Crypto Bull Market Corrections & Alt Season
LinkedIn
February 12, 2021
Bitcoin regained all-time highs yesterday up to $48k, before correcting 10% lower today to $44k. The biggest news yesterday was that Tesla Motors used its corporate treasury to invest $1.5 billion into Bitcoin. Elon Musk, who is a massive influencer and idolized by many, gave his vote of confidence to crypto with his company’s purchase. Perhaps Tesla may make more profit with its Bitcoin purchases than selling cars so Musk made a smart decision. Although the Tesla purchase news enhances Bitcoin’s reputation in the long run and may influence more companies such as Apple to eventually follow suit, Bitcoin may be due for a larger 35% correction from short-term peaks. If Bitcoin continues higher to $100k, I expect it could correct to $65k before heading higher. However if we have a correction now prices could reach a low of $30k again. Whether the crypto market will continue higher or have a more significant correction, it’s a good idea to keep aggressively accumulating and dollar-cost averaging in the next weeks and couple months and be aggressive when Bitcoin has larger corrections if you believe in the 2021 crypto boom market thesis.
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Tags: Cryptocurrency
What’s Next for BTC Prices?
LinkedIn
December 16, 2020
Bitcoin has hovered around all-time highs for the last two weeks after a very brief correction just shy of 20%. A longer consolidation for several weeks and months around these prices is a good sign for a larger upward move especially as institutional awareness is increasing. However we should eventually expect multiple 30% corrections on rapid moves along the way in the next crypto bull market. For those uninterested in timing the market, this is probably a good time to dollar-cost-average over the next three months to be fully invested. For those trading the market if there is no pressure to move beyond the current all-time high, we may see support around the $14k level on weakness or any sudden external macroeconomic factors. If on the other hand there is an upside break-out to the $22k or $23k level we may see a 30% correction from there to around the $16k level before rebounding back to the $23k level and beyond. A good reference point is to target 30% off a peak as a good entry point.
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Tags: Cryptocurrency
Bitcoin Due To Correct 20%?
LinkedIn
November 25, 2020
After testing all-time highs around $19,800, Bitcoin prices have stalled today, but it seems like the huge resistance at all-time highs will be a significant barrier. Either a strong breakout or consolidation through all-time highs will set the stage for the next big crypto bull run in 2021. Whether prices come down from here or reach $20-$21k a 20% correction may be imminent to set up for a more consolidated and sustained bull market. Hence a 20% correction from the current peak might be a good target for market entry and a trade.
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Tags: Cryptocurrency
100x Crypto Weekly Episode 2: Bitcoin Reaches $16,000
LinkedIn
November 15, 2020
Bitcoin ended the week above $16,000 as prices continue to trend upwards toward $20,000. Any sudden surges around the $20,000 area might portend corrective price action back down to these current price levels. Longer consolidation towards the all-time high around year-end might indicate a more sustained boom cycle next year above $100k or $200k.
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Tags: Cryptocurrency
Bitcoin Breaks Above $15,000
LinkedIn
November 08, 2020
Bitcoin surpassed the $15,000 mark and is trending toward its all-time high of $19,600 by year-end if the momentum continues. The chart shows a daily high of nearly $13,000 in June 2019, but the hourly high around that time was closer to $14,000 so that may be a more appropriate support level for the most recent break out. We should expect a correction and a retest of the $14,000 level support. Bitcoin has also increased it’s dominance against altcoins as measured by the Bitcoin Dominance Index from a low of 56.7% on Sept 13th to 65.3% today shown below:
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Tags: Cryptocurrency
The Secret to Conducting an ICO Legally in 2019
LinkedIn
January 03, 2020
It’s been eye-opening to see how much crypto money has gone into token sales. Over $5 billion in 2017 and over $6 billion in 2018.
Despite the incredible numbers, most people who are in this space understand that money has largely dried up and the number of projects that are raising a lot of money have significantly slowed. Furthermore the SEC and regulatory bodies around the world seem to be tightening up and have started to take actions against organizations that may have issued tokens that are considered securities. Many organizations are planning to issue ‘security tokens’ and others are too fearful to issue any tokens at all. Some people have even declared utility tokens dead.
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Tags: Cryptocurrency
Crypto: Reddcoin, Dropil, Horizen, Funfair, TrueUSD, Bancor + 4 more..
LinkedIn
September 09, 2018
Today I discuss Reddcoin, Dropil, Horizen, Funfair, TrueUSD, Bancor, Nebulus, Bitcoin Private, Monacoin, GX Chain. We're up to #71-80 in the Top 100 by market cap..
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Tags: Cryptocurrency
