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Trade Recommendation: Ethereum Classic

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The price is going to bounce from 0.050000 resistance level and move below SMA50. RSI confirms price reversal. MACD histogram supports downward movement. DMI does not confirm the power of buyers. It’s a sell opportunity. Entry level is 0.045800 with stop at 0.051800 level. Profit targets are 0.040800 and 0.035000 levels. If you don’t use leverage, trading volume for this trade is up to 10% from your deposit.

Market: ETCETH
Sell: 0.045800
Stop: 0.051800
Profit Targets: 0.040800 and 0.035000

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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Why Investors Should Pay Attention to NMR

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One of the hottest topics in the news (besides blockchain related news) is machine learning. The ability to create algorithms and models that have strong predictive power is viewed as somewhat of a holy grail when it comes to computation. This is exactly why the hedge fund offshoot Numeraire is so powerful.

Unique Structure

As the first cryptocurrency started by a hedge fund, Numeraire is a product of Numerai. It was founded in 2017, and boasts a unique structure in terms of machine learning. The basic model of the company is to run weekly competitions for data scientists, to see who can present the best prediction models. Smart contracts judge the accuracy (and profitability) of a model, and the hedge fund is able to put it to use accordingly.

Only 1,000,000 coins have been released of this ERC-20 token, and they were specifically distributed to a confidential list of data scientists who would act as participants in the competitions.

How Does it Work?

The competitions are run in a rather unique way. The top 100 competitors – as judged by the live marketplace – receive a reward in the form of Bitcoin in exchange for their efforts, but they also have the ability to stake NMR tokens as a “bet” they are later rewarded for in the form of more NMR tokens and Bitcoin.

This structure essentially allows for them to earn dividends on their tokens, assuming their models are high-quality enough. It also stops fraudulent bets from being made by putting a cost on participating in the competition. As a modification of “proof of stake” the inventors are referring to this as “proof of intelligence”.
The scientists with NMR all receive a proprietary data set that is encrypted so as to not be readable by humans. This prevents frontrunning or other fraudulent practices by the scientists, while also

allowing them to test their models. It also creates an iterative, evolution-like process where the less accurate predictions are destroyed and that scientist is less likely to participate in the next competition.

Macro Considerations

All of this is interesting, but the true potential here is in the power this model has to change the way employment is structured. Numerai has created a meritocratic system where users are rewarded for their efforts on a performance-based payment scheme, and this can be applied everywhere – not just in the field of machine learning.

Another perspective on this is that Numeraire is creating a global collective intelligence where the whole is greater than the sum of the parts.

Investing in NMR

NMR is currently trading around 0.000899 BTC and is most easily available on Bittrex. It has faced resistance around the 0.00096 BTC mark, but if it were to break through that, this uptrend could yield a good short-term profit.

On a more long-term basis, there are several major fundamental factors that give Numeraire a chance at doing well over the next few years. Assuming these models continue to improve, and the scientists continue to get better, the price will naturally have to go up as demand increases.

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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Coinbase Pro Adds ETH-Based Quartet; Golem (GNT), Dai (DAI), Maker (MKR) and Zilliqa (ZIL)

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Coinbase Pro extended its run of listing Ethereum-based tokens on Tuesday, when it announced the addition of Golem (GNT), Dai (DAI), Maker (MKR) and Zilliqa (ZIL).

The exchange recently released a list of more than thirty coins and tokens that it had signalled for immediate attention. After the listing of four ERC-20 tokens last week, and the four mentioned above, the list has now has twenty-three coins remaining.

Coinbase Lists ERC-20 Tokens

According to Tuesday’s tweet from the Coinbase Pro team:

Inbound transfers for DAI, GNT, MKR, and ZIL are now available in the regions where trading is supported. Traders cannot yet place orders and no orders will be filled. Order books will be in transfer-only mode for a minimum of 12 hours.

Depending on where you’re based, you may not have full access to the complete range of services. The four tokens have been split into two different jurisdictions, as per the Coinbase Pro blog post:

Support for GNT and DAI will initially be available for Coinbase Pro users in the US (excluding NY), the UK, EU, Canada, Singapore and Australia. MKR and ZIL will not be available to customers in the US, but will be tradable in the UK, EU, Canada, Singapore and Australia on Coinbase Pro.

