As with all Anderson Reports, we will quickly overview both the favorite fundamentals, as well as the tasty technicals when it comes to the outlook of a coin with respect to the greater crypto markets. Let's jump right into it:
--The Fundamentals--
Dan Larimer, one of the founders and main creators of Steemit is also the visionary behind Bitshares which has continued to push local highs for the past two weeks making 600% gains in the beginning of this fresh altcoin bull run season. This isn't the top for Bitshares, but rather a fresh beginning and chance at another all time high and beyond.
Bitshares has a number of layers which make it useful for a wide variety of programming applications. It also has the speed and transaction capabilty to rival traditional fiat systems with over 100,000 transactions per second and 3 seconds to complete a transaction. These specifications are a vast improvement upon Bitcoin's currently slow and expensive transfers.
What really makes this coin shine is that a number of other coins exist to support commodity and fiat ties linked to the Bitshares platform which sports a decentralized exchange.
The best part is, many of these features have been around for years making Bitshares a sturdy tested store of value long term.
Lastly, Bitshares is a Microsoft Azure coin. This not only assures a stable platform, but only a select few coins like Ethereum and several others belong to this coveted club.
--The Technicals--
In the chart below, Bitshares made it above its Poloniex listing price of 15,000 satoshis last June just barely by hitting ~15,800 sats before sharply falling back into an extended pullback to below 1000 sats where all signals flashed buy:
After a deep pullback due to an extended Bitcoin bull run to ~$20,000, Bitshares touched $1.00, a new record high in terms of USD:
Below, the 4 hour chart is showing a double TK cross above the cloud, an incredibly bullish signal, essentially guaranteeing a run to around 10,000 over the coming weeks. Whichever side of 10k we pull back on will determine higher immediately or not.
Over the next few months as this current altcoin bull cycle unfolds, Bitshares could easily push for 25,000 satoshi's or $5, whichever comes first.
--Conclusions--
Hold on, this ride will continue up if you've already got your ticket. Many traders will be buying the dips as we go forward toward higher highs. Investors looking for a longer term investment may want to purchase in smaller amounts over a wider period. But whatever your style may be, 2018 will be a strong year for Bitshares.
Are you invested in Bitshares?
What Bitshares news are you most excited for?
Leave your answers in the comments below.
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