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Trade Recommendation: Bitcoin Cash

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The price passes through the cloud. ADX line of DMI indicator rises and it tells us about possible strong price movement. We have trading opportunity. Buy orders can be placed above the high of the signal candle and the downtrend line at 1503.00 level. Stop orders must be placed below the local swing low at 1120.00 level. Profit targets are 2000.00 and 2400.00 levels. If you don’t use leverage, trading volume for this trade is up to 10% from your deposit.

Market: BCCUSDT
Buy: 1503.00
Stop: 1120.00
Profit Targets: 2000.00 and 2400.00

The trading signal is based on Bittrex chart.
Disclaimer: The analyst does not have investments in Bitcoin Cash.

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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3.3 stars on average, based on 44 rated postsDmitriy Lavrov is a professional trader, technical analyst and money manager with 10 years trading experience. The main covered markets are Forex, Commodity, Cryptocurrency. Provides personal education for those who are interested in profitable trading. Entries in TOP 10 among TradingView authors.




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3 Comments

3 Comments

  1. ctsnrcn

    December 12, 2017 at 2:09 pm

    I guess there is a mistake as BitCoin Cash is BCH, it is mentioned in the article as BCC (Market: BCCUSDT) Is it wrong?

  2. BlackOwl77

    December 12, 2017 at 3:48 pm

    Yes he surely meant BCHUSD

    • willremgmt

      December 12, 2017 at 4:51 pm

      bitcoin cash is BCC on bittrex, BCH on other exhcanges

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Cryptocurrencies

Why Investors Should Pay Attention to Decred

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Bitcoin has massive potential as an investment, there’s no denying it. Anything with the goal of becoming a global currency has the ability to be an option to replace “all the money” in the world and gain a similar market capitalization.

But at the same time, Bitcoin has its problems. Having been released in 2009, there has been plenty of time for some of its weaknesses to be exposed. One of the largest weaknesses is with how it is governed, but there are several more. This is why Decred was developed.

Free of Third Party Influence

As an autonomous coin, there have naturally been many questions with how Bitcoin is governed and what the best way to continue advancement in the area is. This is to be expected, but there are also many things about Bitcoin to be envied, such as the fixed supply, fungible coins, and diehard community that surrounds it.

The founders of Decred were Bitcion developers in teh beginning, but they saw issues with the protocol. In their analysis of the coin, they identified 3 main issues: governance, funding, and security.

The governance issue is to do with stakeholders. The way Bitcoin is designed, miners are decision makers. This doesn’t mean they will always act in accordance with what is best for token holders though.

Additionally, the method of funding development is uncertain, to say the least. Incentives need to be in place to get developers dedicated to teh long-term prosperity of the proejct, and right now, that just isn’t happening.

Finally, security is in question due to the vulnerability to 51% attacks from miners. All of these issues essentially come down to planning a way to align the incentives of miners with those of tokenholders.

New Solutions to Old Problems

Upon proposing their solutions, these developers were essentially excommunicated, which led them to start Decred in 2013.

One of the main innovations of Decred was the Proof of Work/Proof of Stake hybrid they invented in order to solve teh governance issues. Additionally, the algorithm was designed to pay 10% of block rewards to developers from the very beginning.

And as for security, with the new POW/POS protocol in place, potential attackers would need both the majority of hashpower and the majority of tokens. This makes it far too costly for any entity to ever attack Decred without ruining themselves in the process.

Governance Issues Create Opportunity

Governance has always been an issue in question with a protocol whose original reaosn for being designed was to move away from the centralized model of doing business that led us into so many financial crises. Decred is designed to start aligning the incentives of all stakeholders, and still holds true to many of the original promises of Bitcoin (its maximum supply is even the same at 21 million).

The DCR token is currently trading around 0.006 BTC and is ranked 25th in market capitalization ($312 million). This is a relative low for the coin and it may be worth picking up a small position as a minor hedge against Bitcoin.

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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Cryptocurrencies

Why Investors Should be Paying Attention to Substratum

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Decentralization has become one of the key buzzwords surrounding the blockchain craze, but sometimes people forget the main reason decentralization is important: control. Right now, studies show that Amazon controls 40% of cloud services and Netflix controls 15% of the world’s Internet traffic. This is borderline insane, especially when you consider how all of these companies are native to the United States.

Similarly, a need for privacy exists, and with the growing NSA and CIA threat of being spied upon at home, as well as any foreign agencies, it would be useful to be able to have control of your own Internet services.

