We've been reading sooo many... unsubstantiated comments about this or that alt coin or Bitcoin coin etc etc "GOING TO THE MOON...."
I've done a bit of my own analysis after reading various views, articles and watching an untold number of Youtubes (WOW! don't some of those characters come across not too good...;-[....) and have come to the conclusion that across the board:
crypto prices need to consolidate by approximately another 10% (or more for some currencies - e.g. BTC, ETH, LTC) before taking off again....
Well, maybe some went to the moon and are now about to start orbiting the 'real world' with the price reductions (for most) and then stabilise. The lucky ones amongst us - sadly not me.... :-( rode the exciting takeoff and gained handsomely. I wonder how many people actually and really, honestly and truly forecasted it being anywhere near as lucrative as it has been - if they forecasted it at all.
I would argue that most just couldn't believe their luck!!!!
DON'T GET ME WRONG ......Good luck to you all! Whilst envious I don't begrudge you - at all! I hope to be one of those 'GIT ME A LAMBO...' chanters between now and this time next year.... except maybe I'll be a little more humble..... ;-)
RANT TIME - As of the date of writing this - what evidence is there for believing that prices will continue 'going to the moon' in the short term. Crypto prices will shortly be docking with the space station, recouping, refitting and upgrading before standing a chance of going any closer to the moon - or anywhere else for that matter.
It is my view that we should all be very careful leading up to 1st August. I'm not suggesting sell off and hide in the cellar until the 'hard fork' bomb goes off and the dust settles..... I recently took some profits from BTC and ETH and have reinvested it in alt coins . Most of those are negative or breakeven at the moment (I got excited and bough too early worried that the rocket would take off again without me....) I'm on hold now.
So, for all it's worth - my view going forward:
FURTHER SELL OFF ABOUT TO HAPPEN? I'm just wondering if there's a bit more of a sell off about to happen. We've all noticed the slow down in (what seems like) most crypto markets this past few weeks. My main reasons for thinking there might be is from tech analysis I've been doing on various coins but especially BTC, ETH and LTC then cross referencing to ANS, STEEM, STRATIS, LBC and a few others. The price has recovered but is still drawn down on a daily and what now appears to be evolving on a weekly perspective.
WEEKLY PERSPECTIVE:
WE ARE ALSO FLUCTUATING between there being more SELLING volume than purchase and it teetering on the edge - of a precipice.....?
The massive move up, that we are all aware of, couldn't really last (in my view) - could it? I just can't see a justification for this massive increase.
I will hold until approximately 10 Sept, see if the 'hard fork' bomb goes off in August and if there is any consequence and then review.
TO CONCLUDE - MY VIEW..... a sell off on e.g. BTC down to UK £1460 then a gradual/more orderly increase back to recent highs by say November unless some major positive announcements. This will be reflected (if not replicated) across the major coins and most alt coins.
Interested in any views - ***especially if you can back them WITH EVIDENCE... *😉
I agree with you, although I wish felt more positive about it in the short term! Thanks for sharing your thoughts!
Thanks for your insight. I was much the same as you and bought my alt coins later on and they are all in the red at the moment. I'm going to hold on all and just ride it out to see what happens.
Appreciate your feedback mrsportscience. Good luck going forward!