3 crypto indicators you should understand

abajnath (53) in bitcoin • 7 years ago (edited)

Good morning Guys,

Today the market increased :). Not spectacularly but still in a good strong way. My 3 indicators for market growth are signaling a very strong move upwards in the coming few days.

Bitcoin is up while the overal market is up
USDT is down, below 1 USD
Overal market cap shows an ascending trend

If BTC is up and the overal market is up this is a signal that new fresh money is flowing in.

The USDT price development gives the following information: If general market is down and USDT up a shift is made from crypto to USDT. This is the quickest way to trade out of crypto (be aware it is not the safest way). Today USDT is down while crypto is up. This is another strong signal.

If overal market cap is going up while indicator 1 and 2 are positive it is a true signal that the market has revitalized with strength and I we can expect a healthy market that is preparing for a strong increase.

On coinmarketcap.com there are so many good tool to analyse the market. One chart that caught my attention is the following one.

Schermafbeelding 2018-01-27 om 11.38.39.png

We can observe the following:

A. BTC's dominance showed a light decreasing trend that seemed to crash in June 2017
B. Altcoins are increasing in dominance, with Ethereum taking the lead

We have to monitor how this evolves. The graph looks more dramatic than it is. Total BTC market cap is USD 189 bn. If BTC doubles then the market dominance is normalized again.

It is naturally for an extreme situation to eventually go back to normal. BTC's dominance is normal. We don't know anything else, hence I expect BTC to show a strong performance in the coming weeks.

Have a nice weekend and take care.

bitcoin ethereum cmc crypto cryptocurrencies

7 years ago by abajnath (53)

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beiker (64) · 7 years ago

i fully agree @abajnath even if we have a last down MARKET IS GOING TO EXPLODE UP i don't really care if it comes in february or march! We have the popcorn some good TWD episodes left to see and kids to play with :)

steemedge (35) · 7 years ago

We have a mummies crypto group. We have popcorn every week. :-) should be a movie script. 15 mummies sitting in a cramped house overflowing with noisy babies playing while we make a fortune on the side:-) lol

networker5 (56) · 7 years ago (edited)

@beiker! YESSS!!!
popcorn lol
btc up up up up

steemedge (35) · 7 years ago

popcorn, beer and cheer for BTC... :-)

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iamjapachi (43) · 7 years ago

Really interesting, thanks for sharing your insight!

abajnath (53) · 7 years ago

Thanks.

pranithreddy (51) · 7 years ago

That's decent analysis , without beating the bush you've struck the chord by vividly stating three dominant points .

abajnath (53) · 7 years ago

Thanks.

investingtips (3) · 7 years ago

Looks like the market cap is gonna drop again soon: https://steemit.com/bitcoin/@investingtips/textbook-symmetrical-triangle-on-btcusd

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jauharialz (57) · 7 years ago

Thanks for sharing information about cryptocurrency @abajnath .I hope the information is very useful for me

abajnath (53) · 7 years ago

Your welcome.

jauharialz (57) · 7 years ago

with the information that you share more of the knowledge that I get

kyawthihaa (43) · 7 years ago

Good post

abajnath (53) · 7 years ago

Thanks.

queqtra (61) · 7 years ago

Bitcoin is up while the overal market is up
USDT is down, below 1 USD
Overal market cap shows an ascending trend
Great analysis you are awesome @abajnath

abajnath (53) · 7 years ago

Thanks!

azircon (69) · 7 years ago

Good article. You are assuming like many others about the Bitcoin dominance will return of mean. However, this assumption may not be correct. It could also be Bitcoin dominance will slowly erode out as more and more altcoin will take its place.

abajnath (53) · 7 years ago

Valid comment.

azircon (69) · 7 years ago

I think several "platform coins" like Neo, Qtum, and of course Ethereum will continue to take Bitcoins market share slowly. Also social platforms like this one will continue to move viewers from Youtube. Another aspects is the launch of Bitcoin futures; people can easily short Bitcoin now. I come from 15 years of trading in forex and futures. If I have a portfolio of altcoins; one of the easiest things to do now is to short Bitcoin futures against yours long diversified portfolio of altcoins for hedge against sharp correction that happened recently. Increasing short futures positions will creating a temporary downward pressure on the price of Bitcoins. They say Ether futures is months away.

