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Are cryptos trying to bottom?

Cryptos have been hit hard in the past 15 months or so. Most of them fell in price by 90% or more. This was needed, there was just too much junk, too much shitty projects and scams. The main question is, are we cleared of this now or not yet? And can the developments and improvements, that kept a strong pace, turn the trend around?

Last summer I was warning my readers that if Bitcoin falls below $6,000 you should get out as the space could shrink yet again. I know that some people like picking bottoms, there are strategies that make people buy down trends because they think they’ll miss a rally otherwise. I greet that, not because it would be a great strategy, but because we can find buyers when we need to get out.

If you follow me regularly you know by know that bottoms and tops are always a process, never an event. Don’t believe anyone who’s trying to convince you otherwise. They’ll most likely gain something off of you.

Anyway, cryptos are in the middle of a process that could end up being the bottoming process.

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Expecting a move in Bitcoin

Earlier this year I wrote a post about cryptos saying that they’re big, really big. I still believe that, technology has a good chance to disrupt in many fields. Even though the timing of that post wasn’t the best, my long-term views didn’t change much when it comes to bitcoin. We can see that more and more very important companies are getting into the space, they’re investing not only in bitcoin but the underlying technology as well.

But what does this mean for the price action? Sentiment has changed a lot. Greed is not present anymore. Neither is fear of missing out. But there are still a lot of terrible projects that have been funded with ICOs and are still behaving very irrationally. I’ve been tweeting about this quite a lot and I’ve been expecting ether to under perform bitcoin. Exactly this has happened so far.

Regardless, I’m getting some signs bitcoin might be getting closer to the end of the current bear market, but this doesn’t mean the pain has to end immediately. There’s still a very serious risk we could see yet another leg lower. Read More

Cryptos are big, really big!

… if I use the words of Mark Yusko and make them a bit more general. Not that I don’t believe in bitcoin, but I think the whole asset class is here to stay and disrupt. Possibly big time!

While a lot of people are saying bitcoin is a scam, one should buy puts on every crypto, and while there are many ICO frauds, I am not so sure about the negative outcome for the asset class as a whole. I don’t want to go over all the reasons why, but I think it has a lot to do with the same reasons as why the stocks are in a bullish trend, e.g. money is super cheap, we could be in the beginning of a secular bull trend (see my post from Sep17, Why are you so pessimistic?), etc.

But there is another one which could push the prices higher. Read More

Can Bitcoin Cash (BCH) start shining?

I will keep this blog post short. I do not want to get in the middle of the ‘one and only’ and the ‘shit’ coin arguments. No doubt about that Bitcoin had its moment, it was all over the place. People even started taking it as the only benchmark for your results, e.g. if your returns were lower than Bitcoin’s, then you suck, you are incompetent and what not. The arguments people were having, and still do, really got beyond good taste. But who am I to judge. Anyway, I don’t want to go there.

The main question I want to put out here is, can Bitcoin Cash (BCH) start to/continue rising? And, can it also outperform Bitcoin (BTC)? Read More

Bitcoin watch out below

Bitcoin was a great story so far. There was a proper euphoria with comments like “bitcoin price can only go up” and similar, expectations were high and everyone thought trading cryptos or doing some kind of business in the field is like a walk in the park. It seems that this is slowly but surely ending, at least for now; it was sweet while lasted.

When everyone I know, who by the way are everything but experts in financial markets, talk about it, is time to get worried. So let me start with showing you my tweet from 3 weeks ago and continue with a tweet from this Friday. Read More

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