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Everything posted by TrendFollower

  1. On another thread which @cryptotraderstarted @wjw22 commented that Bitcoin is not money. Money is something that can be transferred or used in exchange for goods and services. Bitcoin (though not widely accepted - in fact miniscule acceptance at this stage compared to FIAT) can be exchanged for goods and services in certain places across the globe. They then go on to state that Bitcoin is not a store of value. These are just words. Since Bitcoin's inception in 2009 if you invested £1000 of your hard money into both Bitcoin and Gold then Bitcoin would have proved to be the better store of value than Gold. This is even after numerous 70% to 80% corrections! Bitcoin is not only the best performing asset in the whole world in 2019 but it is the better store of value since its inception. If @wjw22 has any evidence to support otherwise then please do provide. They then state Bitcoin is a Ponzi and a pyramid scheme. Again these are just words. The European Commission, UK Government and many large Government and corporations are looking at Cryptocurrencies and how it can be applied in certain jurisdictions across the globe. We are at a very early stage. These things take a lot of time. Evidence from a credible source needs to be provided to support such statements as otherwise they are just words which originate from bias, ego, stubbornness, etc. @cryptotrader, in case why you are wondering why I am not responding to your thread, it is because I want to avoid any aggressive discussions and arguments. We all have different levels of understanding and experience in this area. We all read different literature and research papers on this area. We all have different levels of knowledge in this area. Another reason is because I have done what you have a year or two ago in either this thread or the Blockchain Trilogy thread, cannot remember and it is pointless unless there are balanced arguments presented with credible evidence from credible sources. People first compared Bitcoin to the Tulip Mania. Now that it has blasted through that people are now comparing it to the Internet boom and bust. Why must we compare it to anything? The Bitcoin boom and bust and boom again could be new future being created without any copying of past historical incidents. Future performance does not have to be based on past historical performance. From time to time new history is created that is different from the past. Bitcoin is a new asset and a new revolution which will create a new history and a new future. Now @cryptotrader your thread was about Bitcoin specifically based on your title. Not about Cryptocurrencies in general. Yes a lot of Cryptocurrencies are junk. If Bitcoin's store of value is laughable then its store of value performance in terms of protecting capital and increase the value of the capital is astonishing when compared to Gold in the same period of time since Bitcoin's inception. Someone is buying Bitcoin hence the price is going up. A normal person does not need buy one Bitcoin at $13000. They can buy a fraction of it using FIAT money. That is the beauty. Countries like China and Russia want to end the US Dollar being the Reserve Currency. It is unlikely that the world will go back to the Gold standard. In this coming 'Digital Revolution' Bitcoin is one of the favourite to be groomed as the worlds first digital reserve currency which is not linked to any one specific country like the US. During US-North Korea, Bitcoin went up more than Gold. During US-Iran tensions, Bitcoin went up more than Gold. Therefore times are changing. People and countries do not want to store their money in something which can be manipulated by central governments and priced in US Dollars. Times are changing and power is shifting from the west to the east and countries like Japan have embraced Cryptocurrencies. I respect the views of others but what tends to happen is that if someone is negative towards Bitcoin then they highlight the negative and do not offer a balanced argument. Likewise if someone is positive towards Bitcoin then they do not highlight the negatives. Even I am guilty of that. I accept there are negatives and flaws in Bitcoin and other Crypto's.
  2. @mykig, Bitcoin is extremely volatile. It can go up 1000 points or drop 1000 points in the space of a few hours. Bitcoin has just hit $12962.70 so nearly $13k! It has since corrected back down to $12.k. The momentum is strong. The price action and trend is strong. The current move is being supported by volume. The moving averages have been blown out of the water. It is making new 52 weeks highs. It is a Trend Followers Dream.
  3. Bitcoin hit $12303.10 overnight. It is currently at 5:00 am UK time up around 800 points and around 7%. It is trading around the $12200 level. It is reported that there around 10 days in the year that if you did not hold Bitcoin then you would miss its best performance. The last few days will surely be included in that idea. I think exceeding its all time high of $20k is on the cards. Not bad for a 'Bubble', 'Junk that is going to zero' or 'Garbage'. Bring on more Tulip Mania's. They provide the best opportunities for traders to make money. If they use leverage then the profit potential is huge.
  4. Visa are beginning to flex their muscles in relation to tokenisation. This article has just been released. Visa Buys Rambus Payments To Tokenize Any Transaction On Any Network https://www.pymnts.com/visa/2019/visa-buys-rambus-payments-to-tokenize-any-transaction-on-any-network/
  5. I just read this very interesting article in the Economic Times in relation to India, Cryptocurrencies and the US Dollar. Why India should not outlaw cryptocurrencies https://economictimes.indiatimes.com/news/economy/policy/why-india-should-not-outlaw-cryptocurrencies/articleshow/69933164.cms I found this article fascinating. I think India will be making a grave mistake if it bans Cryptocurrencies. They need be proactive and lead the way but they are already too far behind.
