Digital currencies such as Bitcoin & Ethereum are at the forefront of the digital currency revolution. Blockchain technology and Smart Contracts are the future of currency, storing wealth, moving money around the world, and business interaction.
Smart Money is quietly bringing huge amounts of capital into the Cryptocurrency markets. The Cryptocurrency market is still in it's infancy.
2/4/18-Bitcoin fell below $8,000 today. Our original downside target when Bitcoin was at $20,000 was $2,000. Smart Money is dumping the price of Bitcoin so they can buy a huge quantity at a discount. Smart Money buys in stages over time during down moves as the price moves lower and their cost is lower.
2/17/18-Bitcoin has moved up to $10,875. Most altcoins have gained some traction as Bitcoin heads up. An unknown trader placed a $400,000,000 buy order in Bitcoin and this has buoyed the market. Ethereum has risen to $975.
3/17/18-Bitcoin remains under pressure as Smart Money continues it's grip on the downside. An article in Investopedia spelled out the interest hedge funds have in the growing Cryptocurrency space. Approx. 220 hedge funds have popped up in recent years to invest in Cryptos. Government regulators want their fair share of the taxes and fees on Cryptos and hedge funds want their fair share of the profits.
3/24/18-Bitcoin is at $8900 and Ethereum is at $537. Redditt dropping Bitcoin payments and Binance contemplating a move to Malta due to governmental pressures. As more institutional Smart Money investors buy into Cryptos quietly behind the scenes the market will bottom and eventually start to rise.
4/12/18-Bitcoin is at $7800 and Ethereum is at $467. Headines herald the end of the Crypto market along with the continuing involvement of major banks and investment houses coming on board and gearing up for the coming Crypto market expansion.
4/21/18-Bitcoin is at $8751 and Ethereum is at $593. Both Cryptos are still ranging with upside potential. Recent news has the Crypto market heading for a move higher as the negative news has waned in favor of large operators gearing up for their entry into this new market. We believe that Smart Money has been quietly accumulating Cryptos for some time and has been alternately buying and selling in ranges already making a profit.
5/1/18-While the retail crowd waits patiently for a move higher signaling that the next mania wave has begun the pros have taken profits from the last leg up from $6000 waiting for a potential retracement.
5/20/18-Bitcoin dropped to $8360. Continued downward pressure on price. Ethereum is at $715. News continues to signal the end of the Crypto market as Smart Money is accumulating their position without fanfare.
6/12/18-Bitcoin's 10% price drop Sunday was blamed in the news media on hacking into a Crypto exchange among other things. An interesting article claims that the SEC in the USA is hiring a "Crypto Czar" to oversee the Crypto markets. If Bitcoin and the other altcoins are supposedly going away why is the SEC gearing up to oversee this lucrative market? Like anything else the truth of the matter is that the US government is gearing up to get their unfair slice of the Cryptocurrency pie.
6/18/18-An article dated June 11, 2018 in Investopedia stated that Fidelity Investments may open a Cryptocurrency Exchange. Many investment companies were initially very skeptical of the Crypto market but they are now looking to get their share. The article stated that Goldman Sachs recently opened a Bitcoin desk. .
6/25/18-An article at CCN.com stated that 256 Million new Tethers have entered circulation, which may spark a rally in Bitcoin. Tethers and the US Dollar are on a 1 for 1 basis. The article states that Tether's $4.2 Billion dollar trading volume is second only to Bitcoin. It seems that the Big Boys are gearing up for a move. Only time will tell when the Crypto market will start it's ascent of the upside.
7/1/18-Crypto news continues to be mixed. Some articles herald the coming collapse of the entire Crypto market and some announce the coming rush of institutional money into the space once Smart Money feels more secure. Somewhere in the middle lies the truth. Some Cryptos will collapse and some will take off as Smart Money piles into this easily manipulated but forward looking market. Two days ago Bitcoin, Ethereum, and others popped up 10% in one day. This is a sign of manipulation and not typical order flow on low trading volume. Something is afloat. It appears that someone turned on the Smart Money algorithms.
7/10/18-Recent news continues to highlight the hacking of Crypto exchanges and also presents a mixture of financial analysts calling for the end of Bitcoin but also the rise of the Crypto market. Large financial companies and governments continue to focus on building an infrastructure to trade and regulate Cryptos respectively. Bitcoin has stabilized below $7,000.
7/18/18-The Winklevoss twins have made headline news recently because the SEC in the USA turned down their application for a Bitcoin ETF. They want to be the first to offer an ETF based solely on Bitcoin. There has been extensive talk in the news of ETFs coming online soon. This is one more avenue for investors to add Bitcoin to their portfolios. The Cryptocurrency revolution continues to gain momentum. Bitcoin has moved higher in recent weeks amid the media flareup.
8/9/18-Coinbase announced that they are raising their daily Crypto limits to $25,000. While the skeptics are still calling for an end to Bitcoin, Coinbase continues to grow and dominate the Crypto exchange space. Wouldn't you surmise from their growth that maybe Crypto is here to stay.
8/27/18-Bitcoin is currently at $6729 and Ethereum is at $277. Bloomberg TV announced today that Warren Buffett may be buying into Paytm, a payment system company located in India that has been operating since 2010. It seems like the Crypto trolls have one more thing to explain away as the Crypto revolution steams forward.
9/11/18-Bitcoin is currently at $6308 and Ethereum is at $191. The news continues to flip flop between the end of Bitcoin and it's imminent recovery. Nothing has changed from my perspective. The price keeps ranging and the headlines keep coming but there have been no significant structural changes in the marketplace that I am aware of.
11/12/18-Bitcoin is currently at $6392 and Ethereum is at $211. There is no headline news for Cryptocurrencies and prices remain stable. The market is still in a holding pattern.
12/8/18-Bitcoin is at $3365 and Ethereum is at $88. Our downside target of $2000 from the 2017 high of $20,000 appears to still be in play. Still watching patiently as Crypto exchanges add new coins and governmental regulators around the world take notice. Big financial organizations are adding Crypto departments and ramping up their interest.
1/13/19-Bitcoin at $3,604 and Ethereum at $123 still stuck in a range. Slow start in the new year with limited Crypto news. We expect volatility to increase in 2019.
3/28/19-Bitcoin is at $4,018, and Ethereum is at $138.
5/10/19-Bitcoin is at $6,302, and Ethereum is at $172. The market has moved higher and there is starting to be renewed interest in cryptos. What everyone wants to know "Is the market starting a bull run?". It appears that there is a base under Bitcoin now and the market should move higher. Only time will tell and increased institutional participation will determine the course of this market.
9/9/19-Bitcoin rose to $10,325 and Ethereum is at $182. No news lately.
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12/8/19-Bitcoin has slid to $7,503 and Ethereum is at $148. No news lately.
1/19/20-Bitcoin has risen to $8,666. Ethereum at $166. News has been positive since year end. The digital currency market appears to be gearing up for an awakening.
2/4/20-With Brexit finally done, China coronavirus fears roiling world markets, and the USA heading into a presidential election year, it looks like full steam ahead for the cryptos. Finally.
3/8/20-Early enthusiasm has to be withdrawn. The crypto market has retreated. Bitcoin is $8674 and Ethereum is at $225. Back in a holding pattern for now.