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By Nathan Young

December 26, 2017

Bitcoin continues to be a volatile instrument to trade, but recently the movements have been a little subtler compared. Certainly this is still a speculative investment but with the introduction of more mainstream investment options, the price may begin to settle. Even though there is no true value behind the coin other than the blockchain, it is becoming more widely accepted.

Bitcoin Continues to Fluctuate but It Seems There Is a Stablization

Today, Bitcoin is in the fifteen to sixteen thousand range, off of the lows from the prior week. Bitcoin is just the face of this revolutionary currency movement, while there are many different cryptocurrencies to be traded.

The argument that a bubble could rapidly be growing is valid and needs to be addressed. I highly recommend looking into Bitfinex and Tether, understanding what could be happening. Trying to explain it in a summary version is nearly impossible, but it could be leading to something that many are ignoring. Similar to the dot com bubble, cryptocurrencies are doing the same thing right now.

If you are attempting to make a quick buck then now may not be the best time to enter the market. A popular phrase with the current market reactions are fear and greed. Fear and greed have certainly taken over, but what that means to the experienced trader is you can play on the markets emotion, thanks to their not being algorithms trading this market. However, with the introduction of futures and ETF’s coming soon, it may only be a matter of time.  

Going forward, taking a very precautionary approach is a must. The market is still there and the technology is valid, but the adoption is going very slowly. Goldman Sachs has tested the blockchain technology and returned solid results. Ideally, you would like to see this adopted by Visa and other payment processing companies, but that would mean incorporating a new technology and possibly accepting Bitcoin along side the US Dollar.  

Be very wary of the markets ahead as there could be a bubble forming that will eliminate wealth. Realizing some of the profits may not be a bad idea at this point, but whatever your position is, use caution and better judgment with your next move.

About Contributor

Nathan Young
   Nathan Young is a Senior Member of Macroaxs Editorial Board - US Equity Analysis. With years of experience in the financial sector, Nathan brings a diverse base of knowledge. Specifically, he has in-depth understanding of application of technical and fundamental analysis across different equity instruments. Utilizing SEC filings and technical indicators, Nathan provides a reputable analysis of companies trading in the United States. View Profile
This story should be regarded as informational only and should not be considered as solicitation to sell or buy any financial products. Macroaxis does not express any opinion as to the present or future value of any investments referred to in this post. This post may not be reproduced without the consent of Macroaxis LLC. Macroaxis LLC and Nathan Young do not own shares of Macroaxis. Please refer to our Terms of Use for any information regarding our disclosure principles.

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