[Video Blog #77] - Bottoms, Flash Crashes & 14 Days to Go (Cryptocurencies & Cryptoassets)
Please watch my video for my perspective and review.
16 days to go before that date - 1st of August.
I feel it will all just blow over however Bitcoin may have a flash crash before the 1st of August and it could happen at anytime.
14 day retracement?
Maybe a flash crash for a day or two?
Both?
Will it keep retracing for the months to come?
Lets hope not from an investment point of view unless you are buying up and improving your current position.
Is this the bottom...I feel not quite yet.
I will be seeing this out, preparing myself for the next great opportunity and waiting for August to finally arrive...in fact give me September 23rd.
What are your thoughts?
~Sebastian
Bitcoin Talk - @SebastianJago
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Nice to hear you mention LTC
You know how I feel about my thirds rule strategy @sebastianjago
Here is my post so you don't miss out this time!
Keep STEEM N ON,
Frank
https://steemit.com/thirdsrulestrategy/@cryptocrusaders/thirds-rule-strategy-btc-bitcoin-eth-ethereum-ltc-litcoin-vote-now-powering-up
Appreciate the link. Will check it out.
So far looks like LTC will be my next Thirds Rule Strategy to share with the Steemit Community and my Followers.
I doubt it's quite the bottom yet but people shouldn't expect to be able to time the exact bottom of the market. If you're thinking of investing in crypto, invest small amounts on a regular basis for the coming few weeks is probably good advice.
Prices are comparatively low now giving you a good reason to buy but due to the FUD around Bitcoin and the problem with their governance, the overall market cap is likely to decrease further during the next few weeks.
We saw the markets slide even more last night so I suspect we will see another small mid week stabilisation and next weekend we may see the true bottom. Rough seas ahead. Looking forward to next month already. :)
Thanks for the upvote on my comment, was a nice surprise :)
In any case seems the market is back now and very unlikely we will ever see it go below 65 billion again.
I agree the market is on a minor recovery however be prepared for continued volatility and aggressive pull back by institutional money. This market is being manipulated by big money at the moment hence why we see the entire market move as one regardless of Bitcoins price increase. We see inflation in price and buying across the board regardless of the fundamentals of the coin itself which makes me believe this "industry" is being pumped on purpose and by design.
Inflation in price is across the board although there is a reason that the projects within the Top 100 in market cap have much more potential and are getting much more money pumped back into them compared to the rest - because they have much better fundamentals
There is no proof that the market is being manipulated by big money. It may be likely but you say it as if it is a fact.
As much as I want to believe fundamentals are driving this industry as a whole right now, I can't. 80+ billion dollars entered the market in March/April 2017. 10 Billion dollars sloshed back in on Friday alone. This money is not coming from you and I as the last time I checked my $20 I have saved would not scratch the surface. Have a look at DGB today. Absolutely no reason for its growth in native price and/or market cap. Being pumped very deliberately over a 12 to 24+ hour period and as I write it is still going. Auto bots and moving buy/sell walls everywhere. This type of money is coming from a controlled group. The bog boys who want this financial market to survive and they are making big money along the way. They do this by creating 'activity' and 'attention' in the market which will bring new capital. They have the money to do so and that is what we are seeing. We have had a relatively quiet 45 days so this might be a sign that we will see some serious injections in the coming months leading into what I suspect a crazy September. I am not complaining...let it rise as I am on that wave.
I agree there is a ton of manipulation and no way for me to prove that institutional money is not going to create a huge pull back.
That being said there's enough people like you and me (and investors who have a few hundred k) who will basically never let the market cap of certain projects fall below a certain level because we believe so strongly in them. I think that this will create an effective price floor and my best guess is that this price floor is around 65 billion.
It's all speculation either way and I think it's important to be critical like you are. Nice discussion!
Yes, all speculation as it is out of our hands. Approx 65 billion does seem to be the current floor and it was tested last month (low of 62 billion). We do see institutional money come in and out and this influence will subside to a degree as the market cap for the sector grows to significant levels and becomes more diversified. For now it is very volatile and all we can do is play the smart long game. Lets hope we see a second major wave in the coming months and we push past that 115 billion ATH. I am just waiting patiently for August 2019 as that is the month I will make some new life decisions.
I don't think this is the bottom either. Remember how far we've come and how quickly. We are only at April levels now. In Jan we were below $1000. There could easily be further falls before we start to recover.
Yes very likely. Although this space seems to move very quickly so when we do hit the bottom I feel we will see a rapid accent as buying confidence improves.
I think you are right. depending on how the possible fork pans out, the bottom could be over before you know it and we could be back on the rollercoaster climb! Have to wait and see I suppose.
Maybe all of that chaos is happening now and it will all start to flatten out this week. Still flat on the weekends regardless and come August 1st I am sure we will see when the world does not blow up we will just surge forward again.
It could even be better than that if all negative news is priced in early. If things start to look better the price could increase even before 1 Aug.
I feel that is already happening to a degree. People also get accustomed to market influences and change and learn how to react accordingly. After 26th we will know for sure what direction the market is heading I feel unless it is going sideways. :) We may see a little more downtrend and some uncertainty. I prefer to power forward and stick to my long term plan.
You could be right. With miners signalling Segwit early, things seem to have calmed down and the price has gone up 10% in the past 24 hours. It could just be a dead cat bounce of course! Time will tell.
Yes we could see another slump this weekend. Seems like the trend at the moment. The Friday and Saturday crypto blues.
Great vid, the MSM are owned by the same people who make the money when markets crash or surge. Thanks for sharing.
Yes, a manipulated market for sure and they win in both directions.
Sounds like a good time to buy when everyone is freaking out. Cheers
Yes some great opportunities are available and I feel we have not seen the bottom yet.
Hi @sebastianjago, great content and upvoted like always. I've a question to an experienced cryptotrader like you. I made a top 5 of my favourite cryptoinvestment. Would you agree with some of them? Here is my crypto top 5 if you are interested.
I am not convinced on Golem and IOTA. I feel IOTA is having some functionality issues with their Tangle tech. Golem will take quite a few years to manifest as the technology and infrastructure require is immense. Great concept though. Cheap price too so most likely a long term hold. DASH and Litcoin will do well and I feel LTC will do really well in the next few months.
Thanks @sebastianjago for the feedback. I think we both agree about Litecoin. This one will do very well in the coming months. Also Dash is one to keep an eye on with the new roadmap. IOTA is my most risky one but I wanted to add one with a little more risk. There are already getting some big companies behind IOTA so I think it maybe can do the same like Ehtereum or Ripple.
@sebastianjago interested in your views on this: https://edwineconomics.com/2017/07/15/the-inconvenient-truth-about-bitcoin/
The article has validity although lost me in the last paragraph when it mentioned that Government needs to get involved. I feel we don't need government intervention at all. We can self regulate and form our own decentralised bodies. The entire point of this space is to remove the need and dependancy on the current system. Bitcoin does has its flaws however everything takes time to evolve and I feel we will only see Bitcoin climb over the next 10 years and when Blockchain becomes more mainstream we will see intervention of new tech and new crypto assets that may rival or takes its place. I feel Bitcoin will be the beast and a storage of value more than anything else. Take advantage of the NOW as it is a great opportunity to make huge gains before anyone interferes with regulations and manipulation. We have 2 to 5 years to capitalise.
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