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Daily Recap - May 22, 2018

Well, I have decided to journal events via daily recap posts. I think it's a great way to look back and see events that have happened and show they shape the crypto world. Obviously, I can't include every event, but I am trying to hit notable ones of interest. There is alot of FUD in the air today. When people start mentioning "Ramen", you know the market must be red. I have also noticed when people aren't making a ton of money the chat rooms and Twitter can get VERY quiet. In my opinion, this is a great time to do research and get a game plan set. Pick some coins you may want to invest in while they are down.

Notable FUD

  • The US Department of Defense is concerned about people who own crypto. They are waiting for the SEC to interpret crypto. Headlines read: CRYPTO COULD POSE A PROBLEM FOR CANDIDATES SEEKING SECURITY CLEARANCE. Yes, that's definitely FUD.

  • XVG experienced another DDOS attack. Obviously this isn't good for crypto, and definitely NOT good for a "privacy" coin.

  • Consensus 2018 was last week in New York. From what I have read, many people were hoping that this would give prices a boost...which obviously did not happen.

  • SEC Chairman makes public statement about enforcement sweep targeting fraudulent ICOs and Crypto Asset Investment Products: "Cryptosweep". Lots of chatter of SEC v. crypto.

Notable news events

State of Crypto Market (Credit to Coin360)

Top 10 Coins according to Coinmarketcap

Day's biggest gainers (per Coinmarketcap)

Days biggest losers (per Coinmarketcap)

Bitcoin Daily Chart

CME CF Bitcoin Reference Rate & CME CF Bitcoin Real-Time Index

BITCOIN FUTURES REPORT (More info can be found by clicking here)

To sum up, this is a crazy time in crypto in my opinion. There are a number of things up in the air, including regulation, hacks, and talk of bubbles. The people who bought in December and got burned after taking out mortgages on their homes are gone. People who expected to get rich overnight will soon be gone. This is the time for patience. Mainstream adoption is needed. I am hoping this year we will see more and more shit coins disappearing and real ones sticking around. Ups and downs are part of crypto and I for one am sticking it out. See ya tomorrow.

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