7TH DAY & WEEKLY CRYPTO MARKET UPDATE (AUG 21ST – AUG 28TH 2018)
Welcome to the crypto Data and analytics blog. Let’s do this together.
I have had to answer so many questions about potential projects that are up trending and down trending, so, I believe, I can use this opportunity and address some questions just as they were.
So, today, I want to bring to you a quick 7th day & weekly crypto market update.
Full Disclosure: Please note that the suggestions here might hold today, tomorrow and till 28th August, and also, it might not.
Be it as it may, this quick hack is based on the current market as of before till August 2018.
Before we begin, let me take you round…
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7TH DAY & WEEKLY CRYPTO MARKET UPDATE (AUG 21ST – AUG 28TH 2018): 2/2
Initial Trade Price
New Trade Price
Initial Trade Price
New Trade Price
Note: (Analytics as of the time of writing).
Even before the SEC says yes or no to the ETFs, VeChain had to pop the campaign of bullishness after a successful partnership with PWC.
What is PWC? I will explain.
Nevertheless, I will explain a little bit.
PWC stands for Pricewaterhousecoopers. PWC is a partner of Vechain asset.
According to a report by Coininsider.com, the startup acquired shares in the cryptocurrency company in order to seek an integration in systems.
Why the Story Seems True?
At the time of the partnership, PwC Chairman Raymund Chao expressed his excitement at the prospect of the move and suggested that the deal would be a strategic one, which he imagined would provide a fresh sense of creativity into the professional services.
THE EFFECT OF PWC ON VECHAIN
Since the deal was struck in May of this year, VeChain has seen to expand its network and offer its services across the globe, as well as gaining local awareness.
The government of China, for example, has reached to VeChain to develop a tracking system to keep tabs on the movements of vaccine solutions within the country.
And of course the big one; The China-based cryptocurrency company has seen a massive price spike, seeing its value shoot up by over 50% overnight and analysts are attributing it to clever partnerships.
It is also believed that the impending listing of VeChain on Coinbase has contributed to the spike.
If an asset is believed to be a potential Coinbase cruiser, it will surge even though it is 2 minutes.
We saw this with Ethereum Classic and others (ETH, LTC, & BCH), so, the question of whether it will surge, that is not the question,
The question should be, do you want to Hold or trade it when it surges?
Another reason that might have led to the surged Vechain project is the VeChain’s X Node binding service.
You might be glad to know that the VeChain’s X Node binding service has closed, and the VET token swap service in the VeChainThor mobile wallet has been initiated.
The company also announced in a blog post recently that it has been tasked with developing a Drug and Vaccine Traceability solution in China by 2020.
The solution is being developed and tested in Shanghai in collaboration with DNV GL, and it will soon be implemented across the entire country.
Owing to its comeback, the cryptocurrency has achieved a market capitalization of $800 million, and ranks 19th on CoinMarketCap.
So, having seen that this is a valuable coin, what will you do with it? Buy or Trade?
2. LISK (LSK)
I have always wanted to do a deep research on this coin. And now, its cup is filled. Let’s see why.
LSK prices grew possibly because of the release of its new command interface feature. And what is that?
This is the new command line interface, which is to be integrated with the upcoming Lisk Core 1.0.
While on the surface, this is not a big deal, but on the outer court, the community does not think so, and which of course, led to the mooing of the coin.
In fact, given the predominantly negative market sentiment. While there was a bit of a stall, in the hours following it, heavy selling continued.
If we were to visualize the dynamics, it’s better to look at the weekly chart:
Take Home Point
Last years’ July range seems like the next support to be found, but it is quite wide for some traders’ preference.
The bottom is around $1.24-$1.25, while the top side is just above $2.00.
If LSK enters this realm, price action is likely to be choppy – CryptoVest.com
If you fall today, you will rise tomorrow. And that quote is for ZCash and USDT.
ZEC took a downturn after a vexed issue that the optional privacy on its protocol has been shown to reveal users transactions.
ZCash has recently faced a number of issues that the fall is not surprising.
