decisions Archives -
If knowledge is power, today’s traders are stronger than they’ve ever been. The range and function of analytical tools is improving by the day, presenting investors with a smorgasbord of options. Sites such as Onchainfx are continually adding new features, empowering traders to make more informed decisions based on more data sets.
Also read: 8 Alternatives to Coinmarketcap
Today’s Investors Have an Enviable Suite of Analytic Tools
From technical analysis to fundamental analysis, the best traders leave no stone unturned in their quest to find hidden gems. Low market cap coins with a solid development team; tokenized projects with the potential to 10x; altcoins that have been unfairly pummeled and are due for a rebound. All this, and much more, can now be gleaned in little more than a few clicks. There’s no need to connect to APIs and painstakingly perfect spreadsheet formulas, for the best online toolkits do it all.
Onchainfx is the jumping off point for many researchers. Altcoin information such as 24-hour transaction volume, number of transactions per day, NVT ratio, fees, and short-term ROI can all be viewed by enabling the appropriate checkbox in the right hand margin. You can then click on a column to filter results based on the metric you’d like to measure. This week, Onchainfx upped its analytics game by adding data for Github repos. It’s possible to filter coins based on the number of Github stars, watchers, commits, lines added, and lines removed. Now lazy altcoin devs have nowhere to hide.
Previously, the only place where this information could easily be compared was on Cryptomiso. According to Onchainfx, the busiest crypto project over the last 90 days has been Lisk (1,620 commits), followed by Tron (1,240) and EOS (1,032). The less said about Dogecoin’s Github activity the better. For anyone who places a lot of weight on Github ratings, Darpal Ratings delves into these in much greater detail.
Live Coin Watch Demystifies the Data
Live Coin Watch is another up and coming site making data sexy. The best thing about the cryptocurrency tracker is its customizable layouts. At the toggle of a button, you can view which coins are down the most percent from their ATH. Combine that with data on a coin’s Github activity, or price based on BTC normalized supply, say, and you’ve got a ready reckoner for which alts are unfairly cheap.
For more serious traders, who thrive on log charts and rolling correlations of daily returns, Coinmetrics.io is the only tool that counts. It’s not the easiest platform to master, but the knowledge it bestows upon those diligent enough to put in the time can make the toil worthwhile. Even the simpler charts Coinmetrics cooks up, such as a retrospective of the times bitcoin’s RSI exceeded 75, are fascinating.
After the fact, all sorts of patterns become clear showing when markets were blatantly overbought or oversold. Discerning that at the time though, and using it to guide future trading decisions, is harder than it sounds. In the current market conditions, altcoin trading is a hazardous pastime. But as news.Bitcoin.com noted in last week’s podcast and Sunday round-up, it’s a great time for building and learning. The tools you add to your arsenal now will prove invaluable when the time comes to intrepidly venture into the altcoin markets once more.
What’s your favorite site for cryptocurrency research? Let us know in the comments section below.
Images courtesy of Shutterstock, Coinmetrics, Onchainfx and Live Coin Watch.
Why not keep track of the price with one of Bitcoin.com’s widget services.
The post New Tools Help Crypto Traders Make Smarter Decisions appeared first on Bitcoin News.
Both of California’s health insurance regulators said they will investigate how Aetna Inc. makes coverage decisions, as the lawsuit of a California man who is suing the nation’s third-largest insurer for improper denial of care heads for opening arguments Wednesday.
The Department of Managed Health…
South Korean banks have backtracked from their decisions to stop servicing cryptocurrency accounts as crypto investors protested and the government re-discussed its policy. The country’s 6 major banks have been told that they must follow through with the original plan and install the system that would end the anonymous trading of cryptocurrencies.
South Korean banks have reportedly reversed their decisions to stop servicing cryptocurrency accounts. “They will stick to their initial plans to allow clients to open accounts for cryptocurrency transactions using their real names within the month,” Korea Joongang Daily reported.
The original plan has been for banks to stop issuing virtual accounts and install the new government-mandated, real-name identification system. From that point on, they would only issue real name accounts. This new system is expected to be introduced around January 20.
The news outlet detailed:
The country’s financial regulator has pushed banks to stop opening new accounts until they establish a way to verify that the accounts bear the real name of the customer, to prevent money laundering.
Last week, the regulators began inspecting the country’s 6 major banks to ensure they have fulfilled their anti-money laundering (AML) obligations with regard to virtual account services, as news.Bitcoin.com reported.
While the inspections will not conclude until January 16, some banks decided to pull out of servicing cryptocurrency accounts “due to strong pressure from financial authorities” and criticism that “banks are supporting virtual currency transactions,” Money Today described.
The regulators then informed the 6 banks that their decisions regarding whether to service crypto accounts do not have any bearing on their obligations to install the new real-name system. As such, banks agreed to install the new system as planned. The Korean Financial Services Commission (FSC) said Sunday, as reported by Korea Joongang Daily:
Banks will open new accounts after it [FSC] releases guidelines about avoiding money laundering.
Shinhan Bows to Investor Complaints
Among the banks that decided to stop servicing cryptocurrency accounts was Shinhan Bank. A letter regarding this decision was immediately sent to the crypto exchanges currently using the bank’s virtual account services, including the country’s largest exchange Bithumb.
Following the bank’s announcement, “some Shinhan users – possibly bitcoin traders – threatened a boycott of the bank,” the publication noted. Yonhap elaborated:
After the news was announced, investors rebelled and the financial authorities decided to re-discuss the policy when they asked for a real-name confirmation service.
Shinhan Bank subsequently reversed its decision, stating that the bank will review its virtual account opening policy and “will allow deposits to existing virtual accounts for the time being,” the news outlet detailed.
Korea Joongang Daily added, “Shinhan Bank notified major local cryptocurrency exchanges such as Bithumb and Korbit that they should come up with measures to get rid of existing anonymous accounts.”
While it remains possible for Shinhan Bank users to deposit into existing virtual accounts, the government announced on Sunday that anyone doing so would face a fine once the real-name system is implemented.
What do you think of banks reversing their decisions on crypto accounts? Let us know in the comments section below.
Images courtesy of Shutterstock and Shinhan Bank.
Need to calculate your bitcoin holdings? Check our tools section.
The post South Korean Banks Reverse Decisions on Cryptocurrency Accounts appeared first on Bitcoin News.
The winner of the Nobel economics prize says the most important impact of his work is “the recognition that economic agents are humans” and money decisions are not made strictly rationally. Richard Thaler , of the University of Chicago, was speaking in a phone call to a news conference immediately after…
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The U.S. Environmental Protection Agency backed away from tough restrictions on how pesticides can be used while honeybees are pollinating crops, and it declared that three of the pesticides most closely associated with bee deaths are safe in most applications.
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Asian markets mostly rose on Wednesday as the Federal Reserve prepares to wrap up a key policy meeting, while Tokyo rallied days before an expected Bank of Japan stimulus announcement. The Federal Reserve concludes its meeting Wednesday and while it is not expected to announce any new policy, dealers are keen to find out its appraisal for the US economy and plans for interest rates in light of a string of positive data, including on jobs. "In all likelihood, the Fed may take a cautious stance highlighting Brexit concerns, but there is certainly some scope for (it) to lean hawkish," said Stephen Innes, senior trader at OANDA Asia Pacific.
In the 1980s classic movie “Ferris Bueller’s Day Off,” Ferris says to his friend, “Life moves pretty fast. If you don’t stop and look around once in a while, you could miss it.” He’s referring to the craziness of everyday life and taking time to live in the moment and enjoy life. But this also…