Premium Daily Crypto Newsletter

September 18, 2018

Crypto Market Commentary

Mav's Daily Commentary

Markets Rebound As XRP Leads Pack

Still A Very Boring Market

After languishing yesterday, today we saw the market fighting to get back to previous levels, coming just shy of the market cap from Sunday.

The standout winner today was XRP (Ripple), which posted a 19% gain.

 

So what’s going on?

 

A Ripple executive hinted that their xRapid product will go live soon.

 

What’s the big deal about that?

 

Well, for one, product releases and updates for cryptos in the top 10 are much more likely to move market numbers than smaller numbers. Ripple is the third largest cryptocurrency out there and currently holds 6.45% of the total market. While that doesn’t seem like much compared to the massive 55.2% Bitcoin has, we can see that it stacks up against Ethereum’s 10.79%, Bitcoin Cash’s 3.81%, and Litecoin 1.79%.

 

So, when one of these coins starts moving, especially in a low-volume, downturn market, it can shake things up. Furthermore, as we covered yesterday, the drop was predicated on overblown fears that have very little effect in the present.

 

The second thing to note about this announcement is that xRapid is a very different product than xCurrent.

 

For those unaware, Ripple’s partnership base (and why those in the Ripple community hail it as a surefire winner) is based around their xCurrent product.

xCurrent is an enterprise software solution that enables banks to instantly settle cross-border payments with end-to-end tracking. Using xCurrent, banks message each other in real-time to confirm payment details prior to initiating the transaction and to confirm delivery once it settles.

 

But here’s the thing: xCurrent does not use XRP, Ripple’s currency.

 

That’s where xRapid comes in.

 

Both xRapid and xCurrent are meant to expedite and improve international money transfers, but the key thing to note is that xRapid uses XRP.

 

The more partnerships Ripple adds to xRapid, the more companies will be using XRP. Ipso facto, XRP’s price goes up as demand and use goes up.

 

Soon, we could very well see XRP transactions between two international banks. One bank would send fiat, which using xRapid is converted into XRP, sent to the other bank, and converted back into their native currency.

 

As XRP is sent near instantaneously, the transaction times would come down and help the bank’s bottom line.

 

“I am very confident that in the next one month or so you will see some good news coming in where we launch the product live in production,” Ripple’s Sarbhai said of xRapid.

 

Sarbhai said he believes the tide is changing:

“A couple of years ago the narrative was blockchain good, crypto bad. But I think what we’re now seeing is that more and more regulators are taking the whole space in one conjunction [sic]. You cannot have runways built without airplanes… [T]hat narrative is thankfully changing and policymakers are recognizing there is a strong benefit that digital (crypto) assets bring.”

 

While Ripple has never been one of my favorite coins due to its heavily centralized nature and possible security status, it cannot be denied that this is a big step for Ripple and crypto as a whole. While Ripple’s future is both promising and potentially troubling, it certainly will help the overall space as a stepping stone towards more institutional adoption.

 

It’s no wonder why some on the forums refer to XRP as the “gateway drug” for big banks into crypto.

 

One other thing that I’d like to cover today is a hypothetical.

 

I’m sure many reading this unfortunately bought in at the high in December and January.

 

After 9 months, I’m sure it has been a source of frustration, especially when the common rhetoric is motivational speeches, promises of bull markets, and that institutional investment is “inevitable”.

 

I’ve spoken to many who are just looking to break even on their investments in crypto, or even have sold out at the bottom. It can be bleak to look ahead at our uncertain future and wonder if we’ll ever see this space regain the heights we temporarily achieved.

 

My purpose here isn’t to sell you “hopium”, it’s to encourage you to have rational thoughts about the multiple possibilities that lay ahead of you. At the minimum, the market will do one of three things: go up, go down, or go sideways. What is the probability that it will go down forever?

 

Well, if there’s nothing to show for this space, quite likely. But that’s not the case. As we’ve seen even today, there’s progress and work being done. If anything is “inevitable”, it’s that we’ll continue to innovate.

 

What’s the probability it will go sideways forever? Not likely as that would indicate there is a neutrality between buyers and sellers and that the market is truly dead.

