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trading

Nervos Network (Good Shit)

I like Nervos, launched under mainnet, proof of work, supports dual mining, halving every 4 years, backed by electricity bills (not minted for free like most scammy erc-20 shitcoins), daily github commits, team of former ethereum devs, actively tries to solve problems.

Beware the algorithm is eaglesong (ASIC) that means centralized supply/mining.

Genuine cryptocurrencies, don’t have offices or CEO’s and can’t be taken down by governments.

All decentralized non-profit projects should end in .ORG (organisation) check the following domains and you will realize they all end in .org. Monero , Dash, Bitcoin, Ethereum , BitcoinCash, Ada, RavenCoin, Neo, Nervos, litecoin.

Behind .com , io, network, .foundation domains you will likely find a for-profit company who’s business model is to sell your pre-mined, printed-out-of-thin-air free erc-20 testnet tokens.

These for-profit companies have absolutely nothing to do with crypto, the space has been hijacked by scammers and wanna-be enterpreneurs. More than 90% of these companies can be found on offshore leaks or the paradise papers.

My philosophy in regards to the blockchain economy is still the same. Space (blockchain real-estate) should be a form of tender or currency for the blockchain economy. This is what Nervos is trying to achieve. Store of Value.

If you have read my blog, I’ve been saying it for months. Nervos Network has the potential to give you high returns. The project itself is solid but the price isn’t, price will go lower in the weeks to come. There is excess supply that the market must absorb and I don’t see this happening right now. Expect lower prices.

Should you invest in Nervos? NO, trade it and build your position.

Should you invest in Nervos? Nope, you should trade the mean reversions and slowly accumulate your stack. Slowly but surely build your position.

Price will range-trade like bitcoin and will continue to do so. There is hardly any fiat flowing into bitcoin, let alone in altcoins. When Nervos breaks out of the range, expect some firework.

How we trade is how farmers grow and harvest their crop in down-trends.

  • Scale in buy orders at the low of the range.
  • Wait for prices to return to the static mean (HVN’s) All prices eventually return to the average of the range.
  • Observe price-action when price enters the HVN range, sell 25-50-75% of your stack ,if price gets rejected at HVN. Pay attention to closing prices, engulfing candles, swing failure-patterns, hammers, doji’s.
  • Rinse and Repeat I’ve been doing this weeks now, it allowed me build my position with discount.

Pay attention to BITCOIN/USD chart… any trend reverals on the Day-timeframe, should resonate to Altcoin/BTC pairs. Meaning if bitcoin tanks, alts will follow.

If you’re skilled trader, start building your position with Nervos.

update 14 March

I wrote this recommendation on 11 March. I specifically said that price would drop much lower, however didn’t expect it would drop so low. Thanks Corona. This is a buy opportunity, don’t go all in. Scale in your orders.

To trade static-mean reversions you will need tradingview-pro for volume profiles. Every serious trader, should familiarize himself with mean-reversions.

This is not financial advice, this is trading advice. I’m telling you to trade it and slowly build your position-size. If we ever see a parabolic run like in 2017, we should see Nervos hitting at least $0.50-$1 or even higher, or I will eat mcafee’s dick. $0.50 = 500% ROI – $1 = 1000% ROI. Not unreasonable for a Proof of work project/ supply halving / backed by electricity-bills. The project hasn’t even ”cycled” yet… still ranging.

Get Nervos CKB here

Everything will be alright.

source : trainspotting

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