What's good Steemit? What's good Team Australia? Hope you've all been notching plenty of upgoats and welcome to another overnight wrap. Was a little busy "modding" the MinnowBooster Discord channel yesterday and didn't get around to posting.
Congratulations to the minor draw winners of my SP delegation contest: @Walterz bagged him self a 4 week delegation of 300 SP and runner up @speedygonzales was stoked with his 4 week 100 SP delegation. Entries have closed, but the major prize is still in play and will be drawn next week. If you want to prop up the prize pool, swing by the post and drop an upgoat or two.
Here's the latest goings on in ...
Crypto Markets
Bitcoin traded as low as 2477 Wednesday, before finding a solid bid and bouncing back to end the day higher, just shy of 2600. Bulls will be looking to break above 2600 today, targeting 2700, followed by 2800. Still calling for 3000, though it's taking a little longer than I would have hoped:
It's a tough decision exiting a long based on technicals alone when you're fundamentally bullish, but looking at the ETHBTC chart this morning, I know I did the right thing. Pair finished both Tuesday and Wednesday lower and still looks a little heavy, having said that, I expect the bottom of the .085 - .097 zone to hold and I'm ready to go long again when she finds her wings:
Ether remains in slightly better shape against the USD, but still rather uninspiring and soggy looking:
Steem put in a beaut little rally out of support on Tuesday, taking Wednesday off to consolidate. Whether we're talking technicals or fundamentals, this is by far my favourite pair at the moment. It is extremely undervalued. When it does eventually break higher, equal legs target is .00128 (+110% from the lows).
Trading at 2.42 against the Aussie Dollar this morning and 1.84 against the greenback. Steem Dollars have recovered substantially, fetching $1.21 at Bittrex ... doesn't look like we'll be getting interest payments again just yet.
Like charts? Two of my colleagues from the forex world are now on Steemit and you should check out their blogs for more. Mostly forex charts at the moment, but I sense they are coming over to the darkside. Shout out to @forexbrokr and @furious-one.
Crypto News
Peak Bitcoin? I don't think so, but this snapshot of my morning google is pretty good:
I mentioned Goldman's +50% call on Tuesday and said it was a little cautious, now US equity research firm Standpoint Research is out with a call of 5K in "next few months" - CNBC had a chat with Standpoint founder Ronny Moas and it's worth a look.
In the US, a class action has been brought against Kraken exchange, with 5 of their (former) clients accusing the exchange of negligence. The exchange came under DDoS attack in May, causing a flash crash in the Ether markets, with clients losing hundreds of thousands of dollars. Kraken refused to cough up, saying they can't be held accountable for losses resulting from "unavoidable DDoS attacks" ... I have a feeling a judge might have a slightly different take on the matter. Coindesk has the full story
In related news, the biggest Ether exchange in the world, South Korean company Bithumb, has agreed to reimburse clients after a data breach resulted in widespread theft of client funds. (cc @Kraken). Coindesk has more.
Aussie News
Nothing really caught my eye in the way of local news this morning. There was a(nother) story about a peado priest, and the Acting Director of a Queensland hospital is saying this security guard just 'lost his balance', when he tackled a mentally ill woman trying to leave the hospital with her husband. This excuse always sounds a little dodgy and the CCTV footage is pretty damning. Both of those stories via ABC.
That's me for the day. If you enjoyed today's wrap, please swing me an upgoat and resteem. Also, if you're going to go around posting pictures of goats on Steemit, you should always attribute your source. Every time you don't give a picture credit, somewhere in the world a baby goat dies.
(pixabay.com)
( @bearone )
Want a boost? Click here to read more!
Moon.
Steem?
Whats your prediction for STEEM in 1 year?
No idea sorry mate, I'm a technical guy so it's hard for me to make long term predictions with out adequate historical data. Having said that, Ether has shown that scarcity isn't the only thing that drives value in a coin - there is a lot to be said for utility. If I was to make a long term call based solely on that, I'd say fair value is somewhere in the $50 - $100 range.
