State of the Market - #5 MARKET IN DENIAL
Hello, Steemers! In this video, I share my thoughts about the cryptocurrency market in denial. Some of viewers are onto it already and are ahead of me in their thinking though! I always make sure to listen to my viewers who are smarter than me.
Great point about not just looking at the candlesticks, but understanding the psychology. This is something I do with my technical analysis. DASH had a pull back from 100 to 50. But because the psychology was totally different, I knew that pullback was bullish. It was also met with a lot of skepticism. "Dash's bubble popped", ect. ect.
Great technical analysis of the crypto market. No fluff, just data. Great video!
Nice video. Thank for sharing. Upvote me. Help
Gave you some upvotes on your channel. Thanks for following and producing content for Steemit! :)
Yes sir. I have followed you. I really appreciate your voice. Thank you
Curious if you think LTC may be a good place to hang out in while the market corrects?
I'm a fundamental guy, right... so LTC doesn't score well other than coinbase adopted it. Technically, because it's on coinbase that makes it amazing, without that, though, it was never really worth owning. That one point does outweigh most all negatives with the coin, I guess I'm just not interested in owning something because coinbase adopted it, as the sole reason for its success. Before that the reason for its success was market negligence, and you will notice a long stretch where it was never successful, and that was the market treating it appropriately. There are times where things do well because the average investor only has so much knowledge at their fingertips.
Fair enough. I guess I don't see the swings in LTC like I do other cryptos so the thought was to keep my money in something more "stable" to ride out the next downturn. I suppose I could go into cash but I'd rather have it in a coin ready to deploy.
I will admit today totally floored me I was not expecting such a huge jump on such grave news as the potential split and a majority of markets closing up shop July 31st into August 6th You would think news like that and that much uncertainty would be cause for a sell off? Perhaps this weekend will be the huge sell off which seems to happen 9 our out of 10 weekends
Good analysis. Thanks. I see you follow forex? Do you know a fellow Aussie by the name of Nial Fuller? Upvoted & following. Caught this on YouTube where I was already following you there. Cheers mate!
I don't. I don't really follow much forex.
The truth is always most sobering. We need to hear this to stay grounded. There are still many ways to play it. It doesn't just mean cash out and stay out. Remember though a fool and his money are soon parted and a word to the wise is sufficient.
BTW an excellent listen and free audio download: The Jefferson Bible. A cut and paste job by Thomas Jefferson, a secret study, very close to his heart.
http://www.learnoutloud.com/ Link removed -- appears to be broken.
Have you done a video or a post on how to convert crypto to USD? I'm looking for a good comparison between options like Coinbase, Tether, etc. I'm not sure what is best for fees and speed of settlement.
Tether on something like Bittrex would be much cheaper than coinbase. Coinbase you get hit with a 4% transaction fee in the US. I only use coinbase because I must have real USD at times, not fake USD Tether. Tether pairs with the dollar but few people are big enough to actually deal with the Hong Kong bank to exchange it for real USD. Tether just pegs to the dollar.
Tedd do u still think that markets is gonna come
Back down ??
yeah
Excellent YouTube clip Ted of Colorado! This has been resteemed by Community News for the benefit of all Steemians. Your observations and ideas have been followed by us and we are richer in STEEM Power because of it. We now intend on keeping our powder dry in accordance with your video - leaving the potential to acquire further SP at a later time.
Ted, please be sure to get yourself up-to-speed with all the latest Lord of the Steem developments as your services are always welcomed.