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Investment Recommendations April 27th

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Oil: Short-Term Sell (Update)

 

WTI Crude Oil Futures, 4-Hour Chart Analysis

The quick dip lower below crucial support today, following the failed rally above the $50 level yesterday, justifies the lowering of the initial stop-loss level. Yesterday’s highs serve as an optimal resistance just above $50 for the new level.

The re-test of the $47.10 is increasingly likely, as the bearish momentum remains strong. A possible break below the $47 level could open up the road to the crucial $44 support, as the growing US production numbers, and the questionable OPEC-cut extension continues to weigh heavily on the commodity.

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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4.6 stars on average, based on 292 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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Ox (ZRX) Receives Boost From Korean Markets – 79% Weekly Growth

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Ox (ZRX) is currently riding the crest of a wave which has carried it to a three week high, and a token value of $1.04. That adds up to more than 79% gains since June 29th, when one ZRX token was worth $0.58.

Today’s movements show a 22% growth, most of which came in the last 14 hours alone. The markets have just begun to turn upwards, so we might be seeing Ox grow even more in the next few hours. Don’t be surprised if it pushes 30% growth for the day and tickles the undergrowth of $1.10.

A price of $1.16 would represent 100% gains over three weeks, but that may be out of reach for the time being. The price has since begun to even out in the high $0.98s, but things move quickly in the crypto world and the next 24 hours will tell its own tale.

The Korean Touch

Ox was recently listed on the Bithumb exchange, opening it up to the South Korean market. The ZRX token was already trading against the South Korean Won (KRW) on the Upbit exchange, however the volume recorded there pales in comparison to Bithumb.

Bithumb is responsible for 31% of the daily ZRX trades, all of which has been against South Korean Won. That volume amounts to almost $7 million at the time of writing, out of the total daily volume of just under $22 million.

Bitcoin trades aren’t far behind, with ZRX/BTC trades making up 28% of the daily volume on Binance alone. At the start of the day, BTC trades made up the majority of the volume, but those were soon eclipsed by the sudden surge of trades coming from South Korea.

McAfee’s Predictions

The outspoken and controversial John McAfee threw out a scattering of predictions at the beginning of June, and while they haven’t come to fruition just yet, it seems that at least one of them might be on the way.

McAfee predicted that QuantStamp (QSP) would hit $0.50 by August. He declared that ClearPoll (POLL) would hit $2.40 in the same time frame; and he pointed to August 1st as the date when Ox would reach $2.90.

Such predictions are good for grabbing headlines and not much else, but looking at the growth of Ox in the past week there is an outside chance given the 79% growth over the last five days.

Ox’s movements over the past day have pushed it ahead of Aeternity into the 27th spot in market cap rankings. Lisk is still some way ahead and has just started to spike as LSK coins attempt to push past $1.90. Just ahead of Lisk is Zilliqa, which has grown over 10% for the day and continues its recent run of upward spurts.

Featured image courtesy of Shutterstock. 

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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4.4 stars on average, based on 23 rated postsGreg Thomson is a full-time crypto writer and digital nomad. He eats ICOs for breakfast and bleeds altcoins. Wherever he lays his public key is his home.




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D-Day is Coming!

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Hi Everyone,

As you may know, every month we’re doing a special webcast for all platinum clients in eToro to go over the upcoming events and best market opportunities.

Due to popular demand, we’ve decided to open up the webcast on a quarterly basis for everyone to participate. Tomorrow will be the perfect timing for this “all-access” webcast, just ahead of D-Day, which is scheduled for this Friday. (More on this below)

To join in, please register now at: http://etoro.tw/WebcastJuly2018

See you there!

@MatiGreenspan
eToro, Senior Market Analyst

Today’s Highlights

  • China is Exposed
  • India Crypto Ban
  • Is NEO Killing Ethereum?

Please note: All data, figures & graphs are valid as of July 4th. All trading carries risk. Only risk capital you can afford to lose.

Traditional Markets

We’d like to wish a very happy Independence Day to all of our colleagues and clients in the United States.

Please note that many assets will be closed for trading today at various hours. Feel free to check the market hours page for the specific markets you’re trading.

With that in mind, we’re likely to experience diminished volumes across the board especially in the afternoon.

Stocks are down this morning in Asia and Europe, clearly not taking advantage of the US holiday. The China50 index is down nearly 1% today as

In a Hong Kong interview, JPM’s Jing Ulrich pointed out that due to the tight credit and property markets in China, it’s not just trade that’s on the line come this Friday, which she referred to as “D-Day.”

Between the China trade decision and the American Jobs numbers, this Friday could prove very eventful indeed.

Ulrich also pointed out the weakness in the Chinese Yuan, something we’ve been watching closely as well. As we can see here, the US Dollar has given back some ground in the last 48 hours (last two candles) but remains stronger than average (blue line = 200 DMA).

Judging by the reactions in the stock market it does seem like the US has the upper hand in these negotiations. Here we can see the Dow Jones (white line) Vs the China50 (green) since the beginning of the year.

Still, China does have another card that they have so far been reluctant to play. At the moment, China is holding approximately $1.19 trillion worth of US bonds, which is about 19% of America’s foreign debt.

So far these assets have been considered off-limits in these negotiations as any sudden debt dump by China would likely hurt both economies. However, should things continue to escalate at the current pace, it wouldn’t surprise me if Xi Jinping started hinting at such a move.

Crypto in India

Yesterday we had a rather sour update on the outlook for crypto in India.

As we know, India’s central bank (RBI) has imposed a ban on cryptocurrencies that is set to be enforced this Friday, D-Day.

