Community post
CryptoWatch #1 - How far will Bitcoin drop?!?!
https://www.youtube.com/watch?v=I1oteF2LKd8
Here is my cryptocurrency watch for June 6th, 2017. The video has more in-depth explanations, but here is the short synopsis.
Bitcoin
Based on it's past performance, Bitcoin's last dip was around -30%. Which would coincide with the support line at $2118. I don't think it will dip this low, so the best buy point is the first support line.
Ethereum
Ethereum's last dip was around -40%, which is our lowest support line, but I doubt it'll dip that low. Our buy point is around the other support line at $324.
Golem
This has been trading at around the same area for a while, and currently looks like a good buy. This has potential to break out from here.
Siacoin
I would hold off on buying this until it decides to turn around from its decline.
Steem
This one, like Golem, seems to be at a pretty strong support level.
If you have any questions or suggestions for crypto currencies you would like me to look at just leave a comment.
Replies (11)
Pretty nice explanations, for a begginer like me! Nice job!
As a guy with not a big balance, should i invest in Steem and Golem rather then the expensive coins?
Fascinating! Steem leveled out while bitcoin and Eth are dropping like rocks! I believe this bodes extremely well for Steem and other competing currencies. @ironshield
I'm looking for bottom from the 15th to the 18th in which I will be buying.
I know and they've fallen even further since I posted this!
Well it's not like stocks where if you wanted some you would have to buy 1 whole stock. You can buy fractions of them. Ideally I'd diversify your portfolio. Personally I have like 50% in ethereum, 30% bitcoin, and the rest are other altcoins like steem, golem, and Siacoin .
Buy whichever one you think will go up the most percentage points.
Bitcoin and ethereum are taking a hit at the moment possible time to purchase soon maybe
Yep, especially if it hits those lower buy points I mentioned in the video.
Good insights
Thanks! :)
thanks for the charts and for compiling all of this! keep steeming!