RE: Technical Analysis - CNBC reports cryptocurrency markets panic as Punxsutawney Phil sees his shadow then return to norms after realising he's just a groundhog and CNBC are full of S*&t..
As with everything, it's media that's in control. They have the power to make or break the crypto market in a couple of seconds. Personally,after making some wrong decisions based on what the big media sites posted, I decided to stay away from them. As a result, I may run a little bit behind on some things, but the big advantage is that I won't get caught up in their game of news manipulation.
When something important really happens, the news will reach me eventually - coming from a source that is more trustful.
Like I mentioned on SteemThat, I completely depend on other people's analysis and my gut feeling when it comes to investing, so I'm always happy to find people who know what they're talking about.
If possible, I'm very interested in Monero (which has been a huge disappointment up until now), Golem and BAT. This last one just appeared on my radar and I don't know what to think about it...
P.S.: I really hope you're right about Dash. My gut feeling told me to buy some last year, when they were at $89. I thought it would have reached its limit by now, but apparently, the future looks bright 👍
Hi @mike314-0005 - That's awesome that you got into Dash at $89! Well done man!
I can't give you advice as I'm not a financial adviser, but something I learned a while ago is to always take a little profit when up a good chunk. I hate doing it myself as I get very attached to the dream of the 60,000% ROI sometimes, but you never know what will happen. Profit taking is a key part of portfolio management. I go find my next investment when I feel the need to take profit is coming so I'm well prepared and can revel in watching the new position take shape. Also great when that new position starts to show positive signs as well!
I hope my thoughts for Dash are right. I feel that I've calculated risk well so going high or low won't hurt me, but as I've been saying on my blog, I think there are not just good signs in the technical analysis (which some very good analysts seem to disagree with I must say), I also think Dash has matured well and still has the team and community behind it to rally further. Time will tell!
I said in response to your earlier comment on VTC that sometimes your gut feeling is your subconscious putting the pieces together for you. Just be sure you can tell the difference between the wisdom and and flip side "FOMO" it can bring to the game!
A few months back when KuCoin launched, I read up a lot on KuCoin Shares (KCS). I loved the idea so I kicked off a plan to start building a serious position in them. I calculated the holding would be high risk as I was going in as an early investor and they didn't have any KYC or much of a tech stack behind them, but kept my targets realistic and executed the plan. I had quite a few of them that I bought between $0.35 and up as high as $0.85.
My dollar-cost average was bang on though, around $0.55. Anyway, the exchange had lots of problems and the FUD from the community (and some unscrupulous competitors) was ridiculous. My gut told me all was great and the holding made great sense, but after more problems and more FUD, my logical side kicked in and told me I was being stupid and should back out a little. You know what's coming.....
I sold half of my position over a few weeks late November through December, then January landed and KCS went up 4,888%....Don't get me wrong, I was still happy with the profits I made after selling at a peak of $20 and getting an average of $15 each, but man did I miss a pay day then. True story! You'll see HERE how early I was getting onboard the KCS train.
5,000% paydays come around very few times unless you're throwing money at anything you can speculate on. Even if you do your homework, you'll generally find after a few hours of digging that something ain't right and give up. But hey, that's the game!
Don't ever go in with just the gut, but sometimes you'll kick yourself for not listening to it. Sure, it's done you well on Dash! :)
I hear what you're saying about the news and media these days. I read around 10-15 different news sites throughout the day. Not to buy in to what they are saying, but mainly to prepare for incoming panic sales caused by the FUD they constantly dish out. I kind of laugh it off, but it really is pretty bad sometimes as I know a lot of people lose money when they panic and sell up at a loss.
Some great suggestions for reviews and analysis there so I will try to cover them as best I can. Monero is not a strong point for me. I've never held it or wanted to so far, so I might not be the best person to review it, but I'll certainly review the price action and do my best to look into the tech and wider market effects on it.
I actually held both Golem and BAT before. I'm not sure if the team from Brave Browser took up the offer, but Vinny Lingham from Civic was trying to get them to use Civic for the KYC they needed to do in order to pay out BAT to users. Two very good and admirable projects, but many things to consider such as competitors and timing!