Crypto Market Update: Blood in the Streets Presents Contrarian Opportunities

THE FINAL DIP BEFORE THE BULL RUN - PLANNING TIME!

The Red Watchlist

The crypto market is currently flashing red across the board. Investors are nervously watching their portfolios as prices plummet. But amidst the chaos, there lies an opportunity for those who dare to be contrarians.

Bitcoin’s Warning Signal

Bitcoin, the king of cryptocurrencies, is hinting at a serious correction. The once-unstoppable bull seems to be catching its breath. As the price wavers, traders are on edge, wondering if this is the beginning of a larger downturn. However, this is likely to be the last correction before the bull run kicks into high gear.

A Second Look at Correction Forecasts

I was about to abandon my previous correction forecast, thinking it might have been premature. However, recent developments suggest that my initial instincts were correct. Brace yourselves—this correction might actually play out as anticipated. Price targets mentioned in my last Bitcoin technical analysis included $62k, $52, and $44k in order of decreasing probability.

Altcoins Take a Beating

Altcoins, the smaller siblings of Bitcoin, are taking a severe beating. Their losses far exceed those of Big Brother Bitcoin, which is normal. But here’s the twist: this beating could be the golden ticket for savvy investors. While Bitcoin may only lose 10% or less, altcoins can lose upwards of 50%. This presents the opportunity for the greatest gains!

The Bull Run Opportunity

Remember the saying, “Buy when there’s blood in the streets”? Well, this is precisely that moment. Altcoins are battered, but this could be the biggest opportunity of the entire bull run. Keep your eyes peeled for hidden gems amidst the wreckage, and watch closely for sliding projects that have a solid use case, active community, and excellent track record.

Solana Memes Bleeding Out

Even meme coins aren’t spared. Solana memes, once the darlings of the crypto community, are bleeding out. But don’t dismiss them just yet. If this correction persists throughout the month, Solana meme coins could deliver astronomical gains. Some are also saying that once this correction is done, the BASE chain memes might launch into the stratosphere as money could flow over from the Solana memes. I don’t know which chain will dominate during the bull run, but I’m taking my chances on both, with a slight vote of confidence on the Solana chain memes.

The Contrarian’s Playbook

As the market trembles, panic sets in. But seasoned investors know better. When pandemonium reigns and fear grips the masses, contrarians step forward. They see opportunity where others see disaster. So, keep your wits about you and consider adding to your portfolio during this tumultuous time.

Conclusion

The crypto market is a rollercoaster, and right now, we’re hurtling downhill. But remember, fortunes are made during times of crisis. So, stay vigilant, do your research, and be ready to pounce when others retreat. Contrarians, this is your moment—buy when everyone else is selling!

Carlton Flowers
The CryptoPro

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Strong Bitcoin Correction - 2 Reasons Why, Plus Technical Analysis for 9-3-2020

TWO KEY EVENTS THAT INFLUENCE THE BTC CHART

While Bitcoin is in the midst of a strong correction, there are two other events happening which I believe have a direction influence. What are they?

1) The stock market dumping

2) The US Dollar rallying (DXY)

In history, we have observed that Bitcoin has a tendency to move in the opposite direction of a rallying US Dollar. Looking at the DXY chart, we have seen a short-term rally taking place over the past several days that coincides directly with the Bitcoin correction.

If you add in a stock market dump, and you have a resulting strong BTC correction. Take note that the Dow Jones Industrial Average got dangerously close to the previous high, before a harsh selloff ensued.

But let’s shift the focus to the Bitcoin chart provided by TradingView, and see if we can gather some clues as to what will happen next with this sizeable correction.

Looking at the 4-hour chart, we see that BTC met resistance at the magical 4.618 fib circle boundary. It then briefly clung to the 4.236 (sorry about the typo on the chart) before failing, and it blew straight through the 3.618 fib circle ring without pause.

With heavy sell volume happening already, and then the formation of that big fat ugly red candle that pounded the price down, there’s no telling where the price will land and find support now that we have sunken through the 3.618 fib circle ring. That was an important level to hold. The stochastic is very bearish, and we are making a definite move into the oversold zone where it could languish long enough to drop the price down a bit more.

