After a few days of heavy gains, it seems like some of the patterns are coming back to normal as ether, dao, and lisk all dropped a few cliffs from reaching new heights. The prices are closer to their normal weekly trading average after peaking for a few days.
Bitcoin is still maintaining a bullish attitude, but has held it’s position just over $5000 CNY.
The recent drops illustrate how some money that was moved onto the market that spurred the investment was also removed from the market since the market cap is now back to 14.2 billion after bumping over 15 Billion during overnight trading when some of the prices were at their high points.
This could signal greater external investment from public and private investors who enjoy doing business transactions on the blockchain, and accepting the general improvements to e-commerce for tech-related businesses. The ease of utility, public ledger, and ecosystem is now to a point where it just makes sense to adopt the technology to increase local enterprise to the global markets, which is one of the only reasons some smaller, poorer countries were able to make it through the depresssion.
Since the new economic model adopts a free-enterprise on a global level that uses the Blockchain as the mediator, it is definitely a different economic playing field without all the red tape and regulators, which is what government sought to provide business for years now. This is a great improvement on international business relations, and is connecting many smaller, innovative businesses into the market, which is overall a positive sign for the global economy, and is also making a difference on local soils as well.
Here we have the Bitcoin Difficulty Chart: