Crypto Contest July 9: VeriCoin
VeriCoin (VRCUSD) has broken out of the triangle pattern in the daily chart.
(Chart courtesy of Tradingview.com (log scale))
Elliott Wave Analysis
In Elliott Wave terms, VeriCoin began a wave one advance in January 2015. The red wave one finished in July 2016, and the red wave two correction ended in January 2017. The red wave three (blue sub-waves i-ii-iii-iv-v) finished on January 10 this year, and the red wave four correction ended on June 29. If this wave count is correct, VeriCoin should be heading next towards the January 10 peak in the red wave five.
(Chart courtesy of Tradingview.com (log scale))
Looking at the monthly chart, I believe VeriCoin is currently in the red wave three (blue sub-wave v). The red wave three began in January 2015.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
VeriCoin is a Proof-of-Stake-Time currency with a disinflation targeted interest rate which is dependent on the degree of staking. The latest recorded VeriCoin update is from March.
(Sources: https://vericoin.info/ and YouTube)
If you think this analysis is correct, upvote this post (min $0.01) and upvote the comment (min $0.01) "VeriCoin will takeout the April 20 peak".
If you think this analysis is wrong, upvote this post (min $0.01) and upvote the comment (min $0.01) "VeriCoin will drop below the October 9, 2017 low".
If you think VeriCoin is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) "VeriCoin will stay in a trading range between the October 9, 2017 low and the April 20 peak until August 13".
(Chart courtesy of Tradingview.com (log scale))
You can upvote the comment until 3 PM EST July 12 and you can upvote only one comment. 50% of SBD from this post will be distributed equally to the winners. The winners will be determined by the price action (which one happens first).
Bonus
I will be sending one Trophy Token (@trophy-token) to everyone who manages to get these crypto contests right seven times in a row. If/when you accomplish this, please contact me at Steemit Chat with your BitShares address.
VeriCoin will takeout the April 20 peak (12 voters as of 3 PM EST July 12: bleujay, bentleycapital, novus-locus, jznsamuel, crokkon, kunschj, koskl, photoquote, liberton, nordina, sporttr, what-is-life).
Imo the price vrc/btc will peak to 0.00021 btc then will drop below 09 oct 17
VeriCoin will stay in a trading range between the October 9, 2017 low and the April 20 peak until August 13 (20 voters as of 3 PM EST July 12: gregory-f, glennolua, soundmoney, komischername, misalen, toofasteddie, cryptotem, starline, tzap90, revelationquotes, rothberg, steem-d-anlovnit, diogosantos, galasek, mirda, nicolaepavelean, catchup, richard78624, mitrado, harryp3).
VeriCoin will drop below the October 9, 2017 low (11 voters as of 3 PM EST July 12: sqlinsix, skepticology, vicspics, abh12345, reconnectnature, milano1113, mgood, portillo, coolthings, ragnaros, nzl19500).
You won. Paid out from @maarnio1
My prediction this time will be based on the recovery of the markets, I think that on its own will guarantee that VeriCoin price won't go below the October 9 low. But I don´t think it will be enough to take out the April 20 peak.
It will drop.