Channel: Truth Investor

Category: Science & Technology

Tags: tradingvechain rfidshould i buy vechainsteembitcoin correctionethereumvechain chinavechain pwcshould i buy bitcoinbitcoin januarymonerohot altcoinsinvestingis vechain a good buyvechain nfclitecoincrypto investoraltcoinwabibitcoin dipbest cryptocurrencieswaltonvechaincryptocurrencychinablockchainvechain logisticsrfidraiblocksbitcoinwalton vs vechainfinancecrypto dives again? trading and some warnings

Description: Bitcoin is down yet again - it's the January blues. As always, the same question is on everyone's mind: Opportunity or trap? To which I say, I have no idea! But given that volume seems to have been declining while Bitcoin has been rising and vice versa these past few weeks, this suggests that upward momentum has been relatively weak and downward momentum is stronger. This is a valid concern. Steemit Post: steemit.com/cryptocurrency/@cryptovestor/crypto-dives-again-trading-and-some-warnings More importantly, given I allocated what I wanted to allocate at this level last week, I won't be purchasing any Bitcoin. I remain firm on the level mentioned previously at $8,300, but otherwise will not be buying in to any further dips or corrections. I also won't be buying to upside unless there is a significant sign that suggests more bullish activity (e.g: high volume to upside). I spend a decent amount of time in this video discussing "hot" cryptocurrencies, currently Vechain but the idea really appeals to all of them. Perception is so far detached from reality now with Vechain (but again, could be applied to any other "hot" cryptocurrency) that it has become exceptionally risky. Tacking blockchain onto RFID doesn't suddenly remove all the inherent issues that RFID has had for (wait for it) decades now. Just like Raiblocks has corrected nearly 50% since I talked about it being the "flavor of the week," I would be cautious investing at highs for Vechain. I also wanted to point out that a lot of cryptocurrencies are taking older technologies and tacking blockchain on it to capitalize on this craze. That isn't to say these are scams, which some people seem to unfortunately mistake my comments as insinuating. Rather it is to point out that blockchain is not an end all, be-all solution. Note that "reducing counterfeits" was a key argument for RFID 20 years ago and look where it is today in that specific use case. The point of my little "rant" in this video is that while it may seem that cryptocurrencies are brand new, there is really only a few new elements and a TON of modifications from there. Understanding the base technologies which are decades old will help you separate the substance from the fluff. And trust me, there is a LOT of fluff. Moving back to markets, as for altcoins, I am really only looking at a few that I like which are still a little too high for me to want to buy more (e.g: Monero and Steem). In short, I'm buying nothing in this dip currently - you don't always have to if you feel comfortable with your allocation. What are your thoughts on the market and irrationality? Let me know in the comments below, thank you. ================ If you like my content, you can support me through using ANY of the affiliate links below (I receive small compensation). The beauty of affiliate links is that I can pick and choose what I like rather than have companies approach me - everything I linked below (with the exception of Trezor since I like Ledger), I use myself frequently. ================ My Recommended Hardware Wallets: If you want to store your cryptocurrencies safely, the best way is through a hardware wallet. Seriously - look it up and you'll find plenty of information supporting this claim. There are alternatives such as paper wallets, but these are convenient and my choice for cold storage (offline): Ledger Nano S: amzn.to/2hZPj0q Trezor: amzn.to/2AxD9TN Ledger Blue (expensive): amzn.to/2hk7xst I personally prefer the Ledger Nano S, but the Trezor is such a close second that it really doesn't matter which one you go with. Ledger Blue is premium and convenient, but not necessary. ================ My Favorite Book for Investing in Crypto: Cryptoassets: amzn.to/2zKDdCF ================ My Recommended Exchanges: Coinbase / GDAX / Bittrex coinbase.com/join/5a08b12e305a1401d79d10e0 If you sign up to Coinbase using link above, you and I will both receive $10 each after you buy your first $100 of Bitcoin using Coinbase. Coinbase is much less intimidating for beginners. Once ready, move up to GDAX for cheaper or zero fees. For altcoins, I recommend Bittrex. ================ Legal Stuff: I am a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for me to earn fees by linking to Amazon.com and affiliated sites. None of what I provide in my videos is investment advice. Please do your own due diligence. ================ My Platforms: Twitter: twitter.com/Truth_Investor SteemIt: steemit.com/@cryptovestor Medium: medium.com/@Truth_Investor Seeking Alpha: seekingalpha.com/author/truth-investor/articles