Skip to main content

Hmm, which way is this boat going to sail?

Alt coins traditionally show most of their strength on Fridays and Saturdays.  Then they tend to give some of that back on Sunday and Monday.  They tend to operate independently all week long, and then repeat the process.

We didn't see much strength yesterday (Friday) and they are looking pretty weak right now.  I've got a feeling we are going to re-test the lows of the recent correction.  Either that or they are going to strengthen and break out to the upside in the next 24 hours or so.

So, we better either see some strength soon, or I think we'll be re-testing the lows.  The image is from Poloniex at 19:00 on Saturday 6/24/17.

Comments

Popular posts from this blog

Antiminer S7 Issues and Diagnostics steps

Note, the instructions below are how I diagnosed the problem I describe.  I'm providing it here in case these steps help you narrow down your issue somewhere along the way. I have an Antminer S7 (batch 8) unit that has been giving me problems.  It worked fine for a week or so then started slowing down.  I could hear the fan slowing down and speeding up and if I checked the web GUI of the unit I could see that “chains” 1 and 3 often had very cool temperatures, as if they weren’t even running. It would then try to get those engaged again and it would speed up and then the cycle would repeat.  Eventually, over time, I’d get a high piercing alarm sound and at that point if I checked the GUI I’d see Xs in the ASIC display instead of Os (image below). Above is how it was typically running.  After a while an alarm would sound and it would look like below: PSU: The first things I tried were to swap power supplies with a working unit.  It’s...

IOTA - A Beginner's Guide to Why IOTA Matters

IOTA is not your typical cryptocurrency.  IOTA, which typically stands for the Internet Of Things is a completely new approach to managing a blockchain. Blockchain technology is what made coins like Bitcoin (BTC) possible.  BTC is just a coin that uses the blockchain technology.  As I've said many times before, the "real" invention here was coming up with a blockchain that works.  To show that it works they created BTC.  The success of BTC is a very good indication of how well blockchains can work. Blockchains are what provide the audit trail of each transaction.  It is what allows you to purchase a digital "product" and be assured that the product is authentic and that you are the only one who owns that particular product.  It is what allows us to use BTC as money because it protects against counterfeiting.  Blockchains do have their limitations, most notably transaction speed, and IOTA solves these limitations.  This is hugely impor...

A quick Buck, or Bust?

I don't normally "trade" in Crypto currencies.  My strategy has been, and continues to be, find a good coin to buy and hold.  Studies have shown over and over that is the best way to make money when purchasing equities. But, I've decided to take some part of my portfolio, somewhere around 10%, and to take a risk with that part.  I'm looking for coins that have had a lot of volatility lately and which appear to be ready to break out. With that in mind I've focused on 3 coins this past weekend.  On Friday I bought a million coins each of Sia (SC) and Burst (BURST).  I have no attachment to Si, I'm only buying it because it is one of those coins I always seem to see with double digit gains on any one day.  Burst on the other hand is a coin I know fairly well and in fact I mine Burst on a daily basis. So I bought a million Sia at 0.00000425 and a million Burst at 0.00000560.  I'm hoping they both break out around the 0.0000072...