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

Crytpo Market Return - Time to Study The Basics

What to Understand Before Entering The Crypto Market

The action in the market is heating up, and we’ve seen some wild trading this week! As attention is drawn to the market from new crypto enthusiasts, there will be a lot of questions that need to be answered. I will attempt answering as much as I can to help everyone have a basic education on what the cryptocurrency market is all about.

One of the most basic questions that people ask is, “what am I actually buying when I get involved in the cryptocurrency market?” This was my exact question when I first bought into Bitcoin. Was I buying “stock” in Bitcoin, or exactly what?

The answer is, buying a cryptocurrency is like buying a foreign currency. You are converting your “fiat money” into an electronic currency that has a specific purpose. For example, Big Daddy Bitcoin is usually used as a store of value, like buying gold. Buying Stellar Lumens (XLM) allows you to send money overseas to friends or family members without using Western Union, and the transaction completes in a matter of seconds.

Those are just two examples of coins that have very differing purposes, but actual value. There are literally thousands of different cryptocurrency coins and “tokens” (we’ll discuss that at a later date) that one can buy.

A good way to start is to research the “use case” of a particular cryptocurrency and buy into a project that sparks your interest. For instance, I love the XLM project because of how it is transforming the transfer of money, and how it connects many popular payment platforms like Paypal, the Cash App, Venmo, and more.

While there are specific uses for different cryptocurrencies, the majority of people are buying them for one main reason: to make money. This is called “speculation”, and it’s very similar to buying stocks on the NYSE or NASDAQ. Remember when people were plowing money into Amazon, Yahoo, and Apple during the early Dot-Com explosive growth days? The same holds true here.

While each coin has a purpose, at this point, we have not reached what is called “mass adoption”. In other words, you’re not going to be using cryptocurrencies to shop at Walmart with ease any time soon. What people are gambling on right now is that the value of cryptocurrencies will skyrocket in the future once we hit the mass adoption phase. That’s why we are speculators at this point.

That’s enough general information for now, but if you’ve got a specific question that you’re burning to ask, post it in the comments section and I would be glad to write a blog post to answer it! Stay tuned, more info coming soon!

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