When will the selling stop, you ask? The only possible landing point I can see is the CME gap set in July of 2020 at $9700. With over $348 Million in Bitcoin contracts that were liuidated in only 4 hours during this dump, the momentum looks like a train headed downhill that won’t even think about stopping before hitting that CME gap. I don’t have any doubt that the bulls will come out of the gates and go on a stampede IF we make it down to that CME gap. This might be the last chance to pick up on your favorite alts and buy Bitcoin at sub-$10k prices.

If we zoom in and look at the 1-hour chart, we can pick up a few more indications of how strong this event is on the micro level.

There is a definite death cross formation as the 50-day EMA crosses the 200-day EMA on this chart, and this is the designation given when both moving averages are on a downward slope. The 200-day EMA is just slightly sloping downward, but this is still indicative of a death cross, as evidenced by the harshness of the correction.

The 1-hour chart is just evidence to show us that this correction is significant and strong on the micro level, and it gives us a better picture of how things are developing while we are in the midst of the dive. I’ll be keeping track of the price movement on the 1-hour until we get to that CME gap, because there will be some buying decisions happening on my end!

Carlton Flowers
The CryptoPro

NOT FINANCIAL ADVICE - Entertainment purposes only. Seek a qualified investment advisor before making any decisions on purchasing cryptocurrencies.

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March 4th 2019 - Cryptocurrency Market Takes A Quick Dive

BTC Leads Altcoins on Rapid Drop

Today we saw Bitcoin surge to over $5400, and then take a dive, pulling down practically ALL of the altcoins on the market with it. I didn’t see either of these events coming, and it took most people by surprise. There is a lot of discussion on what the next few weeks hold in store for us.

In this video, we take a look at all of the Coinbase charts for the crypto leader board, and we notice that everything is in lock-step with Bitcoin. My question is, why would we see selling across the board, rather than BTC trading volume with the Altcoins?

My theory is that most of the action that took place today is from automated trading. That’s why the altcoins reflect all of the movements of Bitcoin. There hasn’t been a divergence for quite some time.

Everyone is also fervently discussing the current “mini uptrend”, and whether or not we will see a reversal and correction within a few weeks, or a shorter time period. How low will Master BTC go when the correction takes place?

The majority of prognosticators are calling for a bottom at 4200. The next possible level is 3800, which I am leaning towards. However, there are those that believe the final Elliot Wave 5 correction of BTC will drag it down to 2500 before the true bull market ensues. Time will tell!

What is YOUR prediction of the impending action? Do you have some technical analysis you’d like to share that supports your projected low point for BTC? Share it in the comments below!

Carlton Flowers
The CryptoPro

Return of the Crypto Market in 2019

Season Two of Crypto Madness Is About To Begin

Well folks, after a year-long wait, it looks like the crypto market fire sale is over! 🔥

I truly believe the bear market has ended, and it appears that we are in the midst of a transition period with a bull run right around the corner. This is the time we have been waiting for, and we have to be prepared to take advantage of it. 

One thing I promised myself after the run of 2017 was that I would take the lessons learned into the next bull market. I also promised myself that I would take advantage of investing into my favorite coins and tokens IF the market prices ever came back down again. 

Well they have. 

I never thought we would see the entire crypto market float back down to earth from the stratosphere the way it did during 2018. Even though I knew we were in a bear market by February of 2018, I still didn't fully realize the size of the impending dip until a few months later. 

Once I accepted the fact that the bear market was in full effect, I made my $3200 prediction right before the big slide. That was a lucky call, I will admit. But I'm super thankful for that slide. This is the market reset that we prayed about before. 

With volume heating up and candles breaking out of boundaries, it's time for me to start putting my attention back on the crypto market. You can expect blog posts and video commentary in the near future on a regular basis. 

I'm kicking around the idea of starting a new YouTube channel just for CryptoPro, and this video discusses a few of my ideas for what I'll be presenting. 

Stick with me, and please share your thoughts and questions! If there is a particular question you have that I can turn into a blog post, I would love to help share what I know and educate everyone. 

See you soon, and let's enjoy this market! 

