#$btcusd

Crypto Market Crumbles To New Year-To-Date Lows, Where Does it go Next?

On Thursday, investors awoke to a promising sight — a $300 candle that brought Bitcoin’s price off a $6,150 low — so some thought that the worse for over for the market. But, as some investors were lured into a false sense of security, the market fell even further to establish new year-to-date lows.

There’s Blood In The Streets!

As some like to describe the current state of the cryptocurrency…

This is an excerpt from a post that originally appeared at The Felder Report Premium

There may be no better proxy for broad risk appetites right now than the price of Bitcoin. Gold is up 11% year-to-date; the S&P 500 is up 18%; the Nasdaq 100 is up a lofty 32%; but Bitcoin leaves them all in the dust. The cryptocurrency has climbed 900% so far during 2017.

Predictably, this stellar performance has pulled in a massive amount of speculators hoping to find the path to easy riches. How do we know that so many folks have now jumped aboard the crypto express? Well, it’s difficult to quantify but Google trends tells us that “Bitcoin,” as a search term, is now more popular than “Beyonce,” “Taylor Swift” and “Kim Kardashian” combined – and by a wide margin.

The popularity of trading Bitcoin has now reached the point where none other than the New York Times sees fit to declare cryptocurrencies, or more specifically initial coin offerings, “The Easiest Path To Riches On The Web.” Not to be left out, CNBC this week published a brief tutorial on trading crypto with your smartphone and MarketWatch featured a teenage bitcoin millionaire who now forecasts a $1 million price target.

These are exactly the sort of headlines and stories that characterize a speculative mania otherwise known as a “bubble.” For anyone who was around during the dotcom mania this should quickly bring back memories of all the folks who flocked to day-trading tech stocks. But to really understand the mania you need to look no further than the primary argument in buying crypto in the first place. Investors here claim the value comes from the limited supply. The trouble is there is an unlimited number of types of coins that can be created!

What makes the “initial coin offering” craze that much crazier than the day-trading mania is that these are essentially nothing more than very thinly-veiled ponzi schemes. In fact, someone saw fit to to actually create a PonziCoin (at least they’re up front about it).

Now some will make the argument that it can’t be a bubble when so many are calling it a bubble. These folks should have learned this lesson during the housing bubble. The fact is it’s only a bubble once everyone acknowledges it’s a bubble. And by the time they do the game is up.

We’re seeing the very same thing in Bitcoin today. Crypto traders know it’s a bubble. Like every bubble (or ponzi scheme) they’re counting on a greater fool paying an even more insane price so they can realize a profit. But it looks like we may have already reached the point of maximum foolishness. Time will tell.

I have written multiple posts about Bitcoin and I enjoy watching the price action of this asset every single day. It trades very well technically and that is due to the price action not being controlled by as many computers. It still trades off emotion and that is a very positive bullish thing for Bitcoin. 

Here I said it was very bullish multiple months ago. 

Then I flipped to Bearish (VERY…

Bitcoin headed back to $1000 $BTCUSD #bitcoin #crypto #cryptocurrency #investment

Here is a chart below, I feel that Bitcoin is headed back towards $1000-$1050 and that is inevitable in the short term. There it needs to go sideways and hold $1000.

1000 is an important psychological level to get over and hold to continue upwards. With this inverse head and shoulders it should get a good boost. What happens there is what matters. 800 doesn’t need to drop again. 

Why Bitcoin is Going Higher, Simple Reasoning (Chart) #bitcoin #crypto #cryptocurrency

This is all you need to see. Here are the past TWO major Mainstream run ups. Bitcoin is not even close to peaking the interest that it was before.

It will.

Bitcoin is a BUY HERE.

Bitcoin Bubble 3.0 - How High Can It Go? Very High is the Answer (CHART) #bitcoin #crypto

How far can it go this time. I want to show something to you below.

On the Left is today. On the right is the beginning of the second bit coin “bubble” in 2013.

Now look below.

On the left is the chart above on the day in 2013 where bit coin was initially slammed 25%. On the right is the same pink line circled including the 40 days after that day.

                        How high can this go?

V…

Bitcoin Will be back to Highs and Here is Why #bitcoin $BTCUSD #crypto #cryptocurrency #future

After the Monster daily runup as you can see below, bitcoin took a very large hit last night. In the big scheme of things this is nothing and mainly for everyone who bought the chase to 1100-1200. I still think Bitcoin is going to $2000+ before this run is over. And the chart below is playing along just right with certain indicators.

  This is a daily chart above and as you can see the Momentum…