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There hasn't been much to report the last few days, but it seems we are finally starting to see some action again.
We have had the 7750 area as out target for quite a few weeks now and have mentioned it numerous times.
With this key area now within grasp, we want to point out that we will be sticking to our original plan and taking 50% of our profits at this 7750 level.
In regards to our wave count, it seems we are still not quite complete with this current breakout seeming still very much impulsive.
Although we will be taking 50% of our profits at 7750 we do see further potential upside to the 8200 level a very real possibility, hence why we are not completely exiting the market, nor do we have any intentions of shorting (yet).
We will, however plan to short depending on how the market reacts at these levels, but in the meantime, we can only trade what we see, and what we see is bullish. 🚀🚀
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Coinbase has been all over the news this week - starting with the announcement that it will be exploring the possibility to list Cardano, Basic Attention Token, Stellar Lumens, Zcash, and 0x.
This smells like the machinations of the Coinbase legal team ensuring they do not find themselves in the same hot water as their BCash listing.
While nothing is set in stone yet, it is a good sign to see this pillar of the cryptocurrency universe taking their responsibility very seriously, operating like the responsible or at least legally compliant legacy institutions they seek to disrupt.
Aiming to remain in the lime light, Coinbase then announced that they were given the green light by the SEC to begin trading securities. However the next day that statement was clarified Coinbase has always been able to trade securities but they are now exploring the opportunity to do so. Good news nonetheless as this could open up a new avenue for investors to access cryptocurrencies.
Over the weekend the formation of The Coinbase Political Action Committee surfaced, another sign of maturity as the San Francisco based exchange continues to emulate the success of others.
In the U.S. a political action committee is an organization that raises money privately to influence elections or legislation, particularly at the federal level. For those avid fans of the TV show House Of Cards, you will understand how powerful this move by Coinbase really is.
Around this same time, Coinbase also revealed the formation of a strategic partnership with an unnamed $20 billion hedge fund and that it will be seeking partnerships with other large hedge funds too.
Recently Coinbase has been valued at $8 billion so it comes as no surprise that it is being wooed by these large traditional market players.
To top off a good week with some more good news, Facebook announced that it will be whitelisting Coinbase ads. Facebook is in the eye balls business so this will undoubtedly get Coinbase and cryptocurrencies across the screens of millions more eye balls, which translates into new retail money entering into the space.
So we have seen how Coinbase is winning but how does this help us win? The price of Bitcoin.
The markets saw a very nice bump this week and although alts took a subsequent tumble, the overall marketcap has held. What this means is that Bitcoin dominance is rising, money is not leaving cryptocurrency, it is moving to Bitcoin.
This is not surprising at all with all the talk of Bitcoin ETFs and insututional money coming in. they are focused on buying Bitcoin and later on their attentions may turn to altcoins like ETH or ZCASH.
A win is a win and it is nice to have old reliable Bitcoin doing well again, alleviating some of the stresses of the current bear market.
This strong Bitcoin momentum allows us to maintain our simple strategy of being BTC heavy and just letting this current market movement play out.
Coinbase is doing a stand up job representing the best interests of the cryptocurrency space, reflective in this weeks positive BTC price action.
We will be following the movements of Coinbase in the coming weeks as we eagerly await more positive news
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⚡️Modum Voting - 700,000 Participants Already ⚡️ Gotta say we are impressed with Modum. Modum was a top performer in the latest bounce so keep your eye on $MOD. They have a good understanding of the importance of investor/community sentiment. They communicate well with their investors gauging sentiment and satisfaction. Modum has been holding votes to see if the community is satisfied with their delivery of milestones set out in the initial whitepaper. The first vote had 700,000 participants. That is extraordinary for such a small cap coin. Made us think about the problem EOS had with the lack of voters to elect nodes when their mainnet launched, pathetic to say the least. In the opinion of the CIM team we see this as a massive vote of confidence for the Modum project - no pun intended. Modum clearly has an active/educated investor base that is in it for the long haul. If anyone would like to vote for milestone two you may do so here: https://modum.io/token/voting-milestones |
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The current situation in Bitcoin has not changed and we believe this pullback is exactly that, a minor pullback/cool down period before a continuation of the uptrend.
Our target still remains at 7.7k although judging our current wave count a break above towards the 8k region would not surprise us.
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The current situation in Bitcoin has not changed and we believe this pullback is exactly that, a minor pullback/cool down period before a continuation of the uptrend.
Our target still remains at 7.7k although judging our current wave count a break above towards the 8k region would not surprise us.
