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Trade Recommendation: Ethereum Classic

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The price bounced from the support zone formed by SMA100 and 17.50 support level. RSI confirmed price reversal. MACD histogram supports upward movement. ADX line is going to reverse and it tells us that bears are not so strong now for pushing the price lower. We can join to possible upward movement using buy orders. Entry level is 18.30 with stop at 17.00 level. The main profit targets is 21.00 resistance level. If you don’t use leverage, trading volume for this trade is up to 5% from your deposit.

Market: ETCUSD
Buy: 18.30
Stop: 17.00
Profit Targets: 21.00

The trading signal is based on Poloniex chart.
Disclaimer: The analyst does not have investments in Ethereum Classic.

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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Cryptocurrencies

South Korean Government Launches Pyeongchang Blockchain Forum: Boosting National Crypto Presence

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Among the South-Asian markets, South Korea has repeatedly proven itself one of the most supportive of cryptocurrencies and blockchain (in terms of government and public).

Even stories from early 2019 support this claim. From the government: blockchain research has ‘Now [been] Granted Tax Credit‘, whilst the Defence Acquisition Program Administration (DAPA) has announced funding for blockchain projects.

Additionally, pro-active regulation is going strong and the country maintains a complete ban on ICOs.

Continuing this trend the first ever ‘Blockchain Pyeongchang Forum’ will take place at the Pyeongchang Alpensia Convention Center, in the Gangwon-do Province of South Korea between the 29th and 29th of January 2019.

The event is accompanied by the tag-line: the “Smart Real Economy of Future of Block Chain”.

According to the official event press-release, the forum will be a space for guests, participants and other attendees to share their respective opinions and vision for the ‘Fourth Industrial Revolution’.

Blockchain Pyeongchang Forum 2019

The Blockchain Pyeongchang Forum 2019 (or ‘BFF 2019 for short’) is an event hosted by the South Korean government, in particular the provincial authorities of the Gangwon-do Province, with sponsorship from a blockchain consulting firm titled ‘Korea Digital Currency R&D‘ (KDC).

The proceedings are divided into what the organisers deem give of the major global issues facing the blockchain industry with a forward-looking perspective. These issues are represented by the following sessions (in addition to exhibitions, ‘road shows’, lectures and discussions):

  • The Creation of A Smart City
  • Blockchain & Local Economy Platforms
  • Commercial Use of Local Currency
  • Infrastructure Convergence
  • Blockchain Policy

Behind The Scenes

Alpensia Convention Center is best known worldwide as the Alpensia Olympic Park, named for its role in the Ski Jumping competition phases during the 2018 Winter Olympics attributing an iconic international status. It has since earned a new prestige for its hotel, resort and conference spaces, which have been used by government, the public, and business alike for the site’s respective features and benefits.

When asked for the official press release (which we received just Yesterday), Choi Moon-soon, Governor of Gangwon-do Province stated that:

“Gangwon-do province would build authentic global brand in blockchain industry. Also, the forum would able to give deep impressions to world with another international event as a host of PyeongChang 2018 Olympic Winter Games.”

Adding to this, BFF2019 officials expect

“that Gangwon Province will become a hub of global blockchain through BPF 2019 after Gangwon Province successfully hosted the Olympics.”

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

This Week’s Crypto Winners (January 15th)

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January has mostly been filled with negative news in the crypto world. With lows being tested and several hacks or 51% attacks occurring in just the first few weeks, this looks to be a very exciting year for crypto altogether. One common pattern this week was spikes in price with little explanation for why they might have occurred. This is just a sign of increasing volatility in the markets, in which case most investors should be wary.

Agrello

We’ve talked about Agrello before, and they’ve had another amazing week. Even though there were other coins achieving massive returns (CariNet managed 671.87% over the week), these coins often end up having a less significant market capitalization and trade more like penny stocks. Agrello’s 80.41% return and $42,103,013 daily hour volume are very impressive, but there is no news or announcement in either the message board or official company channels that might explain this. The legal contract startup seems to be in a volatile state, with the spike mostly occurring in the last 24 hours.

