Bitcoin, Ethereum, Ripple Our Trading Strategy this Week
$BTC.X $ETH.X $XRP.X
It has been a bumpy ride over the last couple of weeks which has been great for trading, as politicians the establishment and the Media pronounced Bitcoin all but dead nothing could be further from the truth.
Certainly the establishment are at war with cryptocurrencies, but remember they were also at war with Uber, AirBnB and even Amazon, politicians talk a lot but they can do very little.
Long term cryptocurrencies are not a fad, yes you will wake up one morning to find some of them are completely gone, the same can be said of “safe investments” like equities, if I woke up tomorrow and found GoPro, Tesla or Deutsche Bank had collapsed I would not be surprised.
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So on to our strategy, expect Bitcoin to get hammered as shorters jump in on the Bitcoin futures, we will be BTC buyers at $7500 should it get there, we expect to see it over $9000 during the next 7 days, the beating BTC will take at NYC open will pressure the other cryptos but not as much as it did last week.
Ethereum we expect to hold $800 and finish the week near or over $1000.
Ripple we hope to buy at 75c and sell over $1 in the coming week.
The crypto market is maturing nicely, the various denominations are beginning to trade independently, long term the outlook for the cryptos is still good, very good.
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A South Korean court ruled that bitcoin has an economic value. https://t.co/CpxwYlIHwR
— BTCC (@YourBTCC) February 4, 2018
— Bitcoin News (@BTCTN) February 4, 2018