Is Iconomi (ICN) a Better Hedge Than Litecoin?
I previously mentioned that litecoin is a perfect hedge within the cryptocurrency markets. I still believe this to be the case since litecoin is among the most trusted blockchain assets. However, an even better hedge may be emerging in the form of Iconomi, or ICN.
Let's take a look at the technical chart for Iconomi:
Unlike almost every other cryptocurrency, ICN is trending in a decidedly bullish channel since hitting its mid-July bottom. And post mid-July, Iconomi's technical chart doesn't resemble anything else I've seen, including Monero (XMR).
At this juncture, I can't determine for 100% sure if Iconomi is a better hedge than litecoin because we're dealing with such a short time frame. However, this disproves my initial thought that ALL cryptocurrencies trend the same -- clearly, they do not, and that's great for future growth!
I just started with litecoin. There are plenty to learn
Did you see their 2q report?
https://steemit.com/icn/@ender/icn-2q17-report-out
I'm waiting to get into ICN for some time now, the price is higher that I would like but I might buy in if we see a big dip anytime soon
Did you see the 2q report?
https://steemit.com/icn/@ender/icn-2q17-report-out
the way i started accumulating some ICN was by mining easy to mine coins and converting them to ICN, DOGE or ETH when the rates are favorable. can take a while sometimes but we were in a bear market for so long that this was one of the simplest ways to diversify my investments in crypto without having to put in more money into a descending market
I think it´s a great hedge anyway, because after August 1st a lot of money will flow into the Index, which increases buybacks and with that buy pressure on ICN. In my opinion it should become a very stable token which always tends to go more up rather than down
i noticed this pattern too. i think the big reason for the abnormality is that they released a test product recently, hence the push after testing the bottom. it is nice to see data correlate to news. in my opinion this is one to keep a really close eye on in the next month or so.