Substratum to the Rescue

Would you give computing resources to help make the internet a better space, and get paid along the way? Substratum is betting on the idea that people would be keen to participate in this market, and have been building a company that is able to facilitate it.

They ran their ICO in August 2017, with the goal of raising the funds necessary to create a market for hosting services.

Their proprietary token, SUB, is used as payment for serving requests. Network members are compensated with microtransaction for hosting sites, databases, and applications.

On a longer time horizon, Substratum aims to help maintain net neutrality, which has become a consistent topic of discussion in the tech world as of late. Their services will focus on privacy and security (by using encryption) to provide superior hosting services in the beginning and then expand to other services like decentralized storage and service of content, as well as development tools for the new “decentralized web”.

The End Mission

The end mission of a company like Substratum is to create a decentralized version of the web that doesn’t have any of the setbacks that results from many of the  oligopolies currently in effect. Net neutrality has become a major topic of argument in the last few years, and finding new ways to avoid anti-competitive practices is absolutely essential as we move into the next phase of mankind’s technological development.

We can all imagine how this would affect the western world, but the promise carries even more importance when you look at more restricted parts of the world, like China or Vietnam. The firewalls currently in place may be circumvented without needing Tor or a VPN.

Substratum has the ability to solve a lot of the current issues regarding censorship resistance. There have been occasional threats or suspensions of service by hosting platforms when they deem something to be “outside their terms of service”, but this is a slippery slope that can be mitigated by having a platform like Substratum. The main difference is that nodes are fully encrypted so they can’t even tell what they are hosting.

A Profitable Opportunity

Whenever a coin hits an all-time low, that makes for a great buying opportunity. Substratum has been hit recent lows, and this makes for a great trade. You may either wish to get in around 0.00001-0.00002 BTC and sell off when you break 0.00005, or you can turn this into a longer-term trade. It really depends on your risk appetite at this moment in time.

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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Altcoins

Cardano Price Analysis: ADA/USDT Smashes Out of Wedge, but Saved by Critical Demand Zone

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  • ADA/USDT testing a huge area of demand and a breach by the bears could be catastrophic.
  • Cardano Foundation confirm reshuffle, as Michael Parsons, the former chairman, steps down.

ADA/USDT has continued to be victim of downside pressure after its latest bull run. The price had gained a chunky 20%, between 31st October and 6th November. ADA/USDT managed to peak just above $0.08200 territory. This was the highest level seen since 15th October. Shortly after, gradual selling started to take place, to then see all the gains plus much more taken by the heavy bears.  It appears current bull runs are not sustainable, very much vulnerable to being sold- particularly as these tend to happen in an explosive manner within a short time frame.

Cardano News Flow

Cardano this week made an announcement that Michael Parsons, the former chairman, has resigned from his position at the Cardano Foundation. Prior to this rapid departure, there had been much history of community members demanding for him to be removed. The position will be filled by the Council Member Pascal Schmid, a University of St. Gallen graduate and a financial expert. Cardano’s creator, Charles Hoskinson, accused the foundation and Parsons of neglecting their duties, in addition to bringing in close friends and family into top positions within the organization.

Technical Review – ADA/USDT

ADA/USDT daily chart

ADA/USDT is running at three consecutive sessions in the red- a move which is inline with the broader market, a mass cooling across all major cryptocurrencies. The price was forced to drop a hefty 13% in the late part of the session on Wednesday. Price action was initially moving within a wedge pattern. This had been the case since the back end of September. ADA/USDT was contained within this formation.  Given the noted heavy selling pressure that was seen across the market late Wednesday, the lower trend line of the wedge was forced to give way to sellers.

Looking to the downside, ADA/USDT has been saved from further declines thanks to a critical demand zone. The area is seen tracking from $0.07000 down to $0.06000. It has proven to see strong buyers swoop in. The price last traded down here between 12-18th September. Buyers kicked in to then drive ADA/USDT to the north, seeing gains just shy of some 50%. The bulls were able to run the price up to $0.09500 into a known supply area. A peak was seen, and this rally was then gradually sold.

Should the above-mentioned demand area fail to hold and see a daily close below, it could be catastrophic. A development such as described, could leave the door wide open to a fresh wave of heavy selling.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

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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4.5 stars on average, based on 50 rated postsKen has over 8 years exposure to the financial markets. During a large part of his career, he worked as an analyst, covering a variety of asset classes; forex, fixed income, commodities, equities and cryptocurrencies. Ken has gone on to become a regular contributor across several large news and analysis outlets.




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