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Cryptocurrency and lots of speed bumps..!I believe the most probable scenario for the coming week will be : moving toward 2.05 trillions and we should wait for reaction to 2.05-2.075 level! Answering these question will help you make better decision regarding your crypto currency journey! Investing vs. Trading: What's the Difference? Investing and trading are two very different methods of attempting to profit in the financial markets. Both investors and traders seek profits through market participation. In general, investors seek larger returns over an extended period through buying and holding. Traders, by contrast, take advantage of both rising and falling markets to enter and exit positions over a shorter time frame, taking smaller, more frequent profits. Traders generally fall into one of four categories: Position Trader: Positions are held from months to years. Swing Trader: Positions are held from days to weeks. Day Trader: Positions are held throughout the day only with no overnight positions. Scalp Trader: Positions are held for seconds to minutes with no overnight positions. Traders often choose their trading style based on factors including account size, amount of time that can be dedicated to trading, level of trading experience, personality, and risk tolerance. How would you define yourself and your strategy in the crypto market? Reference Article: www.investopedia.com
CRYPTOCAP:TOTAL
by Moshkelgosha
1
TOTAL triangle or double top?#TOTAL Crypto total market cap in weekly time frame shows 2 scenario that may happen: 1. Triangle pattern: it will come down to touch the support line of triangle and if it is holding this support and go up, then it can break the upper line of triangle and head up toward 4T. 2. Double top pattern: if it is going to break the ascending support and neckline of double top, then it is possible to dump to 400B. (which it is far away from reality when crypto is going to accept more and more in the world)
CRYPTOCAP:TOTAL
by parissap
Why Cryptocurrency could not be a good store of value?First I would like to write about the number of days with more than -10%,-15%, -20% volatility in 2021: When you are looking at the total cryptocurrency market in 2021, you will notice in the past 266 days we have had 23 days with -10%, 11 days with -15%, and 5 days with -20% or more decline in the total cryptocurrency market cap. for Bitcoin these numbers are: -10%(15 days), -15%(9 days), -20%(2 days), and for Ethereum is , -10%(30 days), -15%(11 days) and -20%(8 days). I would like to call the day, washout days because if you consider leverage, more than 10% decline is enough to washout many ..! I believe these numbers clearly show Cryptocurrencies are highly volatile and speculative digital assets, because: The cryptocurrency market could experience more than a 10% decline every 11.5 days. Bitcoin could experience more than a 10% decline every 17.7 days. Ethereum could experience more than a 10% decline every 8.8 days. this level of volatility will cause problems for cryptocurrencies in the future unless they become more stable which makes them less favorable for traders..! Why Currencies Have Value Currency is usable if it is a store of value, or, to put it differently if it can reliably be counted on to maintain its relative value over time and without depreciating. In many societies throughout history, commodities or precious metals were used as methods of payment because they were seen as having a relatively stable value. Currencies have value because they can function as a store of value and a unit of exchange. Successful currencies have six key attributes—scarcity, divisibility, utility, transportability, durability, and counterfeit ability. The cryptocurrency Bitcoin has value because it holds up very well when it comes to these six characteristics, although its biggest issue is its status as a unit of exchange because most businesses have yet to accept it as payment. The reason behind the 500 K scenario: Bitcoin's utility and transferability are challenged by difficulties surrounding the cryptocurrency storage and exchange spaces. However, if Bitcoin gains scale and captures 15% of the global currency market (assuming all 21 million bitcoins in circulation), the total price per bitcoin would be roughly $514,000. I do not believe Central banks let bitcoin gains 15% of the market and if it happens, it means Ethereum has another 10% share of the market! Today, Bitcoins at its lowest cryptocurrency market dominance has 41.6%, I believe 514K can not happen because it means cryptocurrencies should have more than 50% of the global currency market..! at this moment US dollar share of the central banks' reserve is 59%..! You calculate the numbers for yourself and see if 500k could be realistic..! Reference article: www.investopedia.com blogs.imf.org
CRYPTOCAP:TOTAL
by Moshkelgosha
9
TOTAL Crypto Market Cap - Further Downside to come?Seems we have experienced a double top recently on the charts, followed by a trend and a support break. Watching RSI very closely for a break of the 50, but at this stage it looks like the retest of resistance at 2.199T hasn't gone well, pushing back down to 2.04T. Right now, if we don't clear this 2.199T level, I'm expecting a landing zone around 1.81T as a first move. Will need to reassess after that. What are you seeing on the chart today?
