Marijuana…There’s An ETF For That

Although the marijuana
industry has seen many ups and downs, with volatility resembling the crypto
space, just like the crypto space, it’s representing investors, particular
young investor with an opportunity to create generational wealth.

Cannabis industry
cheerleader Cowen Group, which has arguably been covering pot stocks longer
than any Wall Street investment firm, believes that the industry could hit $75
billion in global sales by 2030, which would represent a more than sixfold
increase in global sales from 2018, according to data from Arcview Market
Research and BDS Analytics.

Meanwhile, Christopher Carey at Bank of America believes that the cannabis industry has the potential to one day hit $166 billion in annual sales.

Source

But just like the crypto space, there will be many losers.  Thus, Electronic Traded Funds (ETFs) give exposure to a group of stocks, thus lowering the investment risk through diversification.  And in the marijuana space, there are three that come to mind:

ETFMG Alternative Harvest ETF (NYSEArca:MJ) is the largest fund to cover the sector.  MJ tracks the Prime Alternative Harvest Index, which tracks the entire cannabis ecosystem across both medicinal and recreational uses. MJ tracks 36 stocks with leaders like GW Pharmaceuticals (NASDAQ:GWPH) and Canopy Growth (NYSE:CGC) as top holdings.

AdvisorShares Pure Cannabis ETF (NYSEARCA:YOLO) takes on a more active approach as it’s run by portfolio manager Dan Ahrens. YOLO currently owns just 26 different marijuana stocks, including Innovative Industrial Properties (NASDAQ:IIPR), CannTrust Holdings (NASDAQ:CTST) and OrganiGram Holdings (NYSE:OGI).

Despite it being the sin ETF, probably the safest of the bunch is the AdvisorShares Vice ETF (NYSEARCA:ACT)  because it invest in alcohol, gambling, tobacco as well as cannabis.   The ETF only has 26% exposure to pot stocks.

This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.

Bitcoin Drop Below $10,000! Where’s the Bottom?

Bitcoin has officially created new local lows. We’ve been talking about a $9,400 target for quite some time. Today, price nearly hit that target, dropping as low as $9,420.

Screen Shot 2019-07-16 at 12.31.01 PM.png

Looking at the daily chart, we can see that yesterday price decisively broke (daily open and close) the all important 21 day EMA. For those that watch my videos, you know this was your sell signal. Price has now broken below the 50 MA.

Screen Shot 2019-07-16 at 12.30.34 PM.png

Today’s video was created just as price broke below $10,000. You’ll be able to watch my response as it happened in real time. We’ll also discuss where price may be heading next, key areas to watch and so much more. I hope you find it helpful.

Video Analysis:

If you don’t see the above video, navigate to TIMM (https://mentormarket.io/profile/?workin2005/) or Steemit in order to watch.

I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading.

Workin

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BITCOIN: Still having doubts about the count?

well…. I confess I had a moment of “panic” yessterday when I saw BITCOIN rising up a little but the doubt was obviously temporary because what we see now is a perfect “fit” of BITCOIN and my proposed EW Count.

You can read the calls I did here (3 days ago) , here (4 days ago) and here (almost a week ago)…

The formation is clear, 3-3-5 Flat correction.

There are at least two possibilities:

  • BTC has touched support already at 9400 USD
  • BTC will touch support at least at 8800 USD which is the projected target of the HS pattern

One of my buying orders have been filled already at 9400 USD… the second is waiting for a further oversold condition at the RSI indicator.

Just one comment more…I think the correction is done but, as usual, no one can be 100% sure… so, do your own research and proper assessment before taking any decision but… in my opinion we are going UP soon!!!!!

Enjoy!

@toofasteddie


Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently. Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.


Dolphins Like Cryptocurrencies Too

This upcoming football season will be the Miami Dolphins’50th season in the National Football League.  Last season the Dolphins finish with a winning record for the first time since 2016.  Recently, the Miami Dolphins made moves to win off the field as well by teaming up with the Litecoin Foundation, making Litecoin the “Official Cryptocurrency of the Miami Dolphins.”

