Ride’m Cowboy
I’m not sure about you, but the crypto coaster is quite the ride. Some of us are here and have shown up a bit late. Now we are having to pay dearly with the rest of the world cowering over China. Gettin’ old China. Decide what you want to do, so the rest of us can get back to our regularly scheduled programming.
What do we see?
I am watching three coins: Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC). Those three coins all move in the same way each and every day. They are nearly mirror images of each other. They are great for day traders. The up and down happens on a 10 to 30 minute schedule, just depending on the day. Get in low. Put in a sell order. Wait. Collect your money.
Long Term Pause
The long term investors are having a tough ride. It’s like standing on a little chunk of ice floating into the warm confines of the ocean. You feel like you are in a good place, but something about the chunk of ice makes it seem like it is shrinking.
Now what?
You have two options here. Day trade and make your change. That seems to be valid. The other option is to hold, but turn off your computer. The roller coaster ride is hard to watch.
Last Words
How long before China gets their act together? The people there seemingly want in this market. The government sees that it loses control. Lost control is hard to take. So we wait.
