MARKET UPDATE 3/6/2018
As of this writing, I will be introducing scam alerts to sites or HIGH YIELD INVESTMENT PLATFORMS (HYIP) the most famous of which was Bitconnect.
www.coincontract dot biz
One of the newest HYIP platforms expected to pay out until about mid-April early-May.
(WTC/SELL) Despite today’s gains of 29%, right now would be a good time to short. Walton Coin’s “partnership” with Alibaba has been found to be a little bit exaggerated in the least. WTC has actually only registered through Alibaba cloud which technically anyone can do and become a “partner” of Alibaba cloud, a totally different move from partnering from Alibaba itself.
(BTC/HOLD) Plattsburgh, NY could be the first city in the state of New York to outright ban BTC/Crypto mining due to the rise in prices due to mining unfairly costing non-mining residents more money.
(BTC/SELL) The government of South Korea has banned Cryptocurrency holding or trading for all of its govt. officials.
(BTC/ALTS/HOLD) Young Dirty Bastard, son of late Wu-Tang Clan rapper Ol' Dirty Bastard, has announced the creation of his own crypto coin which he will be launching via an ICO. The coin is said to affect the music and entertainment industry.
(BTC/BUY) Wyoming’s own utility token passed a bill through the state senate which will now proceed to the governor's office where it is expected to be signed off on and made official.
(BTC/BUY) Paypal has filed for a patent in blockchain to help increase the speed of its crypto transactions.
*Former Bitconnect Schill, Trevon James has confirmed the FBI is currently in talks with him about the former HYIP Bitconnect scam which has recently gone under.
(CRYPTO/BUY) The Russian Finance Ministry is in the process of drafting a bill which would make illegal the replacement of fiat money with cryptocurrency.
(BCC/SELL) A lawsuit has been filed against Coinbase, the widely popular crypto exchange, for insider trading with BitcoinCash.
(CRYPTO/SELL) Twitter has recently banned the crypto exchange platform Kraken.com without ay clear explanation, only citing a general rules violation for the removal of its Twitter handle.
(TRX/BUY) Tron has been listed on CEX dot com as of March 6, 2018. This makes it the 55th exchange to list the asset.
Overall, the market is still in "baby bull mode", It has recovered slightly but is struggling to bring back the all-time high's we saw in January and December. It will take some time to bring strong buyer confidence back which in turn will result in a stampede of the bulls. Based on past trends we might not see the strong come back in March but might be forced to wait through April with another major drop in June or July. However, any new money being introduced is welcomed with slight gains so there is some positive to this. A good 12 move right now would be to trade back to BTC or BCH as they pull back from a 4% drop today. And as usual, trade only with confidence and at least a basic understanding of technical analysis.
Remember you can take what I say with a grain of salt as I am not a financial advisor.
Any questions can be directed to me on the following social media platforms:
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