Ethereum Buy Signal
The ETH Roc generated a buy signal in mid-December 2024.
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Bitcoin
Bitcoin ROC Buy Signal
Our Bitcoin ROC has generated a “BUY Signal” in early November. BTC has since rocketed to the psychological resistance level of $100,000 where it is consolidating in preparation for another leg up.
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Bitcoin Breaks Out
From March 2024 Bitcoin was in a downward slanted channel. Typically when this occurs a breakout can be expected to travel in the same direction as it entered. So, since it entered the channel in the upward direction we can expect a breakout to the upside.
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What Makes MicroStrategy Special
Just a few short years ago MicroStrategy (MSTR) was a run-of-the-mill software company. At that point, founder and CEO Michael Saylor realized that unless something changed, the company would remain a slowly dying cash cow. They had lots of companies paying them licensing fees for their software but eventually through attrition that would come to
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Crypto: Crash or Opportunity?
Everyone knows that the Crypto market is volatile. And we got another dose of that on the 4th of July. But rather than fireworks, Crypto markets crashed. The year 2024, started out very bullish for Crypto, with Bitcoin (BTC) up sharply… partly due to BTC getting approval for ETFs and partly due to the expected halving which would cut supply. But so far this year, the truism “Buy the rumor, Sell the news” has held for the Bitcoin halving.
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Crypto Goes Mainstream
A lot is happening in the cryptoscape both from a regulatory and an innovation standpoint. Crypto has the potential to revolutionize the world as much as the Industrial Revolution, transistors, computers, or the internet did. And it is still in its infancy. But it is still possible for regulations to try to strangle the infant in its crib. But if that happens in one country, the innovation will simply move somewhere where it is appreciated. This could be devastating for the economy of any country that gets this wrong and tries to stifle innovation.
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Applying the ROC to Crypto
Our ROC system is very good at spotting major turning points in the market. So this month we adapted it to look at Bitcoin and Ethereum. While doing this we changed the look of how we do ROC, so we will be adapting the regular ROC charts to the new style as well. The advantage of this new look is that you can see the underlying index at the same time, so you can see exactly where the various signals kicked in and how it evolved from there. Also, I think the new look is much cleaner and less cluttered.
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The Modern Day Wild West: Crypto Scams And Opportunities
We’ve all heard that the Crypto landscape is much like the “Wild West” with very little regulation. But along with risk comes opportunity. One of the reasons the “Wild West” was so wild was because “Boom towns” would spring up in the middle of nowhere due to the discovery of gold nearby. The gold would attract not only hard-working prospectors and pioneers, but also promoters, grifters, and outright crooks. Sometimes a “Lawman” such as Wyatt Earp would show up and try to enact some sort of system of Law and Order.
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Crypto 2.0, A Whole New Ballgame
It turns out that Crypto is much more than just Bitcoin. In October 2008, when a person (or anonymous group) named Satoshi Nakamoto created the code for Bitcoin it opened the door to more than just a currency. It introduced the concept of a “Blockchain” to the world. Since then there have been literally thousands of Cryptos created, most of which ended up totally worthless. Some were simply jumping on the Blockchain bandwagon, just as companies added “.com” to their name back in the Dot com mania of the 1990s, people began creating mostly worthless cryptos in the 2010s. But not all the cryptos were worthless. Some were new currencies but others were new and innovative ways to use blockchain.
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Non-Fungible Tokens (NFTs): Another Financial “Fumble”
Over the years, we’ve discussed various iterations of the “blockchain” and some of the possibilities it has for finance, industry, and even gaming. We looked at What are NFTs and Why are They Going Crazy?, How Blockchain’s Unique Innovations Can Prevent Money Remittance Scams, How Is Technology Affecting Global Trading Markets, and Metaverse vs. Multiverse- What are They? And Where are They Leading? Over at InflationData, we covered Cryptocurrencies and Inflation, and Can Crypto Solve Venezuela’s Hyperinflation Problem?, which we followed up with How has Venezuela’s Bitcoin experiment Fared? So we’ve looked at Crypto quite a bit. Today we are going to take another look at NFTs, which looked a lot like a crazy bubble right from the start.
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