For instance, (analytics as at 15th August, 2018)
The most recent protocol upgrade to the ZEC protocol was a hard fork dubbed “Overwinter,” which went live on June 26th.
The fork enhances transaction efficiency and scalability for shielded addresses.
Before the hard fork occurred, the sole maintainer of the Windows ZEC wallet, David Mercer, issued a statement in a plea for funding to the Zcash company and threatened to contentiously fork ZEC and start a separate project if he was not adequately paid.
The Zcash company obliged and a crisis was averted.
The next upgrade, “Sapling,” will increase scalability and privacy and is set for release in October.
There has been a Continuous controversies regarding Tether’s 50-million USDT prints.
Up till now, I have not considered why the sudden 50-million USDT Prints. However, I know what is for sure.
This is it.
Anything that is in abundance loses value in a like manner. Who know The Billion Coin?
And without mixing words, the 50-miilin USDT prints has also resulted in a mild decrease in USDT prices.
However, since USDT is a great coin, I think, it might go back to it’s good place, maybe. (comfortably at $1)
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COINS OF THE WEEK
HOW TO WIN AND NOT LOSE OUT
To win and not lose out is holding these coins for long term. And if you are in for a short term, then, you want to trade with them.
You can go ahead and trade them if you know the antics of crypto trading.
This is for those that have no insight about crypto trading but want to make profits out of it.
The truth is that you don’t have to know everything in crypto to get results.
As far as you want to pay the price to get what you want, then, you can get it.
And the price here is that this method is not free even though you can try it out for free.
Automating Crypto Trading.
This means that you don’t have much to do. Here, the whole work is on the shoulders of the system designed to help you out.
Two of the places you might want to visit are Cryptoblizz and CryptoHopper.
If you go for CryptoHopper, you can sign up for a free trial using this link.
And for Cryptoblizz, it is productive with advanced options. See more about Cryptoblizz/system.
I spent days to do this for you…what?
Have you gotten your Professional Crypto Analytics tools to use in 2018? If no, which would you prefer, the 70% or the 100% success?
WHY BITCOIN IS SECOND TO NONE!
I have been asked this question, so, let me execute it with the USDT factor. To have a full insight, see this.
This is simple.
Bitcoin cannot be second to none because it is not as abundance as other blockchain projects we know.
And with a greater advantage as the first cryptocurrency, there is no way any other coin will overtake it.
Should I say NEVER, EVER? No. I won’t.
However, the potentials which were Ethereum and Bitcoin Cash have found their solaces.
About Bitcoin Cash,
let’s get some data analytics about it.
The offshoot of the digital coin, known as Bitcoin Cash, is barely being used in commerce, according to Blockchain analytics firm Chainalysis.
A review of payments received by the world’s 17 largest crypto merchant processing services, such as BitPay, Coinify and GoCoin, found that Bitcoin Cash payments slumped to $3.7 million in May from a high of $10.5 million in March – Bloomberg.com
“There are fewer users of Bitcoin Cash, fewer holders,” Kim Grauer, senior economist at Chainalysis, said in a phone interview.
Bitcoin Cash split from Bitcoin a year ago.
Ver switched allegiance to Bitcoin Cash, invested in it, and overhauled his Bitcoin.com site to focus on the cryptocurrency. Advocates of each have been trading barbs on Twitter, Reddit and other forums ever since, and even engaged in the recent debate over ownership of Bitcoin.org.
Ver didn’t immediately respond to a request for comment.
Adoption in commerce has been low, partly the result of concentrated ownership, Grauer said.
About 56 percent of Bitcoin Cash is controlled by 67 wallets not located on exchanges, according to Chainalysis.
Of those, two wallets hold between 10,000 and 100,000 Bitcoin Cash. And chances are, the wealthiest holders are the ones sending a lot of the traffic to merchant services, Grauer said.
Wait a minute!!!
I am not in any way siding any coin, but the question is, is Bitcoin Cash a real Bitcoin or Bitcoin Cash is a vague coin?
Let me know what you think below, and let me know what your take on this analytics is.
Disclosure: this info is for educational purpose, and has nothing to do with iwillteachucrypto.com