Carlton Flowers
The CryptoPro

2019 Pipe Dreams & Bull Run Predictions - Here's the REAL Prediction

Why You Should Cautiously Turn A Deaf Ear to 99% Of the Prognosticators

2019 is here, finally. And we arrived without the much ballyhooed “December Party” that we had last year in the cryptocurrency market. I for one was of the belief last year at this time that December of 2018 would be a repeat of what we saw in 2017. Obviously, it was not.

The 2018 December cryptocurrency party was canceled. The party-goers did not show up. The bulls were out to pasture. The moon got lost in the darkness of deep space, never to show its face. In other words, we were all wrong.

But many of the hard-headed prognosticators continue to call for a bull run, despite the evidence to the contrary. As I’ve said before, you better exercise extreme caution before you listen to any of the so-called “experts” calling for a bull run in the near future.

Here’s why…

In order to see how ridiculous it is to believe anyone claiming that Bitcoin and/or the entire cryptocurrency market will break out into a bull run any day now, all we have to do is look at the historic chart. This puts it in perspective, and underscores a point I have been making for almost a year.

Once February of 2018 hit, my head came down out of the clouds and I started to realize that we were probably on the verge of a bear market, despite the majority of people calling for a short “blip” and continued bull run. I braced myself for the long ride down, and at times, I doubted myself when the Elliot waves would temporarily push the entire market back into what people thought was a real bull run.

If you scroll back through my posts, you can see it. Sure, I did not predict the depth of the bear market dive, but I did actually predict the big drop to 3100 just a few days before it happened. I still have a smug grin on my face after calling that one, but I’m proud of how well I did in sticking my ground calling the bear market from February on despite what everyone else was saying.

But let’s get back on topic! All we need to do in order to fully understand where we are at this point in the market’s development is look at the historic BTC chart. Here it is:

As we can see, the 2017 bull run absolutely dwarfed the bull run of 2013. But if we look carefully, we notice the unspoken the truth of the situation staring us right in the face. It’s that big span of time between the bull runs. The market took 2 or 3 years of quiet accumulation before repeating.

Take a look where we sit right now. We’re still in the midst of aggressive downward momentum, as depicted by the red arrow. We are dangerously testing the strength 3100 support level that I spoke about in my previous post. We may have seen the worst of it, and could be ready to shore up strength and start to hold strong.

But looking at the chart from the historic standpoint, what reason could anyone possibly concoct as to why we would jump straight out of a bear slide into another bull run, without the 4 complete stages of market development taking place as they have all throughout history?

You are right, there are exactly none.

I’ve said it before, and I’ll say it again… the stock market AND the cryptocurrency market follow a 4-part pattern that is indicative of human nature and impulsiveness. First, we have quiet accumulation. Second, a consolidation phase with a bump in volume, The third stage is “markup”, where the feeding frenzy hits, and everyone dreams of getting exponentially rich overnight. The fourth is distribution, when all of the institutional buyers and “smart money” have left the unsuspecting public holding the majority of the positions. That’s when the balloon loses its hot air and slowly sails back down to earth.

I would invite anyone out there to show me when ANY of the markets have broken this natural pattern of development in our history. That includes the stock market, the commodities markets, and the cryptocurrency market. Until proven otherwise, it is safe to say that this is not the best time to be investing money you can’t afford to lose into the cryptocurrency market.

But that doesn’t mean this is a “doom and gloom” situation by any means. It’s actually a blessing in disguise. Now that we have seen what the cryptocurrency market is capable of doing, after the bull run of 2017, this bear market guarantees that we will have another chance to get some positions before the next bull run.

All that you need to remember is that it will take time, and history will more than likely repeat itself. History hasn’t failed us yet, and I don’t expect it to in the future!

Be safe out there.

Carlton Flowers
CryptoPro

The Cryptocurrency Bear Market Continues with BTC Leading the Dive

WHEN WILL BTC HIT THE BOTTOM? IS THE BEAR COMING TO A CLOSE?

Since February of 2018, we have heard time and time again from the so-called "experts" that we are on the brink of the next cryptocurrency bear market. Once again, we are experiencing another dive after major news hitting the market has told us otherwise. What is really going on?

In my previous article, we discussed the announcement of the Exchange-Traded Funds (ETFs) decision on behalf of the Securities Exchange Commission. This was the most recent bit of news that was supposed to send Bitcoin into the stratosphere, straight out of the bear trend. But time has proven the news wrong once again.

