cryptocurrency – Page 13

Cryptocurrency Quarterly Report

July 25, 2019 Published by timm

CoinGecko released its cryptocurrency quarterly report a few days ago. If you don’t know what CoinGecko is yet, then head over to https://www.coingecko.com/en and take a look. CoinGecko is what I consider to be the best of the cryptocurrency tracking websites, and it is a site which I visit (too) many times every day.

The folks at CoinGecko publish a Quarterly Report on the crypto world. It’s a highly informative document: as the name suggests it focuses on the previous quarter, though it does go back further than that where necessary.

I like the reports as they provide a broad overview of the cryptospace. With so many coins, projects, stories and developments in the crypto world, we are forced to somewhat narrow our focus and we tend to suffer from tunnel-vision. I know this happens because I actively try to maintain a broad knowledge of crypto by researching it and reading the latest news each day; but even so I know that projects or events can slip by me unnoticed. The CoinGecko reports are a way to ensure that you haven’t missed out on the most important developments of the quarter.

But the reports are far more than just a news stream, in fact they aren’t a news stream at all. They consolidate the most important information, normally into a graphical format, and then publish it on charts or infographics. This makes everything simple to read and not too laborious.

Let me show you some of what you can find in their latest report. All screenshots below are taken from the “CoinGecko Quarterly Report for Q2 2019”, available at https://assets.coingecko.com/reports/2019-Q2-Report/CoinGecko-2019-Q2-Report.pdf. All rights to the contents of these screenshots belong to CoinGecko, and I share this information under authority expressly granted to be me by CoinGecko via Twitter.

Introduction to the Q2 2019 Crypto Report:

The hype and FOMO are real! Strap on and enjoy this journey; let’s see how far we can fly on this rocket
ship. We hope this report brings you value and helps you stay updated on the constantly changing
cryptocurrency industry.

~ Bobby Ong and TM Lee – Co-Founders of CoinGecko; “Founders’ Notes”; Pg 4

If you’re anything like me, then you like to take a look at long-term chart trends. You CAN work these out mathematically be means of insanely complex MS Excel formulas. I used to do that when I started in crypto, but honestly the effort of maintaining those spreadsheets is not worth the benefits. These days I eyeball trendlines, but confirmation like this from CoinGecko can be used to ensure that my eyeballs are not skew.

Note how the trendlines are not only upwards sloping, but are upwards curved; indicative not only of growth, but of logarithmic growth (and now you know why I normally use log charts for crypto analysis).

The top coins feature prominently in the report, here CoinGecko gives us their quarterly performance. (*Sarcastic voice* “Oh no, XRP is being left behind, how sad!”)

This is a nice one, it shows you how the top 30 coin rankings have changed since the last quarterly report. CoinGecko started publishing regular Quarterly Reports in 2018, prior to that they published two reports in 2017: a Q3 one and an annual one. All their reports are available here: https://reports.coingecko.com/all-reports. Depending on which report it is, some of the reports are available not only in English, but also in Vietnamese, Korean, Japanese, Russian, Chinese and Indonesian! Personally I think that’s pretty impressive!

As an analyst, I love this chart. To me this says one thing: Bitcoin is climbing back up WITHOUT even experiencing any hype yet! CoinGecko obviously interpret it the same way I do, look at the two sections which they have circled…

Exchanges feature prominently in the report, just look at how their numbers are growing. There is far more to see in the report itself!

Binance in particular gets a lot of focus (unsurprisingly). This page is about its May 2019 hack. There is also a three page sub-section about Binance DEX – all nicely concise and well laid out in an easily readable fashion.

I’ve written about the CoinGecko Trust Score before, a feature which I consider to be very good. In case you missed my review of it, don’t fret, you can get it from the horse’s mouth.

