Bitcoin in Brief Friday: That Green Candle (Fomonomics)

It’s amazing what a fat green wick can do. In just 30 minutes on Thursday, bitcoin rose by $1,000, sparking ear-to-ear smiles and mass euphoria throughout the crypto space. In today’s edition of Bitcoin in Brief, we explore the ramifications of the BTC breakout plus a whole lot more.

Also read: Bitcoin in Brief Thursday: Crypto Winter Is Almost Over

Bitcoin Makes a Move

After days of stagnation, bitcoin finally made a move on Thursday and it was a biggie. The largest green candle witnessed in a month, big enough to wipe out a slew of shorts in an instant. When bitcoin wants to it makes like the wind, treating hodlers to all the thrills of riding the world’s giddiest roller coaster. In a single hour, a record $1.2 billion of BTC was traded. Previous bitcoin breakouts have proven to be damp squibs, so while optimism remains, traders aren’t holding their breath.

Altcoin Roundup

Cryptographic researchers claim to have found vulnerabilities in a group of privacy coins that includes zerocoin and PIVX.

Coinsheets writer Dmitriy is tweeting 100 days of shitcoins in which he appraises a bunch of alts in a tweet apiece.

EOS has been one of this week’s big gainers, and is one of the few coins to be up in 2018. A number of reasons have been postulated for its sudden gains including an upcoming airdrop and imminent mainnet launch.

One critic who’s not feeling those EOS vibes is Jackson Palmer, who complained: “People don’t seem to realize that there is no actual EOS “network” that the ERC-20 tokens can be redeemed on. They’re just releasing the code and there will be *multiple* networks/blockchains you can then hopefully redeem some sort of other token on. It won’t be “EOS” though.”

Crypto Scammers Are Getting Smarter

How’s this for an ingenious way to load up on gas?

Bittrex Reopens Registrations

This week Bittrex reopened new user registrations. Then it closed them again after being swamped by demand. And now it’s opened them again, this time for good hopefully.

Finally, crypto has a new word: fomonomics, the art of studying Google search trends to identify when the masses are about to FOMO into bitcoin again.

Do you think ‘fomonomics’ can be used to anticipate new money flooding the market? Let us know in the comments section below.

Images courtesy of Shutterstock, and Twitter.

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