Crypto Contest July 24: Gridcoin
Gridcoin has broken out of the triangle pattern in the four-hour chart.
(Chart courtesy of Tradingview.com)
In Elliott Wave terms, Gridcoin began a wave one advance on March 5. The wave one (sub-waves i-v) finished on June 11, and the wave two (sub-waves a-b-c) correction ended on July 11. If this wave count is correct, Gridcoin should be heading next towards the June 11 peak in the wave three.
(Chart courtesy of Tradingview.com)
If you think this analysis is correct, upvote this post and upvote the comment "Gridcoin will takeout the June 11 peak".
If you think this analysis is wrong, upvote this post and upvote the comment "Gridcoin will drop below the March 5 low".
If you think Gridcoin is in a range, upvote this post and upvote the comment "Gridcoin will stay in a trading range between the March 5 low and the June 11 peak until August 24".
You can upvote the comment until 3 PM EST July 25 and you can upvote only one comment. 50% of SBD from this post will be distributed equally to the winners. The winners will be determined by the price action (which one happens first). Only participants with a Reputation of 35 or more will qualify in the contest.
Hello! I would recommend you join the community so your analysis can include an intimate understanding of the market instead of simple chart analysis. Chart analysis alone is almost always wrong and when it's right, it's usually right because something physical happened, not because a triangle was completed. New investors in crypto follow your advice instead of researching the blockchain and its past, current, and ongoing developments. This will lose them money.
I respect that this is steemit and you are incentivized to make a post, but if you want to speculate on Gridcoin and our community I would ask that you add some real content to your posts. Who are we? What are we? How long have we been around? What are we planning for the future?
Gridcoin is different from all other coins: We combine PoS with DPoR which utilizes BOINC credits to determine reward. Essentially, we took the hash power of PoW and directed it to real world processing instead of blockchain maintenance. This makes speculation on GRC a unique process.
Gridcoin is a transparent, decentralized community which has developed an incentive and reward structure for distributed processing. Gridcoin utilizes the platform BOINC (The Berkeley Open Infrastructure for Network Computing), which is a 15 year old open source platform developed at The University of Berkley, California.
BOINC provides scientists and enthusiasts with a place to host data which needs to be processed -- Data pertaining to projects such as mapping the milky way, finding prime numbers, folding proteins, testing chemical and molecular combinations, SETI, and any number more.
Gridcoin developed a DPoR protocol, also known as Proof of BOINC. This rewards the volunteers who offer their spare processing power to BOINC projects.
There is so much more to Gridcoin, so I invite all potential investors to come take a look at what we're building.
Slack is the most active developer community hub and anyone is welcome to join. If you get an error that says an e-mail wasn't sent, ignore it. The e-mail was sent (it may be in your spam).
In slack, the channel #Trading might be of specific interest to you! We discuss the finer points of the GRC market along with other currencies.
Signed,
@jringo
@m3rcos1ty
of the Gridcoin community.
Thank you for the invite. Joined your Slack team. Looking forward to learning more about your project.
You can find my track record here with TA:
https://steemit.com/cryptocurrency/@maarnio/crypto-contest-status-report-vi
and here:
https://steemit.com/cryptocurrency/@maarnio/crypto-contest-status-report-v
Gridcoin will takeout the June 11 peak (23 voters as of 3 PM EST July 25: vortac, cm-steem, steem-buzz, simonjay, gregory-f, soundmoney, daniel.dalo, allmonitors, lydon.sipe, dirty.hera, ikilledcobain (did not vote main post), arnel, bradenford, skririm, eirik, poppy.poppers, trumpman, psilacetin, mprgrmmr, carlosdaniel, bluebellwalk, mela, me-do).
Gridcoin will stay in a trading range between the March 5 low and the June 11 peak until August 24 (28 voters as of 3 PM EST July 25: freiheit50, twinner, yefet, me-tarzan, scalextrix, ahinga, unhorsepower777, komischername, thatsweeneyguy, damla, jznsamuel, mirda, flemingfarm, architrader, coolthings, miniature-tiger, igsamuel, ragnaros, abh12345, andy23, napkin, spyfromthecold, lig007, rhino, barton26, m3rcos1ty, kitcat, freskil).
You won.
Gridcoin will drop below the March 5 low (7 voters as of 3 PM EST July 25: starline, osmanbugra, apsu, anetchen, c-c-c, libert, vermute).
I love Gridcoin, and the idea behind BOINC!
As much as I'd love for it to spike, I'm afraid the most it will do is stay within trading range.
Resteemed as usual 😉
Yes. I like the idea behind BOINC too. Thanks for resteeming.
I love the idea of this contest, happened to find this from going through other peoples profiles.
Typically I try to avoid most contests, but I haven't met anythin similar to this so it'll be fun to participate and trying to learn something the same time.
Welcome apsu. Good to see some fellow countrymen here.
Thanks. We are quite few on this page, but maybe we need to deal out free buckets if we'd want people to rush on Steemit ;)
Yep. It is good to have a seat before the upcoming rush.
Cool post! I have followed you and will join your contest when I get to 35 rep points. But I think your analysis is correct, Gridcoin will takeout the June 11 peak.
Thanks. Good to hear. I hope you reach 35 rep points soon.
Yes. You could be right. Let's wait and see. Thanks for resteeming.
Which option won the last one of these?
You should have not asked. The last analysis was wrong.
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