Crypto Surfing 8/9/2018 ( bitcoin down,charts, 10 etf's, 2 months,lessons learned, video)
find me on twitter:
https://twitter.com/Cointempo
--morning--
this morning things had not changed... market was slightly up and running parallel which i actually expected. we had a huge hit the last few days in bitcoin which is dragging things down. i expected that after going outside the bollinger bands we would head back towards the 21 day trend line but with the etf crap going on the market went way down. this said, we now broke below the band so i anticipate things will move up... it's just how the indicator works, besides, macd on the volume is swinging to the upside and is already crossing up on the 4hr chart. alt coins are all in green right now. price is moving up as expected towards the 21 day MA line.
--charts--
--10etf, 2 months--
i saw this coin desk article that says there will be 9 or 10 etf's pitched at the SEC for approval within the next two months. the first being heard in two weeks... i will hope for the best because it is what the market is unfortunately waiting on. even if this is true, i think money will come back into crypto... just not as fast without this ... and we may suffer more losses in it's absence.
article here:
https://www.coindesk.com/the-sec-will-decide-on-9-bitcoin-etfs-in-the-next-2-months/?utm_content=buffer8575a&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer
--Lessons learned--
so today i learned a hard lesson and i may still be learning it. last night after consolidating all my crypto on coin tracking i realized i was getting to a point where i was still able to profit from my original investment into diversifying my crypto portfolio.... but a few more days of this red cycle and i would be in the red my self... losing money... so i had to level with myself... am i willing to lose this money? i have been thinking it for a long time but the answer was no... i way over extended the money i should have put into this volitile market and thought i vbelieve in the long term success of this crypto market i also believe i needed some of that money back to help in acquiring a rental property...so i sold some eth and btc to usd to help me relax... getting me closer to my comfort zone as far as potential losses.
the lesson here is, dont put in more than you are willing to lose or gamble. i think i will have more comfort continuing to add to my portfolio once i know crypto has some foundation... it is so early and sometimes with all the news i read it is easy to forget that this is an emerging space, not a sturdy one. but i believe it will be sturdy at some point in the next 3-6 years. i haven't lost any money yet... thank god.
--video--
i have a video coming out soon about how to avoid crappy projects. more to come on that.