Wednesday, 24 January 2018

My 3 Crypto Horse Race and Their Price Targets

In my yesterday's post The End of Crypto Correction and My 1st Ripple (XRP), i stated that the ongoing correction for Ripple (XRP) is over. The Bitcoin (BTC) and Ethereum (ETC) correction should be over within days because of their recent synchronized correction.

Indeed, i believe the corrections for both BTC and ETH are also over today. They're reinforcing each other. That's why i bought ETH this morning. If i was aggressive, i would enter the trade with the strong bounce off the support that occurred yesterday. I would like to see a follow through as well as a breakout from the downtrend line today (see chart). I'm impatient, but i can wait for 1 more day.

Now i've 3 digital coins and i can unleash them in a trifecta race, and see who will win the 1st, 2nd and 3rd position. I don't know much about horse race as i'm not a gambling man. Not in the race track or casino. I only bet in exchanges of all kinds; may they be stock, gold, futures or crypto. That's my casino. But that's not a casino of random chance, but a casino of human nature.

Ethereum price chart showing breakout and supports
(Click chart to enlarge)

I would love to see which of these 3 horses would win, say at the end of the year. The following horse race commentary should be read with a loud, very excited voice of a horse race commentator with spittle flying out of his mouth and veins bulging on his neck.

"Ripple was the 1st to leave the correction gate, but it stumbles at the gate. Ethereum bursts out of the correction gate, making a tremendous dash, overtaking Ripple. The all time favourite Bitcoin is coming up fast from behind..."

Horses at the starting gate
Ripple is starting at Gate number 6

My next price target for ETH is around $1,500.

For XRP, the next price target should be $3.6.

And finally, for BTC is $22,000.

Remember, you should treat these targets as ranges, not an exact numbers.

Warning: I may revise my targets without warning.

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