 

What’s the probability it will go back up? By some simple mathematics, quite likely. The deflationary aspect of Bitcoin compared to the literal infinite supply of fiat currency, combined with an upcoming BTC mining reward halving event, gives us a very likely chance of seeing a rising price of BTC over time.

So, what’s the takeaway?

 

If we do see BTC at $20,000 again, I won’t be eager to cash out. Instead, I’m more prone to wait and watch. Otherwise, if I sold out just to break even, all my waiting would be in vain.

 

 

Doc has started to do a frequent live “Trade School” video; watch for announcements and links in the “Premium Chat” room of our Discord site. 

If you missed Mav’s webinar “Top Ten Ways to Create Passive Income With Crypto” then you can watch the webinar at this link

We’ve started to produce episodes for The ReadySetCrypto Podcast; all of our episodes are posted on our blog (and on iTunes) and Episode Thirteen is now available. Episode Thirteen is our interview with the CEO of Internxt about his upcoming beta of distributed storage services using Xcloud. (like a Dropbox). Look for more episodes shortly as we comb the crypto space for valuable interviews, and create valuable content to keep you in the loop!

See you tomorrow!

Doc's Daily Commentary

Our Weekly Premium-Only Livestream

Our next scheduled Premium-Only Livestream is scheduled for 19 September 2018 at 8 PM EDT (UTC/GMT -4 hours). Watch below for new link. Doc has also been doing a daily “Trade School” video with links in the Premium Chat room of the Discord page.

Our Public Livestream

New to Cryptocurrencies? Check out our archived classes “Intro to Cryptocurrency Trading”, “How to Find Your Next Big Cryptocurrency: Intro to Fundamental Analysis,” Mav’s  class on “Security and Wallets” and Doc’s classes, “Introduction to Technical Analysis” and “Short Term Trading Strategies” which are now all available for immediate purchase in our Store, and seconds away from viewing in the Premium Member’s Home. View more about them at our online store by CLICKING HERE.

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Offense – Adding Trades

Offensive Actions for the next trading day: 

  • Potential swing trades showing on ETP/BTC, DOGE/BTC, and ETH/USD; please view today’s video for setup information.
  • If the $100 support level holds we’ll look to add XMRUSD to our managed portfolio.

Defense – Managing Risk

Defensive Actions for the next trading day: 

  • None.

RSC Managed Crypto Fund

[visualizer id="72847"]
How to read this portfolio: Please read through the FAQ tab

  • ETH/USD 2% added 8/10/2018 @ $363.14
  • ETH/USD 2% added 9/9/2018 @ $200.50 (10% more to add)
  • LTC/USD 2% added 8/10/2018 @ $62.56.  (6% more to add)
What is the RSC Managed Cryptocurrency Fund?: We have one goal: To beat the market. To do this, we aim to balance risk vs. reward. Additionally, we aim to enter positions advantageously and in small increments, not all at once. As such, the pie chart you see above is representative of our “expected” portfolio, but will likely not match our “actual” portfolio. Why don’t you just buy into every position at once?: We aim to not only beat the market, but do so in a way that allows us greater leverage than simply buying in all at once. To do this, we will DCA into our positions to lower the average buy-in, and allow us greater yield from our initial capital seed. This also allows you the flexibility to follow our documented moves or immediately buy in when you want. We expect this will help you follow along easier as our moves are more deliberate. By setting targets for allocation, you know exactly how we intend to diversify our portfolio. Why are you only targeting large caps? Where is ____ coin?: We are targeting large market capitalization coins regardless of our belief in their viability as this enables us to diversify our risk and improve our chances of staying positive. We can hedge our bets by creating a fund that incorporates all of the major assets yet distinguishes between them based on the allocation. For example, we allocated more to Ethereum over its competitors as we feel it has more built-in longevity given its status as the default ICO platform. Of course, that can change, and as such we will be periodically rebalancing this fund as we redetermine viability and yield. Can I invest in this fund / can you manage my funds?: Not at this time. We are looking for ways to legally tokenize a fund such as this, but at this time no avenue exists for US citizens. Will we be adding small caps / ICOs?: It is likely we will be starting a separate fund dedicated solely to small caps / ICOs. We feel that the market simply isn’t showing favorable risk / reward signs for us to be trading them right now, but that will likely change soon. Why was the previous portfolio discontinued?: We felt it wasn’t correctly connecting with our customers as we started it in late 2017 and even during the 2018 bear market we were still very profitable. The same could not be said for customers who joined us during the bear market and tried to replicate our portfolio. Simply put: we wanted a portfolio that was easier to follow along with and less risky for our customers while still aiming for profitability.

