When smaller is better

Thursday, 21 December 2017
Melbourne, Australia
By Bernd Struben

  • Did you buy any bitcoin cash?
  • This is how fast the crypto market moves
  • An important note from our customer service team

Have you been tuning into Jason McIntosh’s ‘Trade Secrets’ training series?

Each day this week we’re releasing a new instalment in Jason’s free five-part informational sessions.

The trading tips Jason shares in these videos are normally reserved for paid subscribers to his premium service, Quant Trader.

But in the lead-up to the Christmas holidays, Jason and publisher Kris Sayce decided to make them available to all of our paying readers…like you…for free.

In today’s video — the four in the series — Jason shows you how to overcome the paralysing fear of losing money to make potentially market-busting gains. And he gives you a four-step pre-trade checklist to beat back fear before it stops you in your tracks.

You can check out today’s video by clicking here.

Each video stands on its own. But I recommend viewing them in order. If you missed any of the first three, don’t worry. You’ll find them all under this same link. Just scroll down.

Now to the markets.

Markets

Overnight, the Dow Jones Industrial Average closed down 28.10 points, or 0.11%.

The S&P 500 fell 2.22 points, or 0.08%.

In Europe, the Euro Stoxx 50 index finished down 29.57 points, or 0.83%. Meanwhile, the FTSE 100 lost 0.25%, and Germany’s DAX fell 146.62 points, or 1.11%.

In Asian markets, Japan’s Nikkei 225 index is down 6.11 points, or 0.03%. And China’s CSI 300 is up 0.97%.

In Australia, the S&P/ASX 200 is down 12.52 points, or 0.21%.

On the commodities markets, West Texas Intermediate crude oil is US$58.05 per barrel. Brent crude is US$64.56 per barrel.

Gold is trading for US$1,266.64 (AU$1,651.21) per troy ounce. Silver is US$16.20 (AU$21.12) per troy ounce.

One bitcoin is worth US$16,650.92.

The Aussie dollar is worth 76.71 US cents.

Did you buy any bitcoin cash?

To say that things move quickly in the crypto market is stating the blindingly obvious. So we’ll let the facts speak for themselves.

After falling to a low of US$15,580 on Wednesday, bitcoin is currently back up to US$16,650.92. That’s about a 7% rebound in less than a day.

Bitcoin cash, on the other hand, saw its price double in that same time.

If you read Tuesday’s Port Phillip Insider, that shouldn’t come as a complete surprise to you.

Here’s what I wrote on Tuesday:

Longer-term bitcoin does face some big hurdles. Not just from anxious governments looking to stem their loss of financial control. But from the myriad of crypto competitors.

Bitcoincash is one to keep an eye on. It “forked” from the bitcoin blockchain on 1 August this year…

On 1 August bitcoincash traded for US$281. Today it’s up to US$2,196. A handy 681% gain.

Part of the appeal of bitcoincash is its faster transaction speeds…and lower transaction costs. As more people pile into bitcoin, the transaction costs are rising. And it can take several hours to complete a transaction.

At time of writing one bitcoin cash (sounds funny, I know) is trading for US$3,542. That’s down from a peak of US$4,059 overnight. Yet it’s still up more than 61% since I penned the above on Tuesday. And it’s up 1,160% since its fork from bitcoin on 1 August.

You can see the blistering pace of the recent price action in the seven-day chart below:



chart image

Source: World Coin Index
Click to enlarge


Now, I didn’t put my money where my mouth — or keyboard — is. Much to my wife’s dismay. But hopefully you bought a little bitcoin cash before it rocketed higher.

Something for the virtual Christmas stocking.

This is how fast the crypto market moves

It’s not just bitcoin cash that’s enjoyed a big price rise since Cboe Global Markets and CME Group commenced futures trading on their exchanges.

Have a look at the following chart. As you can see Verge — admittedly, I never heard of this one before today — leapt almost 1,100% over the past week.



chart image

Source: CoinMarketCap/Bloomberg
Click to enlarge


As Bloomberg reports:

Bitcoin’s smaller cousins are outpacing the largest cryptocurrency’s gains since major U.S. exchanges started offering futures.

