Trades this week
This week was a bear market for the entire cryptomarket as the whole marketcap reduced from high of USD343bn (Mar 25) to low of USD251bn (Mar 30) which stay within my prediction range for this week. My predicted trading range for next week is between USD200bn to USD300bn
Current ether price is USD380 and current bitcoin prices broke below USD7,000. During this week, I bought some Ether at USD435 and USD456 level. Average of USD445 for 10 ether.
Of which more than half has been spent to purchase WANchain (ave cost price of : USD3.3) and ARK (Ave cost price of USD2.3). The remaining ether is queued to purchase even more of these coins in event these altcoins dropped further
Downward trend for Ether is a good time to stock up altcoins
The bearish trend for ether is intact. This week,I would adopt a wait and see approach but I have placed some orders in event marketcap reduced to USD200bn which may possibly see ethereum reaching USD300 and BTC reaching USD6,000; which I feel are long term attractive prices.
However, as mentioned due to my bearish view on ether, I would prefer to convert them to other altcoins once order is entered. For now, ether would remain an interim coin for me to purchase more altcoins.
I do not see the bear market moving back into bull market. However, this may be a good time to buy in on the bargain. Brace for the bear market and position your portfolio for the next bull market.