Launching for the 2019 NFL season, the collaboration with the Miami Dolphins gives Litecoin the ability to tap into one of the NFL’s largest and most passionate fan bases through in-game branding and advertising opportunities at Hard Rock Stadium, as well as inclusion across the team’s various online properties and digital content.

Through the partnership, the Miami Dolphins, Litecoin and Aliant Payments intend to give home game attendees the ability to pay with Litecoin and Bitcoin when purchasing tickets for the team’s 50/50 raffle, where half of the proceeds benefit the Miami Dolphins Foundation and its charitable causes. The 50/50 raffle tickets can be purchased both online and at 14 kiosk and raffle seller locations throughout Hard Rock Stadium.

Source

Keeping up with the Joneses applies in the business world as well.  However, in the business world, it’s not about social class, but just remaining competitive.  The Dolphins might be the first, but won’t be the last as other teams will copy the business model to give fans and customers what they want to maintain engagement, which in turn will lead to profits.

As price pulls back almost 50%, the chart suggest to go long at Litecoin at the daily demand at $75.

This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.

Summer 2019 update – and Liberland in New York!

We’re excited to share Liberland updates for the summer with you! President Vít Jedlička has arrived in the U.S. for a four-day visit to New York City to further relations with UN member states and for special media interviews. He has also been invited to be the keynote speaker at the TNC coin opening event.If you are able to attend we would like to invite you to meet our UN representative and top diplomats in Manhattan on Wednesday evening, July 17. Please RSVP here and we will provide the location and time.In New York, we will also be welcoming our appointees for Liberland’s new Washington D.C. office as well as the directors of the Liberland Aid Foundation. Liberland’s voluntary humanitarian assistance program has just received its non-profit status from the IRS and has already begun its educational and humanitarian work and welcomes your support.This week is also the famous Freedom Fest in Las Vegas where Liberland will be represented by Adam J. Carswell, host of the Liberland Show. Please stop by and say hello to Adam if you are going. He’ll be attending thanks to the support of concordiarealty.com a leading real estate company in the U.S. that combines sound economics with solid experience in real estate.We’d also like to invite you to our Floating Man summer festival on 15th to 18th August, which will take place as we open the brand new Liberland Airport in Serbia close to the city of Sombor. Over four days you can take part in fun activities and entertainment, including various DJs and musicians from the area, including the composer of Liberland Anthem. This will be a great chance to see Liberland from the skies with the help of the first Liberland flight school. Floating Man attendees will visit Liberland by river with both the Liberland fleet as well as in small boats. You can also visit the Liberland free trade zone and harbor in the city of Apatin as well as the spot dedicated for Floating Liberland (Liberland-on-the-Water).Stay tuned for more details and travel information for this amazing summer event and more!

I’m Not Feeling Williams-Sonoma On Goldman Sachs Retail Buy List

Retail stocks have been a tough trade in 2019. While the S&P 500 is up nearly 20% year-to-date, the SPDR S&P Retail ETF (NYSEARCA:XRT) is up just 3%, as retail stocks have been weighed by sluggish consumer spending in early 2019 and overarching trade conflicts.

But, Goldman Sachs thinks things are about to get a whole lot better for a whole lot of retail stocks.

One of their picks that I
disagree with is Williams-Sonoma, based on the where the housing market is
headed. Recently, sales of new and existing homes dropped below 6 million for the
first in two years.  And despite rates going
down, mortgage applications are flat. 
However, Goldman Sachs believes the following:

Tariff concerns have been a huge headache for Williams-Sonoma (NYSE:WSM), but Goldman thinks that the kitchenware and home furnishings retailer is ready to bounce back. Trade tensions are cooling, and with a truce on new tariffs between the two countries, it seems the worst of the trade war damage has already been inflicted. Going forward, the numbers here should get better, especially as buying conditions in the U.S. improve, too. This improvement should drive a nice rebound in WSM stock.

