CombiCoin Weekly #9
In this CombiCoin weekly the following things will be addressed:
- CombiCoin performance week 5
- Buy Back feature launch
- What is happening in the market
CombiCoin performance week 5
Weekly growth
Value on 29-01-2018 – 08:00 CET – $ 42.89
Value on 05-02-2018 – 08:00 CET – $ 27.53
-35.81% – (previous week -22.22%)
All time growth: 218%
Monthly growth: 7.5%
Week high: $ 44.74
Week low: $ 24.39
Buy Back feature launch
The last weeks we have been working very hard to finalise the Buy Back feature. This Tuesday and Wednesday the final tests will be executed of all software components involved. If these final tests are successful, the buy back feature will be launched on 8-2-2018 @10:00 cet. We will send out an email on Thursday when the buyback feature is live. This email will include tutorials that guide you through the Buy Back feature.
What is happening in the market
There is no real reason to worry about the price fluctuations we have seen last month. There has been some negative news around Cryptocurrency eg. American banks no longer allowing the use of Credit Cards to buy Cryptocurrencies. The negative news have had an impact on the current prices. On the other hand, no important flaw in cryptocurrencies or the blockchain has been discovered.
Zoom out and look at the bigger picture . When we we launched CombiCoin on 15-10-2017 the total cryptocurrency market cap was $176bn. The market cap is now around $380bn. This is a 126% growth, while CombiCoin outperformed the market with 210% growth in 3 months. These returns would generally take more than a decade in the stock market.
Unfortunately corrections are a must in a volatile market, and double-digit week-on-week gains are not realistic in the long run.
Market cap movement from 15-10-2017 until 5-2-2018
We have seen an incredible all time high last month. During this bull-run many people entered the cryptocurrency market. This influx of capital pushed the market cap to higher highs, ultimately correcting to the prices that we are seeing right now.
Keep in mind that for every seller, there is a buyer that is more than willing to take the position over. Every completed sell order is automatically a buy order. The sophisticated investors are patiently waiting to get their beloved cryptocurrencies as cheap as possible. It is up to the sellers to decide what the ultimate bottom is. What we know, is that the smart money is not protesting to get their cryptocurrencies for a discount.
Disclaimer: This is not investment advice, it is for informational purposes only.