2019 Crypto Markets Feeling like 2018 Markets

By | Jan 28, 2019

2019 Crypto Markets Feeling like 2018 Markets

January is almost over and so far 2019 feels a lot like 2018 as far as cryptocurrencies are concerned. Bad price action & a sea of red proliferate. Coming into the new year, enthusiasm abounded but only a few weeks later there is mounting concern fresh new lows may await. Please do your own research; this is not financial advice.

Delays have been the new norm thus far in 2019. The Ethereum Constantinople fork was pushed back a couple weeks ago as the new protocols simply weren’t ready to be put into action; the market didn’t seem to love that. Then the CBOE pulled their Bitcoin ETF application at the SEC; reading the tea leaves some analysts attributed this to the government shutdown, yet the shutdown is now ended – albeit perhaps temporarily – and the ETF bid is not resumed.

I saw a report that the number of Bitcoin ATMs globally is now up to 4,000 – apparently these are being used to convert digital assets back info fiat because there is no indication their new presence on the landscape is doing anything to support price.

The only thing growing in the blockchain crypto ecosystem seems to be online retail accounts at Binance, Kraken, & Gemini et al. Apparently having a crypto account is the new form of “conspicuous consumption” as lots of people now have them – in name only.

2019-01-28T17:50:15-05:00January 28th, 2019|

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