A Synopsis of Cryptocurrency Market Performance with Jordan Lindsey

Cryptocurrencies continue to dominate investment headlines and online money making discussions among private investors.

There’s a very simple reason. In 2012, a single bitcoin was worth $15. In December of 2017, one bitcoin was worth nearly $20,000. Gains of that order of speed and magnitude just don’t happen with standard distribution frequency. It was a rapid rise, of a technology kick started by financial freedom seeking idealists and techno savvy individuals responding to an 8 page whitepaper written under the pseudonym Satoshi Nakamoto.

Things went great for several years.

But then several things happened beginning in December, 2017. The Chicago Board Options Exchange and its competitor the Chicago Mercantile Exchange both launched bitcoin futures during that month.

Against the high optimism of the bulls that helped to run the market from its $997 price on January 1st, 2017 to its $19,367 high on December 16th, professional investors and clearinghouses found themselves realizing the fulfillment of what they saw coming all along. The bull run stalled, contract volume became slim and then short momentum grew as the price per bitcoin was more than halved on February 1st, falling to $9052.

Fueled by confirmed fears about the vulnerability of the cryptocurrency to wide volatility price fluctuation, further bearish sentiment helped the price sink to the $5900 range on February 5th.

As an explanation for the turn of events, analysts have pointed to the newness of the markets and the need for them to mature. There was widespread sentiment among professional investors and analysts that the launch of futures in December, 2017 would provide that stability. What seems to have happened instead is that it burst a rapidly growing bubble and resulted in not only bitcoin’s decline but that of other alt coins as well.

Litecoin with a high of $321 on December 11th traded as low as $106 on February 6th. Ethereum was at $1321 on January 8th. It dropped to $571 on February 6th as well.

Ripple spiked from $0.23 on December 4th to $2.81 on January 1st, only to lose its earlier gains, trading at $0.60 early on February 6th.

Market volatility remains a critical factor in the short term outlook on the performance of bitcoin and other alt coins.

Jordan Lindsey

Creator of the Bitcoin Growth Bot Project featured on Youtube.com, Jordan Lindsey has created a platform allowing for the purchase of the Nucleus Token, NCL, using the Waves Dex Exchange.

Lindsey studied at Saint Joseph’s College and Mount Angel Seminary.

Most recently, Lindsey has founded and launched JCL Capital.

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