Enjoy this rise. I am quite certain that a major correction is due very soon.
Also, in my opinion, IOTA, BTG and BCH now have a lot of room to grow. They should be monitored closely.
Every coin/token price rallying over the past 4 days has been an amazing experience. Even the BT2 token at Finex rose (after falling to $40 range though). EOS, QTUM, ZEC, NEO.... well name any. I think IOTA and two others are due to rise any time now.
I think the market is in an oversold state. This rally may continue till Sunday, when the CME will list BTC Futures. I think that will confirm the news. 'Buy the rumor, sell the news'. I expect a major correction incoming. Every coin may initially lose more than 50% of its value, followed by a retracement, and then slow decline till a normal range is achieved. For me, normal is what the prices were on the 12th-13th of November. Prices may dip down further and then recover to those levels.
Once again, this is what I think. Please make your own decisions and invest the money only you are prepared to lose. I have learned it the hard way, but these are the tips I can give you after closely watching the market for the past 10 months.
1. Before buying any coin, always look at the BTC charts at various intervals. It sucks to see that your selected coin is rallying, and the moment you buy it the price goes down. Panic sets in and people start to get anxious. If BTc is going through a normal dip cycle on it's way up, then it is likely your coin will recover even if you have bought at a higher price.
2. In case you see your coin losing its value fast, do not panic sell. Look once again at the prices of every other coin and mainly BTC. Understand the trend. Calculate whether prices can recover to your buying point or not.
3. Prices always move in a cylic manner, i.e. up and down. Uptrend or downtrend, they usually follow the Fibonacci lines for recovery.
4. Do not invest all of your money at the same time.
5. Coins affect other coins prices. Always pay attention to the BTC pair. USD prices may vary across exchanges, but BTC pairs are almost within the same range with minor differences. When there is a major difference, it is usually because of depot/withdrawal issues between exchanges.
This is what I have learned. Use this wisely and you will all do well.
Please feel free to ask any questions. Happy to help. :)
The market was/is in an oversold state. Please look at the corresponding BTC pairs of every coin. They have all been declining. In the cryptoworld, the common denominator is BTC, not USD. It is a mistake just to look at USD prices.
For example, LTC/BTC pair was as high as 0.05 in 2013. Then it slowly fell to 0.001 I think over the next few years. This year It has touched 0.02+ twice already. Then it fell to the 0.006 range. Now it has just touched 0.02 range again. Looking at the USD price, LTC has had a good rally. But if you look at BTC pair, it is still within the same upper range.
In terms of USD prices, the market is in an 'overbought' state. Too much rise too quickly - some healthy correction, and then rise again. I am a fan of Elliott Waves and Fibonacci levels.
Like my friend @qdoc says, always do your own due diligence. Please do not take my word for it. I am just expressing what I think and feel. :)
BCH vs BTC
BTG vs BTC
BTG's pattern is a bit erratic.
If this pattern with BCH continues, then we may see BCH jumping to 3k-5k and BTC falling to around 10k -14k range (wide range, but now BTC can 'afford' these ranges) over the next 7 days.
Just observations. Please trade carefully.
There is a storm of regulations coming over the next few weeks. I do not expect SEC to approve the BTC ETF applications filed by CBOE. Please read the article on coindesk.
IMF has issued another warning today and has asked for countries to work jointly to regulate them. Ongoing issues in China, South Korea and most recently India are not going to favor a bullish sentiment.
Almost all charts show a parabolic state in 2017. In TA terms, there should be at least a short to mid-term correction here. Last ETF refusal lead to what I call a 'mini crash' in 2017. Look out for it.
I agree with you. I also think we are looking at a multi-month bear market to say the least. It can turn into a multi-year bear market too if the grip is tightened.
BCH is no exception now. The only thing favoring BCH is when Coinbase starts the OTC trading, which has not happened for international customers yet. And even when that happens, it will be short lived, for a few hours to may be a day or so.
IF BTC falls to 8k, you can expect BCH to go to $1100. If BTC falls lower, then BCH will nosedive to sub $1000 levels probably.
IOTA may in that case go to $1.1 (BTC at 8k) or even lower. XRP may touch $0.5. ETH probably will go below $600. NEO below $75. I am done with LTC as I don't see any appeal in it.
I think the flippening (ETH), rippling (XRP), and tangling (IOTA) is the one to watch out for in 2018. The four top dogs will be IOTA, NEO, ETH and XRP now. NEO in particular is promising. Also we should pay attention to QTUM.
Out of the 1350+ coins now, we may see half of them elimintated during 2018 round.
In the beginning it tried to be the silver to BTC, well it isn't. That honour now goes to BCH in my view. Then Charlie Lee tried to compete with ETH. Failed. Then harsh comments about IOTA. Useless.
Fastest coin is XRP. Best techs are ETH, NEO and IOTA.
Also, if you open any BTCUSD chart, and then select 'Compare', it will open a window, where you can select the crypto you want to compare with.
I am unable to edit the colors now as the chart is already published.
Hope this helps.