Click on image to download the datasheet

RSC Altcoin-Exclusive Crypto Fund

[visualizer id="74717"]
What is this? The RSC Altcoin Fund is meant to replace our V1 portfolio. This portfolio, referred to as Portfolio V3, will represent a portfolio that is built upon more risky assets (assets outside the top 20), and is inherently more risky than Portfolio V2, the RSC Managed Crypto Fund (above). We will NOT be actively entering positions for this fund, but we will be updating the portfolio percentages and contents periodically.

Click on image to download the datasheet

Click on the image to download the TXT file

 

Technical Analysis Research

Today was about “framing” in the price action to create decision points for whether the price is going higher or lower in the near term. This is important so that we don’t cop a bias as the “range contraction” of BTC is foreshadowing a relatively big move going forward.

 

 

In August we introduced a new “fund” project that we’ll be creating over the next few months, in piecemeal form. I will be slowly and methodically creating a “fund” with (currently) 23 assets that we will do “live” or at least very plainly indicate where we intend to enter portions of assets.   As long as the market continues grinding down in a bear, we will use sentiment-based entries to hopefully secure a better entry.  All that I saw were bear flags tonight; we are close to some good entries on coins showing positive divergence on the RSI.  Going forward into the end of this year my plan is to do a LOT more swing trading; what would really help is a decent derivatives exchange. I am looking for big things from Digitex in this regard, which will be a commission-free futures platform however all trades must be made in DGTX as the base currency. Put yourself on the waitlist for this platform by clicking here. I have started to acquire DGTX tokens at Mercatox in anticipation of them turning up their platform, and this looks to be a good candidate for a pump prior to the production event. Here are the recent swings that we’re tracking in the portfolio below; :

  • DGB/BTC – long @ .00000608 (7/23). My target exit is .000008BTC.
  • WTC/BTC – Long @ .00155980BTC (4/23). My target exit is at .002BTC.
  • ADA/BTC – Long @ .00003931BTC (5/1) My target exit is at .00005BTC.
  • ONT/BTC – long @ .0008905 (5/20) My target is .0013BTC.

Please keep in mind that if you want to follow these trades, I am using FIXED RISK POSITION SIZING. This means that I am using a fixed amount of risk capital that is based on my account size, like 2%. I am assuming that the trade will burn to the ground and that I will lose that entire capital position! Only in this manner can one effectively manage a position the way that you have to. If you’ve every checked your blockfolio nervously every 5 minutes when you’re underwater, this will prevent that.   I will track these positions in this area and not in the main portfolio section. I will use a public portfolio tool to do so, which you can access by clicking below:

Public Swing Portfolio Link

I hope you all got a chance to catch my webinar class from earlier this year; if not, the replay is available here.  If you missed my earlier webinar, “More Profits in 2018; Ten Ways to Chart Like a Pro.” then you can catch the replay here.   My new class “Introduction to Technical Analysis” is now available via our online store.

If you go to buy any of our courses at our online “store” you can receive $10 off the street price with your member’s “coupon code” of member18crypto..

We’ve started to do some swing trades on alts, tracked in the previous section. I am mostly focusing on the top 10-20 coins for now until we confirm that we’re back into an overall bull market.
I am doing the majority of my Technical Analysis work on TradingView, and I have a BitFinex app on both my iPad and Android smartphone. All of these charting platforms call a TradingView API. TradingView is the 800 lb. gorilla in the Crypto charting space until the “established” players want to make a go at Crypto, like Ninjatrader, Tradestation, eSignal, Sierra charts, etc. My sense is that TradingView has such a head start that it will be very difficult for the big boys to make a dent in this space for a while. Until that point, TradingView has almost a monopoly in this space. If you have a particular tool that you think is superior, please let me know.   You can access the BitFinex and TradingView platforms for free, however there are some paid features that you might want to consider depending on your needs, such as expanded watchlists, different study sets, account alerts, etc.

