CRYPTOCURRENCIES (update)
On May 1st 2017 I made a post on Cryptocurrencies, which you can see here: https://goldtadise.com/?p=401921
Fully then asked me then to “keep (you) posted”.
Now that Cryptos are breaking out all over the Cryptospace, I want to make a brief update on the 3 CC that I covered in my last post.
IMO CRYPTOCURRENCIES ARE THE PLACE TO BE RIGHT NOW!!
The market cap of all the CC has gone up some 200% in the last 3 months (going from 15 to 45 Bilion) !! However this asset is still very tiny, since Apple could buy the entire market with 20% of its cash position !
CC have similar qualities like PM’s. However they actually cannot be manipulated in the same way, since their supply cannot be multiplied in infinite quantities by the big banks !!
Guys, I invite you to take notice of this opportunity ! I am a Goldbug; however the profits I made in 100 days (around 300%) are just too breathtaking to be ignored !!
Sorry for the quality of the charts and my lack of skill, but I think you can get a feeling of the bullishness right now in the Cryptospace !
Have a look:
XRP (Ripple): after breaking out of the descending bullish wedge is making a bullish flag right on the descending resistance line which now has become support ! This CC has a lot of potential !!
RIPPLE long term / short term chart
STEEM: is also breaking out of a multimonth basing pattern and breaking the descending resistence line of its previous highs. This CC could be preparing for a big big moove !!
STEEM long term / short term chart
ETHEREUM (ETH/BTC): Ethereum is the best known CC after Bitcoin (the CC standard). Relative to Bitcoin Ethereum has broken out of an inverted H&S pattern. One can recognise a nice big Cup and Handle formation as well. ETH could test the neckline once again but actually it keeps flying upwards in a very bullish manner !!
ETHEREUM long term / short term chart
Have a phantastic Sunday ! Stay safe and prosper !!
Thank you for the update.
The total market cap of all cryptocurrencies is about $40 billion.
Imagine if it becomes an alternate asset class in the next few years…
What site do you use for charting? thanks in advance.
http://www.tradingview.com
Thanks Dangermouse.
3 questions
1 are these stocks which can be traded ?
2….miniscule fractions of a cent ?
3….how come those huge drops after the IPOs….someone got creamed ?
Fully,
1. These are not stocks, these are currencies. You do have to do some research about ‘cryptocurrencies’ and ‘blockchain technology’ ! Jeff Berwick calls it the ‘evolution of money’. It’s a big deal !
2. Fractions of Bitcoin (which is actually worth north of 1500 USD).
3. ICOs (Initial Coin Offerings). Some “got creamed” (like Facebook, which went fron 40 to 17 USD, then back up to 150 USD).
Update: 2 hours after my post STEEM is up 38% !!!
wtf ! 24/7 these things go. Maybe the new generation looks at gold and go phooey.
In your experience, what is the best way to buy?
As I said in my first post: “I have an UPHOLD account to exchange fiat currency into Bitcoin (www.uphold.com) and a POLONIEX account to trade Bitcoin for other cryptocurrencies (www.poloniex.com)”. My favourite CC’s are XRP, STEEM, ETH and XEM.
Hey Dangermouse,
I used to use both Poloniex and Bitfinex for trading. Both have now been hacked. I ended up losing quite a bit of money because of the hacks. I stay clear of the exchanges now and store my cryptos privately. Unless you understand who you’re trusting with your value, beware of all these bucket shops.
It depends on what country you’re in. Fully was asking about Canadians and I’d say now that it’s QuickBT. I don’t know about Americans or others, the landscape is changing so quickly. QuickBT allows simple processing through Interac online and Credit Card to your own private wallet. You have to have your own private wallet set up thought which is pretty easy if you do a simple search. This is a shortened link to QuickBT: http://tinyurl.com/mjdkfas
I have not yet been hacked.
I send all my CC’s to my secured wallets.
Just looking for wallets to deposit my XRP and STEEM because I have lots of them. Any suggestions?