Loading ...BitCoin Cycle Update
While we are waiting for Gold to find its next 5-6 month Intermediate Cycle Low (ICL) and Stocks to find a short term Trading or Daily Cycle Low (TCL), here is an update on what is happening with BitCoin. My Cycle Work shows that BTC found an ICL in late December but the bounce has not been very impulsive so we may be seeing another cycle of “Basing” before an undercut low. That said, I have not given up yet and do have long positions that are currently “Green” with stops at the early February secondary low or TCL.
Why am I tracking something whose parabola has broken down? Let us all remember that BTC went from $200 to approximately $20,000 in just two years. That is crazy price action that other markets have never matched and anything that can do that needs to be tracked, as I believe it will break out again after the necessary basing period.
https://surfcity.co/2019/03/06/bitcoin-gbtc-cycle-update-28/
JMHO Surf
That blast was a one off
It was the only crypto game in town
New technology will make BTC obsolete
Its the Blockbuster syndrome
again all IMO
Fully, You may be correct but I am going to disagree with you as I believe BTC will actually make new ATH’s over time. Also, all Cryptos seem to move into major ICLs in relative lockstep so I plan to track a number of them (I watch Ethereum and Ripple XRP as well).
Fully, I would also say that my research shows that the next generation of Millennials love Cryptos much more than Gold & PMs. Perhaps they never visit GoldTent, however, so I will concentrate my Crypto posts on Twitter from now on.
Surf, just the other day we were talking about digital currency. In a large sense, it’s already here…charge cards, moving money by way of electronic transfers, etc.
I think you are on and please keep posting your views.
I’m an old school guy, often referring to myself as a 57′ Chevrolet guy…Metaphorically.
But I also see the writing on the wall.
I do wonder if gold back digital currency might not be an item? It already is in some forms.
Caminex tokens were kind of po poo’ed here when it was announced. But I do believe that is one direction digital currencies may be headed
Oh no, Surf, don’t do that, please.
Surf, stocktwits and Instagram skew more towards millenials and have large Crypto following. Hope to see you post on those channels!
Surf City, I totally agree with you !!
Am still a gold bug and have not sold my PM holdings….
However Crypto Revolution has barely started yet and the next bull run will totally eclipse the previous one and of course any future PM bull run !!
I am bullish on gold silver and mining stocks !!
… however XRP and their Inter Ledger Protocol will likely be adopted by the IMF and Central Banks for liquidity purposes and will constitute a Bridge Currency between FIAT, Crypto, Inteenet of Things, …
XRP is the Rocket Ship – the opportunity of a lifetime !!
Digital Assets are the biggest thing since the invention if stocks in 1694 !!
Surf City, you are on to something !
Surf, what is your Twitter handle ? Would like to follow you.
Here you go:
https://twitter.com/SurfCity_Cycles
Thanks. Following you on Twitter now.
Edward C. Baig, USA TODAY
You grab your keys, smartphone and wallet when you leave the house. Would it be such a disaster if you left that last one behind?
In the not too distant future, it may not be. Your physical wallet is on borrowed time.
Your phone, after all, increasingly provides the utility in digital form for the many reasons you schlep a Costanza-sized billfold in the first place, from showing off pictures to making mobile payments.
Think about it. At the airport, you hand your iPhone or Android handset, rather than a paper document, to the TSA agent who inspects and scans your boarding pass.
You scan your phone entering ballparks, movie theaters and concert halls, too.
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Most states will accept an electronic copy of your automobile’s insurance ID card during a traffic stop.
Students at Duke, University of Alabama, University of Oklahoma, Temple, Johns Hopkins and Santa Clara can or will soon be able to use the Wallet app inside iPhones as contactless student IDs. Other colleges are presumably to follow.
A student at Duke presents his ID on an Apple Phone.
A student at Duke presents his ID on an Apple Phone. (Photo: Apple)
It may not be long before you can use your phone as your corporate ID as well, something Apple employees already do at the company’s Apple Park headquarters.
And yes, more and more of you are letting your smartphone sub for cash, debit and credit cards, through the likes of Apple Pay, Google Pay, Samsung Pay, Cash App, Venmo, PayPal and other payment services.
“We’re nearing the point where that pendulum is shifting to the preference for digital forms of payment (and) identity,” says Tiffany Conway, director of field marketing for government programs at Gemalto, a global digital security company that produces digital driver’s licenses.
Thanks Steins! Reminds me of the Mobile Payments ETF (IPAY) which is poised to benefit from the migration away from credit cards and physical cash/wallets to mobile payments. This sub sector has stronger momentum than the Nasdaq 100 so I’m long on this ETF.
https://www.etfmg.com/ipay/
Don’t touch my cash !
Remember ….No cash….no bank runs….all they need to do is LOCK YOU OUT .
Just yesterday i went to our local mall ( a very small mall) and ALL their digital systems were down
Cash only
I was giving loans to the locals.
Asking for 10% a day 🙂
All my digital cash is just that. My real cash is under my pillow!