BTC, ETH and XRP Price Updates & Ongoing Thoughts (#14)
It's been almost two weeks since I last visited here.
I have been busy preparing our own ICOs. Yes, two ICOs coming in 2 months (we hope all goes well by then; one of the reasons for the timing you'd find out later on this post). If you're curious about it, here's a sneak peek: https://www.mcafeecoin.com/
We buy with the long-term belief that the cryptocurrencies are changing the world, for the better. This strong conviction has afforded me the peace of mind in holding onto our BTC (at around $430) and ETH (around $8), and buy more whenever there's a dip. We invest for long term, but we trade for the very short time frames, from a few seconds to a few hours. But don't try this at home, kids, as the TV commercials say.
BTC:
To me, BTC is not in a correction yet, much less a bear market. It hangs tough at the all-time-high level when you look at the weekly chart. But if you only look at the actual points from its all time high, it's a big drop of roughly a thousand dollars.
Is that scary? No!
If you are concerned about the points, you are a short-term trader. For any (good) short-term trader, any such volatility is certainly great for you. But if you're a long-term investor, the drop is not big enough, as it is still way above it's up-trending slop. You wait for more downside, like me, to buy more.
Can't you see that if BTC is $1,300, it IS still in a bull market?
Don't mix trading with investing. They are two totally different animals. But sadly most amateurs do.
ETH:
ETH has broken down below its upward strength for about 2 weeks now. For some of you who bought it at $400, it is somehow painful. But our readers know that you shouldn't be buying when it was so much above the up-tending line.
Where will ETH be going from here?
I hope it will go down more for the next 2-3 months. But it may just go somewhere on a side-way pattern. Either way, we welcome this much needed consolidation.
And it will be great for our ICOs. Call it timing, or just luck.
Now you know why I have been busy getting the ICOs ready. You want to offer your ICO when BTC and ETh prices are low, not at the all-time high, although a few years from now, who cares!
XRP:
Like ETH, XRP has broken below the powerful uptrend, from mid March to mid May, and it's going the side way since. It has also recently tested the lower trading range around 0.175.
Keep watching. That's all I know.
Previous Post In This Series:
ETH Looks Interesting! BTC, ETH And XRP Price Action Updates & Ongoing Thoughts (#10)
Stop Panicking! BTC, ETH and XRP Price Action Updates & Ongoing Thoughts (#8)
BTC (All-time High), ETH (All-time High) and XRP Price Action Updates & Ongoing Thoughts (#7)
Ethereum Will NOT Fail and BTC, ETH and XRP Price Action Updates & Ongoing Thoughts (#6)
Bitcoin (BTC), ETH and XRP Price Action Updates And Ongoing Thoughts (#5)
Bitcoin and ETH Price Action Updates And Ongoing Thoughts (#4)
Bitcoin and ETH Price Action Updates And Ongoing Thoughts (#3)
Hope Bitcoin Price to Drop More... (#2)
10 Months ago, When Bitcoin Was About $665, I turned bullish. (#1)
bitcoin goes to US$50,000 - 1,000,000 in 10 to 20 years! (#0)
Awesome job, now following you.... I was actually on Twitter trying to find out more about MCF coin and I ended up on this, great job
Thank you. Please subscribe on our website and we'll keep you updated.
Right now we're exploring a new platform that's superior to Ethereum. Prepare yourself for some awesomeness.
so are you saying you think it might be wise to sell any remaining eth?
or just stay aware of new developments
No. ETH is always a buy-and-hold for me. Our ICO is to promote a new technology platform that will solve some of Ethereum's scaling issues.
We certainly don't want to see another network conjestion during our ICOs.
that sounds really good, I look forward to it
Will keep you posted
Yes I am now subscribed, so I be looking forward for the updates
Thank you, @daudimitch
@longnshort
Great writeup!
Keep sharing great content.
THanks!!
Thank you, @qagiri!
Very interesting stuff your upcoming ICOs but also your analysis. I am thinking about a concept for a coin myself and MCF as well as IOB could be interesting for that. IOB is concentrated on the Chinese market, right? Or do you plan to attract foreign startups to work in China as well?
Definitely anyone who'd have a China focus. Keep in touch. MCF is for the accelerator-stage companies. IOB for series A and beyond.
awesome awesome, I missed your post yesterday and today looked up your account to ask for an update on your ICO's to find this!
I'm very enthusiastic about it and wow john mcaffe, I didn't realize you were working with him, a pretty well known last name! i'll spend some quality time learning about the details.
really really excited, thanks for the post and great review of the market
We don't only have a pretty face :-) We are now having RSK Labs working with us!
@kyle.anderson