Current Market state

[ICObench]

Current Market state

During last week the crypto market did not suffer a lot from the price fallout. Overall total market cap is $114 billion, nearly the same as a week ago.

Bitcoin had a tough week as the top coin slid 3.3% this week. The positive fact about Bitcoin is that it still holds itself close to USD 3500.

Ripple (XRP) still holds second place again with a market cap of $12,4 bln but Ethereum still stays in close vicinity. On the top, this week the prices of XRP were at USD 0.333835 and towards the bottom, it quoted USD 0.285888.

SWIFT Reveals Plans to Launch Proof-of-Concept With Blockchain Consortium R3 Major global banking payments network SWIFT announced plans this week to develop a Proof-of-Concept of a gateway that will let blockchain consortium R3 link to GPI (Global Payments Innovation) payments from their platform. According to SWIFT, users of the R3 platform will be able to authorize payments through the new GPI Link, settling GPI payments with the users’ banks, with the credit confirmation reported back to the trade platforms via GPI Link.

Iran Plans Release of Digital Currency With Aim to Avoid US Sanctions
Iran is soon planning to unveil its state-backed cryptocurrency, local sources reported this week. The so-dubbed crypto-rial would potentially serve as a way
for the country to sidestep sanctions, the most debilitating of which is the lack of access of most Iranian banks to the SWIFT payment system. Iran is also
currently reportedly in talks with eight countries to discuss the possibility of using cryptocurrency for financial transactions, but the local sources were unclear if it concerns crypto in general or a state-backed coin. Also this week, Iran released a draft of its crypto regulation plans, noting that some aspects of
crypto would be banned.

Read more news in ICObench Weekly Digest for the week #5 of 2019
➡️ https://icobench.com/digest?utm_source=report

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[Naida_BR]

Iran Plans Release of Digital Currency With Aim to Avoid US Sanctions
Iran is soon planning to unveil its state-backed cryptocurrency, local sources reported this week. The so-dubbed crypto-rial would potentially serve as a way
for the country to sidestep sanctions, the most debilitating of which is the lack of access of most Iranian banks to the SWIFT payment system. Iran is also
currently reportedly in talks with eight countries to discuss the possibility of using cryptocurrency for financial transactions, but the local sources were unclear if it concerns crypto in general or a state-backed coin. Also this week, Iran released a draft of its crypto regulation plans, noting that some aspects of
crypto would be banned.

The news from Iran along with the news that coming from Venezuela, that there is an open military invasion from the US may increase the cryptocurrency market cap. No one wants a war in order to push the prices up, but it is a fact and can be true. We should watch the events closely as there are many variables that may affect the market prices.

[MTVuser07]

The current state of the market can actually be described in two words: a "steady decline". Even some experts say that the same bitcoin could fall to 2500.

[Alexlax]

The current state of the market can actually be described in two words: a "steady decline". Even some experts say that the same bitcoin could fall to 2500.

It is likely, but still do not leave hope that Bitcoin will start growing in the coming year and we will get at least some profit. But something tells me that I have to endure the bearsmen for a long time.

[omonuyak]

The current state of the market can actually be described in two words: a "steady decline". Even some experts say that the same bitcoin could fall to 2500.

With the way bitcoin has been hanging around $3469 I am afraid it is about to drop further as the whole market is in bearish condition.  If Iran ban some cryptocurrencies activities as the op has said then we should expect bitcoin to decline further in some days to come.

[Ispep]

The current state of the market can actually be described in two words: a "steady decline". Even some experts say that the same bitcoin could fall to 2500.

Steady decline could be the right word to classify the bitcoin right now,but this isn't the first time the price has been unsteady and it has recovered numerous times likewise.
No one can know if the price will fall further,so debunk such assertions.

[ecnalubma]

If Bitcoin keeps hovering the 3,500 or 3,000 then potentially it can easily be drag down if it break outs lets hope for a miracle, I don’t wan’t to be negative but I guess this is a long bear battle for all of us long term holders except for swing traders.

