I'm still long Bitcoin from the $9,000 area. See my previous analysis, linked below.
Mass adoption of crypto for payments, money transfers, & store of wealth is still possible, but in my opinion, not yet 100% reality. I'll go into more detail about my fundamental analysis at a later time. For now, these lines shown on this chart indicate the technical trend that Bitcoin is following. I don't plan to buy large quantities of more Bitcoin until price drops to one of these lines. If you are just entering the Crypto investment world, I would be cautious when spending a lot on Crypto currencies at this time. Ethereum & a few other Altcoins are the only thing I'm adding to in my portfolio at this time. This is my risk tolerance at these price levels.
Conclusion:
It wouldn't hurt to put a little money into any crypto right now, however, invest as if its all gone & you won't get it back. BTC & ETH are the leaders in the crypto space & it will take a while for others to catch up. I'm really watching XRP, as I owned it before their government ban & wrote about it in several previous analysis'. They have won their lawsuit & should be re-listed any day now. I'm adding more anywhere I can find it & slowly moving my crypto offline onto a hard wallet. No one knows where bitcoin will end up but if you're excited about getting into investing, take this opportunity to fully educate yourself about financial asset markets, fundamental & technical analysis, & blockchain technology in general!
Thanks for following me & reading my trading ideas!
Mass adoption of crypto for payments, money transfers, & store of wealth is still possible, but in my opinion, not yet 100% reality. I'll go into more detail about my fundamental analysis at a later time. For now, these lines shown on this chart indicate the technical trend that Bitcoin is following. I don't plan to buy large quantities of more Bitcoin until price drops to one of these lines. If you are just entering the Crypto investment world, I would be cautious when spending a lot on Crypto currencies at this time. Ethereum & a few other Altcoins are the only thing I'm adding to in my portfolio at this time. This is my risk tolerance at these price levels.
Conclusion:
It wouldn't hurt to put a little money into any crypto right now, however, invest as if its all gone & you won't get it back. BTC & ETH are the leaders in the crypto space & it will take a while for others to catch up. I'm really watching XRP, as I owned it before their government ban & wrote about it in several previous analysis'. They have won their lawsuit & should be re-listed any day now. I'm adding more anywhere I can find it & slowly moving my crypto offline onto a hard wallet. No one knows where bitcoin will end up but if you're excited about getting into investing, take this opportunity to fully educate yourself about financial asset markets, fundamental & technical analysis, & blockchain technology in general!
Thanks for following me & reading my trading ideas!
