2017 was a watershed year for cryptocurrency. Coins skyrocketed in value, leading to increased media coverage; more media coverage meant greater public recognition of (and interest in) crypto and blockchain than ever before. Optimism flourished, even as it became apparent that such a boom cycle was unsustainable. 2018 has seen the climate around cryptocurrency regain some semblance of normalcy – something that Ethereum co-founder Vitalik Buterin described in an interview with Bloomberg as a “ceiling” after the intense growth of the previous year.
According to Buterin, the so-called ceiling exists because the promotional strategy of blockchain and cryptocurrency’s nascent days – using marketing as a way to drive adoption – is reaching a “dead end,” the byproduct of increased public awareness in the wake of 2017. “If you talk to the average educated person at this point, they probably have heard of blockchain at least once,” said Buterin. “There isn’t an opportunity for yet another 1,000-times growth in anything in the space anymore.”
Crypto markets have declined sharply from their January peak at $828 billion total market cap to $198.8 billion, according to CoinMarketCap. While that decline is certainly precipitous, current figures are still significantly higher than the roughly $17-20 billion market cap at the beginning of 2017. As a result, industry leaders are avoiding hitting the panic button in a bearish market, which early bitcoin investor Roger Ver described to Cointelegraph as “the opposite of a crash,” citing overall gains for bitcoin of 58% over the past year and 1048% in two.
Buterin seems to have a similar perspective, shrugging off the skepticism-fueling news stories behind recent price dips, like Goldman Sachs’ recent announcement that they were suspending their plans for a crypto trading desk – a popular news item in the crypto world that Goldman’s CFO, Martin Chavez, clarified there was never even a timeline for. “I honestly don’t think this stuff matters much,” said Buterin. “There’s honestly a part of me that would be happier if institutional trading of cryptocurrencies did not happen at all for another five years…if all that cryptocurrency is, is this thing that millionaires keep buying and selling to each other, then what have we really accomplished?”
As such, the impending “ceiling” does not mean a death knell for crypto. Greater awareness has enabled the theoretical next step in the evolution of both spaces, says Buterin – the use of crypto in “real applications of real economic activity.” Jehan Chu, managing partner at blockchain investment and advisory company Kenetic Capital, agrees. “There are deep reservoirs of value just waiting for the right trigger,” he told Bloomberg in a text message. Exponential growth may have created unreasonable short term expectations, but as Buterin has described, there is plenty of room for future growth in different ways.
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The Moving Average Convergence Divergence (MACD) for GS turned positive on April 23, 2024. Looking at past instances where GS's MACD turned positive, the stock continued to rise in of 42 cases over the following month. The odds of a continued upward trend are .
The Momentum Indicator moved above the 0 level on April 22, 2024. You may want to consider a long position or call options on GS as a result. In of 77 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
GS moved above its 50-day moving average on April 15, 2024 date and that indicates a change from a downward trend to an upward trend.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where GS advanced for three days, in of 326 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Aroon Indicator entered an Uptrend today. In of 276 cases where GS Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
The 10-day RSI Indicator for GS moved out of overbought territory on April 01, 2024. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 47 similar instances where the indicator moved out of overbought territory. In of the 47 cases, the stock moved lower in the following days. This puts the odds of a move lower at .
The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 4 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where GS declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
GS broke above its upper Bollinger Band on April 23, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating very strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 74, placing this stock better than average.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating outstanding price growth. GS’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Seasonality Score of (best 1 - 100 worst) indicates that the company is fair valued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (1.270) is normal, around the industry mean (5.433). P/E Ratio (18.081) is within average values for comparable stocks, (35.241). Projected Growth (PEG Ratio) (3.284) is also within normal values, averaging (2.610). Dividend Yield (0.026) settles around the average of (0.030) among similar stocks. P/S Ratio (3.091) is also within normal values, averaging (105.216).
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
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