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Trade Recommendation: Zcash

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The trading idea is based on a breakout above the downtrend line and the local swing high with further upward movement. Pending orders for buy can be placed at 342.00 level with stop orders below SMA100 at 310.00 level. The main profit target should be at 400.00 level. If you don’t use leverage, trading volume for this trade is up to 5% from your deposit.

Market: ZECUSDT
Buy: 342.00
Stop: 310.00
Profit Targets: 400.00

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

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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2 Comments

2 Comments

  1. ORSILV SNIPERMASTER

    December 5, 2017 at 9:19 am

    No hermano, que mala recomendación, he perdido mas de 3000 dolares con su consejo. Esta moneda desde que la compre en su recomendación no ha hecho mas que bajar. Que mal por ese pésimo a augurio para ZCASH.

    • Korera

      December 5, 2017 at 7:52 pm

      no worries. you still should have 20 times more if you put 5% of your money…

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Cryptocurrencies

EOS Again Ranked #1 Cryptocurrency by Chinese Government

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The Chinese government has once again named EOS the world’s top cryptocurrency in a ranking that prioritizes innovation and application over market capitalization. Bitcoin, the world’s largest cryptocurrency by market cap and trading volume, jumped seven spots compared with June.

Crypto Market Ranking

China’s Center for Information Industry Development (CCID) has published the third edition of its Global Public Chain Technology Evaluation Index, which ranks dozens of cryptocurrencies on technology, application and innovation. EOS topped the list for the second consecutive edition despite concerns over the platform’s botched mainnet launch in June.

EOS’ strong performance likely reflects its scalability solutions. The platform’s proof-of-stake protocol is capable of processing a huge number of transactions when compared with leading blockchains bitcoin and Ethereum.

Like the previous edition, Ethereum was ranked second. NEO was bumped out of the top-three in favor of Komodo, which failed to crack the top-15 in June.

The top-ten are ranked as follows:

  1. EOS
  2. Ethereum
  3. Komodo
  4. Nebulas
  5. NEO
  6. Stellar
  7. Lisk
  8. GXChain
  9. Steem
  10. Bitcoin

The first version of the report, released in May, ranked Ethereum as the world’s top blockchain.

Bitcoin’s Rise

Although bitcoin did not perform particularly well in the first two CCID reports, it has risen through the rankings following a major structural shift in the cryptocurrency market. As Hacked previously reported, bitcoin’s dominance rate has risen more than 40% over the past three months. Bitcoin now accounts for more than 52% of the entire market capitalization for cryptocurrencies after hitting a high of 54.5% last week.

EOS and Ethereum have seen their market values plummet over the same period. Ether’s dramatic fall, which culminated in last week’s 14-month low, has raised alarm bells over the health of initial coin offerings (ICOs) in the wake of last year’s record funding amounts.

Bitcoin’s growing market share essentially means other digital assets will rise and fall on its whim. Although non-correlation with bitcoin is seen as necessary for a healthy, dynamic cryptocurrency market, recent price developments suggest investors are dropping more speculative bets for an asset with a proven track record. According to Ethereum founder Vitalik Buterin, this will ultimately lead to a new era of ICOs with better protocols and more proven business models. This paradigm, known as “Tokens 2.0,” could materialize as early as next year.

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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4.6 stars on average, based on 553 rated postsSam Bourgi is Chief Editor to Hacked.com, where he specializes in cryptocurrency, economics and the broader financial markets. Sam has nearly eight years of progressive experience as an analyst, writer and financial market commentator where he has contributed to the world's foremost newscasts.




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Altcoins

Veritaseum Up 124% Over Week: CEO Gets Guardian Coverage

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Veritaseum (VERI) has recorded 29% net growth for Monday, Aug 20th as it goes on to compound weekly gains of 124% and threatens to secure a place in the market cap top one-hundred. The growth over the past week is perhaps what prompted the Nigerian arm of the Guardian news publication to interview Middleton, as he tours Nigeria set on implementing Veritaseum for the building of a ‘pan-African economic hub’.

VERI Token Up 122% Over Week

Veritaseum’s growth for the day sets it out as the market’s top performer over the last twenty-four hours, with a 41% spike peaking at a price of $39.23 at around midday. That’s up from a starting price of $27.74. Following the subsequent cool-down which occurred after the spike, the token now sits at the $36 range, although short, sharp spikes and dips have been occurring constantly since yesterday.

VERI tokens have been on the up since August 14th after reaching a low of $17.46 from which they rebounded. The rebound has lasted just over six days, with day-on-day growth occurring ever since. The climb from the weekly low to today’s peak amounts to 124% growth for Veritaseum, which has now muscled its way into the top ninety cryptocurrencies by market cap.

