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WEEK AHEAD: AUGUST 10

Short Description

Ethereum just hit 2 year highs, climbing back to $400 for a 200% year to date return! Is there more room to run or is the rally done? I discuss that as well as preview the economic calendar for this week. Thanks! Rich

Video Script

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Hi everyone, I’m previewing the IMPORTANT
things for TRADERS to watch this week

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Hi everyone, I’m previewing the IMPORTANT
things for TRADERS to watch this week

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This time I’m focusing on
Ethereum, which just hit a 2 year high.

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Before I get started,
did you know one of the

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most popular cryptocurrencies
started as a joke?

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Jackson Palmer, an
Australian programmer at Adobe

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Adobe tweeted the idea of a coin
based on the popular internet meme doge.

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If you haven’t seen it, the meme normally
involves a picture of a shiba Inu dog.

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But the idea morphed into
something more serious and

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today the coin exists with a
full community of developers.

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After starting as a joke,
Dogecoin now holds a

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philosophy of being
cheap and easy to transact

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-making it popular for online tipping.

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If you learnt something
interesting about Dogecoin

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please click the like button

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it really helps us spread
the word about these videos!

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So the economic calendar starts
off with inflation data from China,

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where consumer prices
are expected to slacken off,

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while producer price
deflation is predicted to ease.

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The German ZEW survey could
be one to watch for the euro.

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We’ve the RBNZ in action as the
major central bank decision of the week.

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I thought it telling to add the figures
for New Zealand visitor arrivals in June,

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which are down a crazy
98.4% from a year earlier!

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The first estimates for UK and
Eurozone Q2 GDP are out this week.

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Then retail sales data from
China and the United States

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States will be important
to get a flavour of the health

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of the consumer in the
world’s two biggest economies.

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So last week we were talking Bitcoin,

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where there is a lot of excitement
about the 60% price rise this year.

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But the second biggest crypto currency
by market cap - Ether - is up 200%!

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Ether is the coin behind Ethereum

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which is the name of the blockchain.

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And while we are talking price gains

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Ether is up 2,800% in 5-years,

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which compares well to an also very
healthy 1,600% price gain for Bitcoin.

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One metric I like to follow
is the Ether Bitcoin ratio

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- it’s how many Ether
you can get for one Bitcoin.

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It’s a similar concept
to the gold / silver ratio

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I discussed in my video
a couple of weeks ago.

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The ratio is now rising
after a long period of falling,

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suggesting a new period of
stronger momentum for Ether.

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The newfound optimism for Ether comes
with the initial launch of Ethereum 2.0,

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which was the first stage in a series of
updates that happened last Wednesday.

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Enthusiasts suggest
optimism about the full

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launch could continue
to drive the price higher.

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I’d say the standout thing the 2.0
update will address is security issues,

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which I think has held Ethereum
back from wider adoption

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More generally though, I’d look at
Ether as a leveraged play on Bitcoin.

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If a new bull market for
Bitcoin is taking shape,

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history suggests Ether could outperform,

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which on the flipside means
if the crypto market rolls over,

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Ether will likely suffer more

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so both higher risk and
opportunity for us as traders.

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Right thanks everyone

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good luck trading and make
sure to subscribe to our channel

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channel so you don’t miss the next video.
 

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