[ayshagotyou]

If Bitcoin keeps hovering the 3,500 or 3,000 then potentially it can easily be drag down if it break outs lets hope for a miracle, I don’t wan’t to be negative but I guess this is a long bear battle for all of us long term holders except for swing traders.

I'm afraid you're right, it will take more for a long time. Everyone hopes for the year 2019, but considering that no one is trying to somehow restore the price, there is little that will come out.

[lutfi-hasan]

If Bitcoin keeps hovering the 3,500 or 3,000 then potentially it can easily be drag down if it break outs lets hope for a miracle, I don’t wan’t to be negative but I guess this is a long bear battle for all of us long term holders except for swing traders.

I'm afraid you're right, it will take more for a long time. Everyone hopes for the year 2019, but considering that no one is trying to somehow restore the price, there is little that will come out.

Yes, I think that could happen, because at the moment the price is at $3400 already 1 month. and it is possible that the price will fall to $ 2000 if the price remains as it is now, because indeed there are always 2 possibilities when prices are stable as they are now.

[septi.JR]

Due to stricter rules by several countries related to Bitcoin trading, Bitcoin investors have significantly declined dramatically. Current conditions are inversely proportional to the Bitcoin conditions that occurred at the beginning of last year. So that there was a mass sale by several large investors, especially Bitcoin investors from China

[freedomgo]

Due to stricter rules by several countries related to Bitcoin trading, Bitcoin investors have significantly declined dramatically. Current conditions are inversely proportional to the Bitcoin conditions that occurred at the beginning of last year. So that there was a mass sale by several large investors, especially Bitcoin investors from China

That's one of the reason but we cannot expect only bad news will be within the market.
It's getting bigger now, we should not only look at the price, the adoption still at a great rate and once people were already in the space and they leave
afterwards, I don't think it's hard for them to invite again. Time will come that everything will turn good and even if there are bans from certain countries, let us not consider that as permanent as it could change as things improve.

[erikoy]

The current state of the market can actually be described in two words: a "steady decline". Even some experts say that the same bitcoin could fall to 2500.

Yeah that would be the case if the holders will going to sell their holdings due to panic after the downfall and considering that it may fall for more then expect more panic selling. I know more of the investors now stilll holding with worries in their mind on what will probably will going to happen on bitcoin market price.

[Kakmakr]

The fact that both the announcement of the SWIFT & R3 partnership and also the Govcoin for Iran dubbed crypto-rial had no significant impact on the price is very good for Bitcoin. 

You should think that the market would have reacted on this news, but I think they know it has very little impact on the global market. SWIFT are not currently using Bitcoin for global banking payments, so it is not taking away market share from Bitcoin and the same goes for the government of Iran.   

[nur rochid]

The current state of the market can actually be described in two words: a "steady decline". Even some experts say that the same bitcoin could fall to 2500.

Yeah that would be the case if the holders will going to sell their holdings due to panic after the downfall and considering that it may fall for more then expect more panic selling. I know more of the investors now stilll holding with worries in their mind on what will probably will going to happen on bitcoin market price.

with unclear market conditions, it is appropriate for them to worry. but if the investment uses free money, I think it will be more calm to face an unclear market, one of our beliefs that btc will succeed

[Kemarit]

So to summarized, the price of Bitcoin and the rest of crypto is still stagnant and not moving on any directions.

The current state of the market can actually be described in two words: a "steady decline". Even some experts say that the same bitcoin could fall to 2500.

Please don't listen to these so called experts. They are just like you and me, making wild educated guesses. If the price falls then so be it.

If Bitcoin keeps hovering the 3,500 or 3,000 then potentially it can easily be drag down if it break outs lets hope for a miracle, I don’t wan’t to be negative but I guess this is a long bear battle for all of us long term holders except for swing traders.

