Good morning my Steemian friends.
Today I'd like to pose a question to some followers here. Why have we not seen a move in some other cryptos in sympathy with the massive move in Bitcoin of late? See several charts below, one the latest on Steem the other, Ethereum.
We are aware that a lot of the BTC move has been news related and isn't that often attributed to all market moves..."news" (real or fake). Of course few understand or pay atention to SENTIMENT as we like to, but LOOK AT STEEM! It has quietly put on a similar 40 % move in the same timeframe: the very end of June. I like the chart!!
Ethereum and Ripple have done nothing whatever and I'm reading some negative issues currently affecting the trading of both. By the way, the sentiment on these two is very, very negative but I'm sure the sampling is small.
BITCOIN as mentioned yesterday (8200 currently) is up against a ton of resistance here. While it may trudge a bit higher short term it will consolidate. HOLD at present.
GOLD! please see the chart below, compliments of SENTIMENT-TRADER and KWN.
I'd like to see the "optimism index" a little more negative. Gold is rallying currently and it probably fails, comes down again (Rosen's 1140?) and the stage is set for a massive move upward to 1400 or more and FAST; see late 2015. I'm holding to that and it begins in Sept. I guess we'll find out soon enough.
I always welcome your commentary and it much respected I might add.....
Your support is appreciated as well.....thanks.