ethereum Archives - FaithMightFX

October 26, 2022October 26, 2022

Loss in NFT Value Might Just Be Short-Term

Non-Fungible Token, NFT for shorts, is a unique digital identifier that cannot be copied, substituted, or subdivided, recorded in a blockchain, and used to certify authenticity and ownership. The ownership of an NFT is recorded in the blockchain and can be transferred by the owner, allowing NFTs to be sold and traded. NFTs can be created by anybody and require few or no coding skills to create. The Non-Fungible Token (NFT) market nosedived from its peak of $17 billion in early 2022 to $470 million in September 2022. That is about 97% drop in value. This data was compiled by Dune Analytics, a blockchain analytics firm.

The growth of NFT between 2020 and 2021 cannot be overlooked as the market grew by 21,000%. i.e. from $82million to more than $17 billion. Ethereum is one of the commonly used blockchain networks to trade NFTs. In the next few years as crypto assets appreciate, there will be increment in the value of NFTs and the $17billion value might be surpassed as a result of the next crypto rally.

Some of these ideas are in our clients’ portfolios. To understand if this one can work for you or for help to invest your own wealth, talk to our advisors at FM Capital Group. Would you like more information on how to get crypto and Nfts in your portfolio? Schedule a meeting with us here

June 20, 2022June 20, 2022

Crypto Bulls To Resume Activities

In one of our articles written in Q4 2021 when the price of Bitcoin was at $58,229 and Ethereum at $4,200, we talked about price of Bitcoin to fall to $29,000. On the 10th of May, 2022, Bitcoin reached $29000, which was spot on. Many of the bulls have been liquidated due to the recent price fall. With the price fall of Bitcoin to $20,000, the gap up in December 2020 and January 2021 has been filled.

Our forecast currently shows crypto bulls are about to resume activities, as we might be seeing a rally in the coming weeks. Price of Bitcoin might be back to $48,000 and Ethereum to $3,500. This could be a sign of relief for investors after crypto has lost $1.1trillion in market capitalization in the last 80 days, the fastest and largest known loss in its history. Buying Bitcoin $48,000 and buying Ethereum above $3500 might be a bull trap. We might be seeing Bitcoin at a 4-digit value and Ethereum at a 2-digit value after prices reach $48,000. Are investors prepared to see price of Bitcoin at $4,000 and Ethereum at $90? Time will tell.

Yes, the market is about to favour the bulls, as a strong support is reached at $20,000 for bitcoin and Ethereum at $1,000. RSI on the weekly chart shows price has been oversold. There are some dojis formed in May and the first week in June, which is a sign of price reversal. Currently we still have price in the lower region of the Bollinger bands, as price is consolidating.

Some of these ideas are in our clients’ portfolios. To understand if this one can work for you or for help to invest your own wealth, talk to our advisors at FM Capital Group. Would you like more information on how to get cryptocurrencies in your portfolio? Schedule a meeting with us here

May 6, 2022May 9, 2022

UNCHARTED Podcast: Episode 4

CRYPTOCURRENCY: An overview of the Crypto market

CRYPTOCURRENCY: Analysis of Bitcoin & Ethereum

In this podcast episode, we did a general review of markets. First, we extensively discussed Cryptocurrencies. We looked into Bitcoin and Ethereum and the recent stagnation. We also did a forecast of the direction that these major Cryptos may move in the coming months. We touched on Solana and the impact Bitcoin has on all cryptocurrencies. Here’s a forecast on Bitcoin we made some months back.

CURRENCIES: The Impressive Run of the US Dollar and how Risk-Aversion is contributing to it

CURRENCIES: Depreciation of world currencies and their reliance on the USD

CURRENCIES: US Dollar as a Safe Haven, GBPUSD, & NZDUSD

CURRENCIES: Possible causes for USD rise and Inflation

CURRENCIES: US Economic Strength and quarter-over-quarter GDP growth

CURRENCIES: Recession Fears & USDJPY

We also took a dive into the world of Currencies, specifically the United States Dollar. The Dollar has been dominating the world of currencies. Despite inflation rates being sky high, the Dollar seems to be doing relatively well when compared with other major currencies. We also discussed the Central Banks and their reactions to the inflation their respective countries face.

COMMODITIES: An overview of Gold & Silver

COMMODITIES: USD vs Gold, which is the Safe Haven of Choice?

We closed this episode on Commodities. During times of crisis, it is expected that people will hedge their funds in Precious Metals but this isn’t what we are seeing. Investors are hedging their funds in USD and investors from emerging markets also see USD as a safe haven as opposed to Gold and Silver.

Some of these ideas are in our clients’ portfolios. To understand if this one can work for you or for help to invest your own wealth, talk to our advisors at FM Capital Group. Would you like more information on how to get stocks in your portfolio? Schedule a meeting with us here.

