The Perennial Dip

The past week has been brutal for cryptocurrency investors. The Red Sea that has enveloped the cryptocurrency markets of late has many newcomers to the space scrambling for the nearest exit.

But before you submit that sell order, it’s worth pointing out that this is nothing new for experienced crypto investors. In fact, it’s become something of an annual tradition. Let’s take a look.

The Latest From the SEC

The SEC recently published a “Statement on Cryptocurrencies and Initial Coin Offerings”, authored by SEC Chairman, Jay Clayton. This latest release carries the same moderate tone that we have seen from the SEC in the past. For an organization whose primary objective is to protect the investors under its jurisdiction, this measured response to cryptocurrency is incredibly encouraging.

Bitcoin Shatters Expectations and Blows Past $16,000

On the morning of December 6th, 2017, Bitcoin opened at $11,590 USD. At its peak during the day, it reached an all-time high of $14,530 for a total variance of $2,940. By midday December 7th, it had shattered the $15,000 and $16,000 marks and is presently sitting at $16,361. At this rate, it'll probably break $17,000 before I can click “publish” on this article.

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