Bitcoin (BTC), ETH and XRP Price Action Updates And Ongoing Thoughts (#5)steemCreated with Sketch.

in #cryptocurrency7 years ago (edited)

Today, I will start putting my thoughts on a new cryptocurrency, Ripple (XRP), in addition to BTC and ETH. This is the first time I am 'covering' XRP and I don't own any of it yet. I should.

Charting:

In order to have a consistent styling, I have to switch from coindesk charts to something else. I am using cryptocurrencychart.com for now. I also found cryptowat.ch to be excellent, being informative, elegant and highly customizable. The latter is great for active trading and do not even show charts for over a-week period (at least I have not figured out how to turn mid- and long-term charts on the site yet). My readers know that this series of my notes are mainly for long-term outlook of the currencies. I will keep posting yearly charts. 

I like my charts looking great in every way. But I haven't found an ideal site yet. I would appreciate if anyone can give me recommendations for which charting program/website to use. 

To look at a bigger picture, all charts are in logarithmic format, instead the previous linear ones. 

BTC:

Two things to be noticed here:

  1. I would still love to see the price pull back to be around the $1,300-1,500 range, as I noted before;
  2. On the log scale, the recent $800 drop doesn't look that sharp at all, right? That's right, even another $800 drop would not look to be scary. It's just another good buying opportunity.

ETH:

This wonderful son of a bitch!

The recent $50 (25%) 'drop' caused all sorts of 'experts' to panic and scream 'bubble.' What do you see now? It was just a little blimp on this log chart! Now it's back and making new high. Way to go!

Now XRP:

I knew nothing about Ripple until very recently. I still do not know well enough to really express any opinions on it. 

But I know it's gonna be big. 

The underlying technology, from what I read, is superb. The ones behind it are major heavyweights in both tech and banking industries. It has a wonderfully, wonderfully well-designed website! And it is the 3rd (or the 2nd, depending on what moment you look at it) largest market cap on the cryptocurrency world. What else you want to know before you buy it? 

Just buy it, mine it, exchange for it.. Do whatever you can to get your hands on it. I am sure my friends  @balajis and  @prabhatchugh would agree with me on this. Also, for diversification purpose, just own all top 3 of the coins.  @motowngold, right?

Please give me your tips and leave me your comments below. I would love to know how you all think and learn more from each of you!

Until next time, take care!

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