SmartCoin® Investors Double Their Money in 10 Months..

We are excited to have breached the 100% Annual Return within just 10 months of launching SmartCoin to private investors. The year to date was very volatile, particularly for Bitcoin. With huge price swings, comes opportunities to trade.  Making money on price drops is the main advantage SmartCoin has over traditional buy and hold strategies. For more information visit SmartCoin


SmartCoin

With a 42% Surge Bitcoin Prints the 3rd Highest Percentage of Gains in History, No Alt Season?

  • Volatility is back with a bang.
  • On Wednesday, Bitcoin saw a drop of 12% then on Friday BTC recorded the 3rd highest percentage of gains at 42% in its history.

The last two times Bitcoin saw more than 42% of the daily gain, the flagship cryptocurrency was trading at $0.40 and $0.65.

With 42% gains, BTC recorded 3rd highest percentage of gain in its history. The largest 24-hour price fluctuation was 52% in January, while the second highest one was just a month prior in December 2017 of 43%. In September 2017, it was 40%.

As seen in this tweet,

This upsurge economist and trader Alex Kruger says wasn’t driven by moving averages, trend lines, Fibonacci, or the CME expiry. Such 42% outliers are the result of news like China President Xi Jinping embracing blockchain technology.

“President Xi is the true Crypto Dad,” stated Kruger. No matter the driving force behind this rise, the market is enjoying the greens.

Twitter CEO Jack Dorsey also took to Twitter to make a ‘buy bitcoin’ call,

No Alt-season This Time?

While the leading cryptocurrency is making historical gains, altcoins, though registering gains, they aren’t of that proportion. As such, BTC dominance has climbed back above 70%, from 67% on Oct. 25.

Source: Coin360

While sharing this update, prominent analyst PlanB, who is famous for his stock to flow approach to BTC price, took to Twitter to state,

PlanB further explained his reason for no alt season hashtag,

“IMO we are at war with the fiat money printers, and in that context I believe in concentration of assets. Only if we concentrate people & resources on btc, and don’t fall for divide & conquer tactics of our enemies, we have a chance to deploy btc sound money protocol.”

Bitcoin is currently trading at $9,208, as per Coincodex while managing the daily trading volume of $2.36 billion, up from $300 million earlier this week and $500 million from early in the day yesterday, on top ten exchanges with real volume.

Bakkt also made a new record of 1183 BTC on Oct. 25, up from 331 BTC changing hands the day before and the previous all-time high of 640.


SmartCoin® Benefits hugely from the recent sell off in cryptocurrencies posting 14.8% profit

SmartCoin® posts 14.8% Gains in September as the sell off triggers our short positions.

” After 7 weeks of relative little price movement, we reversed all our bets from long to short positions and these bets turned into hard cash after the hard sell off on Monday. We closed the month with 14.8% gains, and are awaiting signals regarding the movement, we expect a small rebound from this level, followed by another sell off flooring Bitcoin under the 7000 USD mark”

 

Smartcoin® is designed to provide modest returns, this past week highlights the importance of having short positions to buffer any falls in the market. for more information visit


SmartCoin

Best Bitcoin (BTC) Weekly Close of 2019 Bodes Well: Are You Strapped In for $13,000+ USD?

After an admittedly odd past few weeks of trading, Bitcoin recovered well enough to take its highest close of 2019 thus far.

Despite July and August seeming somewhat lackluster with plenty of flat action, the weekly close at just under $11,500 (Binance) suggests things are looking up. In tandem with the bullish weekly view, a report written by a Goldman Sachs analyst is gaining wide circulation and giving legs to the sentiment that we’re heading higher from here.

In the report, GS analyst Sheba Jafari makes a case for short-term BTC price targets of $12,916 and $13,971. Interestingly, Jafari arrives at those targets through the use of Elliott Wave Theory.

Elliott Waves Explained

It’s no secret that analysts adhere strongly to Elliott Wave Theory. Far from being a one-stop principle that explains everything happening in crypto trading, it does help us tackle the cyclical nature of markets.

Developed by Ralph Elliott way back in the 1930s, Elliott Waves describe the belief that price action plays out over observable patterns that repeat time and time again. In EW Theory, there are two types of waves:

1. Impulse Waves

2. Corrective Waves

Impulse waves are moves in the direction of the predominant trend, whereas corrective waves move against the trend. You can easily think of this by imagining BTC having a strong months-long uptrend, followed by a downward correction. The waves in-line with the uptrend are impulse waves, and those moving against it and pushing the price down are corrective ones.

It’s wrong to think that impulse waves can only correspond to moves up, however. Impulse waves are just about trends, regardless of whether they are up or down. A correction can occur to the upside, shaking out a downward trend. In that case, a corrective wave up would still be properly considered a correction.

Impulse waves move in packs of five, meaning you’ll always get five on-trend impulse waves before being hit by three corrective waves. That gives you a total of eight waves in a given cycle before the next trend takes hold.

Although EW Theory describes market action, it’s also an ace piece of psychological work. Traders’ emotions move in cycles of highs and lows. No one stays positive about a trend forever, and neither do they stay negative. The data which informs traders’ decisions and rationale shifts all the time, making it foolish to stick with any position dogmatically.

The cyclical nature between positive and negative/optimistic and pessimistic states of mind factors heavily into EW Theory’s own dynamic wave structure. Like the market, Elliott Waves never stand still. However, that doesn’t make them ideally suited to short time frame charts. Because Elliott Waves describe trends, they’re best applied to long time frames – especially if you’re just beginning to interpret the market with them.