Another topic which I have written about: (the dreaded) Libra. In addition to the page below, CoinGecko also summarise its whitepaper – great for those who are too lazy (I mean “too busy”) to read it! In all seriousness, I did read the Libra whitepaper and I found it to be nothing more than propaganda and marketing of a centralised pseudo-crypto, but let’s not talk about that now. CoinGecko also capture the various government responses to Libra (so far).

IEOs have been very popular this year. I don’t really like this fancy new buzzword (buzz-abbreviation?) for what are really nothing more than ICOs launched by an exchange, but I do like the CoinGecko analysis of them. In a five-page spread, they give a breakdown of the recent IEOs: splitting them by month, exchange (as seen below), amount raised, ROI by project and ROI by exchange. I’m sure you will agree that that is very useful information for a crypto investor to have!

There are also sections on the Lightning Network…

…and DApps

Conclusion

Note that I have not even shown you 20% of what this 45-page report has to offer. It’s long enough to be useful and complete, but short enough not to make you bored or to waste your time. I consider this report to be a job (very) well done and I congratulate CoinGecko on delivering another excellent product. I thoroughly recommend the report to the crypto community. Remember that Bit Brain is not affiliated with CoinGecko in any way, I get no direct benefit for writing this post. As usual, I’m just trying to bring you the best crypto information that I can, information which CoinGecko is good at supplying.

Don’t miss the final page of the report (unless you count “The End” as a page), it contains links to all of CoinGecko’s many social media channels. I follow them on STEEM and Twitter, and of course I use their website, but there are many other options available to those of you who prefer other social media channels or phone apps.

Yours in crypto (which you can find on CoinGecko)

Bit Brain

Cover image from https://assets.coingecko.com/reports/2019-Q2-Report/CoinGecko-2019-Q2-Report.pdf

“The secret to success: find out where people are going and get there first”

~ Mark Twain

“Crypto does not require institutional investment to succeed; institutions require crypto investments to remain successful”

~ Bit Brain

Bit Brain recommends:

Crypto Exchanges:

Will Bitcoin Get Back above $10,000?

July 24, 2019 Published by timm

Since yesterday’s update, Bitcoin broke the $9,950 support.

Screen Shot 2019-07-24 at 10.54.23 AM.png

In today’s video we discuss where price may go from here, key areas to watch and so much more. I hope you find it helpful.

Video Analysis:

If you don’t see the above video, navigate to TIMM (https://mentormarket.io/profile/?workin2005/) or Steemit in order to watch.

I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading.

Workin

If you found this post informative, please:

Get paid for viewing ads and Support the Crypto Ecosystem with Brave Browser. Free download here:
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Feature Image By: Saul Gravy

Bears Have Bulls Backed In a Corner!

July 23, 2019 Published by timm

Bears have bulls pushed against major support at $9,950. This is not just visual support, but also the 0.619 fib level of the larger structure. A decisive break (daily open and close) below this area would be significant.

Screen Shot 2019-07-23 at 12.44.11 PM.png

Bulls are still defending the 8 week EMA at the time of writing this.

Screen Shot 2019-07-23 at 12.44.34 PM.png

In today’s video we’ll look at the macro and micro picture. We’ll discuss where price may go from here, key areas to watch, I’ll answer your questions and so much more. I hope you find it helpful.

Video Analysis:

If you don’t see the above video, navigate to TIMM (https://mentormarket.io/profile/?workin2005/) or Steemit in order to watch.

I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading.

Workin

If you found this post informative, please:

Get paid for viewing ads and Support the Crypto Ecosystem with Brave Browser. Free download here:
https://brave.com/wor485

YouTube: https://www.youtube.com/c/workin2005
Twitter: https://twitter.com/workin2005
Facebook: https://www.facebook.com/Workin2005
Feature Image By: Saul Gravy

The Bedcoin Team is Planning on Creating a John Wick Continental Hotel

July 23, 2019 Published by timm

Have you seen the movie John Wick? Did you remember how cool the Continental Hotel was?

