Wednesday December 13, 2017
Total BTC mined: 0.39464575
Total BTC mined USD: $6789.72 (based on today’s current exchange rate)
Total Spent: $1891.50
Remaining to break even: $0.00
Overall mined value dropped back below $7k as Bitcoin prices dropped to just above $17k while other cryptocurrencies saw similar volatility as investors and money started to settle following recent climbs. Litecoin which was trading above $400 yesterday pulled ack to around $320 while Ethereum kept climbing (albeit slower) to break $700 and settle around $720 at the time of this writing.
I think part of Litecoin’s drop is due to the fact that in a 24 hour window it surged remarkably then came back down just as quickly and anyone buying in the surge that feared it was headed to $500+ decided to cut their losses on the way back down and added more fuel to the selloff. If there is one good thing I’m seeing it’s that prices for major cryptocurrencies that have gone through recent booms have leveled off as they have potentially found a quick balance between profit takers and investors.
Meanwhile Ripple (XRP) is currently booming and has nearly doubled over the last two days and looking at the alt coins on Poloniex, nearly everything is up do to a combination of funds surging in and Bitcoin declining (I find the easiest way to trade altcoins is via Bitcoin to alt rather than USDT). I also think the alt coin market is fueled by investors looking for “penny stocks” on the exchanges and buying anything low on the assumption it will go from a fraction of a cent to $1 in the coming weeks.
That is of course the entire problem with the cryptocurrency market at the moment but I’ve decided that rather than rail against the masses, I’ll try to make a few $$$ and get out before everything implodes.
Today’s picture comes to us from Ian Britton