DAO and BTC - Hedging positionsBitcoin up 11.15%
$DAO down 5.16%
Indicating strength in $DAO.
This can be used to hedge your
Bitcoin long position.
$DAO has a reverse relation with $BTC.
If Bitcoin goes down a bit, $DAO
will go up more aggressively.
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At this moment $DAO has not been on the market.
But it seems like it does have an inverse relation with $BTC.
$DAO might be usefull as a hedge but I am not sure how
competent the team of $DAO is.
There is an article on coindesk.com with the title
"Will The DAO Become Ethereum's Mt Gox?"
You can look it up. The headline seems very weird to.
Too much speculation. Coindesk.com was hyping $DAO before it got in
the market. Made me think that the coindesk.com team bought $DAO.
If they try to manipulate the market with that headline to buy cheap ?
We migght never find out.
This is just an analysis. Consider the risks on every trade
Dao
LSK/ETH TRADING PAIRA Ethereum base market and two new trading pairs were released by Poloniex yesterday - POLONIEX:DAOETH & POLONIEX:LSKETH . This offers an interesting opportunity for Ethereum holders who want to invest in LSK but do not wish to pay for the double conversion fee of exchanging ETH into BTC, and paying another fee to buy LSK. A smart move by the exchange operators to keep clients happy and trading volume up. LSK/ETH could be a great tool for investors to gauge market dynamics while also providing information for trading strategies moving forward.
Today's live interview with recently appointed Lisk senior advisor Charles Hoskinson revealed a lot about the potential of Lisk for developers, users and investors alike. The price of Lisk went up about 8% during the interview, and price seems to have stabilized so far, hovering in the low 80k range. www.youtube.com
Expect this new trading pair to help with the next Lisk bull run and expect to see wild spikes of volatility in this small but emerging LSK/ETH market.
ETH after the DAOIm just guessing this could be happening after the DAO Hype is Over. Not pretty confident but seems that all this bull market on ETH was generated by the DAO Hype.
H&S forming for EthereumWe are seeing a nice formation of H&S. Before the end of "cheap DAO" phase we might see sub 0.019 levels again.
12 h 30 m until end of the phase.
ETHBTC Update 2The DAO threw a monkey wrench into my predictions. (Actually, I haven't kept up with the latest cryptocurrency news and was completely ignorant of the existence of the DAO in my previous charts.) It would appear that the demand for DAO has been enough to delay lower ETH prices. Glad I didn't short ETH...
Here is a link to a graph of DAO token creation: daostats.github.io
