January's 2nd drain, my explanation (CME contracts), my 2018 predictions

loonyfool (51)in #cryptonews • 6 years ago (edited)

One year ago, Bitcoin's value was barely more than 1000$. People were doubtful, they surely didn't expect it to rise up to 20 000$ by the end of the year. Now there are still a lot of skeptical minds. Bitcoin should be replaced soon, according to some. According to some others, Bitcoin will reach 50 000 or even 100 000$ by the end of the year. Well I enjoy some craziness, you have to be crazy to achieve things in this world, but not that much. That kind of craziness is just insane and counter-productive, because it leads to hearing only conflicting arguments, that is to say things that contradict themselves. But let's discuss about those results first before analyzing and defining a clear strategy for the average investors (not for the big whales manipulating the market, I will also mention them).

Screenshot from 2018-01-23 06-37-13.png

---What happened

So less than a week after a quick recovery, the market has been drained again: it literally went down from 650 billion $ to a bit more than 500 billion $. Ethereum back under 1000$, Bitcoin nearing 10 000$, other altcoins all dropping...we know this story quite well now. But there is always a lesson to take from it. You have tiny fluctuations as well, as people keep on getting worried: that FOMO (fear of missing out) haunts the average investors' minds. But the big moves are being made by some big investors, some whales who are planning big contracts. I am gonna develop it now.

---My view

I predicted it would happen, first of all because we've seen it over the past few years, January is ALWAYS the month when things are corrected. So this had to happen at least once, and you also have to look at what goes around this crypto world: big contracts, decisive contracts, are being negotiated: the CME contracts (CME is a risk management group looking to help big investors in cryptocurrencies). Those contracts expire on January 26th 2018. So look for this date. That's just how long Bitcoin can go down. Because you have to consider 2 possibilities, given the fact the investors are now trying to exploit the market to maximize their profit:

-either the investors are going short, which means they sold most of their assets and are willing to capitalize on a market going down

-either they are going long, which means they have bought some assets and are now trusting the market to grow back

Whatever happens, this is a transition period, so use it to buy more at discount prices before it all rises up. If you wonder where exactly to buy, my advice would be to buy a little everyday (Bitcoin and Ethereum mostly) before the 26th so that you can take benefit from every kind of price until then, as it can go down until the contracts expire on the 26th. But it can also go up, so if you begin buying now, you can still stop later if you see it's become too expensive.

So stop worrying ! You may not be among the whales who decide how the market is gonna behave, but you can still use it to make profit. You just have to make wise moves and be on the good side of the market.

As for Bitcoin predictions, I see it growing up through February and March, but with a few dips, as something can't just keep on rising up in this volatile market. If I had to make a prediction for Bitcoin in 2018, it would be one that is neither enthusiastic (like those saying it will fly to 50 000 or more) nor pessimistic (like those saying it will get replaced soon): it should probably manage to get to the 25 000$ spot, and when I say that, I am assuming it is much harder to go from 10 000 to 30 000 than from 1000 to 10 000$ (what it did recently as a "net grow over 1 year"). So my big maximal point for it is to reach 30 000$. But with all the other coins like EOS, Ethereum and the altcoins on the rise, I'm not believing it will go farther than that.

2018 will be a year of split-market for me: the market will get more and more divided, leading to many coins having close values. Ethereum will probably make it to somewhere between 15 000 and 20 000$. As for the other big coins, I see BitcoinCash, Dash and Maker making some interesting progress too, all somewhere between 5000 and 10000$.

Don't forget to read what I posted about Makercoin if you don't know about it:

https://steemit.com/newbitcoinquest/@loonyfool/a-rare-dual-system-inside-the-crypto-world-makerdao-most-unpopular-high-value-coin-and-dai-the-coin-of-stability

Last but not least, I know I haven't made a post about it yet, but you definitely have to follow Nebulas closely too. If I had one coin to recommend as a good gamble this would be the one. According to some people, it could be the next Google for the cryptos. As you know, we really lack some powerful, centralized search engine in order to find where and how to buy one cryptocoin or another. Nebulas could solve it all, provided their teams keep on maintaining the same pace. It seems a serious project. It can really go far, it's already at around 10$. YoBit is the place where you could buy it.

https://coinmarketcap.com/currencies/nebulas-token/

Now I am providing you some useful links that were helpful in order to build this post. Don't hesitate to read them for more details about what I reviewed here ! And may the force of Steem be with you !

--About the CME contracts and their expiration on January 26th 2018:

https://cointelegraph.com/news/first-bitcoin-futures-contract-expires-at-10900-win-for-bears

https://www.cnbc.com/2018/01/17/as-the-first-bitcoin-futures-expire-price-and-volume-concerns-arise.html

--About a technical notion in the world of trading:

https://www.investopedia.com/ask/answers/100314/whats-difference-between-long-and-short-position-market.asp

--About January 26th and how to consider it from your point of view:

That's it ! Thanks for your attention ! I will be back soon with more of the same kind ! Stay crazy and keep making fun of life instead of letting it make fun of you :D

MY CRYPTO-RELATED POSTS SO FAR : HAVE A LOOK IF YOU ENJOYED WHAT YOU SAW !

MY SOUNDCLOUD PAGE FOR EDM LOVERS AND MUSIC ENTHUSIASTS

https://soundcloud.com/user-845067406/hydrogen (with the most successful creation I believe, but you can also take a look at the others)

Screenshot from 2018-01-14 09-28-14.png

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#bitcoin #ethereum #predictions #strategy

6 years ago in #cryptonews by loonyfool (51)

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echowhale (60) 6 years ago

@echowhale team swimming bye irh your upvotes

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loonyfool (51) 6 years ago

Thanks a lot @echowhale ! :D

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five34a4b (52) 6 years ago

you always have great content

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loonyfool (51) 6 years ago

thanks I did my best again to give some tips and analyze the situation :D

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rajag234 (54) 6 years ago (edited)

Thanks @loonyfool for using Resteem Service ...Your post has been upvoted and resteemed

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loonyfool (51) 6 years ago

Thanks a lot @rajag234 ! :D

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rajag234 (54) 6 years ago

You are welcome @loonyfool

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cryptoclick (59) 6 years ago

Love your ending, May the force of Steem be with you :-)

It was funny, you said Maker and... I am thinking, what's that?? and instantly, your very next sentence, magically answered me my question. Nope, I did not know Maker, now I do, thx :-)

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loonyfool (51) 6 years ago (edited)

Yes the world of cryptocoins is there to be taken by us ! Knowledge is only power, we learn every single day with every single person on Steemit too, that's the power of this site, there is so much enthusiasm and positive energy right now inside this world, conferences full of innovative minds all around the world, thousands of programmers working daily, dozens of new coins created every week, billions of dollars inside the market, oil companies and all those people who rule the old obsolete world system are definitely fearing this trend now, but anyway, with the prototypes of cars working with water, they are already scared ! I was looking for some interesting opportunity to turn this world system around for so many years and now crypto has come into my world and I'm just dedicating every single day to it, we have to be glad this happened, this is the best way to turn this world around, Satoshi Nakamoto started all this, and whoever he might be I am thankful to what he did :D

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cryptoclick (59) 6 years ago

WOW, love it how you have said that, can feel the passion, the dream coming out from you!!

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loonyfool (51) 6 years ago

I really think what the mind can conceive it can achieve, if there's one thing I've been hating for years, it is the fact you let dreams at their initial state without trying to make them come true, and you can access them faster by learning more everyday I believe, knowledge is power :D

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