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2019: Which ICOs Are Now Thriving Firms? (Part 1 of 3)

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Writing about ICOs and cryptocurrencies, due to the fast-paced nature of the markets and how we can see literally insane levels of growth or depression, it’s easy to become solely focused on short-term strategies and probabilities.

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Just like every romantic encounter can produce a child who grows into a billionaire or a janitor, every ICO is creating a company or product which must now navigate its way into the world. In this three-part series, the author makes predictions on a few ICOs he believes will stand the test of time.

Often during this series, you will notice that the author is an active investor or participant in the thing he is writing about. We hope you keep this in mind when reviewing all forward-looking statements from the author, who is not a registered financial advisor nor wishes you to strictly follow his advice instead of your own intuition.

SONM

Looking at the SONM charts this morning, the author was surprised to learn it was trading at just about 8 cents each. Had to pick up a few, but not so many that he is locked into a position, or potentially misses out on cheaper buys in coming turbulence. Since purchase, price has risen about .0001 Eth, and it’s hard to see where it will go from here. Price is not the reason the author is mostly interested in SONM, however, at least not while it is in Alpha stage. The author thinks that long-term, SONM tokens will have an extremely high value for industry players that require them. Their model threatens the likes of Amazon AWS, Digital Ocean, and even Google Cloud Compute. As the author wrote in his initial analysis of SONM:

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These corporations are able to offer affordable rates through scaling. But what if the scale was market-driven, infinitely expandable and downsizable, and could be contributed to by most devices in the world? And what if you, the daily user, could sell your unused computing resources to a massive decentralized network in order to offset your broadband and other costs, or even to profit? That’s the idea behind the Supercomputer Organized by Network Mining (SONM): a global, decentralized, incentivized cluster of computing power, and one of a few promising plays in the distributed computing market.

The goal is to have around 100,000 SNM out of the total 444 billion. The author is still in the acquisition phase, so there is a profit-taking order placed at .001 Eth per SONM. In the event of a spike, a 400% return is acceptable, and the author can simply retain 25% of the tokens for later use. Because on the long scale, this is the sort of thing that will actually have value. SNM tokens may be trading cheaply now, but so were NEO shares not long ago.

Before SONM will start to snowball in value, it will need to launch an actual product. Their alpha launch is said to be a bit messy, requiring a Docker installation for miners, which is unusual but probably worth the excess hassle.

Disclaimer: This author has invested a small amount in SNM tokens. Do your own due diligence on any information received from Hacked.com.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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5 stars on average, based on 1 rated postsP. H. Madore has covered the cryptocurrency beat over the course of hundreds of articles for Hacked's sister site, CryptoCoinsNews, as well as some of her competitors. He is a major contributing developer to the Woodcoin project, and has made technical contributions on a number of other cryptocurrency projects. In spare time, he recently began a more personalized, weekly newsletter at http://ico.phm.link




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9 Comments

9 Comments

  1. Erikbigelow

    August 16, 2017 at 10:17 pm

    They just gotta beat Siacoin who has a big head start, but Siacoin needs better marketing. Looking forward to the rest of this series.

    • NoHomeJerome

      August 16, 2017 at 10:29 pm

      Actually, if I understand correctly, Siacoin is for storage, while SONM is for computing power, so they are not competing with each other.

      • Erikbigelow

        August 16, 2017 at 11:25 pm

        Doh! I meant Golem. Although siacoin kinda has the same issue.

  2. ekencu

    August 16, 2017 at 11:41 pm

    444 million, not billion!
    Regards.

  3. godishere

    August 17, 2017 at 5:34 am

    that’s it? Dude write more posts, this frequency is not enough for the subscription.

    • sweetroll

      August 17, 2017 at 8:00 am

      11 articles published today…

  4. JBGregory

    August 17, 2017 at 9:31 am

    Which exchange are you using to buy the coin?

  5. bens

    August 18, 2017 at 4:16 am

    if we didnt make the ICO do you recommend picking some up now while it is still cheap? if so where / which exchange can we buy?

  6. harrybrar77

    August 18, 2017 at 4:29 am

    I think Somn will do good. Golem doesn’t even alpha out yet.

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Analysis

Daily Analysis: Oil Extends Rally as Nasdaq Leads Stocks Higher

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Friday Market Recap

Asset Current Value Daily Change
S&P 500 2749 1.38%
DAX 12,483 0.18%
WTI Crude Oil 63.58 1.29%
GOLD 1330.00 -0.16%
Bitcoin 10,14 -0.09%
EUR/USD 1.2295 -0.28%

US equities built up some bullish momentum towards the end of the week, ignoring the technical damage that the volatility-crash caused, and the major US indices rallied into the close today, squeezing the shorts. The Nasdaq, which led the rally as we expected, took out the key 6850 level in late trading and added another percent to, incredibly enough, finish only a hundred point of the all-time high.

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NASDAQ 100 Futures, 4-Hour Chart Analysis

Should the tech benchmark retest the high next week, it will be amid very strong negative divergences, but hey, those divergences have been building for months now. The rally in equities was boosted by the dip in Treasury yields, especially at the long end of the curve, while Amazon continued ot lead the charge, closing right at the historic $1500 per share level.

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Russell 2000 (Small Cap) Index, 4-Hour Chart Analysis

The advance in the Dow and the S&P 500 is much less convincing and with small caps also lagging the tech-behemoth juggernaut, we remain skeptical regarding the sustainability of the move. That said, if the broader indices stay above the key levels, we will be trading the long side in equities, even as from an investment standpoint, valuations are still way above acceptable.

