Episode Highlights:
- 00:29 – Advice You Will Receive In This Video
- 01:48 – Is It Too Late To Buy Iota
- 02:56 – How Long Should I Hold Iota
- 03:47 – The Dip Of Iota
- 05:31 – When To Buy Iota
- 05:59 – How To Profit On The Decline Profit
- 06:50 – How Should I Trade Iota Now
- 07:51 – Where To Buy Iota
- 08:59 – What Iota Wallet Should I Use
- 09:43 – Iota Today
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Transcription:
Hey what’s up guys? It’s Dan again from cryptocamacho.com here to talk with the intangible coins we call crypto currency. You can’t feel them, you can’t touch them, you can’t taste, you can’t them in your pocket, you can’t put them in your wallet but damn it feels good in your virtual wallet. You can’t put them actual paper wallet, like I have right here, can I put a bitcoin in here, no I can’t. But they do sure feel good to put them in a fake wallet on the Internet.
00:29 – Advice You Will Receive In This Video
Hey guys how is everybody doing? Today I want to talk about Iota, give a recap of what is actually taking place in the last week. In the last few days I you it has been crazy. We’ve gone on a very very wild ride and let’s just get into it right now. So today I want to talk about the review. I want to review and do a postmortem of Iota and what actually took place in the last few days. There’s been a lot that has happened, it’s been a very very wild ride. As you can see we’ve gone all the way from, let’s just say $1.45 all the way up to the top, the top was about $5.60. So we’ve seen an increase of about 300% approximately. I am basing it off of December 2, so in the last four days, we see in about a 300% increase which you guys have all really taken part of and seen and congratulations to those of you that got in really early on and made a lot of money. Congrats to those who watch my previous videos and saw this kinda coming, saw the writing on the wall for this one, very very happy with my returns. Really really happy with what has happened.
01:48 – Is It Too Late To Buy Iota
Today I want to talk about the dip and I want to talk about what exactly happened. But first I want to address some questions that I keep getting about Iota. In the comments on these videos, I keep getting should I buy Iotas, is it too late to buy Iotas, should I getting now, is it too late, is it too late to buy at four dollars, is it too late about five dollars and the Frank answer I have is that I don’t really know. The way look at it is like this, if I was a day trader or position trader I would not get in at five dollars, that’s a suicide. If I’m looking to make a quick buck, if I’m looking to buy and sell within a few day period or a few hour period I would not get in at the top. I would not get in anywhere over five dollars because it is bound to fall, it is bound to drop until that. It’s not going to go up forever. And the fact that it was going up so so much it’s a no-brainer. You don’t buy when it is at the very top if you’re trying to make a quick buck. There’s an argument to that that people could have said the top was at $3.50 and he went all the way up; that’s true but your risk outweighs the benefits. And this is an atypical rise. This does not happen very often and so I would trade it with caution and that’s exactly what I did.
02:56 – How Long Should I Hold Iota
And so people are asking if I’m a long-term investor, if I’m going to hold it for a couple of years is it still okay to get in at five dollars. In my answer to that would be yes, that is totally fine to get in anywhere at these levels right now. Because if everything goes the way that Microsoft hopes and everything goes the way that Iota hopes it goes, in here in a two years’ time period we are going to see the price point that many times higher than five dollars. So yes I would get in. If you’re going to hold it for a year or two and your banking that the technology is viable and your banking that the pilot that Microsoft and proof of concept that they are drawing out is going to work and be a success, then yes I think there is a huge amount of potential for Iota.
Then if you are a day trader or a position trader you have to think of short-term versus long-term and what you would do and how you would pay those bases.
03:47 – The Dip Of Iota
So now let’s look at the dip. I warned in many many comments in my YouTube videos, I warned many many times that there was going to be a dip, that a deep was going to happen, anywhere within the $5 range. I said it and I hope many of you picked up on that and were watching for that because that’s exactly what happened. So we see that once we got the $5.56 or $5.60 we dipped, we tanked all the way back down right here. We tanked all the way back to $3.50 which is a pretty big tank, that’s a pretty big drop and anybody can see that. But if you were to be paying attention to this and watch the dip, you could have actually made some money here because we see one time it dipped right here and that was the base we saw. It actually dipped right here and that was the base, that was a base, that was a base, this is another base, these are really the stronger bases right here that I would look at. Let me zoom in here so this makes sense to you guys. These are the stronger bases that I would look at. You could’ve bought right here and you would have been fine. You have made your money back right here, you could have made that money really at any of these bases and be totally fine. And that is what I keep telling you guys, watch the bases, watch the bases of support. Where things drop and then go back up that signifies their support, their support is at $3.50. Again, that magical number, and even $3.50 their support. People bought. Okay, it is up to $3.50, it’s going to bounce and it did. It drove the price up. The majority of people said I need to get in at $3.50, this is a low point, I am going to bank and bet that I’m going to make money and it is going to go up. Enough people did that and it went up and this happens every single time there is a base.
