Cryptocurrency Relative Strength Analysis Report For Week Starting 7/28/19

When you think about Cryptocurrencies, one name immediately comes to mind, Bitcoin.  Since the creation of Bitcoin, there has only ever been one cryptocurrency at the top of the market cap rankings…Bitcoin. 

When the price of Bitcoin rises, generally you can expect altcoin prices to rise with it. Likewise, when the Bitcoin price drops, altcoins also follow. And sometimes when Bitcoin is rising, the altcoins are declining due to cash moving from the altcoins to Bitcoin and vice versa.

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Bitcoin dominance is used to measure the percentage of the cryptocurrency market that can be attributed to Bitcoin. Thus, it’s very easy to determine the relative strength of Bitcoin at any point. Not the case for the altcoins…until now. I have taken the more popular altcoins and determined their relative strength, relative to Bitcoin using just moving average.

Binance

EOS

Ethereum

Litecoin

Neo

Steem

Tron

Zcash

Based on the moving averages and the last daily closing price, relative to the moving averages,

the altcoins relative strength, relative to Bitcoin are the following:

Two Weeks Ago

This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.

Be Careful If You Hold Monero On Exchanges

In May of this year, even the best and largest crypto exchange in the world, Binance.  Binance called the attack a “large-scale security breach,” in which hackers stole 7,000 bitcoin which was about $40 million.  Monero just made some headlines, warning owners who  hold Monero on exchanges.

Not one, not two but nine security flaws have been revealed to be on Monero from developers. One of these nine bugs could actually be exploited and used to steal XMR from cryptocurrency exchanges.
The developers have also found five DoS attack vectors and they labelled one of them as a critical issue.  Another security flaw was found in relation to the application layer used in the Monero ecosystem to increase the privacy of the transactions, CryptoNote. If hackers were able to exploit such a bug, they would be able to take Monero nodes down via a method that includes the malicious request of a big bulk amount of blockchain information from the cryptocurrency’s network.

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Note: An offline wallet, also known as cold storage, is probably the best way to secure your cryptos provides because one stores their cryptos in a digital wallet that is not connected to the network. When done properly, it can offer a very good protection against computer vulnerabilities.

I’m sure the developers of Monero will address these flaws.  Thus, the chart suggests, momentum is to the upside, so if price can pull back to the weekly demand at $67, look for a first target at $160.

This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.

Cryptocurrency Relative Strength Analysis Report For Week Starting 7/7/19

When you think about Cryptocurrencies, one name immediately comes to mind, Bitcoin.  Since the creation of Bitcoin, there has only ever been one cryptocurrency at the top of the market cap rankings…Bitcoin. 

When the price of Bitcoin rises, generally you can expect altcoin prices to rise with it. Likewise, when the Bitcoin price drops, altcoins also follow. And sometimes when Bitcoin is rising, the altcoins are declining due to cash moving from the altcoins to Bitcoin and vice versa.

Source Image

Bitcoin dominance is used to measure the percentage of the cryptocurrency market that can be attributed to Bitcoin. Thus, it’s very easy to determine the relative strength of Bitcoin at any point. Not the case for the altcoins…until now. I have taken the more popular altcoins and determined their relative strength, relative to Bitcoin using just moving average.

Binance

EOS

Ethereum

Litecoin

Neo

Steem

Tron

Zcash

Based on the moving averages and the last daily closing price, relative to the moving averages,

the altcoins relative strength, relative to Bitcoin are the following:

Two Weeks Ago

This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.

Will Bitcoin SV Meteoric Rise Continue???

Bitcoin SV (stands for Satoshi’s Vision) has received another boost on Thursday. The cryptocurrency jumped from $190.00 to $220.00 in a matter of three hours after the Financial Times published a story on SegWit and Bitcoin transaction fees and cited Craig Wright on the issue. The development caused massive FOMO and Bitcoin SV buying; however, the speculative agitation seems to be fading away now. 

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Craig has a issues with coins/protocols that combine multiple Bitcoin transactions into a single transaction which makes it harder to track whose money has been where.

Bitcoin SV attempts to fulfill the original Bitcoin protocol, hence the name

MITH technical analysis

MITH seen from the temporality of 1D we can see how the current candle has found support in the 494 making a double floor, however, we can also see that the price when reaching the resistance of the 546 was rejected causing the current sales force, if the candle closes below the aforementioned support, it is very possible that we find a good entry in the support below the 401, with this would be forming a very bullish setup when claiming the support of the 494.

MITH seen from the temporality of 1W we can see how the previous bearish candle

Be Patient…The Smart Money Is Coming

Fidelity Investments Inc., one of the largest asset managers in the world, manages a large family of mutual funds, provides fund distribution and investment advice, retirement services, wealth management, operates as a brokerage firm, etc.   The brokerage firm has over 100 investor centers and provides services to retail investors and institutions.  This post will focus on the institutions who are salivating at the mouth waiting to get a piece of the crypto space.

Fidelity Investments, which began a custody service to store Bitcoin earlier this year, will buy and sell the world’s most popular digital asset for institutional customers within a

Is Dash About To Dash Higher???

Dash is based on the Bitcoin software, but faster, more secure and more private than Bitcoin.  Those 1st generation blockchains that don’t get upgrades, will certain be left in the dust by the 2nd, 3rd and 4th generation blockchains.  For example, on Dash when sending funds, one can select the “Use InstantX” box and their transactions will be done in less than 4 seconds.

The creator of Dash is Evan Duffield who by the age 15 years old, began in programming computers.  By 2013, Evan had begun to follow Andreas Antonopoulos and a few other prominent Bitcoin figures where a huge topic of discussion