Share on StockTwits
Join our smart investors - Get the best stock directories in  blockchain, cannabis, crypto, AI, IoT, cleantech. Daily podcasts in cannabis and crpto. Just $99  a year

Crypto Corner: Market Drops on Christmas, Indian Interdisciplinary Committee Against Crypto Ban

December 26th #CryptoCorner and Podcast sponsored by Crypto payment tech, #Flip @FlipToPay ($NXTD) and Genesis Exchange and Wallet App @GenesisBlockch

 

Point Roberts, WA and Delta, BC - December 26, 2018 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news, in partnership with Fit Pay, Inc.'s (subsidiary of NXT-ID (NASDAQ: NXTD) crypto payment tech, Flip and the Genesis Exchange and Wallet App bring you today's edition of the Crypto Corner podcast and commentary on what's driving the cryptocurrency market.

Listen to today's Crypto Corner Podcast:

https://www.investorideas.com/Audio/Podcasts/2018/122618-CryptoMarket.mp3

Crypto Corner: Market Drops on Christmas, Indian Interdisciplinary Committee Against Crypto Ban

Get the Crypto Corner Podcast on iTunes

Subscribe to Podcast RSS feed:

https://www.investorideas.com/rss/feeds/Podcasts-Crypto.xml

Crypto Corner

Market Drops on Christmas, Indian Interdisciplinary Committee Against Crypto Ban and Nigerian Experts Believe Crypto Could Promote Trade on Continent

After coming close to hitting a total market cap of $150 billion on Monday, the crypto market took a turn downward and by Tuesday bottomed out at around $125 billion. At press time, total market capitalization is sitting at $127 billion, according to data from CoinMarketCap. And to conclude the Christmas season the top 100 coins listed by market cap are, perhaps quite appropriately a mix of red and green. The top three coins, Bitcoin (BTC), XRP and Ether (ETH), have remained relatively stable in the last 24 hours with prices having not moved more than 1.6 percent.

Mati Greenspan, senior market analyst at social trading platform eToro, said that the market could breakout in either direction and that controversial coins seem to gain more during recent rallies.

Though it was very nice to see a rally in the week leading up to Christmas, it seems the crypto market is once again playing defense.

A very sudden drop was experienced during the Asian session on Christmas morning, snapping through the new trendline and breaking the momentum that the market was working so hard to build.

At this point, the market can be seen within a range from $3,650 to $4,200.

A breakout to the downside could certainly see bitcoin testing the yearly lows once again. On the other hand, a breakout to the upside could have us testing a $6,000, a level that if broken could signify the end of the bear market.

Still, I have noticed a very distinct trend over the last week that the cryptos gaining most during the upswings are the cryptos that have negative stigmas around them. So it is still entirely possible that a good part of the upward pressure we've been seeing lately is due to short covering.

India may see crypto legalization in 2019, albeit with heavy regulation. The New Indian Express reports that an interdisciplinary committee set up by the government to look into cryptocurrency has come out against the existing outright ban. An unnamed senior official said the following:

"We have already had two meetings. There is a general consensus that cryptocurrency cannot be dismissed as completely illegal. It needs to be legalised with strong riders. Deliberations are on. We will have more clarity soon."

ThisDayLive reports that experts in Nigeria believe that cryptocurrency could boost trade in the country. At a conference in Lagos organized by crypto exchange Luno, the Chief Operating Officer of Blockchain Solutions Limited, Lucky Uwakwe described the importance of crypto:

"Bitcoin is the first cryptocurrency to use peer to peer technology; It is a simpler implementation of blockchain technology; Functions as a payment tool that can be used to send money, and carries value as an investment tool."

Sam Mowers, Investorideas

Read other editions of the Crypto Corner

Get the Crypto Corner News by email Get Crypto Corner News

Crypto Corner Sponsors:

Investorideas.com - NXT-ID Inc. (NASDAQ: NXTD) Subsidiary Fit Pay Flip<sup>TM</sup>

Flip™ is the creation of Fit Pay, Inc., a leading provider of cutting edge payment technology and a subsidiary of NXT-ID (<NASDAQ: NXTD). By leveraging the FitPay Payment Platform™, Flip enables cryptocurrency holders to seamlessly exchange their cryptocurrency for US dollars and store that value on a contactless payment device that can be used to make purchases at millions of retail locations. https://www.fliptopay.com/

Order Flip



Investorideas.com - GBT Genesis Blockchain Technologies

Genesis Exchange and Wallet App by Genesis Blockchain Technologies (GBT)

@GenesisBlockch

GBT is a powerful cryptocurrency centralized / decentralized exchange which will include a broad range of services and benefits from cryptocurrency and blockchain markets development, while avoiding complications and risks arising from crytocurrency ownership, transfer, and exchange. You can Download the Genesis Exchange and Wallet App at Google Play and on the Apple App Store. Learn more at http://www.mygenesis.io


More info on the sector:

Investor Ideas is positioning as a leader in blockchain and crypto content with its Bitcoin and Blockchain portals Bitcoinandblockchainstocks.com, Cryptocurrencyinvestorideas.com and Blockchaininvestorideas.com

For investors following the sector Investor Ideas has a comprehensive Bitcoin, Blockchain and Digital Currency Stocks Directory

Talk about the sector with other companies and investors- Join our LinkedIn Group Blockchain and Digital Currency Stocks and ICO's - Latest News and Commentary https://www.linkedin.com/groups/13560073

About Investorideas.com - News that Inspires Big Investing Ideas About Investorideas.com - News that Inspires Big Investing Ideas

Investorideas.com is a recognized news source publishing third party news and press releases plus we create original financial content. Learn about investing in stocks and sector trends from Investorideas.com with our news alerts, articles, podcasts and videos talking about cannabis, crypto, technology including AI and IoT, mining ,sports biotech, water, renewable energy and more. Investorideas.com original branded content includes the daily Crypto Corner and Podcast, Play by Play sports and stock news column, Investor Ideas #Potcasts #Cannabis News and Stocks on the Move podcast and column, Cleantech and Climate Change Podcast and the AI Eye Podcast and column covering developments in AI. 

The Crypto Corner is part of the Investor Ideas Membership content

The Investorideas.com podcasts are also available on iTunes, Spotify, Tunein, Stitcher, Spreaker.com, iHeartRadio and Google Play Music.

Visit the Podcast page at Investorideas.com:

https://www.investorideas.com/Audio/

Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. More disclaimer info: http://www.investorideas.com/About/Disclaimer.asp. Disclosure: this newsletter and podcast is sponsored content by featured companies NXt-ID (NASDAQ: NXTD) on behalf of Flip and GBT Technologies . More info: http://www.investorideas.com/About/News/Clientspecifics.asp Learn more about Investor ideas podcast and news publication services and costs https://www.investorideas.com/News-Upload/

Cryptocurrency Disclaimer

Investorideas.com news content is not meant to be a solicitation to buy or sell cryptocurrencies and Investorideas.com does not directly sell cryptocurrencies; but acts as a news and research resource for interested investors following the blockchain sector.

Copyright and ownership: Crypto Corner is an Investorideas.com content brand

Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp

Learn more about sponsoring the crypto corner and other branded content

Learn more about our news, PR and social media services at Investorideas.com

https://www.investorideas.com/Investors/Services.asp

Follow us on Twitter https://twitter.com/Investorideas

Follow us on Facebook https://www.facebook.com/Investorideas

Follow us on YouTube https://www.youtube.com/c/Investorideas

Contact Investorideas.com

800-665-0411