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India May Ban Cryptocurrencies

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Welcome to the 44th issue of the QUANTAMIZE WEEKLY CRYPTO RECAP, your weekly roundup of all the crypt
 

Quantamize

May 3 · Issue #44 · View online
Quantamize Cryptocurrency Weekly Recap

Welcome to the 44th 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: India is Considering a Ban of Digital Currencies.
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The Week in Review
Cryptocurrencies are poised to finish the week broadly in the green with the price of Bitcoin (BTC) up 10.17% since last Friday to $8,801.54. Cosmos was the top performing major cryptocurrency this week, rallying 40.25% since last Friday to $5.02, meanwhile, Binance Coin lagged the broader cryptocurrency market this week only , rallying 1.91% since last Friday to $23.29

One of the biggest stories in the cryptocurrency industry this week came from India, as the country is considering a total ban of digital currencies, according to the Economic Times. As per the report, a draft bill titled, “Banning of Cryptocurrencies and Regulation of Official Digital Currencies Bill 2019,” is floating around several departments of the India government. The bill cites cryptocurrencies use in fraudulent schemes to, “defraud gullible investors,” as one of the major reasoning for the considered ban.  

Despite the 90% drop in cryptocurrencies over the course of 2018, an analysis by Fidelity Digital Assets suggests 22% of institutional investors already have allocations to cryptocurrencies. Even more interesting, Fidelity Digital Assets argues 46% of institutional investors believe digital assets SHOULD have a place in their portfolios. It is hard to believe this but institutional interested in Bitcoin and other cryptocurrencies did not wane during the recent “Crypto Winter”. Talk about a “Buy The Dip” attitude!

Of the 30 cryptocurrencies we model using AI and Machine Learning, 23 are positive for the week. Currently, 9 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 two times this week, most recently Wednesday. 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 61.46%
  • Bitcoin Cash (BCH) – Do Not Own with an accuracy rate of 67.13%
  • EOS (EOS) - Do Not Own with an accuracy rate of 61.85%
  • Ethereum (ETH) – Buy with an accuracy rate of 58.43%
  • Ethereum Classic (ETC) - Do Not Own with an accuracy rate of 62.91%
  • Litecoin (LTC) – Do Not Own with an accuracy rate of 64.77%
  • Ripple (XRP) – Do Not Own with an accuracy rate of 60.92%

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Active Addresses vs. Average Transaction Fee
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Nexo Weighs In on Tether and Crypto Market Landscape
Marjan Delatinne, At 2019 Penn Blockchain Conference
Chainalysis Now Monitoring 10 Cryptocurrencies
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