View profile

Crypto Bears Awake From Slumber

Revue
 
Welcome to the 43rd issue of the QUANTAMIZE WEEKLY CRYPTO RECAP, your weekly roundup of all the crypt
 

Quantamize

April 26 · Issue #43 · View online
Quantamize Cryptocurrency Weekly Recap

Welcome to the 43rd issue of the QUANTAMIZE WEEKLY CRYPTO RECAP, your weekly roundup of all the crypto news you need to know. At Quantamize, we are seeking to level the playing field for individual investors with AI-powered Multi-Factor models across multiple asset classes, including Cryptocurrencies. If you have any feedback on this weekly report please send us a note at suggestions@quantamize.com.

Every day at Quantamize, we track the top stories that affect cryptocurrencies and the emerging blockchain ecosystem. At the end of the week, we review all the news to give you a clear picture of what was most important.


VIDEO: Bitfinex and Tether Allegations Awake the Crypto Bears
Bitfinex and Tether Allegations Awake the Crypto Bears
Great Trades, Great Data, Always Free!
Great Trades, Great Data, Always Free!
The Week in Review
Cryptocurrencies appeared set to finish the week slightly higher before abruptly turning negative Thursday night as nearly all major coins are lower by double-digits since last Friday. Among the top 20 coins by market capitalization, Bitcoin (BTC) is the only one in the green for the week, up 15 basis points to trade just below $5,300.

The unexpected downturn in cryptocurrencies followed a report published by The Block late Thursday which highlights that Bitfinex, a large cryptocurrency exchange and the company behind major stablecoin Tether (USDT), withdrew nearly $90 million in funds from its cold wallet. Many crypto industry pundits are speculating that the withdrawal of funds could be in relation to the start of an investigation by the New York Attorney General into whether Bitfinex used USDT funds, which are meant to back the stablecoin, to cover an $850 million funding gap that resulted from losses at the exchange.

Of the 30 cryptocurrencies we model using AI and Machine Learning, 1 is positive for the week. Currently, 6 cryptocurrencies modeled by our Machine Learning algorithms are rated as “Buy”. Nearly all of these models have accuracy scores above 60%!

If you’re a cryptocurrency trader, Quantamize’s AI Machine Learning 3-Day Crypto Trading Signals were updated three times this week, most recently Friday. We model 30 cryptocurrencies and produce directional “Buy”/“Do Not Own” trading signals that help cryptocurrency traders navigate the crypto markets over the short term. You can find a screenshot of our Crypto Signals below. A few highlights include:

  • Bitcoin (BTC) –Do Not Own with an accuracy rate of 61.47%
  • Bitcoin Cash (BCH) – Do Not Own with an accuracy rate of 67.48%
  • EOS (EOS) - Do Not Own with an accuracy rate of 61.67%
  • Ethereum (ETH) – Do Not Own with an accuracy rate of 58.67%
  • Ethereum Classic (ETC) - Do Not Own with an accuracy rate of 62.83%
  • Litecoin (LTC) – Do Not Own with an accuracy rate of 64.73%
  • Ripple (XRP) – Do Not Own with an accuracy rate of 61.52%

Great Trades, Great Data, Always Free! Click Above!
Great Trades, Great Data, Always Free! Click Above!
Bitcoin Sentiment Improves while Network Value to Transaction Ratio Hits 1-Month Low
Cryptocurrencies Finish Week Broadly Negative as Bitcoin (BTC) Maintains Support and Edges Higher
Mining Profitability vs. Difficulty in Top Cryptocurrencies
Great Trades, Great Data, Always Free! Click Above!
Great Trades, Great Data, Always Free! Click Above!
Blockchain Capital Co-Founder On Blockchain Industry Applications
Cryptocurrencies: The New Global Financial System
Bitcoin Hits 2019 High Before Dropping Lower Again
Great Trades, Great Data, Always Free! Click Above!
Great Trades, Great Data, Always Free! Click Above!
Did you enjoy this issue?
If you don't want these updates anymore, please unsubscribe here.
If you were forwarded this newsletter and you like it, you can subscribe here.
Powered by Revue