After a low near $1735 on Sunday, bitcoin is back up to $2132. Insane movement.
Free falling.... went under $2000 briefly today.
Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
After a low near $1735 on Sunday, bitcoin is back up to $2132. Insane movement.
Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
I dumped everything (ETH and BTC) yesterday during the rebound, except for 1 BTC that is still in the waiting period (one more day), which is probably good since it kept going up after I sold, as did ETH and most cryptos. Unfortunately I got out near $2200 yesterday and you can see it's over $2300 again.
The moving averages have been holding as resistance of late so I wanted to "sell high" just in case it decides to rollover again. I assume this bounce is all the folks who panic sold over the weekend scurrying to get back in. Now we'll see how these handle the resistance. A move and a hold above the MA's and I'll have to bite the bullet and buy higher. Otherwise, I'm looking to buy any failure here if there's another leg down or a test of the lows.
Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
I may not play it this way, but since everyone is expecting that sell-off, I am skeptical that it will happen - and may already have this past week. But technically, a retest of the lows is possible.
Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
Bitcoin soars as miners finally move to solve the digital currency’s scaling problem
http://www.cnbc.com/2017/07/18/bitco...g-problem.html
"Bitcoin miners are signalling their intent to support a new upgrade for the bitcoin blockchain that may solve the digital currency's long-running scaling issue.
..."
[COLOR=#0000ff][FONT=comic sans ms][I]"In the land of idiots, the moron is King."--Unknown[/I][/FONT][/COLOR]
I'm still holding over here. I know where Bitcoin will be in 2 or 3 years!
Power to the people!
Don’t Get Burned! Cryptocurrencies Are Like Penny Stocks: Doug Casey
http://www.kitco.com/news/video/show...asey---PART-33
[COLOR=#0000ff][FONT=comic sans ms][I]"In the land of idiots, the moron is King."--Unknown[/I][/FONT][/COLOR]
I agree with Doug Casey. With that being said, my investment is very small, just enough to keep interested in learning about this new type of digital currency. Perhaps one of them will be the next Amazon or Netflix? I would never invest my retirement or money that I might need someday soon. I think this will be the future, just not sure how or where it all ends up.
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