Crypto Market Update 5/20/18

Howdy all!

It's time for another market update from your host Jimmy McCrypto! Let's jump right into it!

Bitcoin

Bitcoin has been seeing a recent pump. We saw it pump from around $7,900ish to $8500ish as of the time of writing. It did not follow the general sentiment which was that it was going to pump hard following Consensus. Speaking of Consensus it was a bit of a flop from what I have heard. We heard a lot of the old rabble that we hear whenever we go on reddit or 4chan. The same old news. Now, onto Bitcoin. The way I see it, Bitcoin has two options. It can continue pumping past the $8500 mark or it can go back down. Looking at the 4 hour chart if the candle closes above the $8500 mark we have the potential to go higher, if not then we may retest the $8000ish mark again.

Altcoins
The altcoins follow Bitcoin. Typically if we see Bitcoin doing well the alts tend to perform well. Scrolling through coinmarketcap I see a lot of green alts. Nothing in the top 100 alts seems to be pumping by more then 10%. As of right now I would be cautious with alts as they can change price in an instant depending on whether or not Bitcoin continues it's pump. As of right now I would still stay in either Bitcoin or Tether and wait to see how Bitcoin performs.

Parting Shots

This has been a quick update on the markets. I would be watching Bitcoin and seeing if it can pump higher or not. The
post Consensus pump many were hoping for is not out of the question but it does seem less likelier with each passing day. Remember to do your own research and take my advice with a grain of salt. Don't take my word as financial advice. Other than that, let me know how I can improve and I will see you next time! When you have crypto questions you better call Jimmy!