Bitcoin Below $10,000 Again Is a Much Better Bet Than Trash Crypto Stocks

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Forget the handful of small publicly traded cryptocurrency miners and blockchain plays, whose recent rate dips might entice you. Your money is much better invested in bitcoin itself, since it’s still in rally mode in spite of a sub-$10,000 price tag.Even if you do not know the very first thing about cryptocurrencies, it’s been impossible to miss the rampaging rally in bitcoin so far in 2017. Given that the calendar turned to 2017, bitcoin is up 871 %as of this writing– though, at this rate, that number makes certain to change drastically before the end of November. Wednesday, bitcoin costs hit a new turning point, breaking through$11,000 briefly before dipping back to around the$9,700 level Wednesday afternoon.Compounding things, significant crypto exchanges Coinbase and Gemini both crashed on Wednesday, making it impossible for numerous bitcoin financiers to buy or sell the cryptocurrency.The question that makes certain to be asked is whether Wednesday’s dip in bitcoin costs is a purchasing opportunity– or whether it’s a last opportunity to

go out prior to bitcoin prices absolutely collapse.Likewise, there’s the question of crypto stocks.It’s not just bitcoin that’s taking advantage of its rally in 2017– the explosive advantage in bitcoin year-to-date has actually also driven interest in crypto-related stocks. Do those stocks make more sense than buying bitcoin itself?To answer both concerns, we’re relying on the charts for a technical appearance. Simply as it’s been tough to

miss news about bitcoin’s meteoric rally in 2017, it’s been impossible to miss out on the viewpoint that

bitcoin is a bubble. And that may even be real. The important things about bubbles, however, is that they hardly ever burst when the crowd consensus is that the asset remains in a bubble. In other words, bubbles burst when market participants don’t care whether the possession is in a bubble anymore.And that’s definitely not the case with bitcoin right now.The price action likewise gives some mean bitcoin’s rate trajectory as we round the corner to 2018: Regardless of the large scale of the bitcoin rally in 2017, the parabolic uptrend in bitcoin’s value has actually been exceptionally organized. In other words, while the uptrend has actually been speeding up, it’s been speeding up at a fairly constant speed.

The 50-day moving average has acted like a fairly decent proxy for the bottom of bitcoin’s parabolic uptrend year-to-date– that makes it a logical place for risk-averse crypto investors to park a protective stop below, as well as the area more aggressive investors should believe about adding to bitcoin positions.Simply put, bitcoin’s rally isn’t really revealing any signs of tiredness. A dip to the 50-day appear like a major buy signal in bitcoin.On the other hand, the very same can’t be stated of crypto stocks.From a relative strength perspective, practically every openly traded stock with bitcoin or cryptocurrency-focused is underperforming bitcoin in both short and long-lasting time frames. If you want to participate in the bitcoin rally this fall, it makes good sense to buy actual bitcoin, not some bad proxy that trades on the stock exchange.