05:31 – When To Buy Iota
So the next time that the price falls below $3.50 would be a very very good opportunity to buy. Whether or not you buy at $3.50 is up for debate, it usually goes a little bit lower than the base as you can see right here, it went a little bit lower the next time. It doesn’t always happen but it does often happen. And so if you were to watch this base and this was the base you were watching, you had all this room right here to buy. And those of you that did bur you’ve already made your money back and you made more.
05:59 – How To Profit On The Decline Profit
So this is what I have been trying to teach you guys, trying to tell you how to approach this. But this is what I’m trying to teach you around these bases when they happen, you can still profit on the decline because they bounce up. You just have to be careful that the drop and the dip is deep enough and that you invest at the right time. And the way to do that is to look at previous bases that have already happened because it’s the same audience looking at the same charts, making the same investments. New people come on but people are looking and everybody has the similar psychology of when to buy and sell and it is very emotionally based. So when it gets too low people are saying I am going to get in and when he gets too high, people are saying that I’m going to profit and I’m going to sell. And this is why the price goes up and down.
So anyway, I just wanted to give you that quick review on Iota about the strengths going up, about the dip going down.
06:50 – How Should I Trade Iota Now
What is going to happen from here, not quite sure. At this point, I would trade Iota as any other crypto currency. I don’t think there’s anything special about Iota at this point today only because the news broke that Microsoft is doing a pilot and other Fortune 500 companies are doing a pilot with Iota, with the company. I think an update would be coming in the middle of this month or maybe the end of the year but I would watch for the updates on that particular pilot, on that particular pilot with Microsoft and other Fortune 500 companies. I would watch that very closely and depending on how that goes it will determine what the price would be in the next couple of months. Watch very closely. I would like to give updates on that. I’m in it for the long haul so I am trying to document it as many Iota coins as I can. I have bought and sold a few times but I’m trying to avoid as much as I can because I do believe that the price is going to go up in the long-term meaning six months or more. I do believe there’s going to be a lot of potential here so keep that in mind.
07:51 – Where To Buy Iota
Hopefully guys found this useful, is there any other questions? I’m getting a lot of questions about where do I buy Iota. There are really two places where you can buy Iota and two places only. The first place is on finance and that is the one that I have been recommending. I have enjoyed finance, I would do a review on it quickly or soon here so you guys can see it. Very straightforward to use, I haven’t had any problems with them, funding my wallets have been fine, transferring money from coin base or other wallets have been fine. The only issue I ran into with finance was when they were down. There was a big run up on Iota and finance was down for about a half an hour or an hour and it did frustrate me quite a bit because I was trying to buy and sell in that period of time and I just couldn’t get in all the time so that was definitely frustrating.
The second place to buy it is on bitfinex.I don’t use bitfinex anymore because they don’t allow US users anymore. I did have a bitfinex account. I used it for quite a while and I actually liked bitfinex but they don’t allow US citizens anymore to use the exchange. So I don’t use that one and I don’t recommend it because of that. If that changes I may reconsider but that’s another option you have. But yeah, that’s really about it and I keep getting questions of where can I buy Iota and really it is from finance or bitfinex. Those are the main two options.
08:59 – What Iota Wallet Should I Use
I also get questions of what Iota wallet should I use? There really aren’t too many options right now. You can use Iota wanted that is on the Iota.org website. It’s crappy, I’m not going to lie, it’s not the best wallet out there but that will improve with time. I keep my coins on a cross between the exchange and within the Iota wallet. Maybe I would do a tutorial on the Iota wallet at some point in time. If you have limited options. If you have a significant amount of money in Iota it is that it is something to be cautious of especially if you are leading on the exchange, I would definitely get that Iota wanted working. But if you have a small amount of money, I wouldn’t worry about it too much because the idea that somebody’s going to going and have your wallet and steal $100 is just not that feasible. They’re looking for big accounts with thousands of dollars or more.
09:43 – Iota Today
But anyway this is Iota today, let’s see where Iota goes tomorrow. It’s been a very fun ride with you guys. It’s been very fun and engaging with you guys in the community. Loving all the comments, you guys are teaching me a ton especially the folks that are putting in some valuable comments that are necessary and talking about the mathematics, talking about the analysis, talking about the supply and demand of it all, about IOT. I love that stuff. I’ve been working on that stuff for a while. So keep it coming guys.
Again, I am Dan from cryptocamacho.com. Hopefully you guys found this useful. If you have not subscribed yet click on that little red button right down there to subscribe. I’ll give you daily updates on crypto currency and I will teach you how to make a lot more money in crypto currency to come. We’re at the ground floor, the sky’s the limit, I’m not saying that as a cliché. I’m saying that because mass adoption has not even happened yet. The people that are watching this are the innovators, they are not even the early adopters yet. We’re still in the innovators phase. The next phase is the early adopters that is when it’s meant to start trickling in mainstream which it is barely starting now. It’s going to continue, the early adopters and that is going to be a massive surge when that happens for all alt coins, all bitcoin, all crypto currencies. Don’t get me wrong some of the alt coins are garbage and they’re going to go down but a lot of them are going to go up like Iota. I am Dan and hopefully you guys enjoyed this. I’ll see you next time.
