Monday, 15 April 2013

Bitcoin analysis and other cryptocoin behaviour.

Hello everyone,

Before I get to the main point I would like to make some comments on the Bitcoin chart based on the hourly trades of 

Lot of people fear that Bitcoin is now on a downtrend and that BTC/USD will soon collapse to zero.
That is completely wrong. It is mostly obvious that big players have now entered the game and that they are pushing the market down in order to make the small fish panic and let any cargo of bitcoins go into the mouth of the big sharks like themselves.
MtGox BTC/USD, H1 - - 2013/04/12 to 2013/04/15
Red arrows indicate the violent and strategic push of Bitcoin downwards as blue arrows indicate a smart and steady gathering of bitcoins from small and panicked traders. This downtrend will continue until a vast gathering of Bitcoins is made and then the value of BTC/USD will explode again once more making the Bitcoin yet another opportunity and forcing small traders to enter at higher and higher prices. 

Thus I strongly suggest that if you are an easy shaken trader holding a small portfolio, consider yourselves the option of buying an alternative Cryptocurrency.  


Litecoin has gained its position as the second most famous Coin after Bitcoin. Some analyst say that smaller waiting times and faster transactions might help this cryptocurrency pass Bitcoin in the long run. 

After 12 Apr 2013 and the stabilization of BitCoin causes Litecoin to wake up once more and jump up close to its old values @ 0.030BTC. The same awakening happens to about all other Cryptocoins and they stay unaffected from BTC/USD downtrend.


The devaluation of Litecoin against USD caused by panic due to the mass sell-off Bitcoin has entered a halt. Mostly humble and stable, the Litecoin is gaining once more value against the USD.


Namecoin is also taking value against BTC.


Peer to Peer Coin also stays unaffected. My personal favourite after Litecoin.


Terra Coin wakes up once again. An interesting Cryptocurrency too.

Finally I would like to add that this upper trend of the other cryptocoins suggests a reserve power in the strength and value of the Bitcoin itself, because those coins are mostly traded for Bitcoin than other valuable things from the open market like Bitcoin does. As I mentioned BTC/USD will continue on this forced downtrend until the most of the small traders are gone. Are you going to stay out?

~~Source of Charts~~

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