Real Trading #5 On the way down
On the way down
As expected, markets continue a downward trend:
Situation with the fiat currency is not much better as ETH, LTC and BCH are down 5% against USD; BTC is down 1.3%.
As discussed at length during Real Trading #4 https://steemit.com/cryptocurrency/@sososerious/real-trading-4-bitcoin-price-forecast-usd2176-25 We expect downward trend continue for months, until price hovers around $2,200. The race to the bottom is uneven, however, and these differences I hope to exploit in crypto to crypto trading. As discuessed in Real Trading #3 https://steemit.com/cryptocurrency/@sososerious/real-trading-3-ltc-breaking I am waiting for Alt currencies to hit recent lows to make a trade.
What will miners do?
I predict for currencies to hit prices well below profitable rates for miners. This will be interesting as this price correction will erase inefficient miners, as well as, projects with no substance to them. As market continues to struggle; in the future blogs I will talk about some mining alternatives and hardware deals on the horizon.
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