Every Thursday we publish our Industry Report, covering some of the big picture news and recapping our trade threads from the last week. To see all of our asset reports - covering BTC, ETH and EOS - and all of our trade opportunities, subscribe now, your first month is FREE!
In this issue:
Sharpening Your Skills with Bitcoin Bootcamp
HODLers Unite
Looking For a Winning Strategy?
Trade Opportunity Recap
Sharpen Your Skills with Bitcoin Bootcamp
By the end of the course you’ll be able to:
Plan and execute a comprehensive cryptocurrency trading strategy
Make accurate trading decisions by synthesizing technical, fundamental and sentiment information
Maximize your profits and minimize your risk so you can take advantage of volatility
Our Course runs for 5 hours and comes with:
A year of Goldlight Research ($228 value)
$25,000 in free trades (for users outside the us EU)
Trading Office Hours
Our Satisfaction Guarantee
HODLers Unite
You may have have heard the term Hold On for Dear Life (HODL) before. Coined on the Bitcointalk trading forum, it has sparked a community of hundreds of thousands to do just that. Recent analysis by Coin Metrics shows that the total addresses holding at least 10 Bitcoin hit an all-time high on September 1st with 157,215 clocking in.
For Ethereum, the number of addresses holding at least one ten-billionth of current supply also recently hit an all-time high - with 5,923,953 ETH addresses holding at least one ten-billionth of ETH supply.
As the number of addresses with core holdings increases, the number of shares trading on the open market declines, making price more susceptible to quick price changes as order books are thinner. Over time, as the global demand for Bitcoin increases, and the supply rate remains fixed and slowly declining, price is expected to increase.
Over the long run Bitcoin price will be very volatile. We all know timing the market can be hard, that’s why we recommend dollar cost averaging. Start stacking Satoshi’s - the divisible unit of Bitcoin - every weekend regardless of the price and hold on for the ride as price trends higher year over year.
Looking for a Winning Strategy?
I’ve always wanted an easy trading strategy. New second by second price analysis conducted by Coin Metrics found an edge that might just be the solution.
On August 28th the cryptocurrency market took a nosedive over 9% across the board. Lining up the price declines of several top coins we can see that heavily centralized EOS fell faster and earlier than that of it’s altcoin competitors like Litecoin, Bitcoin Cash, or Ethereum. While Coin Metrics notes the EOS decline began 1 minute after Bitcoin’s decline, we may be able to use EOS movement in sync with Bitcoin to get ahead of directional movements in Litecoin, Bitcoin Cash or Ethereum.
Our Trades Last Week
Every Week we recap our closed trade opportunities from the last seven days so you can see our performance and discuss what we’ve learned.
EOS 11.30%
BTC (Cumulative) 1.74%
ETH -0.94%
Overall our trades returned 3.46% the past week and were 50% accurate. We were a little too conservative with our ETH analysis after opening our short - which would have returned 4.7% had we left it open.
Compared to the Bletchley 10 Index with day open EDT pricing, we performed 184.04% better than the benchmark from 8/28 to 9/3.
Last Weeks Trade Threads
Our archived threads are made public after the week has concluded and our new premium trades have been published.
Bitcoin Thread: http://bit.ly/Aug27BTCTrade
EOS Thread: http://bit.ly/Aug27EOSTrade
Ethereum Thread: http://bit.ly/Aug30ETHReport
That’s it for our Weekly Report! If you enjoyed it and you’re not already a member, subscribe now for about the price of a sandwich each month and get:
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