“Wealth is the ability to fully experience life.” -Henry David Thoreau
Alright, I can’t help but think of Ebenezer Scrooge with this quote. Think about it; he had all the wealth in the world, and yet it brought him absolutely no joy. Thoreau would say that Scrooge was not truly wealthy. And indeed he wasn’t if you consider wealth as the experiences in life that bring a smile to our face. If you have all the money in the world, but you sit in your golden chair and do nothing with it, then what is the point of having it? I had a speaker come into a business class of mine, and he stressed the importance of giving. He gave each one of us a brand new, crisp $100 bill (with college classes being over 40 he spent A LOT of money to make a point). He told us to keep $20, and give the rest away. That doing so would teach us what a true happiness it is to give money away, and the good fortune that will follow. Our goal in life shouldn’t be to “accrue wealth”, it should be to enjoy the journey, let the money be an added bonus 🙏🏻
🙏🏻 What are your thoughts on this? 🗨 Share your thoughts in the comment section 💬➖➖➖➖➖➖➖➖➖ ➖ ➖➖➖➖➖➖
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Ripple (XRP) Outperforms Crypto Markets as Price Stabilizes Above Historical Support;
Ripple has been able to once again find strong buying pressure in the upper-$0.20 region, which has historically been a region of strong support for the cryptocurrency. After touching this region, XRP climbed slightly higher, and is currently outperforming the markets.
Analysts are now torn on whether or not this price region marks a long-term floor that will allow the crypto to surge higher, or if it is simply a weakening support level that will ultimately lead to a significant drop lower.
Ripple (XRP) Plunges Over Past Few Weeks, But Nears a Critical Support Region
At the time of writing, Ripple is trading up nearly 2% at its current price of $0.32 and is currently outperforming the aggregated crypto markets.
Although XRP has been able to climb slightly today, its price action over a several week period has been incredibly bearish, as it has plummeted from its late-June highs of nearly $0.50 to its recent lows of just below $0.30.
This price action has closely mirrored that of Bitcoin’s, as BTC quickly surged to highs of $13,800 in late-June before subsequently plummeting to its recent lows of roughly $9,900.
Peter Brandt, a popular cryptocurrency analyst on Twitter, spoke about XRP’s price action a few days ago, explaining to his nearly 300k followers that Ripple could plummet as low as $0.16 if Bitcoin continues to face downwards pressure.
Is XRP Forming an Accumulation Base Around Current Prices?
Although it does seem as though Ripple is currently sitting on the edge of a precipice that could result in a serious drop, other analysts are noting that the price region that lies just below where it is currently trading at could mark a long-term accumulation base.
Credible Crypto, another popular analyst on Twitter, recently spoke about this possibility to his nearly 50k followers while replying to another analyst’s bearish assessment of the cryptocurrency.
Although it remains unclear as to whether or not XRP will closely follow Bitcoin’s price action in the near-future....
Posted at: 2019-07-16 15:19:42
Bitcoin Dominance Taps 70% in Recovery Rally, Are Altcoins Dead?
Bitcoin has made a bit of a recovery today in the wake of comments by US Treasury Secretary Steve Mnuchin. The 8 percent pump has left altcoins in the digital dust again as BTC market share knocks on the door of 70 percent.
Bitcoin Briefly Back at $11,000
This time yesterday Bitcoin was trading very close to $10k after falling below it briefly on Sunday. The king of crypto started to recover during US trading when it tapped $11,000 once again. There was no big dump from resistance and BTC has remained higher than Monday’s levels, trading at around $10,800 at the moment.
Long term trader ‘CryptoFibonacci’ has been eyeing the charts for possible areas of support and resistance and it is clear that just below $11k is one of them. The 50 day moving average is also key and this held during the big selloff over the past couple of days.
BTC Dominance High Is The Norm
Today’s 8 percent pump has lifted market dominance to 69.75% according to Tradingview.com. This equals the high in early December 2017 as Bitcoin was winding up to its big run up to ATH. The previous high was back in July 2017 when market share tapped 77.5%, and before then BTC was the only cryptocurrency.
Trader and Analyst Luke Martin has pointed out that a high Bitcoin dominance is the norm for crypto markets. For most of its history Bitcoin has dominated over 90% of the market, only in March 2017 did this start to change with the rise of Ethereum and other altcoins.
At the moment the altcoins are still on the floor, very few have made any effort at recovery from yesterday’s altcoin apocalypse. Total crypto market capitalization is $13 billion heavier today but that is nearly all Bitcoin’s doing.
Only Bitcoin’s two siblings, BCH and BSV are making any substantial moves today as the rival coins add around 10 percent each climbing to $310 and $130 respectively.
Posted at: 2019-07-16 15:15:10
Bitcoin Bears Start to Stir as BTC Falls Closer to $10k;
The US Treasury Secretary speech yesterday was largely considered as bullish for Bitcoin by those in the industry. BTC itself moved six percent back up to touch $11k but it has since slid back and is in danger of falling back to the crucial $10,000 level today.
Bitcoin Bears Awakening
Bitcoin’s gains over the past 24 hours are gradually being eroded again as the Asian trading session slips into the US, which is usually the more bearish. From an intraday high of just over $11,000, BTC has declined back to just below $10,500 at the time of writing. With a failure to break resistance further losses are looking likely.
Daily volume has fallen off marginally as the digital asset continues to make lower highs and lower lows. The head and shoulders pattern appears to be playing out though there has yet to be a sustained break of the neckline.
Analyst and trader, Josh Rager, has been eyeing the four hour chart noting that support has been broken twice with the next level at just below $10,200. “A quick drop in price over the last two candles with the area to watch as support at $10,191. On the 4 hour chart, as long as it closes above that level it will continue to make higher-lows and maintain a ranging pattern. Close below that area and it’s bearish.” $BTC Price Update
A quick drop in price over the last two candles with the area to watch as support at $10,191
On the 4 hour chart, as long as it closes above that level it will continue to make higher-lows and maintain a ranging pattern
Close below that area and it's bearish pic.twitter.com/IHwxb1SG4v — Josh Rager 📈 (@Josh_Rager) July 16, 2019
He followed up with a look at the longer term weekly chart observing that different time frames tell a different story. The weekly and month charts are showing that the buyers have become exhausted while further consolidation could be possible from patterns on shorter time frame charts. “Each time frame tells a different story. The 4hr & LTF shows consolidation (ranging) in a condensing pattern. While the daily chart shows lower-lows/lower-highs. •