The Bitcoin Beatdown of January 2018

January 15 and 16 2018 saw a huge slide in the cryptocurrency market, lead of course by bitcoin. The downturn was so bad that I'm going to call it the bitcoin beatdown. Perhaps bitcoin bloodbath might be better. The cause of this massive is speculation that the Asian markets may crack down on the freedom to use alternative currencies. South Korea seems to be leading the pack, from what I have read. All this time, I thought South Korea was full of freedom. I guess I was wrong on that.

As of the time of writing this blog, bitcoin BTC is hanging around $10,000 from a recent high of around $20,000. I saw it as low as $9500 earlier today. Litecoin LTC is around $180, down from a recent high near $350, Etherium is about $990, a slide down from $1,300.

Everyone’s favorite newcomer, Tron TRX rocketed up earlier this month from $.02 to $.30, but as of this writing it is sitting back down to earth at $.05.

There are some coins that are up for the day, but not many. When I looked earlier there was only one that was up for the day.

Will there be a bounce back? I think so. I’m going to hang in there, but I’ve only got a few hundred bucks in the game, so it’s no big deal. I can say that I am glad I didn’t go all in and buy a $16,000 bitcoin in mid november. I almost did! Once again, thanks for taking the time to stop by and read this blog.

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