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Diversifying Into Bitcoin: USD/BTC (BTC=X) Can Help Protect Retirement Savings

Diversifying Into Bitcoin: USD/BTC (BTC=X) Can Help Protect Retirement Savings

The attacks on retirement accounts come as other sources have become more difficult. Total cyber hacking dropped last year and hackers are looking for softer targets. Retirement accounts are particularly dangerous since they function like bank accounts and data for entry can be found on the dark web.

The massive data breaches that have occurred in recent months have put personal information for many retirees onto the dark web. Target, Sony, Microsoft, Capital One, and Facebook have all experienced recent data breaches — leaving consumers at risk.

With data in hand, hackers are able to access accounts. Since retirement accounts hold substantial sums, they are easy targets and promise fat paydays.

Of course, banking institutions seek to protect those funds through verification methods. Still, a well-seasoned hacker can find ways around those protections if the payoff is worth it. What’s more, since retirement accounts often sit unchecked for months at a time, losses are not quickly noticed or tracked.

The answer, of course, is to diversify assets. While cybercrime has certainly targeted Bitcoin exchanges, Satoshi Nakamoto’s original vision of security is as strong as they come. By simply using a hardware or paper wallet, funds stored in Bitcoin can be kept nearly-100% secure.

With volatility in the Bitcoin market, no financial planner would suggest keeping all retirement funds in Bitcoin or cryptocurrencies. However, diversifying into some of these options can allow retirees to protect a portion of their funds with certainty.

Of course, the potential for loss with a market correction is the most critical question. However, all retirement savings are at some risk of market loss. Even holding cash is an effective loss, given inflation. Bitcoin, while potentially risky, can also offer substantial upside and diversification is a helpful way to protect assets.

Technical Indicators

Overall, the bias in prices is: Upwards.

Note: this chart shows extraordinary price action to the upside.

By the way, prices are vulnerable to a correction towards 8,446.01.

The projected upper bound is: 10,029.14.

The projected lower bound is: 8,815.22.

The projected closing price is: 9,422.18.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 30 white candles and 20 black candles for a net of 10 white candles.

Three black candles occurred in the last three days. Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 71.2974. This is not an overbought or oversold reading. The last signal was a sell 1 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 67.50. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 3 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 80. This is not a topping or bottoming area. The last signal was a sell 1 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 5 period(s) ago.

Rex Takasugi – TD Profile

FOREX BTC= closed down -6.840 at 9,376.960. Volume was 73% below average (consolidating) and Bollinger Bands were 1% narrower than normal.

Open     High      Low     Close     Volume___
9,460.4009,483.3009,242.3909,376.960 24,711
Technical Outlook 
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period     50-period     200-period
Close: 9,135.09 8,035.07 8,867.67
Volatility: 37 50 56
Volume: 108,894 101,532 87,512

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

FOREX BTC= is currently 5.7% above its 200-period moving average and is in an upward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future. Our volume indicators reflect moderate flows of volume into BTC= (mildly bullish). Our trend forecasting oscillators are currently bullish on BTC= and have had this outlook for the last 29 periods.

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