Source

I personally think Williams-Sonoma is setting up for a great short. However, this is the type of catalyst that will get price there sooner than later. Thus, the chart suggest to short price at the weekly demand at

This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.

Bitcoin – 16 July

 

I’ve been away for a few days on an impromptu little vacation, hope you didn’t miss me too much!

I probably chose a good time; markets have been pretty dead, and all people want to seem to talk about is Trump vs BTC. Perhaps I’ll deal with that topic myself (because there are some things which need to be said), but I’ll leave that for another day.

I tried not to check BTC prices while I was away – a task in which I failed miserably. The typical poor reception at our holiday spot was unusually good, so like it or not, I kept an eye on Bitcoin. While away, I noticed a new pattern emerging, which is what this post is about:

First things first: I have re-calibrated my Fib levels to take the latest dip into account. That’s not strictly relevant to this post, but you will see those coloured Fib levels on some of the charts.

Most noticeable on the chart below is the possible converging triangle formed after the latest price dip to $10000. The triangle is neither inherently bullish nor bearish in construction, so that leaves BTC with options of either climbing or dropping in price; we’ll get to that a little later in this post. I say possible triangle because I’m not too sure if this is a triangle or perhaps just a something which will soon become truncated into a pennant.

 

As seen below, I believe that there is a possibility that this is a bull pennant. If that is the case, then we can expect BTC to either carry on climbing now, or perhaps about two weeks into the future (which is the rough time gap between successive high points in the current pattern. It could even remain trapped within the pennant for multiple additional bounces, in which case it would only break out about a month from now. By that stage the pennant would have become a triangle anyway, and the break would probably be positive due to the continued high volume of the market and the fact that decreasing volatility (as the triangle narrows) would inspire confidence in more timid investors.

 

On the other hand we could be looking at a downwards break. I’ve seen this pattern before: in mid-2017. During the first few months of the now famous bullish climb to $20000, Bitcoin went through a few of these calm periods where it consolidated and retraced before continuing its climb. We look to be in a similar position to what happened in the circled area below (in June 2017). Back then it was followed by a steep dip and then a rapid recovery and climb.

 

Zooming out you can see what happened after that. Also take note that even during the worst times of the 2018 bear market capitulation, the start-of-climb prices were never reached. The very bottom of the 2018 bear market stayed above that highest point of the June 2017 consolidation. Potentially this implies that the next major bear market may bottom above the levels we have been seeing lately (about $14000), though we could still have several similar consolidation periods and this particular one may be nothing special.

 

Whether we are looking at a converging triangle, a bull pennant, or some sort of repetition of the 2017 climb; the future of Bitcoin looks very bright. Fundamentally speaking, while there is a lot of talk about it, it appears that institutional investment hardly features in the cryptocurrency market yet, it still seems to be retail investors driving up the price. That means that Bitcoin has still got virtually unlimited growth capacity for at least next couple of years. I still believe we are only at the start of what should be a record-breaking bull run.

 

If BTC is to mimic the 2017 dip-and-climb, then it should find support in the $8800 – $7700 region (as indicated below). I’m basing that on the the 2017 event again: it found support at its previous brief consolidation level – which was not as well defined at the $8800 – $7700 consolidation support level that we have this time.

 

That’s all for now. Keep an eye on that triangle/flag as it narrows: things should get interesting towards the end of the month.

Yours in crypto

Bit Brain

All charts made by Bit Brain using TradingView

“The secret to success: find out where people are going and get there first” 

~ Mark Twain

“Crypto does not require institutional investment to succeed; institutions require crypto investments to remain successful” 

~ Bit Brain

Bit Brain recommends:

Crypto Exchanges:





Writing is hard, writing consistently is hardest.

Every few months, or years… I try and get into the habit of writing. Mostly I try document stuff I have done and find interesting and I stay away from opinion pieces, mostly because they can be such tripe.

My latest attempt has been to write 2 posts a week, only on the Steem blockchain, but to do that consistently. I have already failed.

Most people consume, I believe, because it’s easy. Twitter and a Facebook feed is addictive because it’s such low effort and you get your little dopamine hits. People scroll that stuff for hours.

