At first glance, it appears that ICP is trending higher.
However, if we look at the graph quoted in BTC instead of USDT, we notice that in reality the medium-term moving average (the blue line!) is decreasing, indicating that the values of the first graph are altered by the fluctuations of the BTC. 🤔
This is a great example of how you shouldn't rely too much on stablecoins in a dynamic market like the cryptocurrency market!
However I remain bullish on ICP in the medium to long term (days)
Starting from the left it is possible to retrace the various phases of the history of Bitcoin:
The first months of the launch are characterized by a rapid increase in price but supported by very low volumes. This is called CONSOLIDATION.
Then, consolidation become SPECULATION with price too much higher and people start sell, generating more volumes.
Subsequently we can see a long adjustment phase characterized by small price variations, but supported by trading volumes. This means that people began to trade Bitcoins at a fixed price, categorically refusing to sell them off or buy them at crazy prices.
However, in 2021 the price suddenly soared due to a new wave of SPECULATION, not supported by volumes. This means that people jumped on the "news" by buying and selling it at crazy prices, drawing very high candles on the chart.
In 2022 we can witness the "collapse" of Bitcoin, where people rush to buy it or get rid of it, generating very high trading volumes but with a relatively small change in price. This means that people have realized that Bitcoin has value, but they want to quickly recover the losses they have suffered or they want to hurry up and board the ship that is leaving.
Finally we can witness a short phase characterized by very low trading volumes, similar to those of 2018, but at a stable price again. This means that people have finally agreed on the price, and now those long 2022 candles are compressed into a few pixels on the chart. People have also stopped buying and selling without thinking driven by the desire to get rich quickly and without effort.
Now, however, in the last candle that begin this new phase of Bitcoin, it is possible to notice a new phenomenon that has never happened before: a significant price increase linked to a decline in trading volumes. This means that people have recognized the value of Bitcoin as an investment and do not want to get rid of it for any reason.
I seriously think that sooner or later I'll roll off the couch and break my head reading all these Ripple predictions. 🥲
The Ripple project was born in 2017, in the Litecoin and Dogecoin era, to overcome the cost problems and transaction speed limits of the blockchains of the time.
Thanks to its low costs, high transaction speed and its STABLE price (compared to Bitcoin) it was perfect for making purchases between users and in fact I myself successfully used it to purchase two graphics cards about 3 years ago.
It is basically the forerunner of a stablecoin, not exactly very stable but it was the best that the technology of the time could offer.
However, thinking that overnight this crypto-zombie can surge and make numbers is absolutely ridiculous, given that its price at issue in 2017 was $1 and after a brief surge due to speculation it is essentially stuck at $0.5 since 2019.
So if you notice that $XRP has done +2.5% it is only because $BTC has done +5%! 😁
If you have less than 1BTC you are a shrimp, or maybe plancton.
Personally i'm a missed crab, cuz i have mined thousands of Dogecoin in 2016 an sell all for 20~30$. 💸
Despite my long time experience, i keep lose money cause my impulsivity...
Let me explain the problem PRO don't tell you:
If you have 1000$ and lost 10%, you get 900$ at the end of the session. The next day you trade very well and get +10%, but at the end of the day you have only 900 + 90 = 990$! 😶
At the same manner, if you have 1000$ and go +10% you get 1100$ at the end of the day. The next day you loose 10% and get 1100 - 110 = 990$ again! 🥲
Now you know why you (and me!) are always loosing money. Probability. We cannot win against probability.
So, if you are not sure the price go up, just don't operate!🤗 Keep buy and wait...buy and wait...buy and wait...
This is how Bitcoin Whales were formed.
And remember: ALL crypto were built and exist only to farm Bitcoins more easily! 🦈