AIRSWAP (AST) Will SWAP your FIAT for Its COINS!!
SUMMARY
Opt OUT of FIAT and OPT into CRYPTOS!! That's what's happening. In Microeconomics, there is a monetary principle called the Grisham's Law which states that bad money drives out the good. More and more people are exchainging their FIAT (bad money) for cryptos and this will continue for the foreseeable future. However, never underestimate the ones who have the most to lose by the execution of Grisham's law!
The below chart is that of AirSwap (AST) which is likely to proceed in forming an a,b,c,d,e triangle. Once thing I don't see on this is any uber bullish signals or patterns. This doesn't mean decent profits can't be made; however, given how purely Cryptos reflect sentiment, the more bullish patterns could propel the price more violently up!
The AST/BTC is not too far behind the AST/USD pair. The Elliott Waves all have Fibonacci relationships. These are explained in detail on the Fibonacci and Elliott Waves tutorial video. The target for wave 5 is 39,203 Satoshi and 35,143 Satoshi for wave 3.
Legal Disclaimer: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
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Sounds like an interesting coin I will check it out.
Hope you didnt bought it based on haejin advice..
https://steemit.com/haejin/@truthtrader/haejin-6-months-accuracy-rating-day-15-3-day-14-accuracy-12-50
No, it is not one I brought, I am just sticking with a good quality crypto projects these days, which are backed up by sensible businesses. I think a lot of the coins that are being marketed and promoted will ultimately fail, but there are still a small number of crypto/blockchain projects which will have a big future, probably less than 2 percent of the market. I am not really into trading or Elliot waves, more fundamentals. Cheers
Currently all cryptos seem to be stagnating or sliding. Your analysis seems to suggest that most corrections are nearly done and we can look forward to rises again in the near future. I hope we don’t have to wait too long!
Take a lesson from the master
I agree with the sentiment. I have held btc through 5 crashes of approx 80%. I wonder how many will still be subscribing to this view when we are sitting at valuations of approx $4k!
Another lesson:
Don´t follow advices from people thata have no idea what they are doing:
https://steemit.com/haejin/@truthtrader/haejin-6-months-accuracy-rating-day-15-3-day-14-accuracy-12-50
AST has great future. It will be used by Galaxy digital I think.
That’s not how Gresham law works. It’s referring to people prefer to use “bad” money in their daily transactions. So they will use fiat for buying and selling rather than gold and silver.
Gresham's law is a little more complicated and it requires particular conditions to exist. Generally speaking, it's when you have two legally mandated versions of the same currency, but where one version is inherently more valuable (the good) than the other (the bad). So a good example would be US dimes, which used to be silver, and were changed over to cheaper metals in 1964. When this happened, there were two versions of dimes in circulation at the same time, the real silver dimes (the good) and the lower value metal dimes (bad), both in circulation at the same time and both legally mandated to be "10 cents." But people knew better, so when it came time to spending, people preferred to hold onto their good silver dimes, and happy to use (spend) their cheap metal dimes when they went to the store to purchase a pack of gum for 10 cents. Over time, the good dimes were kept in people's storage or even melted down, while the bad dimes came to dominate the supply, thus the "bad" replaced the "good." Now let's apply this to what Haejin is saying. I personally do not understand exactly what he is means here, and if he is reading I would love it if he elaborated on how Gresham's law applies here. Is he referring to Gresham's law specifically as it applies to AST or Crypto generally? I suppose he is saying that fiat is the bad, because it is being debased through overprinting, and crypto is the good, because it has better controls on supply. But if this is the case, how will it play out?
My understanding of Gresham’s law is the same as yours. I think he is apllying it in the context that people will hoard or save crypto (as the good money) and get rid of or spend the fiat (bad money).
Well, then he may be on to something because, shit I don't know about you but I definitely prefer to spend dollars and save crypto. So that would make sense. The question in Gresham's law however....what do people do with the currency they decided to stash away for themselves?
I think you have to spend your stashed currency at some point but given the option, you spend fiat over crypto. That is also a self fulfilling prophecy as it is still pretty difficult to spend most crypto.
@thegreatwent - great response, so true, I think some cryptos will win and many will lose, we have the next few years to work out which ones will be the winners in the new blockchain economy, I think a Bitshares, EOS, IOP and Ethereum will be pretty big in the years to come. And doubt there will be others which will dominate the top 10, which are yet to come to market aswell.
Im glad to see new users asking the important questions and learning about crypto. Full upvote for you! :)!
thanks
Probably what is means is just some fancy word to make his advice look legit
https://steemit.com/haejin/@truthtrader/haejin-6-months-accuracy-rating-day-15-3-day-14-accuracy-12-50
Love the way you started the post: "Opt OUT of FIAT and OPT into CRYPTOS!" totally agree with this, but people should diversify and hold some tangible assets like Gold and Silver also. They make good insurance policies for the next financial crisis ...it will come.
If you go to @haejins blog, you will find an analysis on gold, which is not yet a buy according to him :) He also educates in ETF trading ;)
Wich is probably as bad as his crypto advices:
https://steemit.com/haejin/@truthtrader/haejin-6-months-accuracy-rating-day-15-3-day-14-accuracy-12-50
not true if you follow haejin advices:
https://steemit.com/haejin/@truthtrader/haejin-6-months-accuracy-rating-day-15-3-day-14-accuracy-12-50
Thanks, this was one coin which I picked up even before @Haejin suggested me because of its amazing potential. I think this is easily a $100 coin in end of 2018. Also look at their advisors & team.
Maybe a good strategy is to do the opposite of what haejin suggest:
https://steemit.com/haejin/@truthtrader/haejin-6-months-accuracy-rating-day-15-3-day-14-accuracy-12-50
First!!
AST is good hold !
Thank you so much @Haejin for your hard work!
How do you swap your fiat for AST???
Buy bitcoin, sign up at an exchange that trades AST. Send your bitcoin to the bitcoin wallet you own on the exchange you signed up on. Then use your bitcoin to buy AST.
Or use litecoin for the transfer as fees are a lot cheaper!