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.
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.
BTC Big Picture. MUST READ
https://www.tradingview.com/chart/BLX/Q0tqA8L8-BTC-Big-Picture
❗️Don't forget to subscribe to our Trading View profile & press the like button. We would appreciate it.
https://www.tradingview.com/chart/BLX/Q0tqA8L8-BTC-Big-Picture
❗️Don't forget to subscribe to our Trading View profile & press the like button. We would appreciate it.
📍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?
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?
If I gifted you, what would you rather take: $10k in BTC or $20k in any other crypto of your choice but you can't touch it for the next 5 years. What would you choose ?
Anonymous Poll
71%
Bitcoin
29%
Any other altcoin
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.
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.
CryptoBullet
Bitcoin Dominance is now at 17 Month High around 62%. 🎯 The target of the channel breakout is almost reached. As long as resistance holds, BTC paired ALTs can recover 20-40%, but if it breaks higher than we'll meet the Bullish flag target, which is way…
🎯 BTC Dominance is above 70% reaching the Area of Rejection No.2
Well, we called it back in May, actually.
Well, we called it back in May, actually.
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
🎯 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
CryptoBullet
BTC dominance #update
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.
👉 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.
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.
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.
Worth noting that final decisions for Bitwise & VanEck/SolidX proposals expected to be made on Oct. 13 and Oct. 18 respectively.
BTC Update
https://www.tradingview.com/chart/BTCUSD/ox1mbuIr-BTC-Update/
❗️Don't forget to subscribe to our Trading View profile & press the like button. We would appreciate it.
https://www.tradingview.com/chart/BTCUSD/ox1mbuIr-BTC-Update/
❗️Don't forget to subscribe to our Trading View profile & press the like button. We would appreciate it.
BTC 12h chart
Look at how beautifully the price bounced off the 200 EMA on a reversal candle and on a high volume.
❗️The bad news is the bearish cross between the 9 EMA & 50 EMA.
We can expect a bounce to the previous support zone which broke down (10.6-10.8k) and then more downside.
Look at how beautifully the price bounced off the 200 EMA on a reversal candle and on a high volume.
❗️The bad news is the bearish cross between the 9 EMA & 50 EMA.
We can expect a bounce to the previous support zone which broke down (10.6-10.8k) and then more downside.
LTC/BTC: do or die
LTC established a clear triple bottom. This thing really needs to bounce off its support next week! Those who hold LTC don’t really want that support to break. Otherwise it will be a catastrophe & Litecoin might be over.
⚠️ Once Litecoin breaks this horizontal support, at least a 25% decline will be only a matter of time.
Combine this with leaked conversations between Charlie Lee and other principle actors involved with Litecoin, which show evidence of no significant work being done on the cryptocurrency code since the start of 2019. Nobody is interested in working on Litecoin Protocol.
LTC established a clear triple bottom. This thing really needs to bounce off its support next week! Those who hold LTC don’t really want that support to break. Otherwise it will be a catastrophe & Litecoin might be over.
⚠️ Once Litecoin breaks this horizontal support, at least a 25% decline will be only a matter of time.
Combine this with leaked conversations between Charlie Lee and other principle actors involved with Litecoin, which show evidence of no significant work being done on the cryptocurrency code since the start of 2019. Nobody is interested in working on Litecoin Protocol.
CryptoBullet
BTC 12h chart Look at how beautifully the price bounced off the 200 EMA on a reversal candle and on a high volume. ❗️The bad news is the bearish cross between the 9 EMA & 50 EMA. We can expect a bounce to the previous support zone which broke down (10.6…
BTC has returned to the previous support zone like we expected!
So, BTC bounced back exactly to the support zone which we mentioned in previous BTC update - 10.6-10.8k. Right now the price is stuck in that range.
9 EMA & 50 EMA started looking north. Break 10.8k and in a blink of an eye we are at 11.3k.
📍Key level is 12k. Breaking this would mean creating a higher high and open the way to new yearly highs. As of right now, going past the previous swing high seems unlikely.
9 EMA & 50 EMA started looking north. Break 10.8k and in a blink of an eye we are at 11.3k.
📍Key level is 12k. Breaking this would mean creating a higher high and open the way to new yearly highs. As of right now, going past the previous swing high seems unlikely.
📰 BREAKING: Tether is going to issue a new stablecoin, dubbed “CNHT” pegged to offshore Chinese yuan (CNH)
CHNT will be the fourth stablecoin to Tether’s basket, in addition to three existing stablecoins pegged to the U.S. dollar (USDT), euro (EURT) and the Japanese yen (JPYT).
CHNT will be the fourth stablecoin to Tether’s basket, in addition to three existing stablecoins pegged to the U.S. dollar (USDT), euro (EURT) and the Japanese yen (JPYT).