Daily Crypto Update: Ethereum & Monero Were The Winners Yesterday
After Bitcoin rose 12,5% two days ago, it slowed down a bit yesterday, but were still able to climb 3,5%. Lets dive right into it. Here is the daily chart for Bitcoin:
Comment: As you can see from the chart, Bitcoin set another ATH at 5846 on Bitstamp. The candlestick we created is kind of neutral but I do believe that we could charge higher here and touch that upper trendline you can see in the chart.
Ethereum:
Comment: As I mentioned in the headline, Ethereum was the winner of the day. It went up 11% and closed at 335. It also closed near the high of the day and that is bullish. However, it also touched the ascending trendline so that could slow things down a bit, unless we could break out from that trendline today.
Litecoin:
Comment: After Litecoins massive move 2 days ago (19%) it took a breather yesterday. Well, actually, it was down 10% at the daily low but formed a nice looking hammer for today and closed 1% down. I do believe that Litecoin could move quite a bit today and my next target is 66,5.
Monero:
Comment: Monero had a very good day and smashed through the descending trendline and close the day at 9,5% up, almost at the daily top. I am very bullish on Monero at this point, I do believe that we can move to 105 today so that is my next target.
Happy trading!
Good overview, thanks!
I closed all my Monero longterm positions a while ago. Although fundamentally the best one of the top 20 coins, I fear that its anonymity will keep it from mass adoption (governments banning anonymous coins).
Good luck with your trades!
All 7 billion people on earth does not have to use it, 1% would be fine by me;)
But seriously, I do see Monero as an insurance against all the other cryptos and should be part of every portfolio.
They cant ban the coin itself, they can perhaps ban exchanges for trading them but technologies will always find a way around this. Goverments cant compete with billions of people defending their financial freedom.
Please take some time to look into this: https://www.reddit.com/r/dashpay/comments/65fz68/dashs_privacy_feature_has_never_been_broken_turns/
Snowden praised Zcash. There are many who consider Zerocoin to be the best privacy tech. Monero has a hostile community and questionable anonymity. It also lacks additional features like User friendliness, Instant transaction and the fees are very high compared to Dash or PIVX. I've also heard good things about Verge.
Not a big fan of Dash, but you are right, there are other coins out there with good anonymity features!
What do you mean by "questionable anonymity"? After all, Monero is the only currency that has PROVEN that it is not traceable when alphabay and hansa got busted.
Agreed. That's what I meant with "fundamentally the best of the top 20 coins". Unfortunately from a commerce point of view, banning trading it on exchanges would most likely dump its price into nothingness, making it a very risky investment from a financial point of view.