I believe it is about to turn around
Call me crazy but there has been a lot of good news surrounding Bitcoin and Block Chain lately and this chart looks Bullish, very bullish!
Technical Analysis:
Look at the TA below, and here is a link explaining a descending wedge as well http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns:falling_wedge_reversal.
It seems like we are about to turn around, not only is there a decending wedge, but the RSI had been held toward the bottom for a while now, I bet we breach the bottom and bounce hard here!
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Information:
If you have been trading Bitcoin for a while, you will here terms like; "Institutional Investors" "Regulation, and "Liquidity" getting kicked around like a hacky sack lately. Here is what is going on **Investment firms, (you know, the people who tell rich people where to invest their money", would love to get their clients into Crypto, and here is why.
Investment firms make their money in commission, and commission on investments that make THOUSAND PERCENT GAINS means big money for them.
So what is stopping them from advising their clients to buy Digital assets? Well currently they are for the most part unregulated, unlike the stock market that has some safe guards in place to protect investors from fraud and even from market crashes, Crypto does not have any of these regulations. Now if a firm puts peoples money into something that turns out to be a scam, it could be really bad for that firm. So what is the solution to this problem? Bitcoin ETF, if they make a Bitcoin ETF product, now they can invest their clients into this ETF and they would be protected in the event of the price dropping from any recourse or legal action. So basically if the Bitcoin ETF gets approved, we are opening the floodgates for all of the big money investors to get into the space.
News:
Microsoft, Amazon and Facebook getting involved. https://btcnews.com/high-profile-technology-companies-taking-blockchain-seriously-response-fomo/
Tether Added 250 million tokens. https://itsblockchain.com/250m-more-tether-added-is-this-good-for-crypto/
Others see the potential reversal too. https://cointelegraph.com/news/crypto-markets-budge-little-bear-trend-shows-scant-signs-of-reversal
https://www.coindesk.com/7500-bitcoin-bulls-fight-back-but-too-early-to-call-reversal/
Bitcoin ETF could mean the price of one Bitcoin reaches $35,000 this year!
I am not a financial advisor and this is not financial advice, invest at your own risk.
I hope you enjoyed the article, please leave me a comment and share your thoughts with the community.
Thanks for the signal...
Lets keep our fingers crossed.
Yeah right. Crypto red forever. All the green bois died in January.
;)
BUY BUY BUY!!
Buy Buy Buy is what I am doing, but unfortunately I can only throw in 200 per paycheck or 400 a month. I am adding 100 per paycheck to my Eth trading bot account and 100 into Matrix or Cardano each paycheck.
Nice! That's a lot more than me. My buying right now is mining equipment.
Unless you live somewhere with low energy costs, I don't really think it is very profitable to mine. Check out this site. www.whattomine.com there are some currencies to mine profitably, I suggest buying into a currency with Proof is Stake instead of Proof of Work and "Mine" that way. Stratus, Ark, Vechain, etc.
Yeah, that's a definitely ite possibility. ZENcash is pretty cool with a hybrid PoS PoW system.
My energy costs are around 6.5 cents for the first 3000 kwh. For the moment, I'm mining ethereum, but that's because it's a decent default. I am going to look more this week into other altcoins. Monero, zcash and ZENcash are the ones I'm most interested in researching, but if none of them are productive enough, I'll definitely switch focus.
Thanks for the link, it'll help a bunch I'm sure :)
Glad to help my friend, good luck!