After this CNBC story was released that the Winkelvoss Twins were rejected in their bid to launch the first ETF ln a regulated exchange, the market took a temporary dive after we saw a brief run to $8,000 BTC. Within a week, news broke that the Securities Exchange Commission was going to delay their decision on approving ETFs as a whole until September of 2018. Immediately after, we saw the market take a nosedive.

Experts like Alessio Rastani and others reported that they did not believe BTC would fail to drop below the major support level of $6,800, with the probability of such a dip being 20% or less. But BTC had other plans, and made fools of the prognosticators once again.

What I have noticed since February of 2018 is that no amount of news will propel the market artificially into a bull run without allowing time for the natural phases of development to carry out. After the "distribution" phase of a market, or Bear Market, I believe history has proven to us that we have to see a time of accumulation where the market settles down and lays low.

Some call this the "dog days" of the market. This is what we have seen in the entire history of the stock market, and the cryptocurrency market has reflected the same, only in much shorter time periods. After the accumulation phase, we historically see a "consolidation" phase develop before a bull market ensues.

Digging back into the history of the cryptocurrency market, I fail to see a time where we have jumped straight out of a bear market into an all-out bull run. History normally repeats itself, but past performance is not a guarantee of future events. However, as volatile as the cryptocurrency market is, I truly believe it is safest to assume that we have to see these phases of development occur before a bull run can happen.

Common sense tells me that it would take an enormous amount of money to catapult the market from a slide straight into a bull run, and it would take an even greater amount of continuous buying pressure to sustain a run. You just can't get something from nothing, and it takes a constant influx of capital to keep a market propped up.

Human nature has proven this to be right throughout history. The masses of the general investors move on emotion, and the insiders with significant amounts of money invest in a contrarian way. They play off of each other, and it's usually the general population that ends up holding the short end of the stick when they start believing news releases that make improper claims.

Looking at the current chart, we can clearly see that BTC is continuing in a bear trend after the brief run to 8,000 in late July. I don't think this is any mistake. BTC will have to find its rock-bottom point before an accumulation phase will follow. Right now, there are two possibilities in my opinion.

I could very well be dead-wrong, but we see that BTC failed a critical support level of $6800 this week, and is headed for the next support level of $6400. If BTC fails to hold $6400, we could very well see $5800 as a new possibility of the rock-bottom point. These critical support levels are shown on the chart in repeating intervals, and I believe this is due to automated trading activity.

The previous bottom point for BTC before the 2017 bull run was $5800. There is no magic to the prediction that $5800 could end up being the bottom point, because there are probably several trading bots programmed to buy big amounts at that point. Only time will tell. But it's best to assume the worst when you don't have money to lose in this market.

We will keep our eyes on the charts and watch the activity during the month of August, and carefully observe whether or not BTC finds that rock-bottom point before we enter the next phase of market development!

Carlton Flowers
CryptoPro

Bitcoin Ben on the G20, ETFs, BTC, and Hyperinflation Control

EXCHANGE-TRADED FUNDS KEY TO NEXT BTC RUN, SAYS BITCOIN BEN

The July 24th edition of the Bitcoin Ben VLOG is worthy of discussion, as Ben delves into the details of what he thinks will cause the next major launch of Bitcoin.

At the G20 meeting, Bitcoin Ben states that the group did not disclose the portion of the discussion where they agreed that the member countries would not have a deflationary conflict with their currencies.

The week before, he claims they were talking about how horrible cryptocurrencies are, and how they need to be banned. However, he goes on to explain that they aren’t going to do anything about cryptocurrencies because they don’t see them as a threat. Now they see them as a tool. This is quite a change in attitude.

The "global elites", as he calls them, don’t “invent” anything as it relates to true wealth. They don’t create anything of substance. Rather, they leach off of the inventions of others. He thinks what they have decided and recognized that they’ve found a new valve for deflation. They want to capture the wealth that they’ve "printed" into inflation. He explains that they can’t put it into shares of stock or currency anymore, because the stock market has been made too top-heavy. If they add anything more to it, he claims it will "fall over".

