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Are you still ok to go on?
— — Crypto wealth story in 2020 Q1
Author：Crypto V
Do you have your own story in your quarantine time? Do you have more time to trade? We observe that in Chinese quarantine time, there were more trading depth and you can also see the price of crypto market all go up in that period.
This article will be easy and interesting to entertain you and let’s ‘cloud’ union here.
“While it might seem odd that an investment manager who is required to make investment decisions on short time frames would pay so much attention to long-term history”- Ray Dalio
Questionnaire on Loss
Also in crypto world, the market needs shorter time to make investment decision. But it is still important to look back our history. So we started a questionnaire and also we collected some stories.
At present, we have received a total of 139 survey results, and the top three currency losses in the first half of the year are BTC, GNY and ETH. They accounted for 38.84%, 28.86% and 12.23% respectively. GNY has the largest loss range of 40–50%, followed by BTC with a loss range of 20–40%. ETH has the smallest loss, under 20%.
Surprisingly, BTC traders lost the most and then GNY- team also launched LML( Lisk Machine Learning) project. And also Fcoin is another loss…
Learn more about the history
Let’s see the market price of these three projects as below: BTC has been decreased …
To learn more about projects themself:
We can see clearly that old projects are quite solid and even some investors lost their profits on the old ones but we can still see the power through the history of different projects. Besides, don’t forget that 5,000 coins per one Papa John’s pizza (on May 22th 2010 Laszlo Hanyecz bought two pizzas for a price of 10,000 BTC) had become the most valuable virtual assets in the world.
On April 2, a breakdown of the level of $4,200 takes place and within a few hours, the price of bitcoin reaches $5,100. Subsequently, the news appears that the reason for this was the purchase by one buyer on several exchanges of 20 thousand bitcoins at once. Many consider this a signal of the return of major players to the market.
Heartbeat , heartache or heartbroken?
Even as the price behavior is not that good, but Bitcoin Exchanges Trading Volume Increased by 61% in the First Quarter of 2020 which is quite large number, maybe also because the new projects are not that solid so most investors want to invest mainstream projects.
New projects like GNY and Fcoin seems still very young and one of them young enough to have big problems and default risk.
About Fcoin, we already analyze it in our last article: see the link below:
https://medium.com/@elitexexchange/how-to-keep-our-digital-assets-safe-1bd297f15b20
However what surprised me is GNY project(gny.io), which also in Lisk ecosystem, our investors are claiming that they lost the most in this project. There are quite certain ratio in our investors are Liskers.
According to CMC(coinmarketcap.com), GNY describes itself as a proven machine learning predictive platform for the blockchain. GNY reportedly identifies repeatable patterns and learning components that constantly adapt to behavior. But the ranking is not good. The price of GNY has been nearly decreased from 0.2USD(the highest price) to 0.002USD(thelowest price) according to CMC records, no wonder why our investors lost their money the most in GNY.
As your best helper to explore the crypto world, we tried some of exchanges. For example, in BitMart, you cannot sell tokens even you can see there are some orders in the order book on the right side. It’s quite strange. If the exchange or project is normal then you can complete the transaction.
In these days, we can see that new projects need to grow up. If you want to explore more just add our telegram group and talk with me. We will find something for you.
In the end, no matter what your story is, EliteX and Crypto V hope you could have an interesting quarantine time like them:
Join the official EliteX telegram: https://t.me/EliteX_official.
