As you know, our whole report goes out each morning to clients and Free Trial subscribers berfore 7:00 am CT. Enjoy our Fundamnetals below. But please register for a Free Trial of 1 or all 5 of of our Blue Line Express daily commodity reports in order to get all of our great insight; Techinicals, Fundamenals, and proprietary Bias and Levels. E-mini S&P, Crude, Gold, Natural Gas and the 10-year.

If you are viewing on Barchart, the links may not work. Please copy and paste this in your browser: https://www.bluelinefutures.com/free-trial

The old saying goes, buy when theres blood in the streets, and thats what Im doing with the recent bitcoin price action.

Bitcoin traded to a low of $7,700, this level is a loss of 25 percent on the week and 40 percent on the year. That $7,700 low is ironic because it is the same level that it broke above and began a parabolic ascent in mid-November.

I am watching a key level at $8650 and a continued close above that level could signal immediate upside potential. The next level of resistance is $10,000, and a break back above that should bring further buying to the table, suggesting near-term upside to $14,500.

To view our original interview with CNBC please click this link.

https://www.bluelinefutures.com/single-post/2018/02/02/Bitcoin-Bottom-ripple-stellar-ethereum-neo-vechain

On the other side of the coin, I believe we are witnessing a market cap rebalancing. Many disregard Bitcoin but most do not disregard blockchain technology. While I expect Bitcoin to recover from this low, I believe that there are cheaper and better technologies within the complex that are positioned for stronger gains. The five that I am focused on are Ethereum, NEO, Ripple, Stellar and last but surely not least, VeChain. The crytpo currency market cap reached a height above $800 billion, a number that is now cut in half. Bitcoin's piece of this market cap has slowly shrunk and is now only one third. As buyers step back in I believe this trend will continue and I'm watching for these five to gain further ground.

While most are familiar with Ethereum, an open software platform on the blockchain that allows developers to build decentralized applications. Many are not familiar with NEO; a similar platform-based technology with a bigger focus on future demands. Ripple and Stellar have become staple names amongst investors and are faster and cheaper payment networks than Bitcoin. Additionally, they have all already attracted real world partnerships.

NEO was rebranded last June. Its original name was Antshares and through its successful rebranding to NEO, it now pays owners in a token called GAS as a dividend from income accumulated. NEO began its rebranding in the summer of 2017 and traded around $1. Within one month of completing its rebranding in September it traded to $30. NEO traded to a high of $180 and currently sits above $100.

VeChain (VEN), a technology that focuses on supply-chain management and specializes in authentication and verification technologies is rebranding this summer. It is built on the Ethereum platform and using blockchain technology it allows manufacturers to track and verify the components of a product through its lifecycle. Real world uses consist of tracking parts, produce, labor and payments. VeChain is already partnered with Price Water House Coopers, Healthcare Co and others. Its rebranding will split VEN into two tokens; VET and THOR. Investors will earn THOR as a dividend for every day that they own VET.

Of course, there is no guarantee that VeChains rebranding can play out as well as NEOs did. Regulations and ease of access remain a headwind for the industry as a whole. These have been a key driver in cutting the crypto currency market cap in half. However, just as we began, the old saying goes, buy when theres blood in the streets.

Sign up for 1 or all 5 of our Blue Line Express commodity reports!

Please do not hesitate to contact us with any questions on the markets, trading, or opening an account

Info@BlueLineFutures.com

312-278-0500

Follow us on Twitter:@BlueLineFutures

Follow us on Facebook:Blue Line Futures Facebook page

Subscribe to our YouTube channel:Blue Line Futures YouTube channel

These are opinions and investors must do their own due diligence. Investing in crypto currencies pose extreme risks and are not suitable for all investors.Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.