BTC surpassed 8,000 in July, which was a major psychological marker. However, he states there isn’t that much buying pressure. Bitcoin Ben believes that someone with a lot of money had to push through that 8,000 barrier. He thinks that the elites are now getting involved, buying as much bitcoin as they can. I do believe that there is some amount of validity to this belief, because we see that the market has continued to slide since the brief run to 8,000 BTC.

Before the announcement of the "ETF", or "Exchange-Traded Funds", he believes the elites are going to buy as much BTC as they can because they know what he (Ben) is saying to be true. The ETF, as Ben states, is going to be the tool or the "valve" for the inflation that the G20 has been printing in currency.

He believes that the people who are getting into the market now are the small players. The big players are starting to enter now, and that’s why we have had the recent growth. Between now and the launch of the ETF, Bitcoin is going to continuously go up. There will be dips, and Ben recommends that everyone buy on those dips. Last year, BTC jumped from $6,000 to $20,000 in three weeks flat. This is possible again, as he states.

"Once the inflation valve, the ETF, is turned on, that’s when the inflation pours in. As soon as the valve is turned on, the elites will already be holding positions. Once they launch one ETF, the price will skyrocket. Not all ETFs will play by the rules. There will eventually be a lot of ETFs based on LTC, ETH, ETC, and more", as Ben explains.

"There are two things that the elites must insure. They have to control inflation without raising interest rates as much as possible. They also have to keep the inflation away from commodities like bread, food, and silver. Silver is too important to industry to let the price rise. If silver were allowed to skyrocket, the solar panel market and the smartphone market would be destroyed, along with several other markets."

Ben believes that the global elites need a commodity that is structurally fundamental to the marketplace for their manipulative inflationary purposes. Once the inflation tap is turned on, it will make the Bitcoin market run. Bitcoin will continue to move up from here. "We will see a run that makes last year’s action look like a practice run."

Time will tell if Bitcoin Ben's commentary is accurate, and comes to pass. I do believe that his comments have validity, and it will probably be revealed in early September when the final decision is announced concerning the approval of Exchange-Traded Funds. Until then, it looks like the bear market will continue.

I do believe that the news of ETFs will at least push the market into an accumulation/consolidation phase, even though several prognosticators believe it will launch us into the bull market. But as I have always said, we have never seen the stock market or the cryptocurrency market skip the vital developmental stages of distribution (bear market), accumulation, and then consolidation before the final markup phase (bull run)

Keep your eyes on the charts, and we will see!

Carlton Flowers
CrytpoPro

Should We Prepare for an Extended Crypto Bear Market?

WHY PLAYING IT "SAFE" COULD BE THE BEST STRATEGY

It's June 2018 and BTC continues its bear trend despite multiple incorrect predictions over the past few months from several noteworthy forecasters who thought the bull market should have already started.

The most common belief among the prognosticators was that $6,200 BTC was a big support level that would be a pivot point. As we now know, that prediction failed miserably.

The entire alt-coin market has also mirrored Bitcoin. None of the alts have broken free from the overall downtrend since the December 2017 all-time high. All of the alt coins appear to be in lock-step with big brother Bitcoin, and it is safe to assume that none of them have matured to the point that they can bust loose and deviate from its path.

The big question looming in everyone's mind is, "has Bitcoin hit rock-bottom?" But the question shoulnd't center around figuring out Bitcoin's "rock-bottom" price. It should be understanding what happens overall, based on how price activity develops.

When you look at the big picture, you can decide if you're the type of person who would feel more comfortable holding a position for several years through the ups and downs, or if you prefer to take a break in the short-term until the market turns around.

My advice to everyone is to play it safe and look at the worst-case scenario, despite all of the talk about an immediate reversal. In order to do this, we must look at the 1-week chart dating back as far as possible to get a birds-eye view.

In this analysis, we'll take a look at the overall action on the 1-week candles for Bitcoin dating back to 2016. It's necessary to zoom out as far as possible in order to get an idea of what the worst-case scenario could be.

Let's begin by identifying the current trend. In Figure 1, we can clearly see that the current downtrend is not your average correction in the midst of a rising market. After the peak in December 2017, we see lower highs and higher lows for 6 straight months.

