Hourly Chart:
If the $12,900 support level does not hold for BTC, we are looking to see a BTC price dive soon. It is unlikely to hold by my approximation because this is the third test coming off a failed rally. This means the day traders are going to favor selling out their positions at this level rather than buying... especially without any news to drive the market higher.
My target area for BTC in a dive is anywhere from $9k USD up to $11k USD.
Now, here is the deal guys, when the market tanks, those of us with cash for buying coins need to be shopping!
My Shopping List:
- EOS at $5 USD
- Steem at $2 USD
- BTC 10k to 9k USD (I would rather buy Steem or EOS)
PS - Cardano is a trash coin that moved itself in to 5th place.
I would tend to agree we're about to see more of a slide. I think a pretty solid footing for BTC would be around 8-10k. But I don't think it stays there for long. I'd like to see more prolonged sideways movement to build support before moving up again.
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I think we just need to get through this weekend to avert a crash and some optimism might return in the new year. EOS is on my shopping list too. Would love to get some at $5.
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Totally unrelated, but is your 'follower of jesus' tag ironic?
If not, there is an interesting idea(directly related to you as an investor) of the concept of 'prophecy', not being some sophist metaphysical concept, but rather something directly applicable to science(and prediction); i.e using truth('data') to make forecasts and the like.
Anyways, I'm a fan of yours from South Africa and I love all of your analysis ( and measured advice).
Upvoted and followed,
Best,
C
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Well unlike most other Christians I had ever met before I was lost, I am the type of Christian who knows Jesus is real. I met God, he yanked me up to heaven in a vision once when I was not a Christian. None of the vision made any sense until I became a Christian and read the Bible. The whole vision was full of Biblical concepts that I was ignorant of. Then there is the miracles I have seen.
What I don't bother to get into is that a lot of my advice comes out of my relationship with God. That Steem call I made in late November was a God deal, I got it while taking a nap. Went up 300% afterward.
I don't talk about this a lot because the point of my media content is not to shove Jesus on everyone, but Jesus is an important part of what I am doing.
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That just opened up a whole new demension on your content. So glad you shared that!
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EOS at $5 USD perfect choice i too have set alerts to buy at that price :D
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How I see it is that btc and bch and ltc is dropping likely cus people are buying ada (Cardano). Ive looked a little into that one and you might say im now on the fence about it since you called it a shitcoin. Why do you considder it a trash ? Do you see it as a similar coin to Ripple?
Also longterm i see BCH gaining in relation to BTC and unless BTC sees large improovements far beond segwit and the lightning network or increesing the blocksize to 2MB, Its likely to be replaced by bch or the next upcomming fork.
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No, Ripple has the whole Japanese banking sector looking at it, or already implementing it. No one uses Cardano. See my other comments on it.
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Yeah my goal in the new year is to fill my bags with EOS and Steem and then just keep putting some BTC away.
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Im sure bitcoin will rally anytime now... It keeps on holding on...
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Your technical analysis is amazing man
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Second that!
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I really think you are pretty wrong about Cardano. The tech is solid and the team awesome. Now Ripple is a trash coin. I think maybe that's what you mean.
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Cardano team always talks about how their project and paper is peer reviewed and that's their selling point of the project. However, comes to research paper, 99% of them are trash and they all get peer reviewed(even published on better conference). Cardano want to build the next generation blockchain platform but I just don't see they have the qualified team to build it. Charles Hoskinson himself is a dropout student with no decent publications and work. Despite it is called Computer Science, there is really not much of science behind it, engineering need experience and man-power, not a fantastic vision writing on a piece of white paper. Besides, their choice of using Haskell is questionable, I can't think of another reason besides they want to brand themselves as "research oriented" blockchain. Just my 2 cents.
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LoL... Ripple has users, though, that's why I like it. How trash the tech is doesn't bother me because as long as the banking users are happy to buy and use it, I'm liking it.
At 15 cents I was saying Ripple could hit 1 trillion market cap. People said I was crazy. Now it is near 100 bil market cap, 10% of the way to 1 tril.
Interesting thought about Cardano... research projects rarely get marketed and delivered to the market place as a viable business solution. All tech, no business sense equals failure. But I haven't seen the tech innovation with Cardano either, so I wouldn't give it anything on either points.
