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Why Community Divisibility Might be Behind the Recent Market Crash

  By David Drake   Over the past weeks, the cryptocurrency industry has experienced a dramatic decline in its total market capitalization. The prices of most cryptocurrencies took a sharp nosedive, disappointing investors. The industry’s growth had started to slow down after hitting highs towards the end of 2017. This is particularly true for Bitcoin which reached an all-time high of about $20,000 in price. After the market crash, its price dropped below the $4000 mark for the first time this year. At its lowest price, the cryptocurrency market lost about $92 million in capitalization since the price began to drop on the 14th of November. Bitcoin History Although this picture might fuel concerns about the industry’s future, crashes like this are not uncommon. Due to the value of the industry and its decentralized nature, compared to traditional markets such as stock and forex markets, the cryptocurrency industry has a ... Read More »

Bitcoin is Going Through a Rough Patch, But its Not Out Yet

  By David Drake   Cryptocurrencies, especially Bitcoin, became popular in 2017. Blockchain, the technology behind cryptocurrencies, was not left behind. In the past 18 months, the technology has captured the attention of individuals and businesses in equal measure due to its ability to facilitate secure and fast transactions. As a result, numerous projects are being developed on blockchain. They include ONe Network, a project that seeks to secure social interactions online, IOU that allows e-commerce businesses to measure customer satisfaction, BQT for hedge fund trading, LiveTradr for portfolio optimization and URAllowance that uses family smart contracts. The Paradox Despite the growing popularity of blockchain, the price of Bitcoin has remained significantly low at this time of the year than it was last year. The year started off on a low note following a period of panic selling triggered by regulatory uncertainty in China and South Korea. Having closed the previous year at an all time high of close ... Read More »

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