View profile

Tales of Adoption, Theft, and Regulatory Developments Hit Cryptos

Revue
 
Welcome to the 45th issue of the QUANTAMIZE WEEKLY CRYPTO RECAP, your weekly roundup of all the crypt
 

Quantamize

May 10 · Issue #45 · View online
Quantamize Cryptocurrency Weekly Recap

Welcome to the 45th 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.


Are We Entering the Era of Wide-Scale Crypto Adoption?
Great Trades, Great Data, Always Free!
The Week in Review
What an interesting week it was in cryptocurrency markets as the price of Bitcoin (BTC) once gain displayed it trait as “digital gold”, rallying 8.50% since last Friday to trade just below $6,300. BTC’s rally comes in a week where 17 of the 20 largest cryptocurrencies by market capitalization were in the red. Binance Coin (BNB) was among the worst performing coins this week, falling more than 17% since last Friday to trade below $20. BNB’s underperformance follows a hack this week of major crypto exchange Binance, where hackers successfully stole $40 million worth of BTC from Binance hot wallets.  

Adoption was the mantra this week in the cryptocurrency industry following stories from the Wall Street Journal and Bloomberg. According to a report this week from the Wall Street Journal, Facebook is seeking $1 billion in funding to launch a stablecoin – the social media giant is already in talks with major payment providers Visa and MasterCard regarding support of the stablecoin. From Bloomberg this week, US investment firm Fidelity is set to launch BTC trading services for institutional clients within the coming weeks.  

Finally, the last story we want to touch on pertains to the US regulatory landscape. On Thursday, California Democratic Congressman Brad Scherman called on his fellow lawmakers to pass a blanket ban of cryptocurrencies. “An awful lot of our international power stems from the fact that the dollar is the standard unit of international finance and transactions,” explained Sherman, adding, “it is the announced purpose of the supporters of cryptocurrencies to take that power away from us.”

Of the 30 cryptocurrencies we model using AI and Machine Learning, 6 are 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 two times this week, most recently today. 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 61.55%
  • Bitcoin Cash (BCH) – Do Not Own with an accuracy rate of 67.38%
  • EOS (EOS) - Do Not Own with an accuracy rate of 61.57%
  • Ethereum (ETH) – Buy with an accuracy rate of 58.82%
  • Ethereum Classic (ETC) - Do Not Own with an accuracy rate of 62.71%
  • Litecoin (LTC) – Do Not Own with an accuracy rate of 65.69%
  • Ripple (XRP) – Do Not Own with an accuracy rate of 61.06%

Great Trades, Great Data, Always Free! Click Above!
Overall Bitcoin (BTC) Sentiment Drops Following Binance Hack, Network Fairly Valued
Hashrate vs. Daily Transaction in Top Cryptocurrencies
Great Trades, Great Data, Always Free! Click Above!
Novogratz Sees Bitcoin Struggling at $6,000 Before Moving Higher
BitFinex/Tether Controversy | CNBC Crypto Trader
Should Investors Move To Bitcoin Or Stick To Gold?
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