Crypto Market Recap 12/9/2017

Current Market Cap: $436.7B (+$56.8B in 2 days) Bitcoin Dominance: 61.1% (+1.9%)

Today we saw Bitcoin start to stabilize and even lose a little bit of ground to the alt-coin markets. XEM and LTC were the clear winners today in the top ten with MASSIVE gains. On the other hand all of the "Bitcoins" were taking losses at the same time today. Even so, we have seen absolutely explosive growth over the past month as a flood of new investors discover the beauty of crypto, and this is just the beginning.

This is where diversification and patience has paid off for many crypto investors. Just stash a little away for the future and you will thank yourself later!

As the world watches and waits for the Bitcoin futures markets to open Sunday we have seen somewhat of a "calm before the storm". The price action is actually forming a descending wedge, or a pennant flag formation depending on how you want to look at it...

Both of these formation would be considered bullish signs, especially given what secondary information we have for Bitcoin's very pivotal month.

Normally a wedge formation would indicate that there is going to be a break-out in the price, either up OR down. Considering that they are about to list BTC futures TOMORROW I would think this is going to bring even more attention and money flooding into the space. The price will only continue to rise as we enter this new age for cryptocurrencies!

I expect there to be a nice jump in price once we break past that resistance around the low to mid $16,000 zone later today.

Price Target:
$17,950

*Never invest more than you are willing to lose and always do your own research before making any investment decisions.
(All pictures are free domain images from snappygoat.com or created by myself.)