GMT20140703 12:23 Trend Analysis of Democurrency
It has moved sideways for 3 days. According to wave theory Bitcoin price will go up to $700, then decline to $650.
There are 60 bid in the FBI Bitcoin auction. If every bid order has 3000 coins, then the volume of buying orders is 180,000 coins. This volume could support new mining production in 50 days. So Bitcoin price can go up to $800, and a platform will be formed there.
I hope that new incremental fund come after price going up to $800.
The wallet number of Bitcoin in blockchain.info has been increasing evenly since last December and now it is 2,000,000. But Bitcoin price still does not rise. Quantity will finally turn into quality. When user wallet number increases to a critical value, then Bitcoins are not enough to share, and price will rise.
Divide 13,000,000 by 2,000,000, and you get 6.5. So the average Bitcoin per wallet is 6.5 coins, worth $4000. The average value per wallet is also $4000 before September in last year. The average Bitcoin per wallet is 10 coins in this May, worth $4000. But the average value per wallet is $18300 in the peak of last Nov. So the average value per wallet can evaluate the Bitcoin market trend. Now it is lowest, so price can rise continuously.
Please keep in mind that although Bitcoin price had risen 10 times since April in last year, the daily trading volume did not increase. The fact that Bitcoin users are becoming more and trading volume is not rising proves two things. The bad one is that the using of Bitcoin is not increasing with the number of Bitcoin-accepted shops. The good one is that new users buy and hold Bitcoin and this is beneficial to Bitcoin price.
Altcoin Index 1 is 5, down 1.3%. Altcoin Index 2 is 2.13, up 1.6%.
LTC rebounds in last night but declines then. Anyone who has 1,000,000 LTC contact me and I have a good idea to save it.
In my opinion LTC will go down to $5, and I will notify you to buy in if a big investor follows my advice.
DOGE and Darkcoin dive quickly. They have different reasons. DOGE is dangerous because LTC mining machines have been invented and somebody has major computing power. But Darkcoin market hype has come to an end and Darkcoin is on the way to a reasonable value.
PPC has increased greatly in these days. There is no opportunity because the locked chips in PPC are very heavy. If you want to buy a unique coin, it will be XPM, because its algorithm is different to HASH. Its price has increased by 20% in these days.
I will not recommend buying altcoins before Bitcoin creating a new high.