We have put together basic support/resistance lines for Vertcoin. We will get all the disclaimers out of the way!
1) We have decided to plot these charts in USD/Vertcoin charts vs. the Bitcoin/Vertcoin pairing. The reasoning behind this decision is that we see more stability in the USD pairing. While we do monitor the Bitcoin pairing and factor it into our analysis, as time goes on it's effect will continue to diminish.
2) This isnt financial advice! Don't bet the farm, Dont make any bets in the crypto space unless you speak to qualified advisers and read up as much as possible to make an informed decision.
Our opinion on Crypto currencies are that they are a great social experiment. Unfortunately the government hates competition and at some point they will respond to this underground currency economy. Remember that saying 'Nothing is certain but death and taxes'.
3) Yes we are long in #Vertcoin
~~~~~~~~~~~~~~~~~~~~~~~~
What we think
Our outlook for Vertcoin is very bright as a stand alone Crypto currency. We believe that the continued division that is occurring within Bitcoin sphere will push many developers towards other currencies. Specifically those without histories of "destiny" forking splits that create new coins (variants). Vertcoin's development efforts of the stealth addresses will be an attractive lure for crypto enthusiasts. When Vertcoin was created in 2014, the developers were very mindful of the existing and possible future problems of Bitcoin. ASIC resistance was the key feature that won our hearts over. The mining stability that this creates will make for a very unified mining community and a relatively fair playing field. In our opinion we think that Vertcoin may be the most stable coin of its time due to its development mandate of ASIC resistance and upcoming features (Atomic & Stealth). Time will tell.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Outlook for the next few days
Vertcoin should remain range bound for the next few days or even weeks. The explosive moves that just occurred over the past week (from 1 to 5 dollars) needs time to be digested. We would believe we will see it flux within 4.72 - 5.47. We would be concerned if Vertcoin has a larger breakout higher without first absorbing the initial run. A premature breakout may lead to a devastating correction and price collapse. Not fatal of course, but harming its healthy momentum for the long run.
We have been working on plotting future resistance levels above historic highs using our Tony's algorithms but those will be posted on a separate chart later.
1) We have decided to plot these charts in USD/Vertcoin charts vs. the Bitcoin/Vertcoin pairing. The reasoning behind this decision is that we see more stability in the USD pairing. While we do monitor the Bitcoin pairing and factor it into our analysis, as time goes on it's effect will continue to diminish.
2) This isnt financial advice! Don't bet the farm, Dont make any bets in the crypto space unless you speak to qualified advisers and read up as much as possible to make an informed decision.
Our opinion on Crypto currencies are that they are a great social experiment. Unfortunately the government hates competition and at some point they will respond to this underground currency economy. Remember that saying 'Nothing is certain but death and taxes'.
3) Yes we are long in #Vertcoin
~~~~~~~~~~~~~~~~~~~~~~~~
What we think
Our outlook for Vertcoin is very bright as a stand alone Crypto currency. We believe that the continued division that is occurring within Bitcoin sphere will push many developers towards other currencies. Specifically those without histories of "destiny" forking splits that create new coins (variants). Vertcoin's development efforts of the stealth addresses will be an attractive lure for crypto enthusiasts. When Vertcoin was created in 2014, the developers were very mindful of the existing and possible future problems of Bitcoin. ASIC resistance was the key feature that won our hearts over. The mining stability that this creates will make for a very unified mining community and a relatively fair playing field. In our opinion we think that Vertcoin may be the most stable coin of its time due to its development mandate of ASIC resistance and upcoming features (Atomic & Stealth). Time will tell.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Outlook for the next few days
Vertcoin should remain range bound for the next few days or even weeks. The explosive moves that just occurred over the past week (from 1 to 5 dollars) needs time to be digested. We would believe we will see it flux within 4.72 - 5.47. We would be concerned if Vertcoin has a larger breakout higher without first absorbing the initial run. A premature breakout may lead to a devastating correction and price collapse. Not fatal of course, but harming its healthy momentum for the long run.
We have been working on plotting future resistance levels above historic highs using our Tony's algorithms but those will be posted on a separate chart later.
