Crypto Trading Tips for Beginners

Cheddar's "The Crypto Craze" covers the latest trends, and news in the space. This was one of the worst weeks for Bitcoin, which fell below $8,000. Cheddar's Baker Machado and Brad Smith break down the factors driving volatility and the state of regulation in this space.

It's been a highly volatile week in cryptocurrency. Cheddar Anchors Brad Smith and Tim Stenovec take a look at the factors driving Bitcoin's rollercoaster ride, and how some companies are looking to capitalize on the cryptocurrency craze. Shares of Bitcoin plummeted on Friday. Coinbase temporarily disabled its platform amid a price rout in the cryptocurrencies. The Verge News Writer Shanon Liao says one theory for the sell off is investors looking to cash out now before the bubble bursts. Earlier this week Coinbase also halted transactions for Bitcoin Cash after accusations of insider trading surfaced on Twitter. Coinbase CEO Brian Armstrong published the company's employee trading policy on Medium in light of the accusations. "We have no indication of any wrongdoing at this time," said Armstrong. Shares of Litecoin also plummted this week after the cryptocurrencies founder cashed out. This week shares of Litecoin are down more than 6 percent. Meanwhile, several companies are looking to capitalize on the cryptocurrency craze. This week beverage maker Long Island Iced Tea announced it changed its name to Long Blockchain Corp. Shares of the company jumped 200 percent after the announcement. Bitcoin is currently one of the top most followed tickers on social media platform StockTwits. Ian Rosen, CEO of StockTwits, explains how users are responding to the cryptocurrency craze. Rosen says more than 10 percent of StockTwits 1.2 million users checked a cryptocurrency stream in the last week. "It's an exciting set of assets," said Rosen. Currently Bitcoin has more watchers than Microsoft on StockTwits says Rosen.

Bitcoin continues to be the star of the crypto world, but a new year could usher in new coins. Arianna Simpson, Founder and Managing Director at ASP, joined Cheddar to discuss which new cryptocurrencies could emerge in 2020.