Well the team from Bedcoin is planning to create a Continental style hotel where you will use bedcoin to pay for special services, etc. (pretty sure no killing will also be a rule..hehe)

Here is more from their medium post…

Bedcoin is working to create a global community of Bedcoin holders that can use Bedcoins to unlock special accommodation features.

Bedcoins have two utilities:

Profit Sharing – Access profit sharing on the Bedcoin Platform when the profits from the investment portfolio are shared with Bedcoin Holders.

Traveling Services – Bedcoin will create a series of rooms / accommodation units which can be booked in special conditions only using Bedcoins as a payment coin.

You can read more about it in there post: Bedcoin is Planning to Create a Real Life Version of John Wick Continental Hotel

Bitcoin – possible next moves

July 23, 2019 Published by timm

Bitcoin continues to tread water – with gradual negative changes to its buoyancy

Here is what I think may be happening now, and what may happen next.

As BTC is clearly no longer rising in price, I have abandoned my bullish channel diagonal Fib levels and have replaced them with downwards sloping diagonal Fib retracement levels.

Viewed in the medium-term, the new levels look like this:

Seeing the above chart, my immediate thought was that BTC may be forming a bull flag. If it is a bull flag, then the most likely next move would be for BTC to break upwards out of the flag and to continue rising on the previous trajectory. This is not to say that BTC will not dip further before that happens.

My confidence factor wrt the bull flag scenario is not extremely high, it’s more a possibility than a probability. I place a likelihood of 40% on it being a bull flag. Because of this I would be cautious in trading it as a traditional bull flag – not that I trade BTC anyway, because I’m a hodler by nature.

Bull flag or not, BTC is dipping at the moment. While the drop in price may be arrested sooner, the new diagonal Fib levels indicate a possible bottom at around $8800. Remember that the Fib levels are sloping downwards, so if BTC dips later than expected, or if it dips again after that, then $8800 will no longer be the bottom of the dip. If BTC were to dip again in August, it would only find support in the $8500 – $8000 region.

Another thing I can’t help noticing is the similarity between this price movement, and that of various BTC price movements in 2017. Here is what BTC looks like now:

And here are similar BTC patterns from 2017:

…and similar patterns from earlier times too.

The important take away message from this is that this pattern is invariably seen during bull markets and usually precedes a price climb – before it reoccurs.

Summary:

I can’t tell what BTC will do next, but I am expecting a dip. After the dip there may well be another dip, or even multiple dips before BTC climbs again. It looks as if BTC will resumes its climb after the upcoming dips.

I think we are seeing a consolidation period, a time when weak hands are selling their 2019 gains and stronger hands are replacing the weak ones every time the price dips. Once this transfer process has completed, strong hands should dominate and the climb should resume.

I still think that 2019 bullishness kicked in too soon. The 2018 bear market is still fresh in the memories (and on the charts) of most investors: a reminder to be cautious. This is causing the price rise to be a case of “two steps forward, one step back” which is probably a healthier way to climb than an all out run to new highs. Consolidation makes a climb more sustainable, less volatile and less likely to lead to a big crash at the end of the climb – so it’s a good thing for investors.

Even though I am out of spending money, if BTC dips into the $8000s, I will consider using some of my fiat savings to buy more. This reasons for this are twofold:

BTC has become more legitimate than I expected, sooner than I expected. It features prominently in mainsteam media and is often commented on by world leaders. Whether the press is in favour of it or against it, the exposure is good for BTC and the man in the street is starting to view it as a real contender/threat to fiat money.
My faith in fiat diminishes by the day. Unfortunately, the majority of my saving are still in fiat. I am actively seeking good stores-of-value to place some of my fiat savings into. Crypto is risky, so one must be very careful about shifting money into crypto, but if I am going to be taking money out of fiat, then I might as well put a little more of that money into crypto. The rest will probably go into precious metals, I’m still busy deciding and watching the markets closely.

Yours in crypto