2nd Jan 2018 Bitcoin Price Reversal 📉 Aborted? When Moon? Steem Up 88% But Why? (The Cryptoverse)
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Story - Bitcoin Reversal Aborted?
Draw head and shoulders and narrate the components
Draw horizontal line where the neck needs to break
Draw horizontal line where the shoulder set a higher low (good!)
Story - When Moon?
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Double click the clean chart up
Show trend line bounce is also right shoulder
Show 50 EMA support
Show 50% fib level support
Highlight 16.5k as key resistance
Mention downtrend line on lower highers forming wedge
Bulls looking stronger than bears
Story - Steem To The Moon?
$5.95 All time high
43,457 sats
Steem Power explains how selling delayed allowing big moon.
Steem is the number 1 blockchain by real world usage.
http://blocktivity.info/
Steem value more closely related to fundamental utility than anything else IMO.
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thnx for explanation mate
Great information Chris! I was surprised to see Steem up so much up Thanks for these indicators and tools! I've really been getting into
Steem is the number 1 blockchain by real world usage.... Reference to this. I predicted steem to be $15-20 comes 2018. My reason was because of this real world usage. There is no Bitcoin real blogging page, the only important attached to it is the First cryptocurrency if I guess right. I wouldn't know anyway. Thanks for sharing this. At least some spook my mind today.
I wouldn't say that bitcoin has no real use, it can be traded for goods, services or other currencies (online of course, but the fact remains that you can get a physical good for some bitcoins for example). This is exactly the same as fiat currency, the dollars, real and yen that we use are only back by our trust in the institutions which enable this system (the trust that our money will be redeemed against a good/service).
The real spook is with fiat currency - all money which is created is only credit (where credit and debt are own respective economic objects, eg. they are traded and hedged upon). That means all currency in circulation is waiting to be paid back to central banks. With interest. Meaning the borrowing has to start over again. Cryptos are nothing like that! A btc can only exist in one place and cannot have a negative value. We can only use the cryptos we have and that are in circulation.
But I think you're right in saying that SBD is different because it is not mined and put into circulation in the same way as BTC or fiat currency. A productive base would definitely support value creation. @deanlogic draws a similar parallel to the rising price of pot coins, worth looking at:
https://steemit.com/cryptocurrency/@deanlogic/pot-coins-to-the-moon
Thank you, I think I understood everything.
The more one looks into money the more complicated it gets. :s Bottom line is either you're one of the money owners or you're just an indebted user lol
Thanks for these indicators and tools! I've really been getting into my stats and proba this year and am loving finding new applications for it. The volatility of crypto makes it just so much more fun :))))
But i'm not too sure about bitcoin. It seems to be keeping support despite what's happened recently. But today some cryptos don't seem so shaken by BTC price drops (not BCH and the like). Others were insulated from major loss over the holidays but are still following the upward trend. I think suggests support for crypto, less so BTC specifically.
In the long-term i'm not so sure about bitcoin. Critics love to throw around the story of the Dutch tulip bubble. Crypto is nothing like tulips, it is a new technology which opening the door to a new paradigm. So a comparison with the internet bubble is drawn. Yeah, some companies rocketed up and dropped just as fast with lots of people losing money from bad investments. But internet was a new technology stepping into the public domain. Now it has changed everything and continues to do so. And many of today's giants are websites - Booble, Amabomb, Bbay etc. etc.
With blockchain we're coming onto something totally new which is finding new applications everyday, and the market is just going to keep growing in all aspects. Sure lots are going to crash and burn along the way, but some of tomorrows giants are just starting out now and can be invested in cheaply.
Don't think BTC will be one of them though, others are going to take its place. Thoughts?
You have my full support.
Great information Chris! I was surprised to see Steem up so much being new to the platform but the point you bring on the utilization is an important one. Value being created not only for the blockchain but also the community!
Brilliant update Chris, just what I needed to get 2018 going! Been following you for nearly a year now and your insight has been very valuable in learning (and earning!) through blockchain investments. It's going to be a very interesting year. Would love to hear your thoughts on Ark.io at some point too.
Keep up the good work!
Thanks . I always feel smarter after reading your posts. Please keep sharing your thoughts. interesting post
Steem is still under-priced. This is competing not only with the entire financial infrastructure, but also social media and media in general. Steem is going way higher than the current prices. Look at the market cap of Steem versus that of something like Twitter, FOX, or Bank of America.
Thanks for a thorough explanation! To the moon!
I just woke up 1h ago and when i saw the price of steem had gone up to 6 dollars, i was angry at myself for not having joined the platform sooner and started blogging :/ Hopefully i'm not late, already.