As I have mentioned before, I don't look into the whole crypto world too much. Maybe it's good, because I am focusing on the real currencies. Or maybe it's bad, because as some say "It's the new thing". I don't know.
I like the whole idea behind the cryptocurrencies and I think that something could work out from it in the future. But at the moment, it's just proving me once again, that we - humans - are dumb as fudge. We have a super power of creating value, where there is no value. Blockchain idea is interesting, but we already managed to screw it up by creating too much hype around it. In a bad way. This, what's happening right now with hyper prices, this is just showing how easy it is to create a financial bubble. Just like the DotCom bubble. Certainly, website business has become one of the main drivers of the global economy, but we had to blow up the market first in order to learn how this business should be done. But that's our nature. The same story is happening now with cryptos. We will blow it up first and only after we will make something good out of it.
In terms of Ripple, I think this one is getting ready for a pop. And I would like to see it go to the upside. I am very curious what's going to be its top level.
So if we just apply the simple technical analysis on this, once we get a break from this triangle, I think we will be able to jump on and ride it.
At the moment I am looking for the 0.26500 level. That's an approximate level,b because that' going to be somewhere around the upper side of the triangle. If we will manage to get a good strong close above it, then I will be looking for a re-test of the 0.29800 (2017 August high). If that's not going to be enough for it, then aiming for 0.39887 (2017 May high).
Because this is still a very young currency, I think it has got a lot of time, before it will reach crazy ridiculous levels like Bitcoin. Or who knows, maybe this one will actually be the "serious" and "moderate" crypto, that will show how it needs to be traded, without crazy and ridiculous levels. Maybe it will become the "Stability Crypto". Something like Gold.
Of course, it's all speculation. Let's not rush, live our lives and see what happens.
Keep an eye on the price action!
I like the whole idea behind the cryptocurrencies and I think that something could work out from it in the future. But at the moment, it's just proving me once again, that we - humans - are dumb as fudge. We have a super power of creating value, where there is no value. Blockchain idea is interesting, but we already managed to screw it up by creating too much hype around it. In a bad way. This, what's happening right now with hyper prices, this is just showing how easy it is to create a financial bubble. Just like the DotCom bubble. Certainly, website business has become one of the main drivers of the global economy, but we had to blow up the market first in order to learn how this business should be done. But that's our nature. The same story is happening now with cryptos. We will blow it up first and only after we will make something good out of it.
In terms of Ripple, I think this one is getting ready for a pop. And I would like to see it go to the upside. I am very curious what's going to be its top level.
So if we just apply the simple technical analysis on this, once we get a break from this triangle, I think we will be able to jump on and ride it.
At the moment I am looking for the 0.26500 level. That's an approximate level,b because that' going to be somewhere around the upper side of the triangle. If we will manage to get a good strong close above it, then I will be looking for a re-test of the 0.29800 (2017 August high). If that's not going to be enough for it, then aiming for 0.39887 (2017 May high).
Because this is still a very young currency, I think it has got a lot of time, before it will reach crazy ridiculous levels like Bitcoin. Or who knows, maybe this one will actually be the "serious" and "moderate" crypto, that will show how it needs to be traded, without crazy and ridiculous levels. Maybe it will become the "Stability Crypto". Something like Gold.
Of course, it's all speculation. Let's not rush, live our lives and see what happens.
Keep an eye on the price action!