Let’s let the chart do the talking for the past 3 months where it currently sits at $9327.65
Back in February BTC posted the maximum high for the past 3 months of just over 11K. As you can see from March to April the lowest moves of the recent past were posted around the 7K mark. To me this looks like a classic sideways trading that eventually breaks out. You can see since April there has been a steady upward trend.
BTC hasn’t been able to defend the 10K mark but I do believe we have stability around the 9K mark. Some indicators claim BTC is currently neither overbought or oversold. But common sense has to tell you that if the price is going down it appears we have more sellers than buyers at the $10K mark. It could be people cashing out for fear of wondering when does BTC return back to the 20K mark?
Many people have said this spells disaster but I really do think we are just getting started with the BTC rally and I think much higher prices are around the corner in the near future. There has been a lot of positive news from around the world that seems to be increasingly towards accepting that BTC is here to stay.
Perhaps some regulators thought twice and realized that “like it or not BTC is too big and risky to ban”. Because people can move BTC at will and it cannot be frozen or truly banned. I think regulators are finding just as the case is with exchanges, if you put undue pressure on owners of cryptocurrency they will simply just move away to a friendlier jurisdiction. I would imagine they should favor BTC as it is not anonymous and is easily and fully trackable. If people switched to more private based coins they’ll have little chance at regulation such as with Monero.
I’ve held Dogecoin for some time and never really considered it the “internet meme joke based currency” that some consider it and recently bought more as I saw it approaching the 1 cent mark. Those days are gone with a Christmas Present of Dogecoin crossing the 1 cent mark! In fact it is been surging lately despite naysayers predicting its demise for various reasons. One huge thing Dogecoin has always had is a loyal and large community who uses the currency.
Now that Litecoin has hit the $300 USD territory and many other altcoins are very expensive clearly others have seen the value and potential in Dogecoin. In fact I believe it is undervalued and in the past 7 days Doge has nearly doubled to reach the 1 cent mark and market cap of 1.2 billion! It’s a huge milestone and for those who remember way long ago, there was a point where Doge was equivalent in value to Bitcoin!
I believe 2018 is Doge’s time to shine and it is definitely going to head into Litecoin territory (possibly the tens of dollar range in 2o18). Essentially the Dogecoin client looks the same as Bitcoin’s and Litecoin’s. In terms of technology though Dogecoin is more like a derivative or little cousin of Litecoin in the sense they both use Scrypt technology.
This is a good thing because I’ve never had delays or issues with sending or receiving Litecoin or Dogecoin, whereas Bitcoin can be slow and Ethereum is a nightmare to use (it is the worst wallet/client/network I have ever used and I absolutely dread Ethereum).
I think amazing things are going to go down for Dogecoin holders, likely not as big as long-time Bitcoin holders but I think in the coming years, Dogecoin users will be handsomely rewarded as the value skyrockets.
Another reason Dogecoin is rising is because of research, awareness and it is also a plain good buy compared to a lot of other much more expensive altcoins I firmly believe Dogecoin is largely undervalued. Dogecoin is a long-time crypto whose stability has been tested and proven for years.
I’m bullish on Dogecoin so long as the developers keep working on and marketing this currency and if they cap the supply. I don’t think it will take much for Dogecoin to see meteoric rise so long as those conditions are met.