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We Like Bitcoin and Ether to Trade Firm into December 2018

While a long list of digital coins have lost 70 percent of their value in the past 9 months, some coins are starting to discover a price bottom and recover  just as we approach the final months of 2018. And although most coins do trade higher and lower together, sometimes in lock step, recently there are some that show individual personalities – again, this is clearly a sign of a maturing market. So the summer of mass crypto-pain is now turning into a market that smart and very selective traders will be able to pick and choose winners. 

Cryptocurrencies therefore are now trading as individual currencies – in some cases – and this means true professionals will prosper. 

On September 11, we focused on Bitcoin while looking at a short list of 6 technical and fundamental factors that pointed to a market rally only after Bitcoin traded to and tested that support range of $6,000 to $6,200. Bitcoin looks positive, and we of course, like its leadership.

Although we do not give trading advice, we do see Ether, now that some of the massive longs have left this coin under stress (in a prolonged sell-off), as a coin that looks to be bottoming out and poised to rally. Those who are damaged and underweight this coin are growing in numbers. This coin could follow Bitcoin higher into the end of 2018. Despite suffering a 50 percent fall in the past 3-months and lagging its peers, Ether is possibly the most attractive cryptocurrency in the market. This platform is seeing real life uses but they are taking time to get traction.

We are not making a case only on oversold technical factors, and there are many, but we see that the the alternatives such as EOS are not fully mainstream, and are not the competitors we once thought. Unlike Bitcoin which gives one access to a financial network, Ether gives you access to a computer network. We think the Ether downtrend has broken and a reversal has already started.

Ether traded at $1,100 in January and this week had fallen to $220, so as mentioned, the current levels are becoming very attractive. We like both Ether and Bitcoin until December 2018 and possibly beyond.







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Disclaimer: We do not provide investment advice or strategies, this article is not intended as such but only to provide you the reader with information. Please conduct your own research before any investment of any kind.

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