Weiss Ratings Reveals Top 8 Crypto Picks, Calls XRP, IOTA, NEO and Cardano ‘Absolute Steals’

Weiss Ratings is on a roll. In the midst of a new tweet storm, the company offers a look at eight of its top crypto picks in the current market.

The ratings agency, which has provided market research and analysis for consumers and businesses for more than four decades, says four coins in particular are “absolute steals.”

Weiss also points to Nano, Basic Attention Token, Stellar and EOS as four additional coins that it believes have a lot of potential.

The recommendations came alongside the agency’s bold prediction on the future of Ethereum and Bitcoin.

The company says it expects Ethereum to take a huge bite out of Bitcoin’s market share in the next five years.

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Author: Daily Hodl Staff
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Indicators Signal Possible Bitcoin Reversal

It seems that Michael Novogratz’s analysis of the new Bloomberg Galaxy Crypto Index (BGCI) chart is not the only indicator pointing to a possible end of the bear market in bitcoin.

One indicator used by technical analysts in the market now shows “oversold” levels, indicating that a rally could follow.

The indicator referenced in an article by Bloomberg is the Williams Percent Range, often referred to as Williams %R, which measures momentum in price by identifying overbought and oversold levels with readings between 0 and -100.

Over the past week, the indicator has shown readings in oversold territories, below -80, although that has risen slightly to about -70 as of press time. Readings below -80 on the Williams %R have historically been good buying opportunities for bitcoin.

The last time the indicator showed similar readings, in early August this year, bitcoin reacted by rallying over 20% during the month (green circle). It is worth noting, however, that technical indicators are prone to give false signals, and therefore should be interpreted with caution.

On Friday, former Wall Street banker turned cryptocurrency entrepreneur Michael Novogratz said that he believes the market has now retraced to the starting point of last year’s “massive rally/bubble,” while pointing out that strong market rallies historically have tended to retrace to the breakout point.

Meanwhile, Juan Villaverde, an econometrician and mathematician who leads the Weiss Ratings team of analysts and computer programmers who created Weiss cryptocurrency ratings, suggested that the next bull cycle is still in the making.
According to Villaverde, the first few months of the next bull cycle could be slow and choppy, however, “the next crash is bound to wipe out at least half of the gains.”
“But as before, early investors will still come out ahead. Even those who just HODL should be sitting on some fat profits,” the analyst estimated.


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Author: Fredrik Vold
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Top 5 Coins With Best Investment Risks & Rewards Grades

Weiss Ratings, a veteran firm dedicated to analyzing investments, was the first such institution to publish ratings for cryptocurrencies. Based on what the company calls a, “groundbreaking model that analyzes thousands of data points on each coin’s trading patterns, technology, and usage,” it has drawn the ire of many crypto aficionados after its first release for the low scores it gave most coins.


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The Weiss Ratings Scale
A = excellent
B = good
C = fair
D = weak
E = very weak
A plus or minus sign indicates the upper third or lower third of a grade range, respectively.
Risk shows the downside potential investors should be aware of, reflecting price volatility and magnitude of recent declines. At top of scale, “Excellent” = relatively minor risk. At bottom of scale, “Very Weak” = major risk.
Reward indicates profit potential based mostly on price momentum and recent returns to investors. According to Weiss, it’s a strong tool for short-term trading, especially in trending markets and investors should focus on the overall rating.
______________________
Decred: Risk/Reward C+, Overall Grade B
Decred was rated quite highly in both columns (Investment Risk/Reward and Technology/Adoption) – not a single coin was rated higher than B overall, and C+ is as high as it goes in risk/reward. The project is working on creating a perfected version of Bitcoin: “Decred is Bitcoin as it should have been,” according to a blog post written by the company. ZILLIQA: Risk/Reward C+, Overall Grade B-
ZILLIQA is lagging behind Decred due to their lower grade overall. The project is a new blockchain platform that is designed to scale in an open, permission-less distributed network securely. The core feature that makes ZILLIQA scalable is sharding  –  dividing the network into several smaller component networks (called shards) capable of processing transactions in parallel.

CloakCoin: Risk/Reward C, Overall Grade C
Sitting firmly in the middle, with both grades at a C, CloakCoin provides a transaction system with “guaranteed fungibility”. Their aim is to offer true anonymity in place of pseudonymity offered by Bitcoin, for example. It operates on a transaction system called Enigma.