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The current situation in Bitcoin has not changed and we believe this pullback is exactly that, a minor pullback/cool down period before a continuation of the uptrend.
Our target still remains at 7.7k although judging our current wave count a break above towards the 8k region would not surprise us.
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⚡️Modum Voting - 700,000 Participants Already ⚡️
Gotta say we are impressed with Modum. Modum was a top performer in the latest bounce so keep your eye on $MOD. They have a good understanding of the importance of investor/community sentiment. They communicate well with their investors gauging sentiment and satisfaction. Modum has been holding votes to see if the community is satisfied with their delivery of milestones set out in the initial whitepaper. The first vote had 700,000 participants. That is extraordinary for such a small cap coin. Made us think about the problem EOS had with the lack of voters to elect nodes when their mainnet launched, pathetic to say the least. In the opinion of the CIM team we see this as a massive vote of confidence for the Modum project - no pun intended. Modum clearly has an active/educated investor base that is in it for the long haul.
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⚡️Modum Voting - 700,000 Participants Already ⚡️ Gotta say we are impressed with Modum. Modum was a top performer in the latest bounce so keep your eye on $MOD. They have a good understanding of the importance of investor/community sentiment. They communicate well with their investors gauging sentiment and satisfaction. Modum has been holding votes to see if the community is satisfied with their delivery of milestones set out in the initial whitepaper. The first vote had 700,000 participants. That is extraordinary for such a small cap coin. Made us think about the problem EOS had with the lack of voters to elect nodes when their mainnet launched, pathetic to say the least. In the opinion of the CIM team we see this as a massive vote of confidence for the Modum project - no pun intended. Modum clearly has an active/educated investor base that is in it for the long haul. If anyone would like to vote for milestone two you may do so here: https://modum.io/token/voting-milestones |
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Modum Voting - 700,000 Participants Already Gotta say we are impressed with Modum. Modum was a top performer in the latest bounce so keep your eye on $MOD. They have a good understanding of the importance of investor/community sentiment. They communicate well with their investors gauging sentiment and satisfaction. Modum has been holding votes to see if the community is satisfied with their delivery of milestones set out in the initial whitepaper. The first vote had 700,000 participants. That is extraordinary for such a small cap coin. Made us think about the problem EOS had with the lack of voters to elect nodes when their mainnet launched, pathetic to say the least. In the opinion of the CIM team we see this as a massive vote of confidence for the Modum project - no pun intended. Modum clearly has an active/educated investor base that is in it for the long haul. If anyone would like to vote for milestone two you may do so here: https://modum.io/token/voting-milestones |
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Regulators all over the world have begun to address the challenges presented by virtual currencies that mostly bypass regulated banks, financial firms, exchanges and central clearinghouses. Digital currencies, token sales and blockchain initiatives of all types have ignited a global phenomenon unlike anything I have ever seen, said J. Dax Hansen, a partner at law firm Perkins Coie who leads its Blockchain Technology & Digital Currency industry group. As the technology underpinning these developments disrupts products and services in nearly every industry, law makers, regulators and law enforcement are scrambling to keep up. (source: https://www.marketwatch.com/story/heres-how-the-us-and-the-world-are-regulating-bitcoin-and-cryptocurrency-2017-12-18) |
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Big Banks want to destroy Bitcoin before it destroys them. Bitcoin, the peoples currency, has the potential to become a new currency, free of the control of big governments and big banks. Thats why they both want to limit this potential. Each one in their own way. Big governments by stepping up regulations of Initial Coin Offerings (ICOs) and by shutting down cryptocurrency exchanges, as the Chinese government has announced recently, crushing cryptocurrencies. (source: https://www.forbes.com/sites/panosmourdoukoutas/2017/09/14/why-big-banks-attacked-bitcoin/#63f20bab6c53) |
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I preferably check into coin telegraph daily for updated crypto news and sometimes I have a trusted YouTube channel which discusses present news about cryptocurrency without any bias. He will discuss the positive and negative of the news backed by references. I don't actually check other sites because almost all of them is paid news and they will just publish the news they want.
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Long term investment to company or coins which has a potential to grow more like Cardano XRP VECHAIN and ETHEREUM. Short term investment for low capital coins which is great to accumulate more funds in order to add more position in long term coins. It will still depend on your technique if you are going to focus on long term or short term investments.
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Almost everything will become digital most specially our FIAT money. no more physical money which you can hold and cyber crimes will increase in number. The one world currency will occur and there will be one government which would lead the whole human race which I believe that it will cause disaster to everyone of us.
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