What Happened In the Crypto World Today? What Is to Come?

in bitcoin •  7 years ago 

Good day,

Anyone else struggle to keep up in the cryptocurrency world? What coin should I invest in? What price should I buy it at? When should I sell it? Should I "HODL" it? Will the government ban it? How long until the government imposes harsh regulations? When will the tax code become clear regarding cryptocurrencies?

The questions are endless and it is easy to get lost in all of the noise. That is why I would like to use this platform to help educate anyone that is interested in cryptocurrencies and blockchain technology. I found myself always answering questions for family and friends, so I figure why not extend it to a much larger audience.

I am more than willing to assist or educate anyone that is eager to learn. Technology is advancing at an exponential rate and information is becoming more readily available to more and more people around the world. There is no shortage of the information. The hard part is analyzing and identifying the correct information.

Please feel free to leave questions, comments, advice, opinions below. 



With that being said, what has happened to Bitcoin since its fall from all time highs??? Obviously it was not going to keep going up and up and up. What goes up must come down. 

The main thing to note in this chart is that the price had respected the 50 day moving average (light blue line). Every time the price dropped to the 50 day moving average it would rebound and continue higher. On January 11th 2018, the price dropped and closed beneath the 50 day moving average, which I would consider bearish since this moving average has been respected for so long. The green cloud also acts as resistance and the price continued to drop beneath the cloud. Right now price is consolidating between 10-12k range. There is a lot of resistance to break through in order for me to change my outlook too bullish. First up is the 20 day moving average (purple line) around $12,250. If we can see price break that level, then that would be a good start. Notice the MACD at the bottom is starting to give a buy signal as well. 


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Again, please let me know if you have any questions at all or would like my opinion on any matter regarding cryptocurrencies.


Hope you all have a good day and as always...here to help!

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Welcome to Steemit. I hope it is good for you. Invite some friends and build the community

Thank you. I hope it is good for you as well. Very interested in sharing ideas and learning how to navigate the platform. Seems like it could be a valuable tool for all.