Writing on the other hand taxes you much more, especially if you try write more than a few words, if you try an add value. It’s possible to do this in short spurts, a post/article here and there.
Doing so consistently is even more taxing, it’s awfully easy to let things go and fall back to consumption mode, no-one reads your stuff anyway, or so it feels.

I had hoped to write something on what I did this weekend, basically a lot of work for little to no gain. But it feels too much effort and I have other things which feel much more pressing. My mother in-law is set to move in with us in a few weeks time. We have a separate space almost like an apartment under our house where she can live with autonomy, but close to her grandchildren and with us close in case she needs help.
Before she moves in we want to break out a fireplace in the kitchen, so that the space is freed up. Right now it’s really just in the way and theres no way she will be using it to cook, so it has to go.
Instead of doing that, though, I have been spending time, trying to get our water pressure upstairs right, so our hot water lasts more than 2 minutes. I have reached the point where I can do nothing more, save buying a pump to boost the water pressure.

All that time spent on water, means I have fewer weekends to break out a fireplace, render the walls, clean and finally paint. All before the impending move. Alot of the pressure is self-imposed but it causes me to weigh up costs and benefits to what I am doing in an extreme fashion. I forego ‘fun’ stuff and work more, hoping to dig myself out of a hole.

Writing kind of falls into those ‘fun’ or ‘leisure’ activities, things that don’t improve the house or our situation, so it falls by the wayside.

Hence you have this, an opinion piece, of sorts, maybe more of a braindump? But at least I made something instead of using some of my ‘idle’ time consuming snippets of others’ lives (more like presentations of snippets of their lives – social media is so full of people pretending…

Free photo 102879088 © PublicdomainphotosDreamstime.com

Crypto Contest July 16: PTON

PTON (Bittrex: PTONBTC) has broken out of the triangle pattern in the four-hour chart.

(Chart courtesy of Tradingview.com (log scale))

Elliott Wave Analysis

In Elliott Wave terms, PTON began a wave one advance on June 29. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on July 7, and the red wave two (blue sub-waves a-b-c) correction ended on July 15. If this wave count is correct, PTON should be heading next towards the July 7 peak in the red wave three.

(Chart courtesy of Tradingview.com (log scale))

Funnymentals

Foresting is a social media platform that rewards content creators for their time and creativity by using blockchain technology. PTON is the cryptocurrency that will be used as a reward on the Foresting platform. You can watch their intro video below.

(Sources: Foresting and YouTube)

How can I vote? Where is the contest?

You can vote by following this link.

? Daily Crypto News, July, 16th?

  • What to Expect When Congress Grills Facebook on Cryptocurrency ;
  • Bitcoin’s Price Could Rise If Facebook’s Crypto Survives Congress Hearings ;
  • US Treasury Secretary Shares Trump’s Concerns on Crypto, Stresses Compliance ;
  • Polkadot Tokens Valued at $75 Pre-Launch in Crypto ‘Futures’ Offering ;
  • Ron Paul: ‘I’m All for Cryptocurrencies, I Like Competing Currencies’ ;
  • ? Daily Crypto Calendar, July, 16th?
  • STEEM Trading Update

Welcome to the Daily Crypto News: A complete Press Review, Coin Calendar and Trading Analysis. Enjoy!

? What to Expect When Congress Grills Facebook on Cryptocurrency

The Takeaway


Congressional hearings on Facebook’s Libra project are likely to focus more on the company’s privacy failings than on unresolved policy questions for cryptocurrency.


Lawmakers will probably also grill Facebook blockchain lead David Marcus on the company’s choice of Switzerland as the home for the Libra Association.


Though Facebook intends to launch Libra next year, regulatory and congressional scrutiny may throw that timeline into jeopardy.

? Bitcoin’s Price Could Rise If Facebook’s Crypto Survives Congress Hearings

Bitcoin has come under pressure ahead of the U.S. governmental hearings on Facebook’s Libra cryptocurrency on July 16 and 17.


