With over $130,000,000 in volume going through the exchanges in Bitcoin alone, the trend for buying and selling is definitely above average volume, with Bitcoin seeing one of its biggest day-drops in history, with over a 10% drop in prices, making it drop below the $400 USD point. The slide in bitcoin rippled across plenty of other altcoins, where the price drop reverberated through the markets.
This coincides with plenty of the traditional markets, which also faced investment pressure as investor confidence dwindled, and some of the largest losses this year were experienced by the traditional markets:
Besides the Dow Jones dropping over 2%, the Shanghai markets also experienced some large losses:
Are there any safe havens?
Many would think Gold would be the place to turn, but it is also historically low, hovering just under the $1100 price point:
And last, but not least, is Oil going to ever improve?
Are there any profitable options? Before we get too in-depth into the options available for traders looking to make a profit, one must consider how the lower price of BTC can affect trade prices. Since one currency, in this case, BTC, has declined, many previous buy orders are now impacted because the price of one coin in relation to the other can be impacted.
Consider the value statement of .01 BTC: $4.32 vs $3.95 — then consider that in relation to other coins which may be priced in relation the the BTC. For instance, if you want to consider the price of Ether, you must consider it <i> relative </i> to the price of Bitcoin.
In this case, Ether was selling around .0026 BTC yesterday, but because BTC declined, and ETHER remained relatively stable, the devaluation of BTC has caused the price of ETH to increase to .003 BTC, even though the $price has remained almost constant (change from 1.19 to 1.22) — many traders are interested in how to make gains on these pairings, and the havoc on the markets has really shaken up all the options regarding how people trade.
Stay tuned for tomorrow’s update to see how things shake out!!
Good luck and happy trading, and make sure to get on the Alcurex exchange and make some moves to buy some coins, stock, and real property!