Crypto market signals stability
Whereas investor confidence was wavering and unpredictable during the 2018 bear market, 2019 is showing us a stable market which has so far supported sustainable growth.
From a bullish perspective this is a positive sign - and one which is hardly surprising. For the past year I have been attacking bearish sentiment on all fronts: the inane mentality that sells a long-term hold for short-term profit (akin to selling Microsoft shares in the early '80s), negative sentiment towards crypto - a disruptive revolution in international finance, the total disregard of a plethora of positive and substantial 2018 crypto news etc.
I've given up trying to get sheep to be brave or rational, accepting instead that it takes time for the herd mentality to realise that which the braver and more intelligent folk have seen far in advance. It appears that the new year has finally brought with it a measurable change in the market sentiment of the herd.
I can observe this clearly just by monitoring my own portfolio.
Some of my coins have been able to sustain promising growth, growth in reaction to good news. Unlike before, the positive news is now having an impact. The last time markets reacted to good news with measurable results was about a year ago, since then no amount of good news has had any impact. In a way this is a good thing - as I have said before, we sit on a time bomb of latent good news which has yet to be priced into the markets, one year's worth of good news. As positive sentiment does creep back, so this good news treasure trove will be rediscovered - with exponential growth effects. We're not at that time just yet though, so remain patient: sheep move slowly; but once this herd does pick up momentum, it should be another very impressive gold rush!
Four of my altcoins have been able to maintain very solid growth over the last week or more. TenX, Ethos, PowerLedger and STEEM hold the 3rd, 5th, 16th and 27th positions respectively on CMC "Gainers" list based on 7 day growth. The numbers are significant 113%, 100%, 58% and 37%, not bad for a week's work!
From https://coinmarketcap.com/gainers-losers/, modified by Bit Brain
I know that markets swing up and down, but this is not just a case of a little spike or two which fades away, these coins are able to maintain growth and show significant gains in volume.
The launch of Binance Jersey has been well received and people know that a Binance DEX is awaiting just around the corner. A new crypto hardware wallet announcement is probably going to help further.From https://coinmarketcap.com/currencies/binance-coin/
The TENX token airdrop has created interest, but not as much as the fact that they have finally issued cards 😃 (again), even if it's only in Singapore for now. From https://coinmarketcap.com/currencies/tenx/
Ethos has plenty of recent and exciting news in its favour, a price jump with a MASSIVE volume increase has been maintained.https://coinmarketcap.com/currencies/ethos/
@steemit powering down seems well received by the STEEM community.https://coinmarketcap.com/currencies/steem/
Continued adoption an high level publicity means that Power Ledger is starting to be taken seriously.https://coinmarketcap.com/currencies/power-ledger/
Of course the CMC "Gainers list" only lists coins which have traded over $50000 worth in the last 24 hours, I have many more low market cap altcoins with similar growth, though obviously high market cap coins are more reliable and able to sustain growth.
I also have several other high market cap coins whcih don't appear on the top 50 list, but which are still doing well in their own right. ICON is performing well, NEO has had a good 2019 and Substratum is looking very positive, especially over the last few days. My total portfolio is also slowly starting to gain value, signifying that my coins which are gaining value are doing so faster than my coins which are losing value.
Overall the market is starting to look genuinely positive and buoyed by proper positive sentiment. Honestly even if we only have neutral sentiment then I will be satisfied, neutral sentiment can soon be turned to positive sentiment as crypto continues to make bold strides into the economies of the world. You can rest assured that others will follow these coins and that the bulls will return soon, even though a few dips and hurdles are certain to be encountered along the way.
Yours in crypto
Bit Brain
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Steem, behaved well, in my opinion, broke a bearish trend of very long term, more than 2 years. I hope that all current problems in the administration will be solved, so that the value indenpendence is much better.
As for BTC, it had the same criteria as you, that today, January 20, it was going to go up. And the climb yesterday to 3700, I was assured, since it broke the triangle and put us above, but today amaneci seeing a fall, my closing below the triangle: s was disappointing, I do not know what you think. Even the EMA (4) short term did not break the EMA (18) in the medium term. Also seems to have broken, the trend rising from December 14 or so.
Will we go to $ 3200?
It's a good question, I was also disappointed by the lower BTC prices today, but depending on how you construct your triangle, this isn't over yet. I aim to post about that tomorrow.
I share your long-term optimism about the crypto space. You make a good point about the hoard of 'good news' waiting to be acknowledged. For myself, the impressive growth of the Lightning Network should garner some positive price attention later this year.
Indeed, and many others too. It's now just a question of waiting for investors to reawaken and smell what has been lying under their noses for some time.
Divergence and uncorrelation to bitcoin will be the name of the game in 2019. I think we will see it soon too!
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Ah yes, the uncorrelation which was looking so positive at one stage, but which was prematurely aborted by the bears. When BTC stopped growing and the alts ploughed on (a year ago), I held much hope for them. Likewise, BTC did well to break away from the performance of stock markets - yet it still seems to be drawn back into correlated patterns when the FUD peaks in the markets - rather frustrating. I hope that 2019 will be the year of that decoupling for good. Put it this way: I can't see any reason why it shouldn't be!
Thank you this is good to know
My pleasure