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Strategies & Market Trends : Blockchain and Cryptocurrencies -- Ignore unavailable to you. Want to Upgrade?

To: Frank Pembleton who wrote (983)	10/5/2018 2:03:55 PM
From: Frank Pembleton	1 Recommendation Recommended By roguedolphin Read Replies (2) \| Respond to of 7685

Well my fears came to pass but the carnage is happening mainly in the broad markets. My only position in cryptos at the moment is Bitcoin and it's looking good as a place for shelter, it is its own little bubble away from the real world. At some point the real world will meet the crypto world, there still is a veil between the two, but only because the 5G "internet of things" blockchain network has not been fully implemented, yet! The lines will begin to blur, technicals for different sectors of the real economy will have a bearing on the technicals for different sectors of the vast array cryptos. Will XRP start tracking the financials? When will Bitcoin be an inverted mirror the USD? Will Litecoin be affected by a sales slump in retail? My guess we're still a couple of years away from that kind of speculation. For right now I'm still anticipating a major rally in cryptos. Last year around this time is when Bitcoin really took off. In late September 2017 is when it closed up above the 50-MA Average and then ran. Bitcoin Cash (BCH) Late October when it close up above the 50-MA Average. Ethereum (ETH) Early November when it close up above the 50-MA Average. Litecoin (LTC) Early November when it close up above the 50-MA Average. Ripple (XRP) Early December when it close up above the 50-MA Average. If the $10,000 target for Bitcoin by year end still stands...then I took a look back in time to see when the last time Bitcoin was at $10,000. That was recorded in early May, since then it has dropped about 35% Since May for the other big names: Bitcoin Cash (BCH) decrease of 72% Ethereum (ETH) decrease of 73% Litecoin (LTC) decrease of 68% Ripple (XRP) decrease of 45% These stats suggest that Bitcoin is far less volatile then the others, less downside. Also I consider it a leading indicator, to only diversify out of Bitcoin AFTER it breaks out. Still looking for that "golden cross" and until that happens we're still in a bear market. something I found on twitter: Bullish/ Bearish Triangles via @canuck2usa pic.twitter.com/321A1XqY5s — Steve Burns (@SJosephBurns) October 3, 2018