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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Moving lower for three straight days is viewed as a bearish sign. Keep an eye on this stock for future declines. Considering data from situations where GS declined for three days, in of 296 cases, the price declined further within the following month. The odds of a continued downward trend 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 Momentum Indicator moved below the 0 level on April 10, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on GS as a result. In of 78 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
The Moving Average Convergence Divergence Histogram (MACD) for GS turned negative on April 08, 2024. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 41 similar instances when the indicator turned negative. In of the 41 cases the stock turned lower in the days that followed. This puts the odds of success at .
The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 3 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an upward trend is expected.
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 329 cases, the price rose further within the following month. The odds of a continued upward trend are .
GS may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
The Aroon Indicator entered an Uptrend today. In of 273 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 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 75, placing this stock better than average.
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 Price Growth Rating for this company is (best 1 - 100 worst), indicating steady 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 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 (5.403). P/E Ratio (18.081) is within average values for comparable stocks, (35.040). 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 (105.664).
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a provider of investment banking, securities and asset management services
Industry InvestmentBanksBrokers