Recently , it can be said with no doubt that crypto and it’s current bear winter have been unkind to Asia , specifically China – where mining companies are going bankrupt, where ASIC’S that were high end not all that long ago are being sold for scrap. Thusly, many miners and owners of mining pools HAVE NO CHOICE but to sell their , likely other MINED currencies , and who can blame them.
The problem comes in there and in the American sessio , where people perhaps are just not seeing the correlation and taking the time to either buy or at least not succumb to panic selling.
Not ALL CRYPTOS ARE MINED. This is an important distinction , and yet the market continues to look to for price direction. In the past 48 , rallied out of proportion to prominent coins that dont require mining. The coupling effect?? Price manipulation to keep mining in business?? Institutional buy in?? The latter seems unlikely as that would result in a sustained rally, and , while in the green , is teetering. Other coins didn’t fare too well.
Something else seems to happen during a wavering market – everyday at some point the TRADEVIEW daily range resets , and more often than not , price movement has changed direction every other day in a wavering market. Can people not see this, or is it some psychological cue to sell that bypasses reason?
Finally Coinbase. Coinbase has been leading the pay your taxes charge , yet cannot on it’s base platform (many of us bought our first coins there , so please dont judge ) differentiate a sell from a withdrawal. This has made software testing difficult. Does anyone know if access helps clear things up? Correlate ACTUAL withdrawals with deposits on other exchanges?? Please comment below if you know or can point me in the right direction. I entered the game late , took losses , and I need a practical way to correlate this data.
Caveat Emptor.
Published at Thu, 29 Nov 2018 15:41:01 +0000
