Etherium/BTC Still Going Down
Ten days ago, I've posted that both Steem/BTC and Etherium/BTC will go down. Here are my predictions for the immediate future of Etherium, which I've been trading against since last night (I made a good 10% profit).
Obviously, I expect ETH/BTC to drop to at least 0.094, although I have the feeling that it may go well bellow that.
Have fun trading!
Check out some of my previous posts:
- DEK Photography: Stiff Competition
- DEK Photography: The Pier
- DEK Photography: Sparrowraptors
- DEK Photography: Gray Justice
- DEK Photography: Put Some Light on It
- DEK Photography: A Person on the Street
- S7 Photography: Pest Control
- DEK Photography: Reverse Lens Macro Photography
- DEK Photography: The Dreamy Railway Station Clock Tower
- DEK Photography: The Smelliclient
- DEK Photography: The Lightpost in the Center of the Universe
- DEK Photography: More Graffiti
- DEK Photography: Jogging with the Dog
- A Bulgarian Revolutionary: Petko Voyvoda
- DEK Photography: A Close Friend of Mine
- DEK Photography: The Cat That Killed Nikon's Dynamic Range
- DEK Photography: Black And White Sunset Over the Port
- DEK Photography: The Sunset Gazer
I've just gone short on ETH/BTC @ 0.10694413. Let's hope my prediction was correct :)
And it just hit 0.094! Glad my prediction was correct. Managed to make 6-7% profit (missed the 10% mark, as I was away from a computer). It's still going down, but I think a reversal is on the way, at least for the next several hours.
wow super analysis,
great work ;)
Well, it's just a prediction, hopefully a good one :)
Does that mean that a guy like me who has little investment in the BTC and Ether sell his stock or keep it, if its coming down to 2000usd then i might loose some money @dek
If you are asking in what crypto currency to keep your money, I would always suggest BTC. It's widely trusted and has a printing cap (unlike Steem, which will be printed non stop). ZCash and LiteCoin will be the other two big pretenders in the near future.
Although all cryptos are now falling, BTC will almost certainly get back on track - it may not be today, but eventually it will increase in value. Other currencies usually raise in value (like this current peak since mid May) when there's some money laundering going on - in this case WannaCrypt ransomware had a huge imapct.
Do consider that BTC is a software project and as such is always prone to hacker or other engineering attacks, which may bring its price down in no time.
I am new at trading but joined a crypto trading group recently. I just listen along but they all accumulated ETC from three weeks back. They feel ETC is well undervalued. I don't know the exact reason why but I can find out. When do you think ETH will bounce? Alot of them have big concerns with ETH because of the ICOs and crashes. Yet, they do think like you, that ETH is a good buying opp now and a strong long term hold as we wait for the BTC BIP 148. Hey look at that. Did I actually sound like I knew what I was talking about? Maybe I am finally starting to wrap my head around this stuff!
Hah :) Actually I think ETH will keep falling in price, like most other cryptos. I've already wrote about the huge impact of money laundering on crypto currency values. In this case it was WannaCrypt ransomware, which I believe spiked all cryptos since mid May (hackers laundering BTC by converting to all possible cryptos to mask their tracks).
So, as far as long investments go, I would go for BTC, ZCash and LiteCoin. And not touch Steem even with a long stick - it's printed non stop and even the creators of Steemit decided not to use it for the EOS distribution, but instead opted for Etherium.
p.s. I now see you mentioned Etherium Classic first - I can't really comment on it. But I remember reading recently some popular programmer joining the LTC team, who will try to increase its transaction speed, making it a faster version of BTC (on which it is based on).
I have been hearing alot of good things about litecoin. I will go and do my research more about litecoin and zcash. The more I get into this and see how unregulated it is. It is pretty nutty yet fascinating. Yesterday, this group predicted a pump and dump exactly at 10am PST. They knew exactly which coin it was going to be and the exact time. They were just watching and weren't participating because the P/D only lasted like 15 seconds. Everyone said it was almost impossible to get your money in and out that fast. Anyways, I will go back and check out your other crypto posts. I usually only pay attention to photography around here but now am slowly learning about this stuff. Good times!
I just edited my reply to you about ETC - read the p.s., if you haven't.
It's very unregulated. As in exchanges stealing your cash and no one to complain to. So, as a general rule of thumb, it's a good idea to keep your cash in a couple of locations.
I don't often post about cryptocurencies, mostly because I'm a bit disappointed by this market. First, it's much slower than Forex, which is frustrating. Then, I've seen the graphics of all cryptos follow that of BTC/USD (as most are traded only against BTC). So, generally, its pointless to trade a weak, untrusted crypto, with technical flaws, when you can simply trade BTC/USD.
Of course there are exceptions. Here and there some crypto project will fail (like the recent problems with ETH), creating an opportunity to trade against it. Or if money were laundered, the first currencies to decrease in the value are alt currencies like ETH (selling ETH and buying BTC, which can later be exchanged for fiat money).
That said, cryptos are now perceived as gold - in times of insecurity (terrorist attacks in the US and EU), traders usually invest in crypto or gold.
hey dek. thank you! I just sent you a message on steemit chat.
I will check it out as soon as I come back! Sorry for the delay!
I don't see any messages - my username there is the same!
hey dek. i guess the message got erased. i just went on and the message i sent to you is now gone. i was chatting with daveks and all our previous messages on steemit chat also got erased recently too. anyways, the message was nothing major. i was just about trading crypto and I sent you a link to this trading chat that i am on. They chat live about the markets. it is free to join so you have to take it for what it is. I am new to trading but I have been on that chat for a week and starting to learn more. I haven't made any alt coin trades using this group but i have watched them call out some pump and dumps. The other day they called a pump and dump for some crypto exactly at 10am PST. this group is against pump and dumps, people get kicked if they try to recruit people to do it but I just thought it was fascinating about how unregulated and a free for all this crypto market is. here is that link to that telegram chat if interested: https://t.me/cryptogrinders you do have to open a telegram account with a phone number but you can put any name you want. completely anonymous. just thought i would share since we were chatting about it.
I see, thank you! :)