Still HODLing : A Cryptocurrency Update for 09.10.2018
The avalanche hasn’t begun, but prices are on the cusp of black hole disaster. What can we do but wait, hold, and hope for the best? I just typed “Bitcoin” into the Google machine, and searched for recent news with goal of making of sense of price action this past weekend and today. The two top hits?
Crypto markets volatile with recent SEC suspension of two crypto related securities on the Stockholm stock exchange
Will Bitcoin Reach $96,000 USD by 2023
What can I make of that? Are prices going to erode further, or am I going to be able to move to Costa Rica in 5 years? I have no idea; just like recent prices, the news machines are volatile in the subject material they are publishing. One day it’s bullish, the next very bearish, then bullish, then a couple of exchanges are hacked, SEC rubbish about ETFs…you know the story. It’s amazingly frustrating, because a) I really do want to move to Costa Rica, b) smart money knows damn well what is going to happen with these coins in the future, and c) I want my 21 Litecoins to actually be worth something. I’ll take $500 USD each, please. I’ll even send LTC equivalents for a beer to everyone who reads this site when that price happens.
With that said, today I’m adding the following today:
Ethereum Cycle Chart : this chart identifies pivot high/pivot low averages so one can get a sense of how often short term price reversals can happen. Cycle analysis will now include Bitcoin, Ethereum, and Steem.
Pivot High / Pivot Low charts. Now these I thought of over the weekend while drinking some very good gin cocktails. The idea is that pivot highs and pivot lows happen, on average, x amount of days. If a pivot high or low doesn’t happen, and the longer it fails to manifest, the higher the probability it becomes a pivot high/pivot low will occur. It’s sort of like an oversold/overbought indicator. Will it work? I don’t know, but I’ll track it for a while. If it’s garbage, I’ll blame the gin.
And with all that said, please recall that this blog is publishing:
Random thoughts for entertainment purposes on cryptocurrency short term prices. This post is purely for entertainment value alone, and is not intended to represent or constitute financial advice. I DO own a position in all of these coins. Always provide your own due diligence and risk management in respect to investments.
On to the charts:
Bitcoin
Ethereum
Bitcoin Cash
Litecoin
Ethereum Classic
Steem
Cycle Analysis
Pivot High/Pivot Low Charts
Look at that Ethereum…it’s way overdue for a pivot low to take place. Talk about a freefall. Did I mention I own 12 of these? Not cool!
That’s it for today; please feel free to chime in or comment. I love getting feedback in this space. Good luck and good fortune to all of us. I do hope everyone had a great start to the new week.
I love litecoin. I probably said that before in one of your articles. I am a HODL too. I am keeping it for a hedge in care inflation runs out of control. I'm getting some Digibytes soon. I hope you get your return on your litecoins.
It isn't too bad with Litecoin; I was fortunate to get some right after it debuted on Coinbase. I did, however, buy all of the hype with the whole Amazon "using Litecoin" rumours in early 2018, and then bought more with my Bitcoin Cash dividend / fork . I knew better, but pulled the trigger anyway!
Don't feel bad. Do you remember that debut on coinbase with bitcoin cash? I thought bitcoin was going to go worthless and flow into bitcoin cash lol.cash. Then bitcoin cash crashed. What saved me was that coinbase suspended trading. I thought that behavior was suspicious. It turned out good. I made 4,000 last year on cryptos it helped me get a new car. So I nealry panic trade myself. Bitcoin taught me a whole lot about how markets work even the traditional stock market.
yeah that was a disaster of a roll out. I remember all the inside trading rumours floating about that night it hit Coinbase. I remember in early 2018 everyone trying to guess what the new coin would be on Coinbase, and everyone was hoping to get rich. Now they roll out ETC, and there is very little to no fanfare, and prices haven't done much
Nice trading! $4k is a nice bit of change! Congrats
I think the more coins coinbase adds the less likely for a pump and dump.
And thank you!
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