The last time we saw an extended bear market like this was from November of 2013 all the way to January of 2015. That was a bit more than one solid year of a downtrend. But what we need to pay the most close attention to is what happened at the end of that extended bear market, which I notated in Figure 2 below.

Before the 2013 bull run spike, we saw smaller breakouts and corrections that did not span the time of what we saw in this overall picture from 2013 to 2015. This is key.

In January of 2015, a quiet accumulation period of 9 months developed before the the market ticked up to the next accumulation level in June of 2016. That next level of accumulation lasted through April of 2017. We could actually call this a period of "consolidation".

In April of 2017 the bulls took full control and the charge started. It took us all the way to Bitcoin's peak of over $19,000 before getting swatted down despite all of the hype and anticipation of breaking the $20,000 barrier. The bear market officially started, and continues on through today.

The biggest point that I want to make is this: we have yet to see a bull run jump right out of a bear market without a period of quiet accumulation followed by a consolidation phase.

It just doesn't happen! Trend reversals take time to develop, and you can't short-cut the process. That's why it is best to turn a deaf ear to all of the ridiculous bull market predictions that we have been seeing week in and week out since the all-time high.

Going back to Figure 1, I believe that the worst-case scenario that we all have to take into consideration is the trading zone delineated by the red box. I don't base this solely on the history of BTC, but by the age-old rule of the four phases of market action which are as follows:

• Accumulation
• Consolidation
• Markup
• Distribution

This is how the stock market has traded in all of history, and the only difference between the stock market and the cryptocurrency market is the time it takes to move through all four of these phases. The cryptocurrency market cuts the overall time down from 13 year cycles to a year or two.

After the all-time high in December of 2017, we have a period of "distribution", or an extended selloff. Before we can see the next BTC moon-shot, we have to see an accumulation and consolidation phase. It won't happen overnight.

While I am not a financial advisor or a professional who gives investment advice, I think everyone can learn from what history has taught us. And for those of us who are not able to invest a Brinks truck full of cash into the crypto market, it's best to play it safe and take the most conservative approach to investing.

Time will only tell. I could be dead-wrong. But taking this approach to predicting the next BTC movement will certainly prevent me from losing the last bit of change jingling in my pockets.

Carlton Flowers
The CryptoPro

Is Bitcoin Really "Rat Poison Squared", as Warren Buffet Suggests?

IS CRYPTOCURRENCY A FAD, OR HAS WARREN BUFFET LOST HIS MARBLES?

At the annual meeting of Berkshire Hathaway on Saturday, May 5th 2018, Warren Buffet stated that he believes cryptocurrencies will come to a “bad ending” after the “euphoria wears off”. Additionally, he claimed Bitcoin (BTC) is “probably rat poison squared”, stating that he does not believe that Bitcoin is a “productive asset, unlike land or corporate shares”. He called it “a handy tool for charlatans”.

Berkshire Hathaway vice president Charlie Monger echoed Buffet’s sentiment by adding harsh criticism including a statement that “someone else is trading turds and you decide I can’t be left out”. Munger previously called Bitcoin “totally asinine”, based on the belief that everyone involved just “wants easy money”.

Bitcoin and cryptocurrency is too risky for Warren Buffet, and he has no reason to buy in to the philosophy and future of the cryptocurrency market. It bears no significance on the future of crypto as a whole, considering the fact that Buffet does not own a smartphone and rarely uses a computer in his corporate office.

There are several reasons why I do not believe that their public statements will harm Bitcoin and its future.

The value of cryptocurrency and the trend towards decentralization is happening with or without them. It will more than likely surpass the size and strength of the stock market, world markets, and real estate market. The fact is, all of these markets will more than likely become integrated into the cryptocurrency market.

There is probably no chance that Warren Buffet or Charlie Monger will get involved in shorting Bitcoin, and that is significant. They are basically taking a “hands-off” approach to the entire cryptocurrency market, and at their age, they have no reason to secure themselves ahead of it.

The banking systems of the world view cryptocurrency as a threat, and there isn’t much they can do to stop the momentum. The more that cryptocurrency gains in total market capitalization, the less power the banking system will have in keeping control of the world’s currency.

