lot's going on as usual affecting prices of many of the cryptos, south Korea talking of banning cryptos platforms so people selling off. Ripple (xrp) had seen significant growth and has dropped back a good bit, news for any of the pw ripple holder, ripple ceo has yesterday announced partnering with Moneygram western union to provide the 1st use of actual xrp with cross border transactions.
Bitcoin being the daddy of all cryptos is still encountering little movement having dropped approx 50% from it's all time high and is moving back and forth for last few weeks between 10-15%, talk of legislation, blockchain times and fees all affecting price at present. Upgrades to blockchain still being rolled out which are aim to help with scaling problems to reduce fees (Arrrrgghhh they cannot come soon enough)
Ethereum and Bitcoin Gold has had large% gains in last couple of weeks and still going strong, some of the small cryptos have seen large increases, Stellar lumens is one such and is created by ripple and has similar blockchain function to xrp, conversely other cryptos have seen significant losses.
Problems for people trying to get into the marketplace as most platforms closing to new registrations so they can focus on servicing current users and security. Some platforms having delayed withdrawal times due to network demands.
With all of the media hype all crytpos rose a couple of weeks ago, most of them absolute garbage coins with very little application or the development teams behind them have not met any targets for roadmaps they set out for that particular crypto. Many of these are now dropping back, however some of the better coins have found previous ground and some have increased from the revenue development generated from buys.
I give you an example in early 2016 I had some bitcoin left over from buys in one account and had about £20 worth, i purposely bought the poorest most rubbish crypto at that time which, when i checked on this 2 weeks ago it had risen to about the £450 mark so i cashed half of it out and it has now dropped back again but still no where near the original buy price.
Another coin i bought at the same time was doing well and has really dipped about 12 months ago and has lost more than 60% of it;s original value but i was not into it for a great deal so no biggy.
Some coins have some real promising blockchain applications behind them and will continue to be driven by the developers and supported by the network miners.
As always, some countries looking to ban cryptos, others encompassing them, media frenzy pushing demand versus the speed of development. As i always say never use any Dosh that you cannot afford to forget about, like myself there will be many people still holding currency for longer term gains and is always a risk/reward.
For 99.99999% of the population who hold cryptocurrencies all they need to know is it going up or is it going down, for me personally i have rode the wave for the last 18 months or more and have followed it for last 4-5 years and it still boggles my mind at times.
I have been fortunate to get into the most major markets very early on and have already removed my initial investment, as with all thing there will be people who make gains and others who will unfortunately make losses. The sad thing i see is the world and his wife making crystal ball promises that one currency will do this and another will do that, no one can see into the future. I am not in any way giving any investment advice and always do your due diligence to the best you can.
Personally i have not had to reach for the germoline for burnt fingers!
it's like the wild west, yee haa!