June 1, 2021June 1, 2021

THE NEXT CRYPTO BULL RUN: BITCOIN AND ETHEREUM

Since Bitcoin was launched in 2009, price has maintained a strong bullish movement with about 410,000% gain, from $0.09 in 2009 to its current price at $36,700. The current $BTC market capitalization stands at $678Billion. Ethereum, on the other hand, is the second largest crypto with current market capitalization at $299Billion after its launch in 2015.

This signifies that most crypto assets are less than a decade. Ethereum has since its inception has been publicly accepted by Crypto traders and investors. Hence, the reason for the bullish movement. Just like other markets, the crypto market is a bull and bear market. High leverage usage must have wiped off some accounts due to greed. Currently, the crypto market is about $1.62Trillion with Bitcoin and Ethereum having over 61% of the market share. There are other thousands of cryptos newly introduced e.g. Ripple, Dash, Tether, Litecoin, Cardano etc. all of these make up the remaining 39% share of the crypto market.

Bitcoin, in June 2020, was below $10,000. As at today, Bitcoin is above $36,000. Ethereum in June 2020 was below $300, the price of Ethereum today stands at $2,600. In the last one year, Ethereum has done far better than Bitcoin in investment gains. Both Bitcoin and Ethereum reached an all-time high in 2021. Ethereum reached $4,370 in may 2021 and Bitcoin reached $63,000 in March 2021. With Bitcoin and Ethereum having 61% of the total crypto market, they both have a major influence in the price movement of other coins. The increased acceptability of Bitcoin and Ethereum will determine the acceptability of other coins.

After the all time high was reached in March 2021 at $63,000, price was almost halved after it reached $31,200.

About $30,000 was wiped out in the price of Bitcoin last month, which made it the worst month in Bitcoin history with 41% lost from the highest price. Bitcoin has a very strong resistance at $43,980, a bullish breakout from this level might result in a fake out as price on the weekly chart is currently in the lower region of the Bollinger bands. The recent dip affected most of the assets in the Crypto market. Price of $BTC might rally towards $44,000, but the bears might push the price lower to reach $19,000. If a dip occurs, this will reflect in the prices of other cryptos. The next dip might also push price of Ethereum to $1,500.

January 17, 2018August 28, 2018

New Year, New Markets

Happy new year! It is 2018 and the only market that doesn’t sleep now is the cryptocurrency market. This is a brand new market being created right before our very eyes. What a time to be alive! No matter the asset or investment vehicle, human nature still reigns supreme. And in a pure market where human nature reigns (and not algos), technical analysis works so beautifully. But if you trade based on the news, you’ve been in for a wild ride. While the king of cryptos is Bitcoin ($BTC.X), 2017 saw an explosion in blockchain innovation that allowed many other coins to be created by just about anybody. This explosion in coins led to an explosion in wealth creation as buyers and sellers raced to the markets. Traders, investors and techies from the West to Zimbabwe have been making money in cryptos and everybody wants in.

Seeing the frenzy for information, I decided to host my first investment event, “What is Bitcoin, Anyway”. I rescheduled this event 3 times since September. I was originally going to talk about the importance of investing. (*yawn*) I forgot to order food. I also forgot to send out invitations. It was my first event! I was concentrating so hard on getting the talk and presentation right that the event production went right out the window. LOL oh well. Thankfully, my office is in a WeWork so the venue hid my blunders well. I had a good audience and the presentation was so well received that I was asked to do another.

Yes, I will have another crypto event despite the crash in cryptocurrencies right now all across the board. While I understand the hesitancy in buying cryptos, I also think it is irresponsible to write off any investment opportunity due to ignorance. However, it is also irresponsible to invest, in a market this new and still unregulated, alone or naive. Do as much learning as you can. Read, watch and ask questions. Hire an investment adviser. Get a mentor. Every investment story is the same, so always do your homework — trade what you see, not what you hear.

And stay tuned for my next event, First Friday Pasadena. February is the #crypto edition?

January 16, 2018August 28, 2018

Is It Really A Bloodbath?

Cryptos are finally making news today and not because of the a 3,000% move in a few weeks. No, every digital coin and token is down today and down BIG. It’s blood in the streets now that Jamie Dimon has repented for ever calling Bitcoin a fraud. Markets can be so ironic sometimes that it is poetic. Warren Buffet has to be grinning from ear to ear as he said it was going to end very badly anyway. He must also be buying but that’s a musing for another day.

Well, thankfully, I don’t trade off the news. You’d be in a pickle right now as to what to do with all those coins and tokens you bought yourself for Christmas. Confess now. We all bought some. The smartest of us only sold and even then, we sold too early.

The Fibonacci levels will tell you something different on different charts. So I’ll zero in on ethereum because ether is the only coin falling right now from all-time highs. Many of the alternative coins, the forked coins and Bitcoin itself have been consolidating lower since the 2nd week of January 2018. With the euphoric year that 2017 was for cryptocurrencies, you have to love the narrative already shaping for what 2018 will be. But looking at this chart, is it really a bloodbath yet?