Free Daily Observations 23/06/18
Daily Observations 23rd June 2018.
For Nouvive Free Clients.
The market in less than 24 hours dropped by 10 per cent – representing the second week in a row that a double digit drop has happened. BTC dropped from 6700$ to under $5900, before closing on the day to just above $6000. The mere fact it ended above $6000 was a feat for bulls.
Let’s talk about the drop in BTC. What that means for Altcoins, our real money makers. Altcoins are ICO’s, Airdrops and coins that aren’t Bitcoin. With the market constantly dropping, the highly correlated Altcoins so too drop. This gives bitcoin a higher market dominance that is currently at above 40% – especially considering less than 1 month ago it was below 35%.
Moreover, Altcoins have retraced close to 80 per cent since the start of the year (January 17). There has been small Altcoin bullish seasons, but not the real juice. Nouvive has two recommendation when it comes to Buying Altcoins: invest in the swing trades and catch the dip for excellent long term hold coins. These are the coins that will stay around. The ones that heavily invest in the Blockchain – coins like EOS maybe excellent swing trades – but you have to call a spade, a space and understand it isn’t excellent Blockchain technology and will one day be wiped out as a coin altogether.
Nouvive: Home of Crypto Beginners, Traders & Investors. Nouvive provides Cryptocurrency trading news, Analysis and indicators for beginners, traders and investors.
Information on these pages contain speculative statements that involves risks and uncertainties. Crypto-Assets profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell. Nouvive does not in any way guarantee that this information is free from mistakes, errors or material misstatements. It does also not guarantee that this information is of a timely nature. Crypto-Assets involve risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing or trading are your responsibility alone. For more information, please view the Risk Warning Below.