So many variables though!
A conservative estimate would be ~$10
I think we'd all be pretty stoked with that XD
Please do you have any predictions for antshares, i have been hearing rumors , i wouldn't mind your professional advice.
I was long a little while ago, but got out at breakeven plus a few - I'm a margin guy and find zero leverage frustrating, but Bittrex doesn't offer. There is a lot of hype about it and think it has a lot of potential. If I could get long with leverage, I'd be looking to buy into this lower zone, or on a break above the wedge top:
PS This is not investment advice! :)
Woow nice
Glad you enjoyed :)
Brilliant, as always :-)
Thanks mate - and cheers for the resteem!
Edit: Whoa I just read your bio - you sound like an interesting guy! Now following.
Thanks @Bulleth!
Awesome news update. Didn't know about the Kraken suit. Following now so as not to miss a thing. Glad I stumbled on you guys. Keep it up.
Thanks mate, I just scour the headlines each morning, pick a few that I think my followers will find interesting and summarize/comment - a monkey could do it!
HAHAHA, I love monkeys!
I've got a thing for goats
Cheers for the shout out boss!
I'm not a convert yet... We both know that $USD is, and always will be king ;)
USD has caused me so much pain last couple of years ... This has been the most boring tightening cycle ever. USDJPY had more legs when they were still easing!
That says everything you need to know about the psychology behind markets.
It's not about what's happening, it's about what is perceived to be happening the future and the moves come from whether it was priced in correctly or not.
Upvoted and followed :) Love your writing style!
Thanks Bitsy, really appreciate it!
Haha, just Upgoated you mate!
Thanks mate! Technically an upgoat needs to be accompanied by a picture of a goat in the comment though :P
nice post thanks for you information
Thanks mate, no worries :)
Good post, I like it. Hopefully your work can be useful. Your experience is a new science to us.
Thanks Gavett, glad you enjoyed :)
Nice post thanks for share.
Thanks mate, todays post will be up shortly - running a little late!
Thanks for the shoutout. I'm not a writer, so looking forward to improve my posting skills in the coming times.
Appreciate the time you put in your extensive and excellent post @bulleth, cheers an thanks!
No worries mate I should have put @zigzagfx in there too, he's on board too. I haven't had much time to check out his posts though. Swamped.
Great post. I hadn't heard about the Kraken lawsuit, but I remember the DDOS attack and some fellas moving their funds out as a result. Unfortunately I think they moved them to Coinbase/GDAX...
Now following, keep up the good work!
Oh damn ... Coinbase agreed to credit accounts in the end though didn't they?
The latest I heard, yes, but some fellas just can't catch a break! Mind you, he bought into Ethereum when it was $10...
There you go - that's the game - you win some, you lose some!
Excellent post friend thanks for the information, I am new to steemit if you can pass by my blog there I am telling you what happens in my country, I hope your support God bless you
Not a problem, I am swamped right now but I will try and check out your blog. My new post will be up soon - please remind me in there!
Up goat :D :D
Technically it's only an upgoat if you include a goat pic in the comment, but I'll let it slide because you're awesome :P
Hehehehe thank hun. I had a giggle when I read up goat. So cute!
lol have you seen Ry's goat footers?
No!!! I have not seen any goat footers! 😁😁
Check out @scooter77's last post!
thanks for ur analysis!
Glad you enjoyed :)
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If you like what we're doing please upvote this comment so we can continue to build the community account that's supporting all members.
nice and useful post thanks for your information
Not a problem mehdikh - glad you enjoyed!
Subscribed.
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Upgoated.
(https://qldsmash.com)
For the comments as much as the article.
And for the goats. Everyone loves a goat.
Hahaha thanks Mark!
This post received a 1.1% upvote from @randowhale thanks to @bulleth! For more information, click here!