EOS launches out of support on record volume
Booyah!
EOS is on fire - up 152% over the past two weeks. Block.one announced they will be reinvesting one billion dollars of ICO proceeds in Dapp developers and expect 1000 Dapps to launch simultaneously with the chain next year - wouldn't surprise me with that kind of money being thrown around either!
Block.one was under no obligation to contribute anything to the project (beyond developing the chain itself), so this is great news. Block.one means business. The only thing better than seeing this thing succeed and making a mozza is going to be watching all the nay-sayers and FUD spewers eat their hats or pretend they never said shit.
Let's take a look at the chart:
Wednesday saw a massive rally to two month highs on record volume. Pair consolidated on Thursday, but managed to close a little higher, before setting a new two month high again on Friday. Pair is likely a little over extended and momentum has dropped off, though the bulls don't seem quite ready to give up just yet either.
Let's drill down for a closer look:
As you can see, sellers have had a quite a few opportunities to push the pair lower, but have chickened out each and every time. Pair could still correct lower, though I think as long as $1.15 holds, risk is tilted firmly to the upside. If $1.15 goes, a correction towards the top of the breakout zone at 90c is likely.
That's me for the day folks, will update on Bitcoin tomorrow. In case anyone's wondering, I closed my maniac short position for 100 points last Friday. Thank fuck I did too, because if I'd held that over the weekend, I probably would of wound up in debt to my broker on Monday morning.
On that note, I'd just like to remind all my followers that though I am quite open about my positioning, my Steem posts are in no way intended as investment advice or a signal service - like most traders I get about half my trades WRONG and sometimes I might not post for a week and then just post some stupid photo of a fruit salad. Please do your own research, only trade with money you can afford to lose and if you don't know what you're doing, don't even think about shorting bloody bitcoin!
Team Aus footer by the amazing @bearone
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This is going to be the biggest blockchain in history.
First coin to hit the trillion dollar market cap too!
I hope so!
good analysis, let´s see what happens ... every week many new coins are released as the ICO goes on. The next 3 months could easily go down before the true hype starts building up at the end of the winter.
Let's hope you are right. I sold a couple ETH worth of profits to throw into CDX and OMG (both down). I would love an opportunity to load up on more EOS.
Yeah this may well be a false start, but it is dramatically undervalued too. If you wait til the hype truly starts, you've already missed 500%!
https://steemit.com/eos/@daverex/eos-this-week
img credz: pixabay.com
Nice, you got a 8.0% @minnowbooster upgoat, thanks to @bulleth
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Shit. Its is good and bad news. Bought a chuck at .48 cents (bought first week of EOS crowdsale too) the other day thinking I'd buy more the next week for around the same price or lower. Checked the price a few days ago and was like WHAT! EOS is the game changer for high performance DAPPS. The space is so big I don't see this affecting ETH all that much since ETH is used so much for a payments currency. EOS is a different animal being highly scalable right out of the box. I read somewhere Dan said over a million transactions per second with Nasdaq trading speed. Game changer!
Yeah I have traded this shockingly TBH, right before the rally I both exited my margin long and sold my holdings at a substantial loss to pile into bitcoin. I figured I'd be able to ride the next wave on Bitcoin and come back a week later to the same entry price. Nope. Not doing that again. What I'm holding now, I'm holding indefinitely.
Can't believe I missed out on 150% unlevered here to chase 10% unlevered on BTC! Still made money, but damn. Would have made a mozza if I'd held on to my original EOS margin long.
It is the ........Underlay To the "carpet" my friend.........in a sense....it is what was supposed to Be and Now will and Can Be , it is EOS.
Thank You Kindly
I did buy 44 token back when its price soar 5 usd and I regret it. However if its price now will soar 300 usd mark I can tell I am still a lucky guy.
With 1 Billion tokens, doubt it gets that high - my price target is in the $20-$30 range based on ETH's market cap
good information. I hoop you upvote and following me.
wonderful post..thank you for shahring
its important news, thanks for sharing @bulleth