Tierion

Tierion managed 45.03% returns over the week, with 24 hour volume of $9,731,569. The coin is currently ranked 260th in terms of market capitalization, and most of this increase is the result of a spike on January 15th. The company boasts the ability to create “proof” for companies who need audit trails, timestamping, credentials, and other authentication purposes. The messageboards don’t seem to have any idea what is causing this pump, and Tierion’s Twitter account doesn’t have any new news on this, so this is a rather surprising jump in price. The best thing to do in these illogical situations is sell if you were ahead, and don’t buy into the hype if you’re not.

VIBE

VIBE was another big winner of the week, doing 24 hour volume of $19,659,426 and climbing 39.54%. Ranked 188th in terms of market capitalization, the company is centered around creating “virtual lives” and is basically a high level gaming startup. VIBE just released “VIBE or DIE”, their innovative new first person shooter. The game is designed so that VIBE tokens are required for enhanced gameplay, which is an interesting play on the gaming models developed in the past, where powerups and skins would create new revenue streams for the creators.

Aurora

Ranked 56th in terms of market capitalization, Aurora experienced a large spike at the beginning of the week and a large one at the end, resulting in a 32.09% price increase and $2,597,114 of 24 hour volume. Aurora has engineered several breakthroughs regarding consensus algorithms and is targeting several industries like gaming, big data, artificial intelligence and IoT. By boasting lightning fast transactions and being smart about who they target, they have a higher possibility of gaining dominance in a specific space.

Optimal Shelf Availability Token

Optimal Shelf Availability Token went through a 49.35% run up over the week, putting it at 79th in terms of market capitalization. As the name would suggest OSA is a supply chain management company that uses smart contracts to improve the flow of data and goods. Once again, the company seems to have experienced no notable news, which leaves this increase as something to be taken with a grain of salt.

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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Altcoins

Crypto Market Falls in Installments; Bitcoin and XRP In Lockstep; Small Alts Pump

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The cryptocurrency market continued to fall on Tuesday as $2 billion left the global cap in just fifteen minutes. Major altcoins and recent gainers took the brunt of the hit, while Bitcoin and XRP avoided the worst and continued to trade in lockstep fashion.

A handful of small-cap alts avoided gravity with double-digit pumps, but for how long? After the global market surged 45% in December, the current correction threatens to return the market to the $100 million valuation which was struck as recently as last month.

BTC & XRP Align

The top two coins at the top of the crypto market cap continue to trade together on Tuesday, similar to how BTC and ETH used to for so long.

While BTC and XRP only lost value in the 2-3% range, Ethereum’s losses were more pronounced, sinking 7.6% over the day. Such was the case across many major alts, including Bitcoin Cash (BCH), Bitcoin SV (BSV) and Neo (NEO).

Despite the $2 billion fall across the market in just fifteen minutes, Bitcoin remained within the $3,600 range after falling to $3,620. Earlier in the day BTC traded as high as $3,720, marking a 2.7% reduction.

Overall market sentiment may have cooled today after news that BitMEX was closing U.S user accounts. Many believe the firm was pressured by the SEC directly, although no comment has made as of yet. Some estimates suggest United States users account for around 15% of BitMEX’s entire user base.

XRP meanwhile lost just over 3% on Tuesday – dropping to the $0.32 range. However XRP’s stubbornness to drop in price is matched by its lack of upward momentum. Whereas TRX has gained over 100% since December lows, and ETH currently sits at 50% above this time last month, XRP has gained just 14% in the same time period.

Small Caps Pump

A handful of small to mid cap tokens continued to climb during Tuesday’s dip. Wax (WAX), Stratis (STRAT) and Aeternity (AE) defied gravity double-digit surges between 10% and 20% in strength.

Wax (WAX) was the best performer from the top hundred over twenty-four hours, climbing 22% from the daily low of $0.034038 up to $0.041834. A major drop off shortly afterwards down to the $0.038 range capped a tumultuous day for the gaming token.

Daily trades rose 580% throughout the day, from $275,000 up to $1.7 million, thanks in part to the 55% of trades coming from KRW markets.

Wax is EOS-based and focuses on blockchain gaming collectibles, and frequently scores abnormally high on independent blockchain activity rankings. Read this introductory article to find out more about the Wax project.

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 123 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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