Dai is a dollar-pegged stablecoin which is backed by the funds of Maker token holders. The fact that Coinbase has found reason to separate two tokens which are part of the same ecosystem suggests the legal hoops they’re being forced to jump through are complex.

Utility or Coinbase Roulette?

Coinbase reminded everyone that the utility and functions of these assets would be lost if left on the Coinbase cold wallet:

Each of these tokens has associated functionality, some of which may be in beta. Moreover, each token’s associated functionality is not currently directly accessible via the Coinbase Pro platform.”

Some social media users questioned the function of these tokens, however, and one also questioned Coinbase’s motivations in listing them:

“@CoinbasePro lists 4 more random ERC20 coins. – Because it’s easy to add more ERC20 coins – Because in 2017 consumers wanted more coins – NOT because there’s huge demand for these particular coins Do you ever recall seeing a community coin poll at Coinbase? Binance runs them…”

Just another disgruntled bag-holder, or does he have a point?

Price Movement

All tokens mentioned were on the rise along with the rest of the market before the Coinbase announcement dropped, but news of the listings kicked the surge into second gear.

Zilliqa was the strongest performer out of the four, climbing 14% from a token price of $0.013988 up to $0.015963.

Maker gained just over 12% on its value, moving from $367 up to the $414 range. Golem climbed 11.9%, only days after hitting an all-time low following a 95.5% decline. Dai remained somewhat stable, although has been above its dollar peg for the last few days, falling from $1.07 to $1.02 in the last twenty-four hours.

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 106 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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EOS Price Analysis: EOS is Set Up for Bigger Gains, Following Recent Technical Development

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  • EOS has jumped around 45% between the sessions of 15th – 17th December. 
  • Bulls shrug off all negative related news flow that has surrounded EOS in recent weeks.

The EOS/USD bulls are on a serious mission to recovery. Unlike several of its peers, a slowdown in momentum has not been seen with the EOS price. More importantly, a breakout has been observed from a range-block, of which EOS/USD was confine within. This had been the case since the 7th December, managing to escape however on 17th and capitalize further on that.

EOS Shakes off Negative Commentary

Over the past few weeks, there have been several negative bits of news flow. Recently, as covered by Hacked in a prior article, the Cardano founder, Charles Hoskinson, had a fair few words to say about EOS. He had noted that action from regulators was potentially right around the corner for EOS. Hoskinson had specifically raised concerns about the EOS token sale.

Elsewhere, it was recently covered by Chinese press that EOS decentralized apps (DApps) have been victim to hacks totaling around $1 million since July. The report cited data which was collected by PeckShield, who are a blockchain security organization. This suggests that the DApps on EOS have been hit by at least 27 breaches from July up to late November. This is an amount of 400,000 EOS, equivalent to 8 million yuan, at the time of the published report.

Lastly, at the back-end of last month, there was some FUD surrounding the CTO of Block.one, Daniel Larimer. The community and social media space were concerned about Larimer working on new projects. This prompted worries that he may be leaving EOS, keeping in mind the EOS mainnet hadn’t even reached a year.

EOS has pretty much shrugged much of this FUD off, as seen with this latest rally. It has far outperformed its peers with the big gains collected over the past two sessions.

Technical Review EOS/USD

EOS/USD daily chart

EOS/USD had a decent extension to the upside after breaching the confinements of the detailed range-block.  The bulls initially jumped a chunky 45% over the period of 15th to the 17th December. However, into the session on Tuesday, the price has run into some minor resistance, seen at the 4th December high area. This can be noted within $2.60 territory.

The pullback being observed at the time of writing isn’t too much of a surprise, given the burst higher in such a short time frame. Profit-taking is only natural in this case. It is a minor retreat ahead of further potential moves north. Eyes will be on the breached range-block for support, the top of that seen at $2.18.

Should the bulls gather enough momentum for a push above the minor near-term resistance seen, then a fast 60% move could be seen. This would take EOS/USD back towards $4.40, where another minor supply zone is observed. Further north, a reclaim of the pre-November fall levels, i.e., $6 territory, is the next major target.

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 88 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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