Forex Markets and Commodities

The lackluster performance of European and Asian stocks adds to the negative divergences, especially as the Euro stopped appreciating against the Greenback, and that should be helping stocks of the old continent. Of course, the DAX and the EuroStoxx 50 could play catch-up next week, barring another surge in the common currency.

EUR/USD, 4-Hour Chart Analysis

The most-traded forex pair remains in a short-term downtrend, as it failed to recapture the previously broken rising trendline, and the commodity related risk-on currencies also remained under pressure. The Canadian Dollar did bounce back off yesterday’s 8-week lows, boosted by the much hihger than expected inflation release and the jump in the price of crude oil.

USD/CAD, 4-Hour Chart Analysis

Oil benefited from the positive shift in sentiment, while the Syrian situation, which took a backseat in the headlines, still supports the rally. The Japanese Yen and gold were stable amid the risk-rally and that adds to our suspicions regarding the upside potential form these levels.

Cryptocurrencies

The segment started out the day with a strong bounce that carried the major coins higher by around 10%, but given the recent steep short-term pullback, even that wasn’t enough to turn the tide, and the day ended with an (almost usual) sell-off after the US close. Despite the recent volatility, the overall picture is still encouraging, with most of the majors being safely above the crash lows, likely in a new bullish cycle that has the potential to last for several more weeks or even months.

While new all-time highs are it guaranteed following the 60-70% declines among the largest coins, but even without those, plenty of upside potential is left for investors. With that in mind, investors should hold on to their coins and even add to their holdings on the short-term dips like the current one.

ETH/USD, 4-Hour Chart Analysis

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Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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Analysis

Technical Analysis: Majors Stage Rally but Strong Levels Still Ahead

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The cryptocurrency segment has recovered from a broad correction today in early trading, with the most valuable coins all turning into green during the session, despite the bearish start to the overnight session. With bottom-to-top gains of up to 15%, the rally helped in easing the worries of bulls, especially in the case of the relatively weaker coins.

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Bitcoin and most of the largest altcoins remained stable during the selloff, and BTC recaptured the $10,000 level quickly after trading as low as $9600 overnight. The initial rally topped out near $10,400, and the coin is trading back near the $10,000 level, as the bullish momentum faded away somewhat.

BTC/USD, 4-Hour Chart Analysis

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That said, we expect the uptrend to continue even if the correction could still carry Bitcoin lower. Further strong support is found between $9000 and $9200, while targets are ahead at $11,300, $13,000, and $14,250.

ETH/USD, 4-Hour Chart Analysis

Ethereum showed strength during the bounce again after yesterday, together with the early leaders of the rally, and although the coin dipped below the $845 level in the second half of the session, the signs remain positive for bulls. Support levels are now found at $780, $740, $625 and $575, while resistance is ahead near $910 and $1000.

(more…)

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.7 stars on average, based on 115 rated postsTrader and financial analyst, with 10 years of experience in the field. An expert in technical analysis and risk management, but also an avid practitioner of value investment and passive strategies, with a passion towards anything that is connected to the market.




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Analysis

Pre-Market: Stocks Refuse to Fall Even as China Takes Over Key Insurer

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Although it should have been a very quiet week in China, thanks to the New Year celebrations, the recent surge in volatility and the plunge in equities didn’t pass without consequences in the key market. Just shortly after effectively shutting down the Chinese version of the Volatility Index (VIX) (presumably to calm the markets…), one of the main actors of the monstrous financial web, Anbang, of the country had to be taken over to avoid a systemic event and stop the “creative” financial engineering that involved criminal activity (the shadow of 2008).

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China will likely need many more duck-tapes like this one if it wants to stop the largest credit bubble in human history to collapse, but for now, the solution could work. Equity futures edged higher since yesterday’s volatile close, and as the major US indices are holding up well, not far off last Friday’s highs, our bearish short-term view might have to be revised.

Nasdaq 100 Futures, 4-Hour Chart Analysis

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As we discussed before, the long-term uptrend is intact, and we expect at least a re-test of the highs even if we are in a large-scale top formation, but we thought that the technical damage caused by the crash three weeks ago would require more healing.

We are not turning bullish just yet, but today’s session could finally decide if we the BTFD-crowd is strong enough to turn the tide after the choppy drift lower this week. We are still focusing on the Nasdaq, as the broader market seems to be following the lead of the tech benchmark, and a move 6850 (in the Nasdaq 100 futures, and still the 2735 level in the S&P) would be a very positive sign for bulls.

DAX Index, 4-Hour Chart Analysis

The German DAX index is also showing some tentative short-term relative strength although it remains almost 10% below its all-time high, and it remains a strong negative divergence to be monitored.

Forex Markets Quiet

EUR/USD, 4-Hour Chart Analysis

The main pairs are trading in a choppy narrow range today after the strong move in the Yen and the drop in the USD yesterday. US Treasury Yields are edging lower today, helping the calm in equities and currencies, but on a bearish note, commodity currencies failed to rebound so far, and they were providing good signals since the crash. Day-traders should note that the Canadian Dollar will likely be very active again, with the Canadian CPI report coming out pre-market.

To sum the outlook up, we are still leaning on the risk-off side here regarding the short-term outlook, but we wouldn’t bet the farm on that, as there are mixed signals before the weekend.

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Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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