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I agree on author's Cardano remark. Overvalued.
Even if we say that they will disrupt the markets no other company has received so high valuation (17bln USD!!!) being so far from the FINAL working product. It will take years to develop and implement it. Lets take Uber for comparison which is a recent great example of disruption, they raised less than 0.5bln USD in the first four years of operation from venture capital actually having a working product. Cardano can't disrupt the market in the coming year. It will take years to become a true disruptor if they succeed. Their valuation will definitely go down in short term.
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It doesn't seem too good. Let's see if it can hold this level.
What are your thoughts on Cardano? I don't know too much about it other than it's also a ETH competitor.
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My first thought on Cardano is that rank is no indication of quality of a project or number of users.
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Any thoughts on hedging with Ether (ETH)? It's currently up 4% against BTC and has been since the beginning of the month. Would it be a sound strategy to hold ETH while waiting for the BTC dip?
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No, not really. ETH will go down with BTC and everything else in a dip. It may go down less, but it may not. Usually BTC usually has the most palatable declines. USDT is the only decent hedge but it's not perfect since it has risks.
If you find yourself stuck in BTC at this point, it kind of depends what your strategy is. Trying to trade the dips is something I have been doing but it's not for everyone, you got to monitor the daily action to do this, and set alerts. If you're a long-term holder of something, usually just better to hold.
I'm holding EOS, Steem and some NAV and a couple other things. I'm not selling those positions out through any dip. I have some USDT I am using to hedge and rebuy, but this is not all my crypto.
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@crypto-investor ......... absolutely i appreciate your talk and your post. it's always great to see your report and always have investors to take the right decision for your post you really done a great work......upvoted
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I want to ask you about EOS, why is it on your shopping list. EOS is actually a network or a service to store applications online decentralized , so it is not a coin and I think I should not speculate on it.
And can you please tell me why EOS is on your shopping list?
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EOS is similar to Ethereum, which is 3rd ranked, but it's functionality surpasses Ethereum greatly. Cardano which is like Ethereum and 5th rank, is still stuck at less than 10 transactions per second. EOS should do about 1 million transactions per second as a smart contract platform come June 2018. It also has response times that are sub 3 seconds. If you understand programming, you'll know why that's important.
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yes,BTC price down,but BTC high price hurry.great analysis and very informative information.thanks for sharing
upvoted // resteem
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So much love to share,.. and Yes,... with the one who appriciate it everytime
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yeah the steem and EOS are more attractive this time and hope to get some big profit from steem @cryptoinvester
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nice analysis and hope not touch this and again rise up in next some days
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I'm curious to know why you think Cardano is a trash coin? After doing a lot of research and reading academic papers it seems somewhat legit. Their academic sense rubs me the wrong way, because I feel like I might be getting fooled into this huge Ponzi scheme, but it seems like a lot of original work has been done in the Cardano project and it reminds me of Ethereum in the early days (of which I'm still in awe to be honest).
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No one is going to use it to do anything, but it's sitting up at 15 bil market cap. Currently operates at a whopping 5 to 7 TPS, which makes it as bad as bitcoin for the time being in transaction volume.
On the forums, they are feeding us fairy tales of a billion transactions per second. They need to demonstrate that on a test network. Even if it does a billion TPS, what's the response time for a blockchain event? Less than 3 seconds?
I certainly could do more research, but the crypto market loves to bid-up junk projects with fancy websites and technical specifications making huge promises while currently delivering nothing. This looks like one to me.
EOS to me is different because Dan has built 2 other long-term successful projects that deliver on promises. So if he promises something, I'm apt to believe it where other projects could take 5 years to deliver on their promises and become obsolete while they are building them out. Will Cardano be running 1 billion transactions per second before June 2018? That's when EOS goes live with 1 million tps and sub 3 second response times. Cardano will probably still be twiddling its thumbs under 100 tps.
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I see what you mean. I agree that it's all too often that a new shitcoin comes out every week with a flashy website claiming millions of TPS when there's no product, no testnet, no nothing, just a shitty whitepaper with some equations on it that people skim because they can't be bothered to read it.
