Is this the bull trap which is going to be followed by another crash? Most likely not. Bitcoin BIP 91 has activated and the market seems healthy. The last cryptocurrency crash happened unexpectedly to many investors and as plan of many was to wait until few days before 1st of August to buy coins in discount, the plans have been ruined with the recent market resurrection. Therefore, I put together a list of top 50 coins by market cap and made a comparison with historical prices.
June 6th - Bitcoin chasing $3000
On June 6th, Bitcoin was chasing value of $3000, the market was optimistic and full of hopes. Therefore, this is the first date to compare prices with actual prices. I am going to interpret the charts from my perspective, but feel free to give your opinions in the comments below. Higher the negative percentage, higher the change the coin will bloom again and provide nice profits:
I am not going to comment on the coins themselves, rather give some comment of what to be aware of. First of all, I would advise to ignore recent ICOs, as their price and future is unpredictable. This is due to the ICO hype of the last month, when large amount of money was invested into new projects with basically no backing of the product itself. Rather, choose coins, which have your trust and if you have already invested in these and you are in deep red, this is a great time to reinvest in these again, as these are a bargain in the moment.
July 14th - few days before the last crash
This is one of the ways how to look into potential investment, this is rather for longer holding of the coins, for shorter gains, it is healthier to check the prices before and during the crash, to see, which coins have not recovered yet:
As short-term gains are always riskier than long term holding, be cautious in which coin you want to put your money into. You can shoot to the moon, but you can also loose most of your value. When you invest short term, use Stop Loss strategy in the minimum. I would strongly advise to not put money into coin in which you do not believe yourself. Take this as a lead to do more research. This will cut your time to investigate coins, which have already recovered and you can only research coins with the highest theoretical potential to grow again.
July 16th - The crash of the crypto market
The last comparison is with the recent market crash on the 16th of July. Many of us have probably missed this entry point into the market so we can at least see, which coins are still waiting for the recovery and also provide easy potential gain:
As we can see, most of the coins are already rising from the last crash, but we can still pick up some great coins for quick gains. Do your own research and invest your money carefully. This comparison is here to help you to pick the highest potential coins and it is all up to you in which way you want to go. If you believe your coin and all the three columns are in green and slightly rising, go for it!
And how am I going to use this sheet for myself? I have already done my research, I know which coins I want to invest, but I was waiting for the expected crash before the 1st of August and missed it. This doesn’t mean, that I (or we) missed much. Have you guys bought coins during the June hype? This is great time to re-buy the coins and to reinforce your profits. Buy coins which you believe in and you will do great!
Thanks dude gave you a 10cent boost :D - From Crypto Collective Facebook. I was actually thinking about how do I get this info.
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Great analysis! Did you manually put this together?
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Thank you! Yes and No. I made myself an Excel sheet which automatically updates the latest prices of the currencies and compares them with the ones I find interesting, which I had to input manually. From now on I plan to save daily prices to automate my comparisons.
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Dude that's awesome.. how do the automatic updates work? via some kind of API?
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Did you said you a have an Excel file that updates latest prices? I need one. I was in the way of making one, but all tutorials are around google sheets and I'm stuck with processing JSON's natively in Excel. I need to VBA all that work. But if you have one and could give me I would be very greatful. BTW I'm in Suppo group as ncduarte.
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I take the prices out of coinmarketcap API, in the moment I take them out of individual coins seperately and am not 100% happy with the performance. However, I have another idea and when I pull that out and become happy with the outcome, I will share. Follow me up and you won't miss it.
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@thetop how do you get the prices automatically into excel?
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Nice work, followed and resteemed for you.
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Thank you, I truly appreciate it!
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Didn't want to share? :)
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Thanks for the analysis. I'll do my own due diligence, but it does help me to hear it from a second source.
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Feel free, seems like you understand the article really well, because that is something I tried to explain. I give you clues, but the research is on each of us.
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Cloackcoin?
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Cloakcoin was not taken into account, as I focused on comparison of the top 50 coins by marketcap. Maybe when I increase the scope of my excel file.
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This is pretty impressive. I've been trying to set one up but it's all manually done and takes a lot of effort. I'm gonna follow you and your updates. Thank you for this post.
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Thank you!
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Awesome stuff - thank you for putting this together. Do you have a link to view the doc itself (maybe I'm missing it)? Or should I just go off the pictures? Thanks again for doing the leg work!
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Hi and thank you, in the moment I don't have a link as I have an idea how to make this file in more efficient way. Later, when I figure out and happy with the outcome, I will share.
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Awesome! Thanks! Could you make another sheet showing the other currencies in the top 50 you didn't feature yet? These kind of sheets are really help full and nice to share with each other. I am working on comparing all cloudmining services (by testing them all) and will share a sheet soon. Also exchange comparisons, wallet comparisons, lending platform comparisons etc. Hope we can help eachother ;)
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Do not cloud mine, you'll be happy to even break even.. much better to buy into the currency instead and let it grow - I made the same mistake. I have more plans with this sheet, just lack of time is stopping me.
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Can I ask, how do you pull prices for each specific day like that?
upvoted for quality!
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For this specific sheet I took the historical prices manually, but I have some ideas how to pull them automatically. When I have some time, I will work on that. You can follow me up for newer releases :)
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Thanks!
Although we did miss a lot. Could have had had Stratis at £2.30 and x2 your money every $2.30 rather than $6-7 which it is now
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We are always going to miss, the market is unpredictable in the moment, all we can do is analyzing it and do qualified guesses to get the best outcome, this is part of the analysis.
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