The biggest gainers among digital assets with at least $1 billion of market capitalization in the past seven days are so-called alternative coins Verge, Tron, Qtum and Cardano, soaring at least 300 percent. Despite some wild price swings, bitcoin’s price is mostly flat since Cboe Group Markets Inc. and CME Group Inc. made the derivatives available in the past two weeks.’

This is why our in-house crypto experts, Sam Volkering and Ryan Dinse, recommend a diversified crypto portfolio.

Just as you wouldn’t put all of your stock market investments into one stock (or sector), you shouldn’t put all your crypto investments into any single digital token.

Over at their entry-level service, Sam Volkering’s Secret Crypto Network, Sam and Ryan currently recommend nine different cryptos.

I showed you a screenshot of the performance results as at 13 December in Monday’s Port Phillip Insider.

Below I’ve pasted the results from yesterday, 20 December, next to the results from a week earlier — the chart I showed you on Monday. (Yes, I know, I’ll never get offered a job in graphic design!)

Keep in mind that all of these recommendations were made since Secret Crypto Network launched in July this year. The most recent tip was on 29 November. So we’re not talking long-term buy-and-hold gains here…by any means.



chart image

Source: Secret Crypto Network
Click to enlarge


I obviously can’t reveal which coins we’re looking at. (If you want to know that, all is revealed here.)

But I will tell you that the top row is bitcoin. And those gains are since 5 July this year.

Take a moment to study the above chart. Look at the gains from 13 December in the left-hand column. Now compare them to the gains one week later, 20 December, in the right-hand column.

What do you notice?

That’s right. With the exception of one token, which remained unchanged, every single crypto — even bitcoin — gained over those seven days.

The one crypto that was in the negative last week, at -14.6%, bounced back to return 13.25%.

The other laggard that had returned a meagre 4.83% last week rocketed up to 91.72% gains.

You can see the other phenomenal price growth yourself.

As I said, things move fast in this market.

If you haven’t gotten aboard yet, you can get all the details straight from Sam Volkering and Ryan Dinse. Just go here.

An important note from our customer service team

If you’ve been trying to call our customer service team you’ve likely received a voice recording.

At this time of year, the customer service department receives a very high volume of phone calls and emails. And with a large number of new subscribers coming on board over the past few weeks, that volume is even higher than normal.

Couple that with a few staff members on holiday leave…and you can see their dilemma.

In order to ensure that they are able to adequately address everyone’s queries, please email the customer service team rather than calling. They are currently busily working through the emails. So please be patient.

It may take a day or two for them to reply to your email…but they will!

You can email the support team at cs@portphillippublishing.com.au.

And don’t forget to check out the latest unfiltered political news…

In today’s Australian Tribune: ‘Trump Ramps Up Pressure on UN Jerusalem Vote

In the world of business, money talks.

And US President Donald Trump is confident the same holds true in the world of global politics.

In 2017 the US spent approximately US$50 billion (AU$65 billion) on foreign aid. But under the new administration, there are more strings attached to that aid than some nations have grown accustomed to.

Trump has threatened to cut off financial aid to countries that vote in favour of a draft United Nations resolution against his decision to recognise Jerusalem as Israel’s capital…’

The Australian Tribune is Port Phillip Publishing’s new, politically-oriented newsletter and website.

If you’re fed up with reading sanitised, politically-correct dogma cut and pasted from one mainstream source to another then The Australian Tribune is for you.

And it’s absolutely free.

Sign up here to get The Australian Tribune delivered free to your inbox five days per week.

Or visit our website at https://www.theaustraliantribune.com.au/ to read the complete article above and all the latest, uncensored political news from around the world.

Happy holidays!

This is my last Port Phillip Insider of the year. You’ll hear from Kris Sayce tomorrow.

Over the holiday break we’ll bring you a special series of Money Morning Trader from our expert chartist, Terence Duffy. Be sure to check your inbox. You’ll be amazed what a chart can tell you.

I’ll be back with you in on 2 January 2018. Until then, I wish you a Merry Christmas and a happy New Year.

Cheers,
Bernd