Hello everyone! Welcome to my first post on Steemit! My name is JC and I, mostly, plan to use this account to share my own research on cryptocurrencies.
My first contribution has been inspired by the recent recovery that we have seen in the price of Bitcoin. This recovery made me wonder how likely it is to see the price of Bitcoin increase day after day. So, by analyzing daily data from coinmarketcap.com in the period April 2013-February 2018, I obtained the results that I summarize in the following chart:
This chart says that, out of all of the episodes in which the price of Bitcoin has increased, on average the price increase has been sustained for 2.2 days before have seen a drop in price. Also, continued price increases that last at least four days have occurred fewer than 10% of the times. What about continued decreases in its price? Good question! The following chart shows the other side of the coin; that is the frequency with which continued decreases in the price of Bitcoin have occurred in the past.
As can be seen, continued downtrends in the price of Bitcoin tend to have a shorter life than rallies. Good news, right?
Now, based on all of this, what do I recommend that traders do? Straight answer: Nothing. This is not financial advice, and I am not a financial advisor. I am just sharing something I thought was interesting.
So, I was just about to finish the post, but given that this is my first one, I guess I’d also share some background about me.
My real name is Juan Carlos , but just call me JC. I currently live in Madrid, Spain and English is not my native language, so please excuse any errors. I am a PhD in Economics and I joined the cryptocurrencies world in September 2017, so I am a total newbie. In addition to trading cryptocurrencies, I enjoy fitness lifestyles, so I may (or may not) make a future post about fitness…
Please let me know if you have think the type of analysis in this post is useful, and what other things you would like me to analyze or post. Thank you all very much!
Next stop $100,000!!!
Welcome to steemit @jcletics I hope you'll be successful in terms of cryptocurrency as well as here. =)
Thank you very much @purepinay! Cheers!
Welcome to steemit JC
Thank you very much!
nice first post after 4 months of silence lol
Yeah, lol. I created the account, but didn't do anything with it until now. I regret it!
Welcome Back jc Steemit family missed you
Thanks so much!
Welcome to steemit!!
glad to have you here stay stunned...
You can follow my blog @hrishikeshmatre
Thank you!
Yes, this is definitely useful. My favorite technical analyses for cryptos are the ones that appear obvious, but only once someone distills them. Keep up the good posts!
Thank you very much! I'll try to keep posting useful stuff!
Very good and useful post. The cryptocurrency world is amazing, I hope steemdollars go up.
Thank you! I'll try to keep posting useful stuff.
Good post
Thank you. Glad you liked it!
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Great post! You just got a 12.86% upvote from @edensgarden!
Thanks for tasting the eden!
You got a 1.68% upvote from @postpromoter courtesy of @jcletics!
Want to promote your posts too? Check out the Steem Bot Tracker website for more info. If you would like to support the development of @postpromoter and the bot tracker please vote for @yabapmatt for witness!
Thank you jcletics for making a transfer to me for an upvote of 1.23% on this post!
Half of your bid goes to @budgets which funds growth projects for Steem like our top 25 posts on Steem!
The other half helps holders of Steem power earn about 60% APR on a delegation to me!
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STOPWelcome my friend, I hope you give me one follow, I'm already following you.... Good luck in future
Thank you for following me. I'm following you back.
welcome to this community ...
welcome to this community ...
Welcome to Steemit! You got a new follower! :)