Uncertain Times - Weekly Crypto Diary #14
It's been another interesting week in crypto. At the start of the week I thought that we were going to moving up out of this bear trend and create the start of a new bull run. As we've seen however, the positive price action was met with a few barriers that has made the market re-assess the price action that we will see in the coming days.
WEEK 14
Total Portfolio Profit: 111%
Weekly Portfolio Profit: -27%
The week started off well and I didn't see that I would lose profit over the week. However, when you think things are going well in crypto, that is usually when negative price action strikes!
TOP PERFORMERS
Since most coins have gone down in value this week the coins that I will point out are the ones that haven't dropped as much as the others.
NEO: NEO has stayed smooth throughout the past month even though much around it has been extremely volatile. It seems that the market sees a lot of intrinsic value in NEO. Since it hasn't dropped all that much I foresee that NEO is a solid coin to pick for future success. Following from this I believe that platform and ICO tokens to be big hits this year. NEO falls straight into this category.
LTC: Litecoin has seen negative price action and fell below $200 for a while but is now hovering above it pretty solidly. Again Litecoin has a lot of news to come out over this year. I expect this coin to definitely test its last all time highs. When? No one knows, but there is a lot of hype around what Litecoin can become this year.
CONCLUSION
Sadly only two coins performing well this week. Yet I believe that the more bumps in the road now, the bigger the rise we will see in the coming months. I'm always a believer, and I'm on for the long ride.
Enjoy your week :)
Cryptos will be going nowhere until the US tax season is over.
Crypto can be extremely unpredictable in the short term but if you invest in a cryptocurrency with great technology it will reward you in the long term. Thanks for the enjoyable post!
It's about cryptocurrency post...love to read it and great analysis @cryptoreports....
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I was also a little disappointed with the price action this week. However, it just means you need to adjust your trading strategy.