There has been talk of the government of the United States creating a “crypto dollar”, and this is a real possibility. But will it bear any significance? I think not. It is only a move that could be created to keep the general population confused and using the US Dollar as a base of trade.

But a cryptocurrency version of the US Dollar has no real use. It goes against the reason that Bitcoin and other altcoins were created. The Dollar is a centralized currency, meaning the government and central bank has total control of its volume. If a “Dollar Coin” is created, it does not mean that the government and banks will turn over control to the general population.

The government will continue to work with the banking system in “printing” dollars for its own use. The government does not create any value as a producer of sorts. But the ability to print money allows it to stay in complete control of the population.

For example, if there is a war to be funded, the government can print all of the money necessary to cover the cost of manufacturing munitions and mobilizing an army. But this devalues the dollar, and leaves the general public holding the bag. We pay for it by holding a dollar that is weaker, with less buying power. The end result is that the people must work harder to keep the same level of living.

The government creating a cryptocurrency version of the US Dollar defeats the purpose of its use. The volume of a cryptocurrency is accounted for by the unmovable Blockchain network. If the US Dollar were to be moved to the blockchain, the government and central banks would lose their ability to control the volume.

The creation of a cryptocurrency “US Dollar coin” would be meaningless. The only way it would succeed would be by the ignorance of the public in believing that its use and accounting is regulated by the Blockchain’s permanent records. Without the Blockchain, a US Dollar coin would be no different than the paper version or the electronic money that comprises of 90% of its volume.

This is why I don’t believe the attitudes held by Warren Buffet and Charlie Monger have any impact on the future of cryptocurrency. They are the last of the generation that grew up with fiat currency, and they have no reason to participate in its adoption. As the richest men in the entire world, they don’t have a reason to pay any attention to it.

A significant point to consider is the fact that Warren Buffet and Charlie Monger have no interest in shorting Bitcoin. They are taking no position one way or the other. That alone is enough proof to me that their age and generational mindset is the primary reason for their negative view of the cryptocurrency market.

As time goes on, the central banks of the world will continue to realize that cryptocurrency is a real threat to their ability to remain in control of the world population and the monetary system. Without the ability to make decisions without the agreement of the public regarding the supply of money, they will become obsolete.

Time will tell. And it will be an exciting, tumultuous process that will be unfolding. Until then, I’ll be sitting back watching, and placing my bets on the future of cryptocurrency as the next evolutionary step for world trade and commerce.

Carlton Flowers
The CryptoPro

Is Bitcoin Ready to Surge Again? Two Possible Scenarios

MY THOUGHTS ON TWO POSSIBILITIES ON THE NEXT BTC BULL RUN

The action in the cryptocurrency market is heating up again. The market cap is on the rise, and all indications are present that the next bull run is here. But when will it happen, and how long will the run continue before it takes a break?

Many of the crypto prognosticators are calling for a Bitcoin run right now. But as we all know, the cryptocurrency market is highly volatile and quite unpredictable. Over the long term, I still firmly believe that the market will continue to rise as cryptocurrency is adopted worldwide. But what will happen in the immediate future?

I'd like to present two simple possibilities and give my reasoning why my gut feeling tells me that Scenario 2 is what we will see. And I also firmly believe that the real bull run is going to happen in the fourth quarter of 2018.

Let's start by looking at the first scenario, which seems to be the most commonly held  belief.

In this scenario, many believe that we have ended the bear market with the low point of around $6400 USD. Looking at the low of $5800 this year, we see a double bottom ending with the  higher bottom at $6400. This could be a good indication that we have seen the lowest Bitcoin trading price that we will ever see.

But has the market allowed enough time for this to be the final correction? It certainly could be. I am more convinced of this possibility considering the double bottom and higher low that has occurred. But the next chart presents a clear possibility of one more final correction before the next true run.

If BTC does not continue with an absolute breakout of the 4-hour candles on the upper trend line, a final short correction could occur before the bull run. And this looks like more of a possibility to me because it would allow for an absolute consolidation of this formation.

Judging from prior years action, I believe this to be true. It's not the popular belief, but there are a few market analysts that are considering this scenario. The clue will be what happens with the breaking of the upper trend line in the next few days.

