Kore coin is an interesting coin. From a TA perspective it's a pretty easy trade and was one of our first blogs. That is correct it has more than doubled since we first posted about it less than a month ago with a 0.001032 target price. It has been a consistent trade, and it is time to take my money and profits off the table. But why would we not hold any of these coins for long term? Let's take a look.
Technical Analysis:
The top chart speaks for itself. The trend is almost too perfect. From an EW standpoint, there is plenty more room to run. It's almost like clockwork the way the pattern repeats over and over. Easy money, almost too easy. We cannot deny from a chart perspective it looks really good. But how does it perform vs our thoroughbred? Not to shabby, and it has continued in an uptrend for which others like Neo have since reversed. From a TA perspective it's a winner. I will warn you during trading I did notice there always seemed to be a huge 5 figure order flopping around here and there. This isn't OmiseGo so who is putting $30-80k on this coin? I watched it closely move the order depth, and force buyers to buy higher, and sellers to sell lower. Maybe i'm being a conspirator so let's put my mind to ease and look at the FA.
Fundamental Analysis:
Kore is intended to be a privacy coin, with private VOIP, VPN, and anonymous money transfers. Ok there are several other coins that do this and this whole "anonymous" movement may be ideally what we are after, but eventually governments will want to have some control over who is doing what and where. Not impressed in the area of involvement, but let's take a look at the "team". Are you kidding? No team page, or the one you think you can click on is not even a link. I mean where is the team page? Who is behind Kore coin? The only person I could find in searching the web is someone named MikeMike. Well being southern born I know a lot of people with 2 first names, but the same two first names? At least FlavaFlav spelled the second a little differently. I think I'm starting to smell something here. But let's read the white pages. Again None. Well they haven't released it yet anyways. "Rumor" has it, they (whomever they are) will release it with the new updated wallet. Ok throw another red flag! Remember I'm not an expert so let me google Kore coin and see what others are saying about the coin. After reading an article from Steem it appears that this was an abandoned project at some point which was picked up by the "team" who is anonymous, to offer anonymity for everything from phone calls to a "still in development" marketplace. The writer definitely calls this out as a pump and dump, and from what I can see (or lack there of), he could very well be correct. Ok we definitely stepped in something here.
Now maybe one of you bloggers knows something I do not know about this coin, but at this point it does not pass the smell test to be in my wallet. I have no problem trading it short term, but corrections in "prop coins" will be quick to zero. If you have been in this since we posted the original blog it may be time to take your money off the roulette table. These types of coins are the reason China and other governments are starting to take a stance, and will be the first to go. Again I am not a crypto expert by any means, but this is not a coin I want in my wallet, and moreover do not want to have any of my cash held up in it. Something is odd here, the perfect chart, the lack of information, the dark web. I'm not sure exactly what it is, and I could be wrong, but I do not eat meat that smells funny, and I wouldn't serve it to any friends.
Bottom line, we must do the basic research and separate coins that are purely for trade, and ones we want to hold for investing. If you are a short stack, you should not even be involved in these types of coins. Stick to proven winners.
Technical Analysis:
The top chart speaks for itself. The trend is almost too perfect. From an EW standpoint, there is plenty more room to run. It's almost like clockwork the way the pattern repeats over and over. Easy money, almost too easy. We cannot deny from a chart perspective it looks really good. But how does it perform vs our thoroughbred? Not to shabby, and it has continued in an uptrend for which others like Neo have since reversed. From a TA perspective it's a winner. I will warn you during trading I did notice there always seemed to be a huge 5 figure order flopping around here and there. This isn't OmiseGo so who is putting $30-80k on this coin? I watched it closely move the order depth, and force buyers to buy higher, and sellers to sell lower. Maybe i'm being a conspirator so let's put my mind to ease and look at the FA.
Fundamental Analysis:
Kore is intended to be a privacy coin, with private VOIP, VPN, and anonymous money transfers. Ok there are several other coins that do this and this whole "anonymous" movement may be ideally what we are after, but eventually governments will want to have some control over who is doing what and where. Not impressed in the area of involvement, but let's take a look at the "team". Are you kidding? No team page, or the one you think you can click on is not even a link. I mean where is the team page? Who is behind Kore coin? The only person I could find in searching the web is someone named MikeMike. Well being southern born I know a lot of people with 2 first names, but the same two first names? At least FlavaFlav spelled the second a little differently. I think I'm starting to smell something here. But let's read the white pages. Again None. Well they haven't released it yet anyways. "Rumor" has it, they (whomever they are) will release it with the new updated wallet. Ok throw another red flag! Remember I'm not an expert so let me google Kore coin and see what others are saying about the coin. After reading an article from Steem it appears that this was an abandoned project at some point which was picked up by the "team" who is anonymous, to offer anonymity for everything from phone calls to a "still in development" marketplace. The writer definitely calls this out as a pump and dump, and from what I can see (or lack there of), he could very well be correct. Ok we definitely stepped in something here.
Now maybe one of you bloggers knows something I do not know about this coin, but at this point it does not pass the smell test to be in my wallet. I have no problem trading it short term, but corrections in "prop coins" will be quick to zero. If you have been in this since we posted the original blog it may be time to take your money off the roulette table. These types of coins are the reason China and other governments are starting to take a stance, and will be the first to go. Again I am not a crypto expert by any means, but this is not a coin I want in my wallet, and moreover do not want to have any of my cash held up in it. Something is odd here, the perfect chart, the lack of information, the dark web. I'm not sure exactly what it is, and I could be wrong, but I do not eat meat that smells funny, and I wouldn't serve it to any friends.
Bottom line, we must do the basic research and separate coins that are purely for trade, and ones we want to hold for investing. If you are a short stack, you should not even be involved in these types of coins. Stick to proven winners.