  6. @Foxy, Oh ok. That is fair enough. I agree with your points. One must know what they are doing first before even thinking about shorting. Apologies I did not understand so thanks for clarifying. @Foxy makes a very important and valid point. If you have not learnt to trade on the long side then you really should not dabble on the short side. I can see where Foxy is coming from here.
  7. Now some of you may not be aware of the following ETF which is available on IG's platform. Global X Funds - Global X Internet of Things ETF Now there is also another ETF which many of you may not be aware of but gives you exposure to Blockchain as shown below: Horizons Blockchain Technology & Hardware Index ETF Now there are several investments you can make using IG on Artificial Intelligence and one of them is shown below: IG is allowing its clients to invest in these technology themes which I have presented so far to the IG Community. @JamesIG if there are any other investment opportunities in Blockchain and IOT via investment funds, investment trusts and ETF's then please do share in this thread.
  8. @Foxy When you are spread betting for example then shorting is no different to going long as you are betting on the price movements in either direction up or down. Now if you apply for example trend following principles to any trading decision then it really should not matter. I agree that traders should be very careful when thinking about shorting as it is high risk and if they cannot make money on the 'long' side then do they have the right strategy to make money on the short side? The article is just an opinion of the writer but I would encourage anyone trading to consider going both long or short depending on the price action and trend. A trader wants to make money regardless of how the general market or asset they are following is trending. They want to profit from markets trending up and down. Sideways markets are the ones to avoid as they tie up your capital and you are not making much returns during this period.
  9. I just came across this and thought it was rather interesting. One must take things with a pinch of salt as charts and figures can be presented to show what the messenger wants so one must be weary of this. Anyway it was interesting reading! This One Chart Exposes Bitcoin's Nakedly Bullish Potential https://www.ccn.com/op-ed/this-chart-exposes-naked-bitcoin-potential/2019/06/25/ Hint: This article mentions Gold too! 😁
  10. Argo seems to be following the lead from Bitcoin and other 'alt coins'. It recent surge and breakout is impressive. Whether it can sustain this is a different issue altogether. It is trading above its 20, 50 and 100 day moving averages when looking at the 'daily'. I include the chart below. I wanted to also share the current 'Significant Shareholders' in Argo Blockchain PLC. There are some large institutions who have invested such as 'Miton Asset Management', 'Janus Henderson Investors' and 'Jupiter Asset Management'. https://www.argomining.co/significant-shareholders These large institutions will have conducted due diligence far better than the ordinary investor one would like to think. As long as Bitcoin keeps climbing then I can see Argo continuing to rise along with it. This could be a potential 'Long' trade based on its current price action and trending direction.
  11. KR1 sees significant returns from blockchain and crypto investments https://www.proactiveinvestors.co.uk/companies/news/220238/kr1-sees-significant-returns-from-blockchain-and-crypto-investments-220238.html
  12. I came across this which is rather interesting from Eddy Travia of Coinsilium. Eddy Travia, Coinsilium: Government Need to Regulate Cryptocoins, but Not Kill the Ecosystem https://www.technadu.com/eddy-travia-coinsilium-government-regulate-cryptocoins-not-kill-ecosystem/69184/
  13. Vela has released the following RNS this morning which I include below: Vela Technologies Vibe Group Update - Investment by Candy Ventures https://www.investegate.co.uk/vela-technologies--vela-/rns/vibe-group-update---investment-by-candy-ventures/201906250700052556D/ Vela is seriously undervalued when you compare it to the Net Asset Value (NAV). Its market cap is extremely low in my opinion. However there has been some serious dilution. It does offer a compelling proposition from a 'Value Investing' perspective but the risk is extremely high. Someone I know is looking at investing further at these very low prices. I think the bottom has been formed and it is unlikely there is any further downside. Great investing is all about timing and identifying those companies which are undervalued and the market has simply mis priced. Time will tell whether this is the case or not but I include the current chart below:
  14. Part 7: I think outside of the US large companies the UK most probably has the most developed digital technology sector when comparing it most of the EU Member States. London plays a key part in this and some of you will be familiar with London being described as the 'Fintech Capital'. I think Brexit is making it harder for the UK to really progress further in this area with speed based on all the uncertainty and it puts at risk the UK's digital economy. Why do I think Brexit makes it harder? Well it affects the UK's ability to transfer data across borders (EU Member States) or potentially limits it. Blockchain is very good at creating trust in information and processes where there are lots of different stakeholders. It is also very effective in created trusted audit trails of information. It has the ability to keep data both private and sharable. I can see Blockchain being applied to 'Identity'. Identity information could be put on the Blockchain and used to provide a secure, unique and verifiable identity. I can see Blockchain being used for asset registries. A lot of work has already been done on this. If I recall correctly then India has put the land registry of one its states on the Blockchain. So for example, land title, patient health records or educational certificates could be applied on to the Blockchain. There has been a lot of work already conducted into this and there are a lot of articles about this. I think that Governments will create a system for 'Digital Identity' and this will be the fundamental building block and a key area which Governments will focus on. There has already