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Could This Be The End for XRP In The Crypto Markets?

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The crypto-markets have been looking a bit gloomy this past week with the total market capitalization dropping from $255 Billion on Tuesday the 7th of August, to current levels of $207 Billion at the moment of writing this (August 11th). One of the fears many crypto traders have is that this market cap will drop to levels below $200 Billion and continue to hurt their investment portfolios.

Looking at XRP, it has dropped from levels of $0.41 on the same Tuesday – 7th of August – to current levels of $0.29. This is a drop in price of 30% in less than 4 days. Comparing this to the peak value of XRP of $3.82 in January, the digital asset has dropped 92.4% in the past 8 months.

It is by a similar observation that the inventor of the Bollinger Bands used in trading – John Bollinger – believes it is time to start looking for signs of capitulation in XRP. In a tweet on the 10th of August, Mr. Bollinger had this to say about the recent slump in the price of the digital asset:

Capitulation is when investors give up on any previous gains in an asset they own in the market and start selling abrupt to get out of their positions. Capitulation involves extremely high volumes and sharp declines. It also involves panic selling. The question now is, have the XRP investors totally given up on the coin that is meant to skyrocket to the stratosphere this year due to numerous news and its general popularity?

A brief history of John Bollinger

John Bollinger is a trusted and famous technical trader who developed the highly used Bollinger Bands. He developed the technique in the 1980s which uses a moving average with two trading bands above and below it. These two bands are used to gauge the possible highs and lows of an asset. Many traders believe that the closer the price of an asset moves to the upper band, the more overbought it is and most likely to drop in value. If it moves to the lower band, it is oversold and likely to start an upward trend.

John Bollinger further provides 22 rules to follow when using the bands as a trading system. Crypto trading platforms such as Binance and Bitfinex have Bollinger Bands as an analysis tool on their charts.

To trade cryptocurrencies, sign up with Binance!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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