Ethereum is temporarily de-throned… from having the second largest Market Cap. But will it last? Or will Ripple leave 2nd place like last time, after just a few hours. Nevertheless the battle continues as Ripple exceeds Ethereum’s volume in US dollars by a little less than 20 million for the past 24 hours. Personally I can see both of them go back and forth for a while, I however do believe that Ripple has pretty non-existent fundamentals in terms of it actually being an ‘accepted’ cryptocurrency and thus doubt that it will stand the test of time, unlike Ethereum. Be weary if you’re holding high price entry bags of either of these though.

Lately I have been waiting for Bitcoin to drop below the trend-reversal to confirm the bears have temporarily taken over, before the next bull-run towards 2000 – 2500. I’d like to see it dump to 1500 and then resume rising from that price range after some consolidation. Perhaps the upcoming SEC notice of whether or not they will approve a Bitcoin ETF revision will prove as causation for this dump. I think we’re over due a major correction though, however we all know too well how crazy the Bitcoin bulls get… especially the last couple of months.

I was lucky to get some early ish entries into Radium after the confirmed breakout and I’m looking for a run up to happen this week. Potentially it will coincide with Bitcoin dumping hard on the ETF news. My targets are 0.0028 – 0.0030 and my entries range from 0.0015 – 0.0165. This run up should be just around the corner… especially if we can consolidate above 0.0015 on a 3 day candle, weekly would be even nicer. Trade safely and always take profit.

Peace, Love and Light.
Mark

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