been talk of 'Digital Currencies' or should I say digital versions of national currencies on the Blockchain. The one thing that is missing right now not just in the UK but across the globe is regulation. When this comes and it will, it will open up so many opportunities. The European Union has embraced Blockchain as an important tool in fostering innovation and support the 'Digital Single Market'. Some of the key areas in my opinion based on the reading and research I have conducted in this area lead me to believe that Blockchain will play an important role in the following areas: Identity Title / Asset Registration Healthcare Educational Certification E-Voting I have another thread called Tokenomics / Tokenisation / Token Economy so please feel free to read that should this not make sense. I can see the potential for tokenised FIAT currencies so basically money on the Blockchain. Just imagine real time automation of payments through 'Smart Contracts'. The Bank of England have already released a report on 'Central Bank Digital Currencies' (CBDC). So one could see the implantation of 'tokenised central bank money' to help make financial transaction processed more transparent resilient and cost efficient. If this could be achieved then central banks could issue digital cash to its citizens. This for me is the future. Whether this happens in my lifetime or not, I do not know but it is the path the world is heading towards in my opinion. If anyone thinks this is just all 'fluff' then I would ask them to look at the Swedish Land Registry and the works conducted by the Swedish authorities to see if the process could be improved with Blockchain. If some of you are still not convinced then have a look at how the Dutch authorities are using Blockchain to improve Value Added Tax (VAT) processes. Estonia has also done a lot of good work by deploying Blockchain to its Succession Registry (wills) back in 2012. If anyone wants to know more about this area then please see my Blockchain Trilogy - Parts I, 2 & 3 + Easter Egg - By TrendFollower thread. To be continued...(Part 8 - Coming Soon)
  15. Is the current price action of Silver indicating a potential dip down coming for Gold? After such a parabolic rise it would be normal for Gold to correct. Silver may be taking the lead and it will be interesting to see if this is the case or not. Both could simply continue going upwards.
  16. Bitcoin has hit $11369.90 and is looking strong right now. There will be lots of volatility so those with tight stop losses are going to get stopped out, there is no doubt about that. This is how Bitcoin has worked historically unless something new happens going forwards (which is possible). I do wonder how much US-Iran tensions are providing the backdrop for capital to shift as a safe haven play with Bitcoin? I see Gold and Bitcoin are both moving upwards together and the main driver could be (I don't know that it is) the US-Iran tensions.
  17. I would not normally pay any attention to IG's Client Sentiment but thought I would have a look and it shows that 64% are short. This is not unusual as when looking at the 'daily' Lumber is still in a downtrend but only just. 36% are long. Also 11-50 of IG's clients have an open position in Lumber. Now call me cynical but it could be just 11 clients rather than 50 clients. That is a big difference! If IG know that 64% are short and 36% are long then surely it must know exactly how many IG clients have an open position to get these percentages. Now IG may argue that this changes on a daily basis or an hourly basis, etc. That argument is irrelevant as then IG should and could not give definitive percentages and should use the same approach and state that 20% - 40% have a long position and 60% to 80% have short position. Now this does not cut it for me. The percentages provided will mean that it MUST be based on exact number of IG clients rather than a range of 11-50. You simply cannot get exact percentages based on a range such as 11-50. Like I said at the start of the post, I normally would not even look at the IG Client Sentiment section and I wish I had not. It is not for me.
  18. That's the Lumber price. I am quoting IG's UK Spread Betting price.
  19. Gold is demonstrating a major breakout as shown by the 'daily' below: If this is a significant move upwards and if there is any substance behind this move then 'buying the dips' may prove fruitful.
  20. Carbon Emissions seems to have held up rather well. I include the chart below.
  21. Lumber has snapped back up and is up over 1200 points at the time of writing this post. It actually hit $40965.80 earlier on. This week will be very interesting to see how Lumber's price action behaves.
  22. @SwannyV, You cannot online. However if you ring IG's Customer Helpdesk (telephone) then they will be able to assist you with the sale of any shares.
  23. One must have a strategy to identify the strongest trends as early as possible and monitor their price action. Ideally this would be at 'Breakout Stage' and shortly after. This requires a lot of patience and discipline as traders tend to jump in and get caught in false breakouts. This is where some 'Fundamental Analysis' is important to understand any specific or significant reasons for the price move. When monitoring the price action some of these may trigger an indicator and present a signal to enter the trade either on the 'Long' side or 'Short'. Once this happens then if you are a 'Rules Based Trader' then you will enter the trade and know your exit price at the same time by setting a stop loss. This stop loss can then be amended to a trailing stop once your position is in profit. Having rules and using strict discipline to stick to them is imperative to reduce your chances of entering a trade which is a false breakout or counter trend reversal.
  24. @mykig, Those who have entered a while back should hold as there may be further gains and also hold until trend reversal. Those who have not entered may have missed the majority of the gains but could enter between $130 to $135 levels on the long side but it would be a big risk and Litecoin could face a sell off just there be a large bout of profit taking.
  25. I think Bitcoin Cash is just pausing for breath before it attempts $500 again and breaks through. I still remember where Bitcoin Cash was at Christmas time and where it is now.