The event yesterday was an early hearing that was requested by crypto-companies to try and stop the ban from taking place and, unfortunately, the courts rejected the motion by upholding the ban for now.

The reason that the RBI gave in court was rather contradictory though….

By this same argument, they would need to rule out all forms of digital money, which India has been relying on since Modi’s government got rid of 86% of the bank notes in 2016.

In any case, this update doesn’t seem to have affected the market too much. The full-length hearing is still set for July 20th. This isn’t over yet!

NEO Kicking Ethereum

As investors wait patiently for the next upgrade to the Ethereum network, some may be losing patience.

The upgrade known as Casper is supposed to be brilliant and will reportedly include things like PoS and sharding, which will make the network much more scalable. However, even though Ethereum founders Vitalik Beterin and Joseph Lubin have indicated that the upgrade will happen soon, we still have no official release date.

In the meantime, the network is showing serious signs of congestion and many transactions are being delayed.

In this chart, we can see the four biggest platforms that are competing to be the number one network for decentralized apps.

As we mentioned yesterday, NEO is flying lately and that move has carried through this morning in a big way.

There are two big headlines that could be contributing to the surge…

The first is that NEO seems to be taking their first steps towards decentralizing the network.

For our customers in China, here is the update that NEO posted on their Twitter feed yesterday.

In a separate update, a landmark ruling in China indicated a rather favorable position towards digital assets.

Though we know that ICOs have been illegal in China since September 2017, blockchain technology seems to be finding more favor in the country lately. As NEO is the number one blockchain in China, this could provide a strong narrative for its development and usage there.

Wishing you an amazing day ahead!

This content is provided for information and educational purposes only and should not be considered to be investment advice or recommendation.

The outlook presented is a personal opinion of the analyst and does not represent an official position of eToro.

Past performance is not an indication of future results. All trading involves risk; only risk capital you are prepared to lose.

Cryptocurrencies can widely fluctuate in prices and are not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework.

Best regards,
Mati Greenspan
Senior Market Analyst

Connect with me on….

eToro: @MatiGreenspan | Twitter: @MatiGreenspan | LinkedIn: MatiGreenspan | Facebook:MatiGreenspan

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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Altcoins

Crypto Real Estate: The Time Is Now

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If you’re a Russian oligarch, an Asian billionaire or just a simple kid from South Jersey with giant aspirations, it is time for action in the newly emerging world of crypto real estate.  Here is why.

For the average home buyer the price of a home has increased about 1.72% annually over the past 10 years.  That is just slightly more than the 1.49% rate for the U.S. economy. Things have changed somewhat in recent time and we read Case Shiller numbers placing the rate between 5%-7%.

For investors in bitcoin, the action is taking place elsewhere in the real estate world.  It is in the world of the super high-end real estate where BTC and other cryptos can play a role.

If your soul contains an ounce of cynicism, at this point,  you are probably saying what is new about the connection between crypto and real estate?  The answer is arbitrage. Never have high-end property prices been so high and crypto prices so low.  It would be a classic arbitrage to sell high-end real estate and buy bitcoin.

Natural Buyers For Bitcoin

There are plenty of statistics on housing and loads of public records revealing who owns a given piece of property.  The US government claims that 9.6 million Americans own second homes and perhaps 16% own investment property.

But when it comes to the true high-end market, global real estate is definitely in the billions. For example, take penthouse in 432 Park Ave in New York that, when new, sold for over $100 million in cash and you get the idea.  This is a market where anonymity is prized and protected. This has long represented the “no brainer” for bitcoin to gain acceptance. And best of all, it is perfectly legal medium of exchange.

Enter Propy (PRO)

Here is a company that appears to be positioned to take advantage of transactions in the global ultra high-end real estate market. Before getting started, one thing needs to be disclosed.  I neither own or am being compensated for writing about Propy. I stumbled across the name purely by accident.

Propy.com fancies itself as being dedicated to solving the complexities of purchasing property across borders.  They claim to be the world’s first international marketplace. The PRO token is built on the Ethereum ERC20 standard. Propy raised $15.4 million with their ICO last September which places a value on the company of roundly $100 million.

So PRO may not rank with the likes of Telegram but they are not exactly chopped liver either. With the spread between the price of ultra high-end real estate and bitcoin never having been greater and the perpetual need for anonymity, the team at PRO may find itself in a sweet spot no matter if the like it or not.

The First Crypto Test In Rome On June 28

CCN.com reports that PRO has managed to team up with the Hilton family-owned real estate broker Hilton & Hyland in an auction of a Roman villa named the Palazetto Mansion aiming to snatch $38 million in dollars or crypto from the buyer.  This is not first effort of its kind but it is by far the largest.

Arbitrage In The Air

Events in Rome on June 28 will be most interesting as much for bitcoin as for PRO.  This is not to say that bitcoin is the only crypto in the world, just the largest and best known. Nevertheless, the total value of bitcoin is now just a little over $114 billion so every billion of future real estate transactions will make a difference at these levels.

Perhaps this is all wishful thinking on the part of someone who owns neither PRO nor BTC but several things are obvious.  First, those folks that put their hidden billions in real estate using corporate identities are not casual investors but savvy players with lots of high priced advisors.  Arbitrage spreads between ultra high end real estate and crypto present a pretty irresistible attraction. Just something to consider when investor psychology toward crypto in general stinks.  

Featured image courtesy of Shutterstock. 

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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4.4 stars on average, based on 87 rated postsJames Waggoner is a veteran Wall Street analyst and hedge fund manager who has spent the past few years researching the fintech possibilities of cryptocurrencies. He has a special passion for writing about the future of crypto.




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