CC RIDER - the Bitcoin Money Machine - Week 14
27% Growth in 14 week
The BIG DROP
The January down turn took its toll. The CC Rider model had me pulling out the 3rd week of January. I wish I did, I'd be reporting 50+% growth instead of 27% growth.
I second guessed the model and hung in believing that the drop was near the bottom and that it would be easier to hang in rather than to get out and then turn around and get back in.
Fortunately I got out earlier last week and missed further declines.
On October 27th 2017 I opened an account with https://coinsquare.io, a leading Canadian cryptocurrency exchange. I funded the account with a quick and easy eTransfer of 100$, (95$ after fees), and bought Bitcoin.
Over the following weeks I took profits from Bitcoin's increase in value and added Ethereum, Bitcoin Cash and DASH to the mix.
Now I'm 100% cash.
How is CC Rider Performing?
Here is the Growth Chart after this month's bumpy ride. Keep in mind this started with 100$ - it is
up 27% in 14 weeks
Now I'm watching the charts to see if we've really found the bottom and are entering the next 'up' phase or if that dead cat is going for another bounce.
What Impacts Performance?
Good news lifts the markets and the crypto-coins. Bad News lowers the markets and the crypto-coins.
This month has seen more than its fair share of Bad News. And there is probably more Bad News to come as more and more big Banks close the door on buying c-coins with credit cards and more Regulators find ways to police the on and off ramps to the block-chain highway and Governments put the squeeze on Exchanges.
CC RIDER - How it Works
I look at how the 4 coins are performing on a daily basis, Input the numbers into a spreadsheet and crunch the numbers. The Output is a % mix, 'a target', that each coin should be of the total mix.
The target hit 'Zeroes' for all 4 coins back on January the 21st. It has bumped around, mostly below the zero line since then. Today the target lines moved back into positive territory. I'll wait a couple of days to see if this is a change to an uptrend or just a dead cat bounce.
An interesting observation that will mean more in a few weeks looking back - the negative dip down near -750 is almost as deep as the positive peak was high, up to +750.
If the trend lines have zones then it would appear that the coins are deep in 'over-sold' territory.