CRYPTOCAP:TOTALShort
by glennleese
Crypto market may experience another flash crash soon..!Looking at the weekly chart of the Total crypto market shows whenever we have a bearish Outside bar in the weekly chart, there will be a 22- 44% decline in the following week! If you look at the mid-July weekly candle, you see after a bullish reversal out bar crypto market went up 73%. Take weekly outside bars seriously..! What Is an Outside Reversal? An outside reversal is a price pattern that indicates a potential change in trend on a price chart. The two-day pattern is observed when a security’s high and low prices for the day exceed the high and low of the previous day’s trading session. Outside reversal is also known as either a bullish engulfing (after a downward price move) or a bearish engulfing pattern (after an upward price move) when observed on candlestick charts. Reference article: www.investopedia.com
CRYPTOCAP:TOTALShort
by Moshkelgosha
1
Cathie Wood predicted Bitcoin will be 500 k in 5 years, but ...In the past 24 hours, all crypto enthusiasts talk about " Cathie Wood predicted Bitcoin will be 500 k in 5 years". But she mentioned two Ifs: 1- Her price prediction depends on whether companies continue to diversify their balance sheets into bitcoin, the biggest cryptocurrency by market value, and whether institutional investors begin to allocate 5% of their funds to it. 2-She said, "because countries are now deeming it legal tender." El Salvador recently made bitcoin legal currency, while Panama and Ukraine are said to be doing the same. Now, let's dig deeper into this: In 2020, GDP for El Salvador was 24.61 billion US dollars. Ranked 103 in the world. Very, Very, Very small (less than 3% of Bitcoin market cap) In 2020, the GDP for Ukraine was 153.8 billion US dollars. Ranked 57 in the world. (less than 16% of Bitcoin market cap) In 2020, GDP for Panama was 53 billion US dollars. Ranked 70 in the world. Very, Very, Very small (less than 6% of Bitcoin market cap) Cryptocurrency adaptation: At the end of Q2 2021, global adoption has grown by over 2300% since Q3 2019 and over 881% in the last year. But the biggest problem is " Bitcoin losing its dominance in the cryptocurrency world and smaller market cap coins are more attractive for new crypto enthusiasts! In other words, People have already started looking for the next bitcoin..! Solana Cardano Chainlink could be good examples for this effort..! Bitcoin Market dominance Chart: This chart clearly shows bitcoin losing its dominance..! I believe anyone who believes Bitcoin could reach 500 K in 5 years should be able to answer these questions: 1- How many government-backed cryptocurrencies we will have in the next 5 years? 2- How many Business giants (Apple, Google, Amazon, Facebook,... ) backed cryptocurrency we will have in the next 5 years? 3- What would be the rate of adaptation in the next 5 years? 4- what would be the Bitcoin market dominance in the next 5 years? The answer to the first 3 questions is not clear, but I can talk about the last question. Bitcoins market dominance trend shows, bitcoin losing its market cap dominance constantly and in the next five years, it is highly likely that this number shrinks more..! I believe only impossible is impossible, but mathematically Bitcoin will not be able to reach 10,000,000,000,000 market cap (10 Trillion US dollars) in the next 5 years! If you want to know how big this number is: There is approximately US$ 40 trillion in circulation: this includes all the physical money and the money deposited in savings and checking accounts. Total money in the stock market, which is a mere $95 trillion. Gold's Market Cap Estimated Market Cap: $11.401 T The Market Capitalization of Gold is currently around $11.401 T. This value was obtained by multiplying the current gold price ($1,795 per once) with the world's above-ground gold reserves. The amount of above-ground reserves for Gold are estimated to be around 197,500 metric tonnes according to the World Gold Council (End-2019). Note that the estimated above-ground Gold reserves can vary by up to 20% from one source to another. As a consequence, it is safe to say that the current Market Cap of Gold is between $9.121 T and $13.682 T. 10 Trillion dollars is almost equal to the total Gold in the world! Apple market cap: 2.4 Trillion dollars Microsoft: 2.2 trillion dollars As of March 31, 2021, there was nearly US $2.1 trillion in circulation, including Federal Reserve notes, coins, and currency no longer issued. (rankred.com) The final question for Cathie Wood: Cathie Wood loves Palantir and claim they have the best AI technology in the world (which could be true). Palantir has bought 50 million dollars of physical gold recently, while they are discussing the future of bitcoin..! Why Palantir did not buy Bitcoin instead of Gold??? Numbers do not lie..! Reference article: www.rankred.com
BITMEX:XBT
by Moshkelgosha
15
Dump Money May Come Sooner As You Think 🤑Hi everyone, 📍 I have seen a very clear fractal in Bitcoin's chart in 2017 and the current price. 📍 I consider this bull trap and dumb-money. However, if it could manage to break the previous Highs I do not consider it dumb-money anymore. ⚠️ There are also a lot against comparing 2017 and 2021 due to the crypto-currency's infrastructure, regulatory, acceptance,etc. You should consider this just as a scenario. Wsh everyone a profitable life. Please share me your opinion and ask me whenever you got any problem and or question
CRYPTOCAP:TOTAL
by C_EWAVE13
2
TOTAL | H4 | Technical AnalysisThe crypto exchange, which lost $512 Billion (21.45%) in 2 days, is up 10.00% today. The reason for this decrease is a completely natural decrease because the stock market was continuing to rise continuously as of July 21, and the chart was beginning to swell. And no Index ever rises completely; it needs to rest somewhere. The inflated chart always explodes, the important thing is to find the time and withdraw from the market quickly, so I closed all the coins I shared on Sunday, this decrease was expected. In 2-3 days, the stock market may grow again, but until then, no coin analysis will be shared, and I advise you to stay away from the stock market for these 2-3 days. And if you are going to buy a coin, you should always analyze the exchange "TOTAL" (Crypto Stock Index).
CRYPTOCAP:TOTALLong
by joshahmdv
Liquidity Cascade, Whale Effect or a bigger Scheme???In this 5 minute chart, you can see CRYPTOCAP:TOTAL BITMEX:XBT CURRENCYCOM:ETHUSD FTX:SOLUSD KRAKEN:ADAUSD . This level of coordination couldn't be Liquidity Cascade or Whale Effect. What is it? I could not find an evidence base reason for it but this phenomenon is so big and fast that could not be Algorithmic trading of institutions or retail traders or what so ever..! I checked the 1-minute chart as well : It seems there is a superpower that overrules all other players..! I am 100% sure this is not the last time this phenomenon happens and it will be repeated again very soon, in less than 100 days..!
BITMEX:XBT
by Moshkelgosha
7