Good morning Guys,
Today the market increased :). Not spectacularly but still in a good strong way. My 3 indicators for market growth are signaling a very strong move upwards in the coming few days.
- Bitcoin is up while the overal market is up
- USDT is down, below 1 USD
- Overal market cap shows an ascending trend
If BTC is up and the overal market is up this is a signal that new fresh money is flowing in.
The USDT price development gives the following information: If general market is down and USDT up a shift is made from crypto to USDT. This is the quickest way to trade out of crypto (be aware it is not the safest way). Today USDT is down while crypto is up. This is another strong signal.
If overal market cap is going up while indicator 1 and 2 are positive it is a true signal that the market has revitalized with strength and I we can expect a healthy market that is preparing for a strong increase.
On coinmarketcap.com there are so many good tool to analyse the market. One chart that caught my attention is the following one.
We can observe the following:
A. BTC's dominance showed a light decreasing trend that seemed to crash in June 2017
B. Altcoins are increasing in dominance, with Ethereum taking the lead
We have to monitor how this evolves. The graph looks more dramatic than it is. Total BTC market cap is USD 189 bn. If BTC doubles then the market dominance is normalized again.
It is naturally for an extreme situation to eventually go back to normal. BTC's dominance is normal. We don't know anything else, hence I expect BTC to show a strong performance in the coming weeks.
Have a nice weekend and take care.
i fully agree @abajnath even if we have a last down MARKET IS GOING TO EXPLODE UP i don't really care if it comes in february or march! We have the popcorn some good TWD episodes left to see and kids to play with :)
We have a mummies crypto group. We have popcorn every week. :-) should be a movie script. 15 mummies sitting in a cramped house overflowing with noisy babies playing while we make a fortune on the side:-) lol
@beiker! YESSS!!!
popcorn lol
btc up up up up
popcorn, beer and cheer for BTC... :-)
Really interesting, thanks for sharing your insight!
Thanks.
That's decent analysis , without beating the bush you've struck the chord by vividly stating three dominant points .
Thanks.
Looks like the market cap is gonna drop again soon: https://steemit.com/bitcoin/@investingtips/textbook-symmetrical-triangle-on-btcusd
Thanks for sharing information about cryptocurrency @abajnath .I hope the information is very useful for me
Your welcome.
with the information that you share more of the knowledge that I get
Good post
Thanks.
Bitcoin is up while the overal market is up
USDT is down, below 1 USD
Overal market cap shows an ascending trend
Great analysis you are awesome @abajnath
Thanks!
Good article. You are assuming like many others about the Bitcoin dominance will return of mean. However, this assumption may not be correct. It could also be Bitcoin dominance will slowly erode out as more and more altcoin will take its place.
Valid comment.
I think several "platform coins" like Neo, Qtum, and of course Ethereum will continue to take Bitcoins market share slowly. Also social platforms like this one will continue to move viewers from Youtube. Another aspects is the launch of Bitcoin futures; people can easily short Bitcoin now. I come from 15 years of trading in forex and futures. If I have a portfolio of altcoins; one of the easiest things to do now is to short Bitcoin futures against yours long diversified portfolio of altcoins for hedge against sharp correction that happened recently. Increasing short futures positions will creating a temporary downward pressure on the price of Bitcoins. They say Ether futures is months away.
Thanks for sharing your thoughts. I'm new to everything and i'll keep that in mind.
Good morning @abajnath . Thanks for sharing.
Thanks.
Really, your words are correct. Everything has increased. What do we have to do now? Thanks to the beautiful writing
Thanks.
I noticed this about 4 hours ago. Today's market looks good. Top 10 coins price starts increasing.
Feels good.
Thank you for the update @abajnath
Keep it up
Can you tell where bitconnect go last
Im asking this because i lost 650 dollar on bitconnect :(
Bitconnenct goes to 0. Sorry to hear @aslam8
Oh :(
I should i cover my lost money from ?
Any idea ?
Before you invest in "margin lending" programs
Try this test:
If I invest $1000 and get the returns they claim will I be a trillionair in 5 years.
Now think of how many people invest $10k, is it really possible for them to all be multi-trillionairs?
Poloniex will pay you for full return swaps (margin lending) you'll get around 5% app. Risk is if the site goes down, since you don't own the private keys. Site gets lots of trading commission profits, and registered in USA, so heavy punishment for running off with everyone's money.
