The Cryptocurrency sector tends to trade in unison. The individual cryptocurrencies are highly correlated in price with each other. Today, for example, each one of these cryptocurrencies broke below the levels consistent with Bear Market territory. Ethereum (ETH) and Ripple (XRP) both peaked on January 4th, 2018. The others, Litecoin (LTC), Bitcoin Cash (BCH) and [...]Read more
The Cryptocurrency sector enters Bear Market Territory by dropping below the $400 Billion level in Total Market Capitalization according to Coin Market Cap (https://coinmarketcap.com/). The Cryptocurrency sector's low was reached on February 6th, of this year after a nearly 70% drop in 30 trading days.Read more
Bitcoin is leading the Cryptocurrency sector lower. By trading below $9,250, Bitcoin’s chart pattern will place it in Bearish Territory. In order for Bitcoin to enter Bullish Territory, its price would need to rise above $12,000. According to Coin Market Cap (https://coinmarketcap.com/), Bitcoin makes up 42% of the Cryptocurrency sector.
BULLISH Above $520 Billion BEARISH Below $400 Billion The market capitalization of Cryptocurrencies is turning lower and approaching the $400 Billion level, at which point it will be in BEARISH territory. Some technical analysis of the chart shows the Cryptocurrency sector has already broken through […]
The Dow Jones Industrial Average, along with the other major indexes, remains in a “Crash Pattern”. Over the last century, stock market crashes have had several common pre-conditions including: 1) The preceding market peak had been parabolic in shape and rather frenzied, 2) The Crash followed the preceding market peak by approximately 6 weeks or […]
Bitcoin or Bustcoin? Digital Gold versus Physical Gold Source: www.coindesk.com Introduction The first crypto-currency, known as Bitcoin (BTC), was introduced in 2009 and initially sold for roughly 6 cents. That same coin today now fetches approximately $19,000 sporting a monstrous 300,000-fold increase in its short 8 years. In 2017 alone, Bitcoin has traded from a […]