This Week’s Crypto Winners
Published
The big news of last week was Bitcoin reaching new lows in this downmarket, but that doesn’t mean there weren’t some winners in the altcoin sector. Midas Touch Gold
The Midas Touch Gold experienced the largest increase, with the price of the coin going up a full 139.50% in the last 7 days. This change is largely the result of it being listed upon yet another exchange, the SIMEX on the 21st.
We saw a massive spike that night that has been maintained ever since. TMTG coin is all about enabling for easier and more secure trading of digital gold assets, a real world use case that is likely to get tons of use in the coming years. Just as Bitcoin is seen as a countercyclical asset, gold is as well, and there lies the upside.
Quasarcoin
Quasarcoin, or QAC, has experienced a steady increase in price over the course of the week. It is very much in the altcoin area (ranked 1832 in terms of market capitalization). The platform is an advaced reputation system based on blockchain technology, and it enables various APIs to reduce the anxiety while travelling and build trust along the way. The coin still technically only has a market cap of $0.00 USD, but that is due to the minimal coin supply and penny stock price.
Clams
Clams is ranked #334 in terms of market capitalization and went up approximately 100% in the last 7 days. The coin experienced a sharp run up on Sunday/Monday and is now finding its comfort area.
There is no significant news out in the last week. Bitcoin SV
Bitcoin SV is the only coin in the top 10 (ranked #9) to see significant movement. It has experienced a steady increased and peaked midway through Monday. At the time of publishing, it was up approximately 94.3%. This coin is the most important fo the group for the simple reason that it is the result of the Bitcoin Cash hard fork, and represents the new direction of the group. The SV stands for “Satoshi’s Vision” which refers back to the original plans for the cryptocurrency the founder might have had.
In a way, this is a “cheat” one to have on this list because it is the result of a hard fork and was naturally going to end up being quite high. Olive
Olive is another altcoin that has experienced a huge spike in the last 24 hours. Up until November 13th, it was trading at approximately twice the price. Right now it is up 110% from it’s lows earlier this week, and there is also no significant news on this coin.
Generally this means there are rumours about potential listings or a partnership in the works.
As you can see, there is a wide variety in the coins that were the biggest winners of the week. Some were in the top 100, and others had tiny market caps and aren’t even full penny stocks.
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.
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You must be logged in to post a comment Login Leave a Reply VanEck Confirms Nasdaq Will Launch Bitcoin Futures 2.0 Next Year
Published Sam Bourgi
It’s official: Nasdaq will begin offering bitcoin futures contracts in early 2019 as part of a wider effort to boost cryptocurrency adoption, according to VanEck, a leading fund manager. Nasdaq joins a growing list of major market players that are adding credence to the view that cryptocurrencies are here to stay. Bitcoin Futures 2.0
In partnership with VanEck, the Nasdaq stock exchange is developing “transparent, regulated and surveilled digital asset products” that are due to hit the market early next year, according to Gabor Gurbacs, the head of VanEck’s digital asset strategy.
First on the list is a bitcoin futures product that gives investors more options in accessing cryptocurrencies.
According to CNBC , Gurbacs said the forthcoming product was “a regulated crypto 2.0 futures-type contract,” which brings about “new standards for custody and surveillance.” Those comments were made in a panel discussion at the annual Consensus conference in New York.
Hacked first reported on Nasdaq’s ambition to enter the cryptocurrency market in November 2017. Earlier this week, the author followed rumblings that the exchange was finally ready to take the plunge.
At the time, it was believed that VanEck’s role would be to compile bitcoin pricing data from various exchanges.
Although Gurbacs didn’t elaborate too much on the new product, his firm has been working closely with the U.
S. Commodity Futures Trading Commission (CFTC) to satisfy important regulatory concerns. VanEck is quite familiar with regulatory bodies in its pursuit of the first bitcoin exchange-traded fund (ETF). The company, in collaboration with SolidX, has produced one of the most compelling ETF applications to-date.
The U.S. Securities and Exchange Commission (SEC) is still sitting on the proposal, which seeks to list physically-traded bitcoin funds. Crypto Markets Gather Steam
The flash crash that engulfed cryptocurrency prices over the last two weeks appears to have subsided.
Since Sunday, the combined value of all coins in circulation has recovered by as much as $27 billion, according to CoinMarketCap. The combined market capitalization currently resides north of $138 billion.
Following a sharp rally on Wednesday, only four of the top-ten cryptocurrencies were reporting growth on Thursday. They were bitcoin (+2%), Stellar (+2.9%), Tether (+0.7%) and Cardano (+5%). Outside the top-ten, Tron was up 8.5% at $0.
0158.