Btcpop.co does p2p loans, you can lend over there and earn interest (if the borrower pays off the loan). Or you can fund instant loans, also around 5% app. Same risk from not having private keys,. But the site owner has made a significant investment in many people.. if the site goes under, he's not likely to get anything back.
keep tracking for coming 6 months
I think in a few more weeks it will be right back up where it was!
Thanks for sharing @abajnath such a informative post.
Thank you
I agree with you .sr kindly tell me about this news. Everything started with a suspicious transfer of 100 mln USD worth of XRP to an unknown account that has a 3 bln USD balance.
This very good news update about cryptocurrency.It is very informative and educative valuable.You have included more detail about all currency update.
This is very helpful for us.Thank you very much
Thanks
This is beautiful analysis well articulated, i bought some bitcoins when it was $12K and since that transaction, btc bent of dropping and rising in bits thereby not meeting my expectations but am quit certain that it will soon skyrocket more than expected. Thanks for sharing this analysis, i greatly appreciate.
Thanks!
Good morning dear Thanks for sharing Information about cryptocurrency Keep it up I always wait for your post.
Good morning friend. Yeah bitcoin is up while the overal market is up. Thanks for share information about cryptocurrency. Keep it up. Have a nice day friend.
Thanks.
Welcome.
O yes its reality that the currency of bitcion is increasing for the coming year
Awesome analysis realy good job...
Thanks
Your welcome my sweet fraind...
Good Morning. Bitcoin will increase its great news for all crypto currency holders, thanks for sharing news.
you are right great analysis
Thanks
High peaks are coming ...
Thanks for the update
your welcome.
Thanks so much, I’ve been looking for people to follow with interesting info. Naturallly a strong upward trend will deal with my 3 year old addiction to spending my money... but it’s nice to hear lots of points of view on the market. Lol. I might just be in a coffee and mummies club, but they have made $10000’s sitting around for a few weeks playing crypto and train sets at the same time. Lol. Thanks sarah
Very cool!
Your analysis is a timely reminder to ponder about the state of the crypto market. Although Bitcoin is supposed to improve its performance with the Lightning Network, more commentators are stating that they do not see BTC as a transactional crypto and are excluding BTC as a currency option - Microsoft & recently Starbucks. We have also observed that when BTC had its bloodbath recently, Steem did not decline in sync. It's great that Steem is delinked from BTC price movements. With the improvement in the general market momentum, rising number of Steemit contributors and use of Steem, we should see a nice gradual price appreciation. Thank you for your analysis!
Your welcome!
I appreciate your share of knowledge. Thanks.
Your welcome.
100% agree with you. great post
Thanks
still waiting for the bull run of bitcoin.. until this, i'm bored :(
It is a slow starter this year.
Looks like Tether is messing up. Apparently they have issued more coins than they can backup. I would use caution. Thanks
Agreed. Dont trust Tether.
That's a good analaysis ..
Bitcoin will go up this week ..
Thanks @abajnath for the update
Thanks
Thanks for sharing information dear good work i upvote and resteem your post
Many thanks.
Thanks for the informative post. I agree and believe bitcoin is going up very shortly. I thought it would have been sooner.
Good Morning Steem community !!!! Follow4Follow Upvotes
I followed you :)
Me too bro
Bro follow back me 😗😗
Done :)
My portfolio is up by 5% since yesterday.
I ain't even mad :)
Even more by now I guess. :)
I find this interesting but I can't say it will be something explosive, on the contrary, I think it's gonna be a perfect equilibrium because the ups and downs were too big! But I didn't understand the fact with 1 usdt below 1 usd cuz it's false or sure:)
Thanks.
https://steemit.com/steemit/@usmanjutt/steemit-more-info-to-all
this my link any one give me vote then i give them vote for all of his post
Good morning guys! ripple will get your old power.
Thanks.
Hey, I'm giving away up to 1 LTC ...
It's a survey ...
Question : What's your portfolio look like? ...
To answer: check out my steemit blog ...
...
https://steemit.com/cryptocurrency/@ninjad/crypto-journal-log-survey-1-ltc-reward-portfolio-1-29-18-10-12p
...
and read and respond to the post titled:
"Crypto Journal Log ((( Survey :: 1 LTC Reward :: Portfolio :: 1.29.18:10.12p )))"
Excellent Post
Thanks