The price of a single bitcoin, which stood near $13,000 five days ago, fell below $10,000 earlier today and tested the 50-day moving average at $9,900 for the first time since February 18.


Facebook’s head of Calibra – one of the entities set up to govern and develop the crypto project – David Marcus is scheduled testify to lawmakers on the Senate Banking Committee on Tuesday and the House Financial Services Committee on Wednesday.

? US Treasury Secretary Shares Trump’s Concerns on Crypto, Stresses Compliance

United States Treasury Secretary Steven Mnuchin shares President Donald Trump’s concerns on the use of cryptocurrency to finance illicit activity, and stresses the role of enforcing FinCEN regulations with respect to crypto-dealing organizations. Mnuchin made his remarks at a press conference on July 15.


Mnuchin called the use of cryptocurrencies to fund illicit activity a national security issue, saying that billions of dollars have been used for this purpose:


“Cryptocurrencies such as Bitcoin have been exploited to support billions of dollars of illicit activity, like cybercrime, tax evasion, extortion, randomware, illicit drugs, human trafficking … This is indeed a national security issue.”

? Polkadot Tokens Valued at $75 Pre-Launch in Crypto ‘Futures’ Offering

Say hello to the IFO.


The cryptocurrency futures exchange CoinFLEX, backed by Polychain Capital and investor Roger Ver, will launch its first initial futures offering (IFO) this week.


“This is the first time we’ve made a futures market for a coin that doesn’t actually exist yet,” CoinFLEX CEO Mark Lamb told CoinDesk. “It’s a determiner of the price before the asset exists.”


Notably, Polkadot’s DOT will be CoinFLEX’s flagship IFO.


Stepping back, CoinFLEX launched in April with four futures contracts including bitcoin and ether. The platform then launched its own exchange token called FLEX earlier this month.


The Polkadot IFO on Wednesday will be the first sale that requires participants to buy the exchange’s native token. Modeled after the Binance initial exchange offering model, up to 300 FLEX token holders will have access to “discount” contracts priced at $75 per DOT.

? Ron Paul: ‘I’m All for Cryptocurrencies, I Like Competing Currencies’

Former Republican congressman and presidential candidate Ron Paul says he is in favor of cryptocurrencies and blockchain technology because he likes competing currencies. Ron Paul delivered his remarks in a “Squawk Alley” interview on CNBC on July 15.


According to Paul, cryptocurrencies are a great idea, and governments should only step in to regulate the space to prevent fraud:


“… I’m for the least amount of regulation. I don’t know what’s gonna happen to cryptocurrencies. I think it’s a great idea. And I only have one rule: no fraud … I think that the government has a role. And [if] somebody has a case that there is fraud, I think it should be investigated …  What I want to do is legalize the freedom of choice, absent blatant fraud.”

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? Daily Crypto Calendar, July, 16th?

The new EQL BEP-2 total supply will be 665,059,059.35937 EQL.

“Particl is hardforking on the 16th of July at 12:00:00 UTC to move its RingCT and Bulletproofs #privacy protocols on mainnet!”

“Enjoy 50% APR for 1 day. The snapshot will be taken at 9:00am, July 16(PDT) sharp.”

“Join us this coming Tuesday in the Ethos Telegram Channel for a Community AMA. We’ll be collecting questions for Shingo & Capone to answer”

ABBC launches Buyaladdin, their online shopping platform, at the Rockefeller Center in NYC.

image.png

STEEM Trading Update by my friend @cryptopassion

Here is the chart of yesterday :

STEEMUSD.jpg

Here is the current chart :

STEEMUSD.jpg

We are currently consolidating just upper the major resistance line at 0.24$ while the BTC is having a very nice bounce. It is becoming hard for all the altcoins and STEEM is not better than other and is sometimes even worst. What to say, we have to wait for better days, the market doesn’t really care currently for the altcoin market and I really don’t know how many time it will last like that. Courage and perhaps focus on the BTC if you want do short term trades.

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Last Updates

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