I agree with you about EOS - I've been following BitShares for a while and I got me some when they were around 40 cents, but unfortunately I went into EOS way too late and it skyrocketed to a point where it became essentially too expensive for me (lol). After this recent correction I got me like 100 units of EOS but I'm keeping by BTS. I have some ADA because it seems that the hypetrain is not going to stop and I'll probably pop back whatever I have in ADA into either XLM or EOS before main-net for EOS goes live.
Thanks for the reply!
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I'm not sure where an appropriate place for this question would be as I'm new to steemit, but here goes. I'm seeing videos about new Crypto tax laws popping up that state the new IRS tax laws included in the 2018 US budget will require taxation on every single transaction, including moving currency from one exchange to another as well as converting from BTC to LTC and back again to avoid high fees.
If this is true, would you do a video or blog about how you will handle the accounting for this? The exchanges aren't set up to provide the accounting information needed for day traders to keep up with accurate values at the time of movement and I'm not finding any CPA's prepared to give advice at this point. Thanks for any information in advance even if you only can provide speculation.
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Why is Cardano trash? Personally I agree with EOS, good one to stock up on, but I'm going in on ETP and ETHOS also.
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See my other comment.
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Helpful informations thanks
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I do like the shopping list !
Do have 2 of them in my list though ,small amount!
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shopping list wow the great choice
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thanks for best information. Investment plant
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Great assessment, as usual.
I'm curious, and ignorant, why is Cardano a trash coin?
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See other comments.
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rapidly following after south korea shutting down an exchange i guess
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bitcoin is unstoppable, thabks for this information...
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I think now a days the price of bitcoin is fluctuating soo much and decrease but i know it will go high and its future is bright.
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Nice analysis @crypto investor!
To add in your shopping list, I heard SalPay/Salarium will go into listing by January 2018. I am waiting for this. They already have a working base clients/partners/business even before going into ICO. What do you think about this?
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not looking good for sure but bro cardano is great or not for long term i am holding some
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so if I'm in a BTC position would you advise to sell immediately or wait for a small increase in price? At the moment I have a limit sell for 15K, I hope I'm not being overly optimistic...
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I don't give advice because any advice is unique to your situation, and in the US, people have to be certified to give advice, with 150 legal disclaimers signed before they give it.
Long-term I am thinking BTC goes much higher. My last video had 50k BTC price within 6 months as a question. I think it can get there.
If this were the top of the market, how var could BTC really crash? It couldn't crash much more than it already has because it would just find buyers around 10k or less. For a prolonged crash to happen it would have to go down to like 5k or less... but buyers would support the market before that. I think we're still in the long-term uptrend.
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cool thanks!
btw I saw your raiBlocks video, seems you got a lot of pushback for it but I for one am so happy you make these. Having a contrarian voice is so important in a sphere like this that's ruled by hype and herd mentality. Hearing opposing views is the only way to reach rational decisions...keep at it!
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HODL
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I'm hoping the price goes lower or stays in this range so I can dollar cost average into a full Bitcoin...
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What do you think about Sia coin, is it worth investing in?
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I don't like file storage coins. They don't seem to be getting users due to the dubious ideas surrounding how files are stored, which makes IT guys leery of using their technology. MaidSafe... a file which can never be deleted. This is like an IT guys worst nightmare. DTUBE with IPFS is doing decentralized storage just fine without having to buy a 3rd party currency before they do it. You just pay an IPFS network provider to store it using a normal currency they'd rather have anyway.
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Hi, You mention in all of the recent videos that you will increase your BTC holdings over altcoins because of the returning anticipation of BTC dominance. While you state here that you would rather buy Steem or EOS. Do you still think that BTC could reach 50% dominance in two weeks?
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Just because BTC goes up doesn't mean I want to own it. Other altcoins have the potential to go up way more than BTC. I cover BTC primarily in videos because this tells us where the entire crypto market is headed. It is far more useful to know what BTC is doing, which tells us to some degree what every coin is doing.
Also, this content I provide on a daily basis sometimes, is just daily analysis. It has very little to do with long-term investing, other than it gives us good entry and exit points.
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Hey. Now there is a correction. After the New Year will go mad growth.
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Nice post
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Thank you for the shopping list @crypto-investor. I would be really interested on your thoughts on OmiseGO (OMG) and Polymath (due to be launched soon).
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Let the Jesus guide you, man!
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