Market Mondays
Good Morning,
As of 9:00am EST US this morning, the general crypto-market is showing some downturns. In my opinion, this is still part of the correction the started not long ago with the dip in bitcoin. From my experience, this correction wave starts with the sell of bitcoin dropping price, then as it begins to rebound, people start selling their altcoins to catch the cheaper bitcoin.
The overall market cap graph shows general symmetry among the coins, but a finer look may illuminate my previous trend statement.
ETC could be getting a nice boost in value with the announcement that BTCC, China’s oldest bitcoin exchange has launched a coin to coin exchange in BTCC DAX, with BTC/ETC as its first trading pair. ETC beat out Monero, Dogecoin, and unfortunately....Steem:( The exchange is set to go live 6/27/2017. Hopefully, this will bring some good foot traffic through the ETC blockchain and move it up the market cap list. Be on the lookout!
MY UPload SCHEDULE:
I will try to upload at least 3 times a weeks here starting out. M-W-F.
Market Mondays- Market analysis , Q&A, consulting.
Wednesday afternoon update- Update on my currently traded coins and take on profit +/-.
Friday Evening roundup- Week closout, Profit +/-, weekend new.
Stay tuned for more info!
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Sources:
https://news.bitcoin.com/wp-content/uploads/2016/09/
http://www.coindesk.com/category/technology-news/ethereum-technology-news/
http://google.com
https://www.cryptocoinsnews.com/altcoin-news/
I personally think with GDAX allowing a "do over" from the last decline that this will add more margin fuel to the fire.
A target in ETH at 220 seems likely to me.
I wouldnt be surprised by that target either. Its alittle on the low side but I figured anywhere from 220-260 as a stable target. Perhaps higher if an ICO on the chain actually shows great progress.