Article by Steven Aitchison. Steve first got into the crypto world in 2015 and started trading in 2017 and now wants everyone to know the benefits of crypto with his course and hidden gems newsletter at: Learn About Crypto and Trading and his weekly hidden gems CYT Crypto Monthly he also started his youtube channel 5 months ago at CYT Crypto.

This Week In The Crypto Market

Bitcoin has finally risen out and broke out of the $6,400 level to, as of writing, $6,617. Obviously it is way too early to say this is the start of a bull run, but it has been steadily rising over the last few weeks and it’s helping the market feel a little more positive about the future.

Top gainers of the week include:

PAY: 78%

MOAC: 35%

BAT: 24%

0x: 20%

KIN: 17%

POWR: 13%

Top losers of the week include:

VEN: -23%

NAS: -20%

BTCP: -19%

BNT: -19%

MCO: -19%

HSR: -14%

Top News Stories

The Great Cryptocurrency Propaganda Machine — The Banks Want Your Bitcoin — Beware!

We’ve been hearing stories all over the internet that Bitcoin is going down to $3,000, $2,000 even $1,500.

Did you ever stop to think about this and ask how on earth it could go down to that level. There are millions of more people around the world getting into cryptocurrencies, there are thousands of more youtube channels popping up about cryptos, there’s been huge leaps in blockchain technology that makes cryptos safer, faster and more secure, big names are endorsing cryptos.

Despite of all this positivity in the cryptosphere, there’s another group of people touting the the demise of the bitcoin valuation ‘In the short term’. Everybody who is on this side of the fence saying that Bitcoin is going to $3,000, $2,000 even $1,500 are ALL saying they believe it will go back up to over the previous all time highs of $20,000.

How on earth could they possibly know that it’s going to $1,500, supposedly technical analysis. I call a lot of BS on this. Technical Analysis is great for short term trading, but in the crypto world you can’t possibly go back a few years and base a future price on the previous few years as the Tech and the popularity has changed so much over that time.

Could it be that there is another agenda here? To get the Bitcoin price so low that it allows the banks, institutions and the rich to get into at a much cheaper price. Conspiracy theory? I don’t think so.

There are more and more stories coming out that there is a smear campaign going on right now against Bitcoin and cryptocurrencies in general. In fact, it’s been going on for months, but very few people are aware of this.

The popular Youtuber Vincent Briatore announced recently in a video that he had been offered a 6 figure sum to ‘discredit cryptocurrencies’. You might say that’s nothing and is an isolated case, but there are more and more people coming out to say exactly the same thing, and it’s been going on for months:

In February Polish banks paid five figure sums to advertise smear campaigns against Bitcoin in particular, they also allegedly paid prominent Polish Youtubers to discredit Bitcoin. (Source (Bitcoinist.com)

In a June article from Teeka Tiwari he speaks about a report from the BIS Bank of International Settlements, which is owned by 60 banks worldwide. The BIS article cites a case for the amount of energy used for crypto miners to mine Bitcoin, seemingly under the auspices of trying to save the planet. However Teeka does a great job by countering with:

“According to the same Forbes article, the three million ATMs deployed worldwide use the same amount of energy as the bitcoin network.”

“What about the resources needed to maintain the world’s one million bank branches? What about the resources used by the 60 million people hired by the global banking system?

According to a recent article on the tech blog Hacker Noon, when you account for the energy costs of the global banking infrastructure, the banking business uses three times more energy than the bitcoin network.” (Source: PalmBeachGroup.com

Another recent article in Palm Beach Group states that the biggest investors in the world are getting into crypto:

“Over the last 90 days, we’ve seen some of the biggest investors in the world flood into cryptos:

Wall Street investment bank Goldman Sachs announced that it would launch a crypto trading desk.

Susquehanna — the 12th-largest trading firm in the world by volume — announced it would start trading cryptos, too. The firm even went as far as creating its own custody company to hold its cryptos.

Billionaire investor George Soros — one of the world’s greatest moneymakers — gave the green light to his team to buy cryptos.

Coinbase — one of the world’s largest crypto exchanges — launched a crypto index fund for wealthy investors and institutions.

Financial services company State Street said it’s considering acting as a custodian for bitcoin. State Street has $2.7 trillion under management.

Wellington Capital — with over $1 trillion of assets under management — stated its intention to start trading bitcoin.

The Rockefeller family’s venture capital firm, Venrock, said it’s also buying cryptos.”

(Source: PalmBeachGroup)

I believe we are being suckered into getting out of the crypto market by the ‘big players’ and a smear campaign that is being played out in the worlds media.

Crypto is here to stay, will change the world, and supply and demand will dictate the price of Bitcoin and cryptocurrencies, however money talks and the richest people in the world want your bitcoin and are willing to spend money on you selling it to them.

There is so much more I could write about here and this is only the tip of the iceberg when it comes to the propaganda machine, but I think you get the gist of what i am saying here. The moral of all of this is — HODL Your Bitcoin!

Crypto Trading Tips

Some Top Tips From An Amazing Trader

This week I wanted to share the principles of trading from an amazing trader. This is from the book: How I Made $2 000 000 in the Stock Market from Nicolas Darvas.

Here are some great rpinciples:

His ten powerful principles:

He traded the long side aggressively, with individual stocks in bull markets.

He never traded the short side.

He set a stop loss on every trade at a price level that proved he was wrong.

He let his winners run as far as they would go without a target.

He used trailing stops to exit with profits on strong reversals.

Darvas avoided intra-day price noise; he didn’t even watch it during market hours.

He searched for stocks that were under accumulation with higher prices on increasing volume.

He based his decisions to buy new stocks, and move trailing stops, while the market was closed.

He traded price action and not his own opinions or predictions.

He only wanted to buy what was going up with momentum, consistently making new highs.

I think more than ever trading principles from the stock market can equally be applied to the crypto space. If you’ve never read the book I highly recommend it.

Some Cryptos You Might Want to Look at This week

AION — Looks good on the 6 hour chart for a bigger breakout

ARK — Looks good short term and long term

BCC — Could be due a big rise from here

BNB — Looking good for a short term/longer term rise

CLOAK — Looks good for a breakout

For more daily calls like the ones above please check out CYT Crypto Premium.

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