atengo (25) · 7 years ago

Thanks for sharing your thoughts. I'm new to everything and i'll keep that in mind.

burcindemir (51) · 7 years ago

Good morning @abajnath . Thanks for sharing.

abajnath (53) · 7 years ago

Thanks.

emma28 (58) · 7 years ago

I noticed this about 4 hours ago. Today's market looks good. Top 10 coins price starts increasing.

abajnath (53) · 7 years ago

Feels good.

razibahmed (49) · 7 years ago

Really, your words are correct. Everything has increased. What do we have to do now? Thanks to the beautiful writing

abajnath (53) · 7 years ago

Thanks.

aslam8 (44) · 7 years ago

Thank you for the update @abajnath
Keep it up
Can you tell where bitconnect go last
Im asking this because i lost 650 dollar on bitconnect :(

abajnath (53) · 7 years ago

Bitconnenct goes to 0. Sorry to hear @aslam8

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aslam8 (44) · 7 years ago

Oh :(
I should i cover my lost money from ?
Any idea ?

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opticbit (41) · 7 years ago

Before you invest in "margin lending" programs

Try this test:
If I invest $1000 and get the returns they claim will I be a trillionair in 5 years.

Now think of how many people invest $10k, is it really possible for them to all be multi-trillionairs?

Poloniex will pay you for full return swaps (margin lending) you'll get around 5% app. Risk is if the site goes down, since you don't own the private keys. Site gets lots of trading commission profits, and registered in USA, so heavy punishment for running off with everyone's money.

Btcpop.co does p2p loans, you can lend over there and earn interest (if the borrower pays off the loan). Or you can fund instant loans, also around 5% app. Same risk from not having private keys,. But the site owner has made a significant investment in many people.. if the site goes under, he's not likely to get anything back.

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teenovision (52) · 7 years ago

keep tracking for coming 6 months

j4y (45) · 7 years ago

I think in a few more weeks it will be right back up where it was!

berlinfood (52) · 7 years ago

Thanks for sharing @abajnath such a informative post.

abajnath (53) · 7 years ago

Thank you

ashrafashoor (44) · 7 years ago (edited)

I agree with you .sr kindly tell me about this news. Everything started with a suspicious transfer of 100 mln USD worth of XRP to an unknown account that has a 3 bln USD balance.

razibahmed (49) · 7 years ago

This very good news update about cryptocurrency.It is very informative and educative valuable.You have included more detail about all currency update.
This is very helpful for us.Thank you very much

abajnath (53) · 7 years ago

Thanks

austinebizzy (51) · 7 years ago

This is beautiful analysis well articulated, i bought some bitcoins when it was $12K and since that transaction, btc bent of dropping and rising in bits thereby not meeting my expectations but am quit certain that it will soon skyrocket more than expected. Thanks for sharing this analysis, i greatly appreciate.

abajnath (53) · 7 years ago

Thanks!

cristitaylor (46) · 7 years ago

Good morning dear Thanks for sharing Information about cryptocurrency Keep it up I always wait for your post.

ansarmehmood (48) · 7 years ago

Good morning friend. Yeah bitcoin is up while the overal market is up. Thanks for share information about cryptocurrency. Keep it up. Have a nice day friend.

abajnath (53) · 7 years ago

Thanks.

ansarmehmood (48) · 7 years ago

Welcome.

usmanjutt (16) · 7 years ago

O yes its reality that the currency of bitcion is increasing for the coming year

anandjadhao (54) · 7 years ago

Awesome analysis realy good job...

abajnath (53) · 7 years ago

Thanks

anandjadhao (54) · 7 years ago

Your welcome my sweet fraind...

