Dear Gostake community,
As you probably know, Gostake team has decided to publish a bi-monthly newsletter in order to help you learn how to use our profit tracker and identify the current cryptocurrency market trends.
Today is February 1, 2019, 07:30 UTC and without further adieu, let us dig into Gostake cryptocurrency data.
Similarly to our previous newsletter, the main cryptocurrency market question is whether the big daddy of cryptocurrencies, Bitcoin, has reached the bottom and whether we can expect some positive market movement in the months to come or can we go even lower?
Since most of the altcoins follow Bitcoin market sentiment, the answer to this question would set the path for what we can expect in the altcoin markets in the future. As it seems now, crypto analysts, influencers and investors are not in consensus regarding this issue. A group which claims we have reached the bottom, or at least being very close to it, relies on the fact Bitcoin has lost over 65% of its value compared to a year ago (which is clearly visible on the following Gostake.com table which you can get if you set up time frame to 365 days and base currency to USD) and over 80% from its all time high. They also claim 2019 is the year where we should start positive effects of Bitcoin halving which will take place in May 2020 and reduce Bitcoin block rewards for 50%. This will, in turn, significantly reduce the quantity of freshly mined Bitcoin which enter the market on a daily basis and make Bitcoin even more scarce.
On the other hand, supporters of the crypto bear claim we need at least one more push down to flash out weak hands and stabilize the market. Both sides agree $3000 or just a bit above it is a very important market and psychological line of support and if it gets broken, we could see another wave of red, possibly double digit loses, populating cryptocurrency charts.
Looking at the Gostake 30 days charts, it is obvious we are still affected by the crypto winter. Out of all coins we track, in this selected period, only Tron is in the green, as displayed on the following Gostake table.
Tron price movements (and price movements of all other assets Gostake tracks) can be easily identified by clicking on each asset name which opens advanced view for that particular asset.
As we can see on the following price graph, Tron price has been appreciating through most of January 2018, partially due to Bittorent token airdrops for Tron holders which some exchanges implemented during January.
In line with that, Gostake charts and graphs also show that an investor who invested $1000 in Tron at the beginning of January would enlarge their investment by 31.9% today, as seen on the following graph. This again shows how lucrative can crypto investment be if you know how to follow the market and how to adjust your portfolio. This is exactly why we have created Gostake.com, to help you balance you crypto bags and to make smart decisions during this very unpleasant crypto winter.
On the other note, which is not necessarily directly tied to Gostake but worth mentioning nonetheless is recent news (https://www.coindesk.com/pantera-coinbase-join-4-5-million-round-in-staking-as-a-service-startup) where a plethora of venture capital groups such as Coinbase Ventures, Global Brain and Winklevoss Capital among others has partook in an investment seed round of a startup that provides institutional investors with the technical infrastructure for non-custodial staking services.
It’s excellent development for the crypto economy of reward generating crypto assets as it is a decisive and significant shift away from Proof of Work centric paradigm.
This news is worth mentioning as Gostake as a reward generating cryptocurrency tracker and data analysis platform is uniquely poised to fulfil this growing market niche as a free and useful market intelligence tool. Coins and tokens that generate passive yield especially during bear market are seen as a safe haven due to the fact that no matter the price you would ultimately end up with more coins or tokens than you originally had invested. To see this for yourself please test the below mentioned filter setting to see how reward generating coins/tokens performed despite general market downturn.
Growth and recognition of this exciting part of the crypto economy is very much welcomed. Gostake would be adding, tracking and analysing any coin that is added to the above mentioned Staking-as-a-Service platform.
As always, please understand we are not financial advisers and we do not guarantee positive or negative results based on our data or past performance of crypto projects we track. Please do not hesitate to contact us using our contact form should you have any additional questions or require additional information. Please ensure your assets are kept safe and protected, never share your passwords or private keys with anyone else and try to run your wallets in a secluded and protected environment. Always install and update the latest antivirus and antimalware software. Gostake.com sincerely hopes the provided service will help you create and maintain differentiated and rewarding crypto portfolio.
For further updates, please subscribe to this newsletter if you already have not become our subscriber.