Cryptocurrency opinions, op-eds, speculation, and insights. Oh, my!
Some alts like ETH are hitting April lows, some like LTC and ARK are nearing or exceeding December lows, some like XCP are hitting all time lows in BTC prices, and a few new coins are at all time lows in both USD and BTC. That might look like sales to you, or it might look like a sign of the end times. It is largely a matter of perspective.
Bitcoin went into correction mode after losing some steam this weekend, it predictably took alts down with it. However, there is still a nice setup across the board if some key levels can hold.
There is one Zclassic fork / Bitcoin fork (Bitcoin Prime) coming up and one fork related to Zclassic that forks Primecoin and Bitcoin (Anonymous Bitcoin).
The Winklevoss FUD set Bitcoin back, and that set alts back, but both Bitcoin and alts are still setup to break out of the 2018 bear market. Of course, being setup and actually doing are two different things.
Bitcoin’s weekly chart, Ether’s daily, Litecoin’s daily, and many more are all setup for a range of golden crosses. Simply put, many short term averages are about to cross over long term averages on the higher time frames… which is a bullish setup.
Bitcoin made some serious gains in July after hitting its 2018 bottom in late June and then completing an inverted head and shoulders reversal pattern. The reversal was in part sparked on by an upcoming Bitcoin ETF. So far Bitcoin is trading above $8k. Let’s look at how we got here and what might happen next.
Bitcoin Dominance in the crypto market hit a 2018 high with 45%+ of the crypto market cap being Bitcoin. This occurred due to Bitcoin gaining value in anticipation of a Bitcoin ETF while alts lagged. Let’s discuss Bitcoin Dominance.
The SEC is considering a Bitcoin ETF by the CBOE (one of two exchanges who trade Bitcoin Futures). A decision by the SEC is expected by August 16th. This has major implications in the crypto space.
Everyone is waiting for institutional investors to get into the crypto space, but what if they are already here and accumulating in “stealth mode?”
Bitcoin broke out of the $6k range it had been trading in, and that helped spur on a market wide rally. However, many alts (with a few notable exceptions) have steadily lost ground since.
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