You’d be right to suspect that a coin ranked so far down in the rankings isn’t very well represented on the major exchanges. Over 78% of VERI daily trades have come from the Mercatox exchange, with VERI/ETH trades making up around $500,000, and VERI/BTC accounting for $200,000 of the daily total.

Trade volumes have actually been declining throughout the week as the token price has risen, with a monthly high of $2.2 million giving way to $800,000 today.

Veritaseum CEO Lays Out Nigerian Plans for Guardian

The CEO of Veritaseum spoke with the Nigerian wing of the Guardian recently, detailing his plans to create an economic hub within Nigeria which encompasses the entire continent of Africa.

Reggie Middleton’s plans for a pan-African economic hub include some ambitious ideas; including building a 4-lane superhighway with automated tolls – all paid for by cryptocurrency token sales by investors from around the world.

Middleton also floated the idea of building a high-speed monorail to connect disparate regions of the country, and is intent on setting up business infrastructure in Nigeria.

“Give us your business plan and we will review it thoroughly and if we think it is deeper, we will talk to the regulators, create a sound box- basically to allow the regulator see what we are doing, but allow us to do it. If we are sure of how determined and safe the business is, we will raise capital for you from Nigeria and the rest of the world, as part of efforts to increase foreign investments for the country and raise employment opportunities.”

Middleton was previously at the center of the purported Veritaseum hack where $8.7 million worth of VERI tokens were reportedly stolen from his personal account back in June 2017. The funds were subsequently sold off and Veritaseum’s value plummeted throughout 2017.

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 38 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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Altcoins

Cryptocurrency Market Treads Water in Anticipation of Bitcoin’s Next Breakout

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Cryptocurrencies traded marginally lower on Monday, as bitcoin, the market’s chief bellwether, awaited its next major breakout. According to the technical charts, the bitcoin price is poised to continue higher in the short term, though damaged investor psychology could undermine those efforts.

Market Update

The combined value of all cryptocurrencies in circulation reached $213.3 billion, according to CoinMarketCap. The market is little changed compared with 24 hours ago and is roughly $5 billion lower than the intraday peak.

Trade volumes continued to hover in the $11-$12 billion range after briefly surpassing $16 billion on Saturday.

Most major assets in the top-ten were trading lower, with losses ranging from 1.6% to 3.9%.

Bitcoin traded within a $140 range on Bitfinex, eventually settling at $6,450. BTC is little changed for the day.

The bitcoin price is showing signs of stabilizing after last week’s modest recovery, which saw prices bounced from $5,860 toward $6,600. In doing so, BTC crossed the 50-day moving average and looks poised to test the 200-day MA, based on the four-hour charts.

 At current values, bitcoin accounts for 52.2% of the total cryptocurrency market. Therefore, its next move will have major implications on altcoins and tokens.

Bitcoin ETF Talk

The cryptocurrency market is still reeling from the SEC’s non-decision on a highly touted bitcoin exchange-traded fund. As Hacked reported nearly two weeks ago, the Securities and Exchange Commission delayed its ruling until Sept. 30 in order to weigh thousands of public comments on the matter. For many, the agency’s forthcoming decision could make or break the market – at least, in the short term.

The asset in question is the CBOE-backed VanEck SolidX Bitcoin ETF. According to the application, VanEck and SolidX are proposing a fund backed by physical bitcoin with an insurance component to protect investors against operational risks associated with sourcing and holding the digital asset. Naturally, investors are excited about the fund’s potential and believe it solves many of the SEC’s concerns around safety and price manipulation.

However, the consensus among analysts is that approval is too premature at this stage. For starters, the SEC has yet to fully grasp the implications of a bitcoin ETF. As a matter of fact, the agency only recently deemed bitcoin to be a non-security. According to analysts, the SEC is likely to delay its ruling until next year as the agency investigates the matter further.

Fixation on the ETF narrative ignores the myriad of positive developments concerning crypto custody and the recently announced Bakkt initiative, which aims to bring cryptocurrencies to mainstream investors and consumers.

Bakkt, which was announced last month, is a new startup funded by Intercontinental Exchange (ICE), Microsoft, Starbucks and Boston Consulting Group (BCG), among others.

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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4.6 stars on average, based on 553 rated postsSam Bourgi is Chief Editor to Hacked.com, where he specializes in cryptocurrency, economics and the broader financial markets. Sam has nearly eight years of progressive experience as an analyst, writer and financial market commentator where he has contributed to the world's foremost newscasts.




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