Tether Struggles to Hold Peg After Becoming UnTethered
Although Tether mostly stabilized and nearly regained its $1 peg after becoming “untethered” on Oct 15 2018, it is still trading under $1. This has some notable implications.
A Recap of October 2018 So Far
A lot has happened in crypto in October 2018 despite the price of Bitcoin staying rather stagnant. Let’s do a quick review of October 2018 so far.
ETCG Trading Below ETC Cost
A bit of milestone today, ETCG traded below the cost of ETC. For an asset that used to trade at over 2x of ETC’s value, that is a little mind blowing.
Bitcoin Trading in Tight Range With Lowest Volatility in Months
Bitcoin has been trading in an increasingly tight range, squeezed in a large triangle/wedge, between key EMAs, with bands tightening, with EMAs converging, resisting $6k over and over, and trading around mining costs. Meanwhile volatility is lowest its been in 15 months.
BTC Hitting Oct 2017 Support, GBTC Hitting Sept Support
BTC is hitting Oct 2017 support. That support has been holding well since Feb 2018. GBTC is hitting Sept 2017 support. That support hasn’t been tested since Sept 2017.
Be Wary of Bears, Be Very Wary of Bears
One might want to beware, be very wary of bears. Not just because bears are sly, but because many crypto pairs are setup to rise.
Does HODL Mean “Hold on For Dear Life?”
Sometimes HODL is said to mean “Hold On for Dear Life.” There is some confusion over the validity of this, but I have found a solid answer. Comment #119 on I AM HODLING, the post the HODL meme comes from, says “HODL = Hold On for Dear Life.” That comment was written on February 18th 2013, only 5 days after the original post.
Inspirational Quotes From the “I AM HODLING” Post
Here are some inspirational quotes from the famous December 2013 BitcoinTalk forum post “I AM HODLING” which inspired the HODL meme.
You Are Going to Need Ether for Coinbase Wallet
In order to use most crypto apps and access many cryptos, which you can do via Coinbase Wallet, you need Ether (ETH).
Crypto Market Cap Looks Like a Falling Wedge
The crypto market cap, or more specifically the cap of the top 10 cryptos, looks like a giant falling wedge for most of 2018. A falling wedge is generally a bullish reversal pattern.