There was a news that hit the Crypto Currencies world and everything is going bad as of now. The Chinese govt. decided to ban the cryptos in China. And it's effects is very clear. The entire market is going red. But how long will this last? We know that the crypto currency will never go out of the market and will continue to live long.
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The picture surely shows that the market is really down.
In the last 24-hours, there was a total volume trade of $3,446,400,712. ($3.4 Billion)
- Bitcoin:
It is still the king of all the crypto currencies and will probably never move out of the picture in the long run. Unless some other and better token hit the market and everyone shifts their mind to the other coin. In the last 24-hours, Bitcoin volume covered 38.90% of the total market volume traded. ($1'340'649'876.986). The highest volume trade occurring in Bitfinex. ($119'083'000). The current price of Bitcoin is $3'951.04 Down by (-7.80%). The total market cap of Bitcoin is $65'413'366'876.($65.4 Billion). - Ethereum:
Well, Bitcoin and Ethereum have always been competitors. And lately, Ethereum is planning on moving to POS and this could change quite a lot of things. In the last 24 hours, there the total volume trade was 15.12%. About $519'918'811.1712. ($519 Million). Highest volume trade occurring in Bithumb ($$66,573,600). The current value of ETH is $268.97 with market cap of $25,426,888,120. ($25.4 Billion.) Down by (-9.52%). - LiteCoin:
Litecoin is considered to be one of the most stable coins in the market. But because of the Chinese ban effect, even LTC has been affected. In the last 24 hours, the volume traded of LTC was 12.05% which is $414'353'285.7195 ($414 Million). Highest trade volume occurring in OkCoin.cn. ($106,331,000). The current value of LTC is $57.24 and it's market cap is $3,025,960,984. Down by (-16.52%).
What will be the future of the market:
No doubt that the ban affected the market badly, but the fact is this will not last for a long time. Soon you may see all the tokens rise up again and this might be the best time for you to invest. Considering the market may still go down, you can wait for it to be the lowest and Invest your money. It surely will rebound where it belongs.
It's true that the market volume is lower by $2 Billion compared to last 2 days. Given the fact that this is the future your investments can be worth a lot more.
Think wisely and invest..
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Oh my god, why people worry about China so much, bitcoin will go up again I am sure about that, I hope people will stop this panic : Change your ip and have fun !
People are in the panic stage right now. LOL
Excellent guide! There is so much going on and your post is useful to follow the track of these events.
I agree with you: this is a temporary state, things will be improving rapidly: the base upon which the cryptocurrencies and blockchain itself are sustained is solid and more and more institutions (and governments) around the world are well aware of it. Cheers!
true!
Is that news even confirmed real yet?
About the Ban? Well china had banned like 3 times..
thanks for the info. woke up looked at my portfolio and saw only red, was good to read your evaluation of the situation, couldn't agree more with you now is a good time to buy, the legit crypto will go back, not so sure about some of the smaller coins and ico that have been proliferating the market though.
All the references go with legit cryptos. 🙂
"Digital coins will explode - people will lose a lot of money" - Vitalik Butrin
https://steemit.com/ethereum/@erez7770/digital-coins-will-explode-people-will-lose-a-lot-of-money-vitalik-butrin
It's the internet that was first indroduced to the world. They had no idea what to do with internet. Now here we are, it's doing wonders!
This post has received a 1.56 % upvote from @drotto thanks to: @banjo.
Bad news for China very difficult for people who is earning online in china.
Yeah!
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STOPThey did NOT ban cryptocurrency. They banned ICO's which are NOT the same thing. Please don't spread incorrect information and contribute to the hysteria.
https://techcrunch.com/2017/09/08/bitcoin-price-drops-following-report-that-china-is-going-to-shut-down-local-exchanges/ banning exchanges indirectly banns coins.