Skycoin: Risk/Reward C, Overall Grade C+
Dubbed the “most advanced blockchain platform in the world” by its team, Skycoin’s platform is supposed to be completely secure, infinitely scalable, and ISP (internet service provider) independent. According to their official subreddit, “Skycoin is more than a cryptocurrency. It’s the fuel that drives Skywire, the new distributed internet. Users receive Skycoins for distributing services across Skywire and supporting peer-to-peer networking.”

Groestlcoin: Risk/Reward C, Overall Grade C-
Groestlcoin is a privacy-oriented coin that boasts almost zero fees. Operating almost exactly the same as many other cryptocurrencies, its website only explains that it uses a distributed ledger (which they helpfully explain is called the blockchain) and operates on a peer-to-peer model.

Not to leave the technology/adoption section unseen: it actually had the highest score of A- for Cardano and EOS, followed by a B+ for Steem, Ripple and NEO. Interestingly, the ratings don’t always correlate: coins can have drastically different grades across different sections – a relatively high risk/reward section can be accompanied by a catastrophically low technology/adoption grade.

The top five coins by market cap did not fare as well as these in the risk/reward section, and the overall grades did not see a single A grade – as a matter of fact, not a single B+ was to be seen either. Bitcoin, for example, corrected its previous C+ grade to B- now. Risk/reward was low at D+, whereas Technology/adoption rates the largest coin at B.
Ethereum, meanwhile, is slightly better only at a single thing: it has an overall grade of B- as well, risk/reward is C- and technology/adoption is B. Ripple is also at B- overall, with risk/reward at D+ and technology/adoption at a high B+. Bitcoin Cash is lower than its predecessors: all three categories are set at C-. This now leaves us with EOS, arguably rated the best of the top five by market cap: overall is B, risk/reward is a paltry C-, whereas technology/adoption is A-.

From the whole list of dozens of cryptocurrencies, only three coins got B a overall reating: Cardano, Decred and EOS. And here is a B- list: Bitcoin, Bitshares, Ethereum, IOTA, NEO, Ontology, Ripple, Steem, Stellar Lumens, TRON, ZILLIQA. Other coins got lower than B grades.


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Author: Sead Fadilpasic
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Litecoin: The Hot New Mining Sensation

In three months, the hashrate of LTC grew more than twofold, as new machines came online.

Litecoin (LTC) is becoming one of the safer digital assets, as its hashrate tripled in the past three months. LTC is a Scrypt-based digital asset, benefitting from ASIC machines coming on board. Due to the higher hashrate, the price of a 51% attack based on hired mining power is around $68,000. This is just a bit lower from the price to attack Bitcoin Cash (BCH), which is set at $72,000 per one hour of hiring the required mining power.


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The Litecoin hashrate is still above that of Ethereum, at least in the short term. It is unknown where the ETH hashrate would go as the new ASIC miners are becoming widely available.

The information is extremely relevant, given the expectations that hackers may try to double-spend valuable crypto assets through attacking the network directly. The coin’s founder, Charlie Lee, hurried to defend the coin’s network as robust and having diversified mining pools, thus less in danger of attacks:

In lite of recent 51% attacks and https://t.co/yfy2GcBfQE info, rest assured that the Litecoin is extremely secure and mining is very healthy. 👍🚀

– Pools are well distributed (largest 22%)

– Hashrate up 50x (past 1 year)

– High capital costs to attack ($322-761MM + ~$38-50k/hr) pic.twitter.com/hD8IrYM8dD

— Charlie Lee [LTC⚡] (@SatoshiLite) May 30, 2018

One of the reasons for miners flocking to Litecoin is the still relatively high reward of 25 coins per block, which would halve in a little over a year. The other reason is the relatively stable market price, and the opportunity to realize profits by selling LTC for fiat.

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LTC survived quite well the last few shakedowns on the markets, steadying around the $120 levels. LTC added another 4% overnight for a more modest recovery, to $121.82. The prices of LTC have been almost flat against Bitcoin.

Litecoin has received an overall grade of C+ according to Weiss Ratings. The grade is formed from a B- rating for technology and adoption, and a C+ rating for the coin’s risk and reward profile. Previously, LTC was deemed a “dying coin”, but since then, a mix of increasing mining, as well as technological development and community efforts, have made the coin much more promising.

The Litecoin network’s hashrate has increased from 143.4 TH/s, to as high as 342 TH/s, according to Bitinfo data. In other comparisons from the Flappening site, the LTC network is still ahead of the Bitcoin Cash ecosystem, with more active addresses and a higher level of transactions. The increased mining is yet another event in support of the expectation that 2018 would be “the year of Litecoin”, with significantly higher prices potentially reached in the coming months.


Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

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Author Christine Masters
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