The sharp recovery follows a multi-week stretch where most coins were vastly oversold. The selloff coincided with a hard fork of bitcoin cash, which eventually divided the world’s fourth-largest cryptocurrency. In the wake of the hard fork, bitcoin cash ABC retained the BCH moniker while the competing chain, bitcoin cash SV, went its separate way. BSV is currently ranked ninth by market cap with a total value of nearly $1.7 billion.
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. Rate this post: Important for improving the service.
Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way. ( 0 votes, average: 0.00 out of 5 ) You need to be a registered member to rate this.
Loading… Sam Bourgi 4.6 stars on average, based on 680 rated posts Sam Bourgi is Chief Editor to Hacked.com, where he leads content development for one of the world’s foremost cryptocurrency resources. Over the past eight years Sam has authored more than 10,000 articles and over 40 whitepapers in the fields of labor market economics, emerging technologies, cryptocurrency and traditional finance. Sam’s work has been featured in and cited by some of the world’s leading newscasts, including Barron’s, CBOE and Forbes.
Contact: [email protected] Twitter: @hsbourgi Crypto Update: Coins Extend Bounce as Selling Pressure Eases
Published Mate Cser
The top cryptocurrencies continue to trade with a bullish short-term bias, and thanks to the two-day rally, the technical picture improved across the board.
The odds of a failed breakdown pattern increased in the segment, with Bitcoin clearly recovering above the prior low, joining Litecoin in the move, even as most of the major altcoins continue to trade below the panic lows.
Despite the encouraging short-term shift in the market, given the still overwhelmingly bearish long-term outlook traders should still only consider ultra-short-term positions, as even a short-term trend change is not confirmed yet. That said, we still expect a larger-scale bounce in the coming weeks, in particular after the clear weakening of the bearish momentum following the damaging rout of the past weeks, since sentiment became extremely negative. BTC/USD, 4-Hour Chart Analysis
Bitcoin is now testing the steeply declining short-term trendline after successfully rallying above the key $4000-$4050 level which marked last week’s initial panic bottom. The coin is now on a short-term buy single in our trend model , but as we pointed out before, the long-term setup still only justifies ultra-short-term long positions in the most valuable coin, with strict management.
The coin already got close to the next, weaker resistance level near $4450, and above the $4000 level, bulls are in control of the market, at least from a short-term perspective. The next major resistance zone is ahead between $5000 and $5100, while support is found at $3600 with a crucial long-term zone near $3000. ETH/USD, 4-Hour Chart Analysis
Ethereum is still signs of relative weakness despite the fact that the coin managed to recover above the $120 level.
The declining short-term is still clearly intact, and given the coins weakness, our trend model is only neutral with regards to the short-term time-frame while being clearly bearish long-term.
With that in mind traders should still stay away from the coin until a confirmed short-term trend change, with primary support still found in the $95-$100 zone, and with further resistance ahead near $130, $150, and $160.
Litecoin Hits $35 as Ripple Struggles With $0.40 Level Lead XRP/USDT, 4-Hour Chart Analysis
The second largest coin by market cap, couldn’t follow Bitcoin to a new short-term swing high, as the rally in XRP faded near the $0.
40 level. Despite the failed short-term move and the slight relative weakness, the coin’s relatively bullish long-term position remains safe.
Ripple is still trading above both the $0.355 and $0.375 support/resistance levels, while being stuck below the key long-term $0.42-$0.46 zone, and traders and investors still shouldn’t enter new positions here, with further support levels found at $0.32 and $0.
30. Litecoin/USD, 4-Hour Chart Analysis
Litecoin continues to outperform the broader market from a short-term technical perspective, and it remains well above the prior bear market low near $30 after triggering a short-term buy single yesterday.
The coin rallied up to the $34.50 resistance level as expected, and despite its clear strength, the long-term downtrend is clearly intact and traders should continue to use strict risk management.
Further resistance is ahead at $38 while the support below $30 is found near $26. Stellar/USDT, 4-Hour Chart Analysis
While Stellar joined the broad rally in the segment, it remains in a relatively weak technical position, trading well below the key swing low near $0.18 and the long-term support/resistance zone just above that level. Traders and investors should still stay away from the coin as the key long-term breakdown is still intact, and below $0.
195, the coin is in a confirmed bear market.
Featured image from Shutterstock
Disclaimer: The analyst owns cryptocurrencies. He holds investment positions in the coins, but doesn’t engage in short-term or day-trading, nor does he hold short positions on any of the coins. 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. Rate this post: Important for improving the service.
Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way.
( 1 votes, average: 5.00 out of 5 ) You need to be a registered member to rate this. Loading… Mate Cser 4.7 stars on average, based on 405 rated posts Trader 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..
