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A(nother) word on Bitcoin ETFs

January 25, 2019 Published by

The market is definitely maturing its way out of FUD – an excellent sign for upcoming growth!

I don’t always get the short-term calls right, but man am I good at the long-term ones – the ones which are really important to investors!

The last two Bitcoin ETF applications were withdrawn this week (by CBOE and SolidX) due to the US government shutdown (allegedly). What happened to Bitcoin when they withdrew?

Nothing.

This is in stark contrast to the immature and frankly rather clueless 2018 market.

Do you remember the effect that any ETF news had on BTC in 2018? Any statement from the SEC,

BTC 24 Jan – a change of direction

January 24, 2019 Published by

As I promised in my post of 22 Jan “Once I have better information I will publish an update in this regard (if necessary). “I have better information. You’re reading that update.

You can see my previous BTC post here: BTC 22 Jan – Medium-term updateIn it I proposed two possible scenarios: A drop to lower price levels or a modification to the tapering triangle we were in, resulting in a later price breakout.

In that post the price had just dropped through the bottom of the previous triangle, but not definitively so. For further details on those scenarios, see

Crypto Shopping Cart – 23 Jan

January 23, 2019 Published by

It has not been long since my last crypto shopping trip, but with such cheap prices persisting, I’m still taking any opportunity to add a little to my altcoin holdings.

I keep saying that people should be buying altcoins, and to show that I put my money where my mouth is, I’ll show you what I’ve just bought. You’ll also be able to see if I follow my own buying recommendations or not! Quite a few coins in this post were mentioned in the post Crypto market signals stability on 20 Jan.

From www.pexels.com

Funding the buys

This was a bitter-sweet round of buying if ever there was one! Still having

BTC 22 Jan – Medium-term update

January 22, 2019 Published by

BTC broke out of my previous converging triangle. What does that mean?
In my post of 15 Jan, I published a converging triangle and spoke of an impeding breakout. This was the main image I used in that post and its follow-up post on 18 Jan:
After entering the “Breakout Zone” BTC broke out in a downwards direction. This presents a small problem because the breakout wasn’t definitive: yes it left the triangle, but not by much (as seen below).    
I now see two possible scenarios:
 
Scenario 1: Lower BTC prices
BTC may drop lower yet again – probably to one of

Crypto market signals stability

January 20, 2019 Published by

Whereas investor confidence was wavering and unpredictable during the 2018 bear market, 2019 is showing us a stable market which has so far supported sustainable growth.

From a bullish perspective this is a positive sign – and one which is hardly surprising. For the past year I have been attacking bearish sentiment on all fronts: the inane mentality that sells a long-term hold for short-term profit (akin to selling Microsoft shares in the early ’80s), negative sentiment towards crypto – a disruptive revolution in international finance, the total disregard of a plethora of positive and substantial 2018 crypto news etc.

I’ve given

BTC 18 Jan – Medium to Long-term forecast updates

January 18, 2019 Published by

This post is a look at how we are doing based on previous forecasts, and consequently what we can expect in the medium to long-term future.

A Bit Brain original

BTC 18 Jan – Medium to Long-term forecast updates

On 15 Jan I published a medium-term BTC forecast. The chart below is taken from that post, unmodified but for the candles that have been added since then.

So far the post holds true, BTC is still in a tapering triangle, fast approaching the breakout zone. It will reach the breakout zone approximately 24 hours from now. From that point onwards a breakout becomes likely,

Fiat pairs trading on Binance!

January 16, 2019 Published by

A brand new Binance exchange named Binance Jersey is up and running!

It offers fiat trading with the pairs BTC EUR, BTC/GBP, ETH/EUR and ETH/GBP.

From https://www.binance.je/en/trade/BTC_GBP

The exchange launched only a few hours ago and is a big step forward; both for Binance which is looking to release its own DEX soon and for cryptocurrency mass adoption in Europe.

Binance Jersey is located at https://www.binance.je – you can’t access it through the regular Binance site. Binance Jersey is located on self-governing British Isle of Jersey – hence the name. This means that you have to make a new account, which is fairly painless,

BTC medium-term – 15 Jan

January 15, 2019 Published by

A look at the medium-term future of BTC as I see it.

BTC is forming another converging triangle, making a breakout a strong possibility from next week.

The lower side of the triangle seems to have been defined. This is not a certainty at this stage – it’s not impossible that a near-future price drop redefines the triangle. I would say that there is about a 65% probability that the triangle is now in it’s final form and will not have to be redefined.

A trendline which started on 6 December continues to be my benchmark for current price movements.

The typical Breakout Zone

No Kevin, Bitcoin will NOT bite the dust – Part 3

January 15, 2019 Published by

On Sunday I wrote about an article written by economist/financial expert Kevin Dowd. It discusses why Bitcoin will become worth nothing. I disagreed, but I did not say why he was wrong. Now I am doing just that.

After I finished formatting my counter-arguments, in true Bit Brain style, I realised that they were longer than expected. This is why this is the third post of the series, the one which debunks Kevin’s second argument.

You have to have read the first post for this one to make any sense. You may find it here: https://mentormarket.io/bitbrain/no-kevin-bitcoin-will-not-bite-the-dust/.

You should also read the second post

No Kevin, Bitcoin will NOT bite the dust – Part 2

January 14, 2019 Published by

Yesterday I wrote about an article written by economist/financial expert Kevin Dowd. It discusses why Bitcoin will become worth nothing. I disagreed, but I did not say why he was wrong. Now I am doing just that.

I have finished formulating my counter-arguments, but in true Bit Brain style, they are longer than expected. Thus I am further subdividing this post into two – I will discuss his two main arguments in one sub-post each.

For this post to make any sense, you first have to read: https://mentormarket.io/bitbrain/no-kevin-bitcoin-will-not-bite-the-dust/ for the background information.

From www.pexels.com

Why Kevin is wrong:

First Argument: Bitcoin mining is a natural monopoly

Bitcoin is

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