For now there is a strong support at $3200 so I don't think we can see the price hit another all-time-high but this bear market will go and continue unless there's some catalyst to push the price significantly higher.

[MTNAX]

The current market situation in my opinion is down so that we as bitcoin users must patiently wait for the value of bitcoin to rise again. Rest assured if someday bitcoin will rise and become high in value.

[JohnyMnemonik]

The current market situation in my opinion is down so that we as bitcoin users must patiently wait for the value of bitcoin to rise again. Rest assured if someday bitcoin will rise and become high in value.

Here and confidence is not necessary. This is an obvious fact because people will not let disappear or fall to 0. Human greed works in both directions, judge for yourself.

[peter0425]

The current market situation in my opinion is down so that we as bitcoin users must patiently wait for the value of bitcoin to rise again. Rest assured if someday bitcoin will rise and become high in value.

Obviously its down but if you look at the market in the last couple of months, not that much selling off so I would assume that we won't see any dramatic price fall, well, I hope so. Yes, we all know that sooner or later the will slowly pick up and then recovery followed by a massive panic buying again. But it will take months for it to happen so everyone should stay tune.

[shitcoinoffering]

Current Market state

During last week the crypto market did not suffer a lot from the price fallout. Overall total market cap is $114 billion, nearly the same as a week ago.

Bitcoin had a tough week as the top coin slid 3.3% this week. The positive fact about Bitcoin is that it still holds itself close to USD 3500.

Ripple (XRP) still holds second place again with a market cap of $12,4 bln but Ethereum still stays in close vicinity. On the top, this week the prices of XRP were at USD 0.333835 and towards the bottom, it quoted USD 0.285888.

SWIFT Reveals Plans to Launch Proof-of-Concept With Blockchain Consortium R3 Major global banking payments network SWIFT announced plans this week to develop a Proof-of-Concept of a gateway that will let blockchain consortium R3 link to GPI (Global Payments Innovation) payments from their platform. According to SWIFT, users of the R3 platform will be able to authorize payments through the new GPI Link, settling GPI payments with the users’ banks, with the credit confirmation reported back to the trade platforms via GPI Link.

Iran Plans Release of Digital Currency With Aim to Avoid US Sanctions
Iran is soon planning to unveil its state-backed cryptocurrency, local sources reported this week. The so-dubbed crypto-rial would potentially serve as a way
for the country to sidestep sanctions, the most debilitating of which is the lack of access of most Iranian banks to the SWIFT payment system. Iran is also
currently reportedly in talks with eight countries to discuss the possibility of using cryptocurrency for financial transactions, but the local sources were unclear if it concerns crypto in general or a state-backed coin. Also this week, Iran released a draft of its crypto regulation plans, noting that some aspects of
crypto would be banned.

Read more news in ICObench Weekly Digest for the week #5 of 2019
➡️ https://icobench.com/digest?utm_source=report

Seems that this cycle ends, so I hope new cycle will be uptrend...

[kryptqnick]

SWIFT Reveals Plans to Launch Proof-of-Concept With Blockchain Consortium R3 Major global banking payments network SWIFT announced plans this week to develop a Proof-of-Concept of a gateway that will let blockchain consortium R3 link to GPI (Global Payments Innovation) payments from their platform. According to SWIFT, users of the R3 platform will be able to authorize payments through the new GPI Link, settling GPI payments with the users’ banks, with the credit confirmation reported back to the trade platforms via GPI Link.

If that will help to make SWIFT payments faster and cheaper, I am definitely supporting it. I know that bitcoin and other cryptos and be faster and cheaper, but sometimes you need money on your bank account for formal things like applying for visa or officially transfering money to some company. I had so spend a very significant amount of money on that last year, and I wish I didn't have to do that in the time to come. Blockchain could definitely make these things easier.
I wonder why ICObench is talking about the current market state in general, rather than popularising news on ICOs.