Because nobody is talking a Bitcoin...
Almost every article I see on Trade View is regarding Bitcoin. I was going avoid the topic but what the heck. I have no fundamental analysis for Bitcoin because the actual coin doesn't exists... only the concept of moving money around the world more efficiently is the only value which is the block chain. I'll give you a little back round of how I first heard of the popular Cryptocurrency. I read an article in 2011 about some obscure internet coin created by a group of people that were some how associated with Magic: The Gathering. The coin was trading at about - I don't know- $26 a share. The article was explaining how the coin was used by global criminal organizations to launder money because of its anonymous feature. So i bought a couple of shares on some unknown app that I googled while waiting for my next college course. Long story short... the price blew up to about $20,000 a share. I get a call from my Mom (Whom I often have to help find the off button on her Compaq PC) about how she wanted to buy "The Bitcoin". I told that she should dump her life savings in it especially at the $20,000 levels (Jokingly). I suggested to stay far away from the crypto gold and she took that advice and thank goodness she did. But known the less people want to buy and trade it so here is my chart and my prediction of what will happen with the coin. It will fall to $5,000 where it will bounce around the 100 weekly moving average. The On Balance Volume will trade in a range while speculators try and get rich off the coin. I would buy the coin at $5,000 for a quick trade and sell it right away just enough to buy my wife and myself a meal at Mannys Steakhouse. Keep an eye on it! It is a very interesting concept that may have a place in this world.
Thanks for reading.
Thanks for reading.
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