediately, allowing instant, low-cost payments. Early investors will receive a 25 percent bonus the very first day, 20 percent bonus during the first week, a 15 percent bonus the second week, and progressively lower bonuses throughout the campaign. Investors will also be incentivized by CORION’s affiliate reward of 1-5 percent.

Funds raised through CORION’s  crowdsale will be distributed to further developments and investments managed by the CORION Foundation (50 percent), to the Stability Fund managed by the Foundation (25 percent), to the team members for their two year of work (16 percent), future developers and associates working on the CORION Platform (4 percent), and marketing, promotions, and growth (5 percent).

CORION’s Marketplace allows anyone with a minimum purchase of 3,000 CORION tokens (a $2,400 investment) to join the community as a Service Provider and start their own business and start acquiring customers. The marketplace provides an excellent tool to promote any business online or offline anywhere in the world. From there, the mainstream crowd is engaged through affiliate programs and shopping communities that generate demand for usage of the platform. As business grows, so does the token supply, thus fuelling the system  and allowing users to earn daily rewards from staying active within the community.

The CORION Platform also features a built-in automated inflation and deflation control system that ensures the stable price of the coin to carry out transactions. If the price of CORION rises above $1 on the main exchanges, (i.e. there is a demand for more tokens), the system will release a maximum 2.5 percent additional tokens daily. On the other hand, if the price of CORION drops below $1 on the main exchanges, (i.e. there are more tokens in circulation then the system needs), no tokens will be emitted. To make sure the system works, set fees are calculated after each transaction and later burned to make sure they never appear in the system again.

Miklos Denkler, CEO of CORION, explains:

One of the biggest deterrents for new cryptocurrency users is the hassle of monitoring the hugely fluctuating prices of cryptocurrencies. With CORION, the price of the token remains stable, giving community users all the freedom to buy and sell in the marketplace without a major financial risk. We look forward to introducing CORION to a larger audience through this token crowdsale and putting investments towards funding this truly revolutionary platform.

For more information on CORION and its upcoming crowdsale, please visit: https://www.corion.io

About CORION

CORION is a multifunctional platform for businesses and individuals to join and build a worldwide decentralized network based on mutual benefits, simplicity, security, cost-effectiveness and speed. The Platform provides and hosts secure, convenient, and instant financial transactions using CORION, the stable means of payment. CORION encourages users to build businesses and services on it and it is ideal for beginners and anyone looking to enter into the crypto world. For more information, visit https://www.corion.io

The post CORION Announces ICO Details for its Revolutionary Platform & Stable-Rate CryptoCurrency appeared first on Bitcoinist.com.

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