(22 DECEMBER 2017)DAILY MARKET BRIEF 1:Profit-taking on Bitcoin

(22 DECEMBER 2017)DAILY MARKET BRIEF 1:Profit-taking on Bitcoin

22 December 2017, 13:20
Jiming Huang
0
34

It’s retracement time for Bitcoin: investors are taking profits, pushing the price back to around $13,000. For cryptocurrencies this is normal, i.e. boom and bust. We do not see this as a bubble bursting – it is a healthy correction.

Meanwhile, crypto competition is heating up, especially between coins that aim to be a store of value or a means of payment. Lately, Litecoin is gaining momentum and so is Raiblocks. There will be more than one winner, and we believe cryptos will be very profitable in 2018.


By Yann Quelenn


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