 

  Coinigy is a great tool for determining prices on each exchange, however I may not have access to the full suite of tools on TradingView charts. I am currently not using it as a front-end GUI for my exchanges, which it supports.I also use Blockfolio and/or Delta to give me a quick snapshot of my holdings, and find that it does an excellent job to aggregate all of my holdings into one easy-to-read snapshot of my cryptocurrencies, which are typically located in many different places.

 

I am also trialing the Profit Trailer and CryptoHopper trading apps which are working well in this choppy market.

Fundamental Currency Research

In this section we’ll feature a daily ICO or new coin we think you should check out. Based on your country, you may not be able to participate in the ICO, but you will be able to trade the coin once it is listed on an exchange following its ICO (usually only a couple of weeks). ICOs are where a lot of money in crypto is made. Here’s proof.   That said, we should warn you: ICOs are highly risky endeavours and you need to mitigate any potential losses. Treat it as money you’ve lost the moment you contribute to the ICO. We are not responsible for the ICO’s performance. Today’s featured ICO / New Coin is:

Bgogo Exchange

For flipping Good.

For long-term holding Neutral.

What is it? 

What is our verdict? 

What we like: Supernodes are very interesting. No trading commissions for users.

What we don’t like: There are many exchanges already on the market. Transaction mining isn’t currently solvent.

  • Project name: Bgogo Exchange
  • Token symbol: BGG
  • Website: https://bgogo.com
  • White paper: https://bgogo.com/assets/white-paper/BGG-Token-Whitepaper-v1.8EN.pdf
  • Hard cap: 17,000 ETH (15,000 ETH during private sale and to supernodes, 2,000 ETH during public sale) for 10% of total tokens
  • Conversion rate: Private sale: 1 ETH = 66,666 BGG; public sale: 1 ETH = 69,999.3 BGG.
  • Maximum market cap at ICO on a fully diluted basis: $51 million based on current ETH price of $300
  • Bonus structure: Whitelisted public sale participants have a 5% bonus over the private sale price, with no lockup period.
  • Private sale: The private sale has already been completed with 10,500 ETH raised from 21 supernodes and 4,500 ETH from strategic investors.
  • White list: Bgogo’s public sale will be a Genesis Mining event (exact date to be confirmed) that will start 24 hours before mining is officially opened to the public. Only whitelisted users can participate. Details on the Genesis Mining event can be found here: https://bgogo.com/announcement?link=mining.
  • ERC20 token: Yes (will be switched to native tokens when the mainnet is launched)
  • Countries excluded: TBA
  • Timeline: TBA
  • Token distribution date: TBA

Website: https://bgogo.com

Whitepaper: https://bgogo.com/assets/white-paper/BGG-Token-Whitepaper-v1.8EN.pdf

2017- 2018Q2 Portfolio (Discontinued)

Desired Holdings

  How to read this portfolio: Please click on the Chart Key tab above for definitions and color codes. The colors correspond to our 7 categories in the graphic below.

Tier 4

ZIL

IAM

FT

DATA

ELEC

None.

Tier 2

MOD

 Tier 3

REQ

SUB

LINK

NANO

KNC

Tier 4

BNTY

TAU

WISH

PHR

LOCI

XBY

ELA

ECC

POE

HPB

BIX

EVE

XVG

NULS

DNA

How to read this portfolio: Ticker: Contains the ticker code for the coin. You can search this ticker in Coinmarketcap to learn more about the coin. The color denotes the risk tier by our evaluation. Dark Red = T1, Dark Green = T2, Dark Blue = T3, Light Blue = T4 (Colors in the Ticker column do not interact with the colors in the other columns) Cost Basis = Our average purchase price for this coin. Current price = The average price of the coin based on the exchanges it is listed on. Strategy = What we plan to do with this coin. Staking is receiving dividends for that coin. Master node is also staking, but with a higher return rate for having a (large) number of that coin. Stop = Our exit point, if it exists What do the colors mean? The colors in the ticker column represent the risk profile of that coin. The colors in the other columns reflect what sector(s) that coin belongs to. Some coins belong to multiple sectors, which is indicated by multiple colors. The colors correspond to our 7 categories in the graphic below

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