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zaryabhussain (15) · 7 years ago

Good Morning. Bitcoin will increase its great news for all crypto currency holders, thanks for sharing news.

kazmi1 (57) · 7 years ago

you are right great analysis

abajnath (53) · 7 years ago

Thanks

syedihsanshah (61) · 7 years ago

High peaks are coming ...
Thanks for the update

abajnath (53) · 7 years ago

your welcome.

steemedge (35) · 7 years ago

Thanks so much, I’ve been looking for people to follow with interesting info. Naturallly a strong upward trend will deal with my 3 year old addiction to spending my money... but it’s nice to hear lots of points of view on the market. Lol. I might just be in a coffee and mummies club, but they have made $10000’s sitting around for a few weeks playing crypto and train sets at the same time. Lol. Thanks sarah

abajnath (53) · 7 years ago

Very cool!

acdevan (57) · 7 years ago

Your analysis is a timely reminder to ponder about the state of the crypto market. Although Bitcoin is supposed to improve its performance with the Lightning Network, more commentators are stating that they do not see BTC as a transactional crypto and are excluding BTC as a currency option - Microsoft & recently Starbucks. We have also observed that when BTC had its bloodbath recently, Steem did not decline in sync. It's great that Steem is delinked from BTC price movements. With the improvement in the general market momentum, rising number of Steemit contributors and use of Steem, we should see a nice gradual price appreciation. Thank you for your analysis!

abajnath (53) · 7 years ago

Your welcome!

jazzresin (54) · 7 years ago

I appreciate your share of knowledge. Thanks.

abajnath (53) · 7 years ago

Your welcome.

dannyn (29) · 7 years ago

100% agree with you. great post

abajnath (53) · 7 years ago

Thanks

sinner (50) · 7 years ago

still waiting for the bull run of bitcoin.. until this, i'm bored :(

abajnath (53) · 7 years ago

It is a slow starter this year.

fredstyles (25) · 7 years ago

Looks like Tether is messing up. Apparently they have issued more coins than they can backup. I would use caution. Thanks

abajnath (53) · 7 years ago

Agreed. Dont trust Tether.

bitcoin12 (12) · 7 years ago

Thanks for sharing information dear good work i upvote and resteem your post

abajnath (53) · 7 years ago

Many thanks.

cometomyway (40) · 7 years ago

That's a good analaysis ..
Bitcoin will go up this week ..
Thanks @abajnath for the update

abajnath (53) · 7 years ago

Thanks

imperialaussie (51) · 7 years ago

Thanks for the informative post. I agree and believe bitcoin is going up very shortly. I thought it would have been sooner.

niteshmeena (42) · 7 years ago

Good Morning Steem community !!!! Follow4Follow Upvotes

abajnath (53) · 7 years ago

I followed you :)

niteshmeena (42) · 7 years ago

Me too bro

sa89ali (25) · 7 years ago

Bro follow back me 😗😗

abajnath (53) · 7 years ago

Done :)

vismonkey (41) · 7 years ago

My portfolio is up by 5% since yesterday.
I ain't even mad :)

abajnath (53) · 7 years ago

Even more by now I guess. :)

viviqp (51) · 7 years ago (edited)

I find this interesting but I can't say it will be something explosive, on the contrary, I think it's gonna be a perfect equilibrium because the ups and downs were too big! But I didn't understand the fact with 1 usdt below 1 usd cuz it's false or sure:)

abajnath (53) · 7 years ago

Thanks.

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usmanjutt (16) · 7 years ago

https://steemit.com/steemit/@usmanjutt/steemit-more-info-to-all
this my link any one give me vote then i give them vote for all of his post

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queqtra (61) · 7 years ago

Good morning guys! ripple will get your old power. DQmPvziZjvqGVmWF87b7gtwyebBQx7gThMdiDN8BRSVHfsS_1680x8400.png

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abajnath (53) · 7 years ago

Thanks.

ninjad (46) · 7 years ago

Hey, I'm giving away up to 1 LTC ...
It's a survey ...
Question : What's your portfolio look like? ...
To answer: check out my steemit blog ...
...
https://steemit.com/cryptocurrency/@ninjad/crypto-journal-log-survey-1-ltc-reward-portfolio-1-29-18-10-12p
...

and read and respond to the post titled:
"Crypto Journal Log ((( Survey :: 1 LTC Reward :: Portfolio :: 1.29.18:10.12p )))"

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mvielma26 (45) · 7 years ago

Excellent Post

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abajnath (53) · 7 years ago

Thanks