We have lost another 3% from last week, here are the numbers:
Starting balance = 48.115 $ / Balance today = 34.529
L: -13.856 $ (-28,24%)
No big news this week. Some kind of regulation in Europe of crypto and ICOs is expected, which may mean mass adoption, however EU is a home of byrocrasy and big countries rarely can agree on anything. Until Euro is stable and Crypto doesn't represent a significant threat, the restrictions or even bans are not really expected.
Goldman Sanch doesn't share the opinion with Dimon. Difficult to say if their plans of entering into Crypto are really truth or just speculation for rising prices, however if they don't enter now, they will have to enter later with higher prices. I doubt they are not aware of this. Is this good or bad for Crypto, of course big money from WS will increase centralisation and manipulation of market, however in long run the market will become bigger and more robust, the mass adoption will not happen without big players from WS, whether we like them or not.
ICONOMI Is finally moving, getting on board DAA managers, seems that platform will start to service it purpose. After a spike in last week we have some correction already but overall trend is positive. ICO seems to be a good long tern investment. And for my Slovene friends, we can be little proud of it also, since it is "our" product.
BTC stays strong, 4600$ is another resistance level that will have to be broken, then we can go up to ATHs again. If we don't brake up we'll probably just maintain this position until gold HF. I dont expect big drops in price.
LTC If we brake up 56-57€ we can go for ATH, our support is around 50-49$, going under this line we will probably have another support at 45$ or even lower 37$, which would be a great entry point if we go down, If we go up an entry point could be if we break 56$ and it confirms as a support.
ETC Our major support seems to be around 10$, going under that line we will probably find support at 7,7$ if that happens and confirms as a support we could consider it as an good entry point, however going up we need to break out of 13-14$ resistance line. It would represent another good entry point if it confirms as a support.
NAV is in the downtrend, with many lowers highs, we are approaching the major support channel between 0.49-0.50$. If we hit that lows and confirm it as a support we could consider it as a good entry point. For a swing trade already going under 0.55$ could be a good position to enter, although with these lower highs, I would probably wait to go lower like said before to a major support zone or to wait for at least 2 confirmations at the higher levels.
Disclaimer: this post is not an investing or trading advice, you are fully responsible for your own funds and investments.
And finally some words about Steemit. In last post I was critical about the concept of Steemit. To clear some things - IMO like said there this concept will have to get some fundamental changes, otherwise has no chance to become, like they say a second FB. That said, doesn't mean that there is no potential in the platform. Steemians have different expectations and interests related to the platform they use. For whales it is good, if SP decides about everything, which is the case now, for the masses and mass adoption of Steemit that is not so good, cos with some time the interest to participate will stop. And it will stop when people will realise that there is no chance to be rewarded fair based on the work you invest, because there is simply not enough money in the pool, not even enough for whales. Which is also happening already with daily dropping rewards. It is also truth that some people are smart enough to make money here even without big investment, but that is not my point. The point is that being able to pay someone for something are only whales, and their only income or fresh money that is coming into the platform is from fresh users that are coming here cos they think they will be able to earn. This enthusiasm will slowly die, if the platform will not find the better way distributing of rewards. The only power in Steemit is Steempower and that needs to be changed if you want to keep Steemit long term sustainable.
Feel free to comment below.
I am @twister and I always have an opinion and you will hear it no matter what or who you are :) and no matter if you like it or not!
Wish you all a good week
[1st. pic source - bitcoinhub.co.za]