If we close above the trend line and hold, forming a base at $9800, the run is on. Time will tell. But for those playing the market for the long term, it will not matter. Those looking to enter the market or mildly trade the action for the best possible return might benefit from waiting for this final clue to occur.

Either way, we now see institutional investing on the rise. And we also see the hedge fund investors losing a lot of ground that are still hanging on to short positions since the previous low. That is a very telling clue.

The safest way to enter into the market at this time is to wait for the confirmation of breaking the upper trend line, especially for those who do not have the capital to invest large amounts of money.

My advice at this point, which is not professional advice, is to play it as safe as possible and invest responsibly. But overall, I think there is a lot to gain by jumping in to the cryptocurrency market while we are still in the "early adoption" phase.

It's a tricky situation, and we all don't want to end up wishing we had entered into the market before the final bull run takes place during 2018, which I believe will happen during the 4th quarter.

This time last year, BTC was trading at around $1000 USD. Anyone who would have predicted a run to $20,000 would have probably been told they were being ridiculous. But if BTC continues to move as it has up until now, we could see $150,000 by the end of the year.

I'll be getting back into the swing of reporting on the cryptocurrency market now that we have had several significant developments, and I'll be keeping a close eye and reporting on the altcoins too. I'd love to hear your thoughts and analysis!

Carlton Flowers
The CryptoPro

Cryptocurrency is About to Become a Mainstream Payment Option

WILL THAT BE CASH, CREDIT, OR CRYPTO?

There’s a significant development in the works that everyone needs to know about, and it will change the way we go about our daily businesses each day in this country.

Coinbase, the largest cryptocurrency exchange platform in the world, and the only in-ramp for converting US dollars to Bitcoin and other coins, is about to change the game in the payment processing game for small businesses.

If you thought cryptocurrency was a fad, you might be changing your mind in the near future if Coinbase follows through with their plans. They have a “plugin” under development which will upgrade credit card equipment to accept a new payment method: cryptocurrency.

That’s right, you will soon be able to pay for your goods and services at the smallest level of business with cryptocurrency. Litecoin will be at the forefront, as the standard for payment transactions. NOT Bitcoin, for those of who you might be wondering.

While Bitcoin remains to be the “gold standard” of cryptocurrency, it really isn’t structured to facilitate the fast payment processing needed to become a viable every-day payment option for retail. But Litecoin, with the new Litepay network, is designed for this use.

Litepay has a goal to become the “world’s first borderless payment network”. In other words, it doesn’t matter where you go in the world, you will be able to buy and sell using Litecoin, via the Litepay network.

Here’s where it gets good: Coinbase is going to make it possible for businesses to accept Litecoin cryptocurrency as a payment option wherever you have a credit/debit card processing machine. That’s powerful.

If you don’t believe any of this will come to fruition, all you need to do is pay attention to the wizard behind the curtain…

Coinbase has secured partnerships with Overstock, Dell, Expedia, Dish Network, and is rumored to be on the edge of a deal with Amazon.com. They are making serious moves in the retail world. But the key is who is behind Coinbase.

It’s the Digital Currency Group, an angel investor. So let’s bring the chickens home to roost, and fill you in on the most significant part of the story: Mastercard just invested a significant amount of money into the Digital Currency Group. Mastercard is the wizard. That’s all we need to know.

In order to speed the rate of adoption of providing this new payment option, Coinbase is going to reward businesses handsomely. In fact, the reward will be so great that small businesses will be able to offer a nice discount to customers who chose to pay with Litecoin cryptocurrency rather than with cash or credit, in terms of the US dollar.

That is very significant. Stop and think about it…

Rewarding businesses to accept cryptocurrency will have a tremendous impact on the rate of adoption of the new standard. The Coinbase plugin combined with Litepay could be the straw that breaks the camel’s back. It could be the final event that breaks the dam.

The dam is holding back the impending tidal wave represented by the changeover to cryptocurrency. Technology, innovation, and efficiency are the forces responsible for the creation of the wave.

Mass adoption is coming. We will all have a front row seat in the theater of societal change, watching it all happen right before our very eyes. And in two blinks, we'll be hearing our favorite merchants saying, "will that be cash, credit, or crypto?"

Carlton Flowers
Cryptographer Supreme