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Crypto News: The Return Of FOMO

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FOMO
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As we start the last week of September off and the last week of the third quarter, the bull camp certainly feels like the sentiment has changed. Last week’s XRP mega breakout rally reminded everyone of why we loved crypto in 2017. XRP’s epic run from .27 to .80 in the span of a few days brought out plenty of XRP fanboys and haters. The haters are saying that the move proves that XRP is centralized and was a pump engineering by the folks at Ripple. The fanboys, on the other hand, touted the launch of xRapid and Coil that XRP is getting closer to real-world adoption. Whether you’re an XRP hater or fanboy, the clear reason why we pumped so hard is FOMO. FOMO is very powerful in crypto land and we are glad to see it’s still alive and well in the crypto verse. In our opinion, this is the biggest crypto news of the month – the return of FOMO.

XRP price action

In looking at the XRP price action, we remain bullish on XRP as long as it remains above the 200-day moving average, which is at about .53 on this chart. A close below here would be short-term bearish in our opinion. We expect XRP to consolidate around the 200-day moving average before going on its next run.

Bitcoin

Bitcoin needs to hold 6600 or else we will most likely dump to 6400. 6600 was previous resistance that we broke through last week. A drop below will put us back in the neutral zone of 6200 to 6500 that seems like purgatory for Bitcoin. The bears come out of hibernation and say that new lows are on the way and the pessimistic forecasts of $3k and lower starting hitting the headlines.

We do believe that sentiment has changed in the markets and that sentiment is favoring the bulls now. Last week, the market ignored the CVE vulnerability, which is not what a bear market does. In a bear market, any negative news drives prices lower and bullish news is overlooked. Likewise, in a bull market, negative news is ignored and bullish news keeps the momentum going.

Ethereum

Ethereum is the last one we can get bullish on. Matter of fact, if it wasn’t for XRP last week, ETH would probably be under $200 right now. ETH is only trading above its 20-day moving average right now and has the 50-day at 267. ETH is no one even close to its 200-day moving average, which signals to trend traders that the trend remains down and that rallies in ETH are to be sold. We are already witnessing this to start the week as ETH has sold off from 245 to lows of 231. A break below 230, which was prior resistance, and we will target 220 and below again.

Electroneum

Electroneum (ETN) is one of the more popular coins on Global Coin Report and matter of fact, our most popular article ever is on Electroneum. As you can see from the CoinMarketCap chart, ETN has been making a nice run in the last week.

My colleague Ali Qamar had this to say about why Electroneum is running:

Mobile micropayments are also at the heart of Electoneum’s goals, and the project recently released its mobile payment application, in a beta-testing stage. And it seems to be working very well as testers report good news from all over the world about the way the app works and delivers the service it’s supposed to do. All those good news are driving ETN’s price up.

Over on YouTube, Crypto Rich discussed Electroneum in further detail and has been a good source of information on Electroneum and interviewed CEO Richard Ells several times.

Bottom line

The best move right now is to watch closely and wait. Another pump is coming. When no one knows, but when it does, we will be ready.

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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. The author is long Bitcoin. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Pexels

Charts courtesy of Trading View

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HODLing Stellar Is A Good Plan For 2019

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HODLing, or holding on to a certain asset or assets has always been an extremely useful investment strategy, even before cryptocurrencies were even imagined. Now, with the market being more uncertain than ever, many are wondering what is the right thing to do with the coins in their possession.

Of course, things change depending on the coin in question, but today, we are going to talk about why it is a good idea to hold on to your Stellar (XLM) in 2019.

Why You Should Hodl Stellar (XLM)

The crypto market is rich with hundreds, and even thousands of different projects at this point, and separating valuable ones from those that are destined to slowly fade away can be tricky. However, even the biggest skeptics believe that Stellar is a coin that is here to stay.

XLM was first launched in 2014, and for a long time now, it has been among the top 10 cryptos by market cap. It is an open-source, decentralized protocol that allows users to send fiat currencies by using cryptocurrency as a method of transport. In a lot of ways, it is very similar to XRP. However, the biggest difference is that Stellar aims to offer its services to regular people, while XRP is more interested in working with banks and financial institutions.

Nevertheless, sending money, especially when it comes to cross-border…

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Reasons To Invest In Electroneum In 2019

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Electroneum
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2018 has been quite a rollercoaster for the crypto space. Coins went up and down more times than anyone could have guessed, not to mention two massive market crashes. However, in a few short weeks, the year will be over, and a new, positive period for the crypto world is expected to arrive.

While there are many predictions for 2019, today we are only interested in one thing — Electroneum (ETN). A lot of people quickly took notice of this coin, and many believe that it is among the coins of the future. Indeed, it has received a lot of attention, and many are interested in why that is, and why investing in it is a good idea. So, let’s take a look at a few reasons why you should invest in ETN in 2019.

1) It is fast

Speed and precision of any service have always been very important to people. This importance is even greater when making a profit depends on it. Electroneum developers were aware of this when they created it, and the coin is up to 5 times faster than Bitcoin. This means that ETN transactions can be confirmed much faster, which in turn reduces fees and waiting time.

Furthermore, there are also plans to create Electroneum Virtual Currency Exchange, which will allow the project to act as an exchange. However, the even…

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STEEMIT Running Out Of STEAM?

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Has Steemit seen its glory days run dry? There have been many rumors that the CEO Ned Scott has pushed the company to the blockchain focus that he forgot about Steem being a social media platform. Now, these are just things some of the former employees have been heard saying, but it is a rather interesting take as to what is going on. Give the following video a watch where I break down what is happening with Steem. I also give my thoughts on what may happen to other large ICOs and how we may see this trend continue as we have seen with ConsenSys laying off 10% of their workforce.

If the big name projects are starting to do this will it also have a trickle-down effect on other ICO’s which have no products and are running out of cash? I definitely think so, and I also see this negatively affecting Ethereum for the mid-term. The question many have been asking is just how long can the bottom 1800 projects last with the current market conditions? How many ICOs did not liquidate their Ethereum and now are stuck with 1/10th the cash flow or more in some cases, how will they pay to continue operations? What about the growing number of projects laying off employees…

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