First of all, this video is really funny:
What is bitcoin doing?
Bitcoin has been doing a sideways-down movement as it attempts to find a bottom level of support. I still believe that this support level is around $10k, but clearly it has dipped below that level briefly.
Having a longer term consolidation such as this is healthy for the market. It is my belief that the fundemental positive factors ultimately driving investment into cryptocurrency will eventually out-weigh the sellers of BTC into this decline. In other words, the bubble is not over.
By us having this longer term correction, it also means that when Bitcoin gets going again, it may rally at a slower pace than it was previously. This is a good thing. It gives more time for investment to flow into the market, it makes the market less volatile, and the crashes aren't as severe if this happens.
What is Steem up to?
I believe STEEM is setting itself up for another rally within the next 6 months. It's possible whale selling causes this rally to be slower. My point being is that I think STEEM takes out $10 this year.
I hope that Steem will grow! By the way I just did a post were I Talked about Raiblocks and if it will go to the Moon, Would be really happy if you checked it out. I liked yours!
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hi, I was watching your Youtube channel and from there, discovered this secret treasure. Thank you for these article, and thank you confirming the doubts on Cardano.
Wonder if you could take look at Skraps. (https://skraps.io). I like their idea but would love if you review them. Unlike many other Youtubers, I got a feeling that your reviews arent purchased via eth/btc.
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Have you heard something about a trading signal crypto service called Bits To Freedom?
I read some guy pumping them on Facebook, that they are the real deal to make some profits in the space, i dont do daytrade, just a hodler on good projects like EOS. What are your thoughts....
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Haven't heard anything about it, nope.
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would be great if you make some time to research them, and make a post, would love your opinion on the matter, if you find the time obviously. I promise an upvote and reestem! ;) and welcome back!
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Welcome back after long time :)
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Yeah, thanks.
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The futures expiration went by and BTC held up so definitely consolidating before a move. Need to clear $13k to establish a higher trend again.
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Yeah, I agree that the 10k area we've hit (around the 100 day moving average) is the key area for consolidation. There is more TA that could justify further downward moves toward 7k, but I'm starting to wonder if the anticipation that has developed for reaching that low makes it much less likely to happen.
In general in crypto, I'm starting to think that when I think something is going to happen, many other people probably think that is going to happen, so it won't happen.. haha. Thanks for the content.
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Yeah, that's sort of how I approach it. If on the dips below 10k, people are using those areas to accumulate, then basically, we're in a net-accumulation stage of the market. Net accumulation stages drain total supply permitting moves higher.
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i really liked this line "it also means that when Bitcoin gets going again" hahah just can't wait to reach moon again
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10$ to end of the year?
I bet it will be around 100$ !
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Hopefully you don't mean Bitcoin... ;) haha
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Understand??
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ethereum and dash are going up no matter what, others three not so sure
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I still don't understand Dash... I just bought a bunch of Litecoin it is the best crypto currency in my opinion. Have you heard of the possible fusion of Litecoin and monero? It would be amazing
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I watched ur video on youtube.. I liked it
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Excellent post ....thanks for sharing your analysis seems like holding is good at the moment
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bitcoin is in the toughest correction of all time seems like this will stay long in this pattern and thanks for sharing that video hahaa
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Very nice article and i love the video, Given you an upvote for your great work!
Also if anyone is looking to get some crypto without investing or mining, have a look at Crowdholding. They are a co-creation platform where you are rewarded in crypto.
Here is the link if you are interested :- https://www.crowholding.com
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Hey mannn ! 5 days no youtube video :(((((
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Good point, are you still bullish on NAV? Good Roadmap, but i wonder why it is not soaring..
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Also, not directly related to your post, but a question I wanted to ask you, Dan - have you heard of a project called Nebulas? The leader of the project is one of the founders of NEO, and I've heard people speak very highly of their whitepaper. It looks like they have some interesting backers too. https://nebulas.io/
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Hey man, thanks for sharing your thoughts regarding this.
Can you explain why this trading chart shows such low trading volume during 2017 compared to 2016? Surely more people were trading BTC during 2017 as the price reached all time highs... or is this a result of a massive whale splash in the crypto economy? ... Or is this just a pile of garbage (ref: https://data.bitcoinity.org/markets/volume/all?c=e&t=b)
Appreciate any insight, thanks. Dean
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i was thinking it could go beyond $10 mark everyone speculations are high but you have done your analysis so that's great to know :)
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Steem has a high concentration of whales in my view, whales who bought in cheap in many cases. They like to unload when the price moves up so that's why I'm not projecting far beyond $10... like I think it will take out $10, so this means $11 to $20 probably, but whale selling pressure is what needs to be overcome with Steem.
Now eventually, whales who keep selling are diluted into a wider market of owners of STEEM and this no longer becomes a major issue.
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