Happy Green Wednesday! Cryptos are up!

Per my normal morning routine I checked out coinmarketcap.com and was pleased to see every single one of the top 40 cryptos in terms of market cap are GREEN! (at the time of this post)

STEEM seems to be consolidating between (roughly) $4 and $4.50 and may be ready for another move up...who knows how high. It could also go lower but my opinion is in the short term we will see higher prices.

I won't go into vivid detail about why I think this is happening but I think today could mark a turning point from the ugly but necessary red days and weeks we've seen in January after the stunning December rally.

Here's what's happening that I think might be the cause of this and the prelude to the start of a new rally

• FUD regarding regulation is being recognized for what it is by more and more people
• Panic selling subsiding and coins are now in stronger hands
• Wall street types who've gotten bonuses potentially starting to invest because they see what's coming
• In the U.S., "official" ratings by a a supposedly non-biased and independent ratings agency to come out today...maybe some insiders know the results already and that's why some coins have dropped much less than others this month? (speculation on my part)
• Some people in the U.S. starting to get tax refund money and investing it in cryptos (I'll do my taxes at the last minute this year just like last year because those bastards in Congress and at the IRS make it more complicated for me every year and this year is no different)

Regardless of the cause, I am thankful to see the crypto market has somewhat stabilized for the moment. We all know that could change in an instant if some government official from a large country utters the word "fraud" or "bubble" or "regulation" or "ban", but I think more people are becoming immune to the news cycle and seeing it for what it is, a buying opportunity when we see pullbacks like this.

I'll be curious to see what the ratings agency comes out with in terms of how they rate each crypto. I mean are they going to read every white paper word for word much less understand the implications of it? Do they even have the knowledge to provide semi accurate ratings for the coins that they're analyzing? If you want to read up on it here's a good starting point (I'm sure some of you have already seen this before but some probably have not).

https://bitcoinschannel.com/u-s-rating-agency-to-issue-bitcoin-and-cryptocurrency-grades-wednesday/

Something tells me that Ripple is going to get a really good rating, and I don't say that because I think it's the best out there or particularly like it a whole lot. I own some and have profited tremendously from it but we know it's the banks' baby and the big banks get what the big banks want. They own the U.S. government for God's sakes...

As for the rest, it'll be interesting to see how they're rated. I've spent the last few weeks pouring every single dollar I can afford to into cryptos that have pulled back significantly and diversifying my portfolio which is up to about 20 types of coin.

STEEM is still my #1 holding as far as cash value goes and it will stay that way.

So I won't spoil it and say put on your rally caps just yet, but it is nice to see green across the boards for a change.

Have a great day all!

Disclaimer: This is not investment advice and I am not an investment advisor or professional. Never trade or invest based on the words of some guy on the internet and always do your own research before you buy and if you don't want to do your own research at least consult a financial advisor. Also, never invest more than you can afford to lose because you could lose a whole lot of it as we've seen in the past 3 weeks.