​​The month of July closed red interrupting a streak of green. Is that critical?

By simply looking at the Monthly chart, you can not deny that we are in a strong uptrend. For now July looks like a minor pullback. One thing that should concern you is high red volume.

💭 Let's talk about something that you are probably tired of and fed up with.

We see many supposed crypto "experts" or "traders", let's call them this way, who like to declare that they are always right. Always.

First of all, it's mathematically impossible. No way you will be always right in the long run, even if you are the guru of TA or FA. Especially when we talk about TA. You have to realize that TA only says what's more likely to happen. Trading is about probabilities and money management. But let's get back to those "always winning experts".

Don't you make fun of them when they post their charts with two arrows up & down? We do. Especially after the price action when they say that they were right.

⚠️ Be cautious with these "experts. There are so many of them over the Telegram and Trading View! Do not follow their recommendations, because:

- Firstly, it's hard to figure out which direction they expect the market to go (due to their ambiguous analysis)

- Secondly, if they give an analysis, you follow it and the market goes in the opposite direction, you will lose your money, but that "expert" will write that he was right again and predicted the move perfectly.

Almost 250 Bitcoin ATMs have been installed globally in July.

By the way, the monthly all-time high is 255 ATMs installed back in March 2018.

Did you miss the bottom twice?

💡Here is our new idea on Trading View:

https://www.tradingview.com/chart/BTCUSD/oXOjFDCn-Did-You-Miss-the-Bottom-Twice/

❗️Don't forget to subscribe to our Trading View profile & press the like button. We would appreciate it.

​🥇 Guys, we are in the daily TOP Author List on TradingView again!

Thank you for your support! We keep rocking it together!

If you are not subscribed to our profile yet - it’s the best time to do it right now: https://www.tradingview.com/u/CryptoBullet/

​Since August has just started, here is an interesting observation

Historically, BTC returns in August have set the tone for the rest of the year. If August is positive, then Bitcoin for August - December is very strong. If August is negative, August - December is lackluster. This relationship doesn't seem to exist for other months.

Litecoin Block Reward Halving: 40 minutes left

📌 The coin reward is going to decrease from 25 to 12.5 coins.

​📍Previous LTC halving occurred late August 2015 and look what happened after it. 📉 LTC experienced a prolonged 75% decrease in price.

This time in 2019 LTC started its way up and, eventually, decline earlier than in 2015. Does history repeat itself and LTC will have a marathon to the downside ? If that's the case, Litecoin is done.

💭The reward for a block has already halved + the price is dropping + BTC halving is 10 month away. Who will mine LTC in this environment?

​Thanks for voting!

So, the results of this poll are very interesting not only because of the fact that the vast majority prefers Bitcoin, but mostly because we asked the same question late December 2018.

📌 Back in December we got the following results: 56% chose BTC & 44% chose Altcoins. That looked like a parity with a slight overbalance in favor of BTC.

👉 Now, 7 months later, the results are fascinating: 71% choose Bitcoin (❗️even if they are given double the money in any altcoin) & only 29% - Alts.

What a drastic change! After an insane parabolic BTC rally and prolonged Altcoin bloodbath, almost everyone wants only Bitcoin.

Look at what we wrote the day after the poll in December:

"It's important to understand that Bitcoin is the only coin you can hold for the long period of time because of the strongest fundamentals."

Now when the Alts have been consistently breaking down their vital supports and creating new lows (against Bitcoin), more people understand why Bitcoin is the King 👑 and why only Bitcoin matters long term.

🎯 BTC Dominance is above 70% reaching the Area of Rejection No.2

Well, we called it back in May, actually.

Worth reading again

BTC dominance #update

Bitcoin's dominance hasn't been above 70% since July 2017 & we see this as a definite resistance area.

🎯 Area of Rejection No.2 is a strong horizontal level + MA200 coming there + it's the final target of the bullish flag.

💡Expecting BTC dominance to go down soon and altcoin relief rally to kick off

What we are seeing right now

👉 BTC Dominance has reached its area of resistance and according to our timing indicator it is going to top next week.

👉 Meanwhile, after being in a free fall mode and experiencing an exhausting sell off, our indicator says that alts are finally due for a bounce this week or the next one.

So, let's connect the dots: BTC Dominance is going to top and alts are in an extremely oversold conditions at the local bottom = altcoin relief rally.

⚠️ However, we are not talking about full altcoin season. The environment has changed. For now we think this is going to be just a very good bounce.

Since alts have been in an unprecedented sell off, they have to bounce sometime and it's more likely to happen starting next week.

Are we 100% confident in this? Surely not! TA is about probabilities and what's more likely to happen and when. The indicator can be wrong and alts will continue to bleed. But what we are saying is that if alts are ever going to bounce, the likelihood of it greatly goes up within two weeks.

Recently Bitcoin hit it’s hashrate ATH - 80 EH/s.

The forks (BCH BSV) are like 40-70 times less in hashrate. It would only take a fraction of bitcoin hash power to utterly annihilate their whole existence.

​To understand the significance of BTC network infrastructure you need to take a look at the cost of 51% attack.

Want to run a 51% attack on the Bitcoin network?

📍You'll need to spend $1 million per hour!

But there isn't enough hardware to rent. And if there was so much hardware available, the other miners would pool to prevent it if it was detected. So, it's virtually impossible to pull off.

But what about BCH and BSV ?

It will only take $22k to keep an attack going on Bitcoin Cash and $10k on Bitcoin SV for one hour.

🔥📰BREAKING: The SEC delays decision on three Bitcoin ETFs today.

Worth noting that final decisions for Bitwise & VanEck/SolidX proposals expected to be made on Oct. 13 and Oct. 18 respectively.