If you have ever been interested in the cryptocurrency markets(and since you are reading these lines, it means thatSo), you probably already know that everything therehappens, can be described in just one word: chaos. We are not talking about developments in the field of blockchain, as they seem more or less streamlined. No, we are talking about the market itself and wild price fluctuations.</p>
Why do we always see how countless experts predict future price behavior, in most cases openly miss, but then, as if nothing had happened, make other forecasts?
It's simple: nobody knows for sure in this market. The market is moving in all directions, and any information about what is happening can help the trader get a better idea. That is why all these gurus can constantly make mistakes, but they are still listened to: they give information. Information is very valuable in conditions of uncertainty, and uncertainty is a common state of the cryptocurrency market. Let's find out why this is happening.
Power is in your hands!
In any country, all major financial marketsare under the supervision of various regulators that protect them from manipulation. For example, in the United States, the Securities Trading Act of 1934 prohibits the manipulation of securities prices. Similar laws exist in Singapore, Europe, Australia, etc. At the same time, all these laws apply only to the securities and commodity markets, but not to cryptocurrencies.
The crypto market is speculative.Unlike the stock market, it has no fundamentals. There are real companies behind all shares. And while some, like Uber or Netflix, don't generate profits, most make money and pay investors dividends, which is the main reason to buy shares.
Crypto companies make little money, if notcount some exchanges, and most futuristic projects do not yet have a finished product. This is understandable, because the technology is still new and the companies that are developing new products are pioneers learning by trial and error. But it is necessary to recognize the harsh reality: all that concerns cryptocurrencies now is pure speculation. It all comes down to who has the potential to become an Amazon or Apple crypto world, having won market share not only from other crypto projects, but also from competitors not from the blockchain world.
The price of cryptocurrency tokens may be forone day will change to a significant percentage due to minor news such as the dinner of Tron founder Justin Sun with Warren Buffett and its cancellation. To understand price behavior, we must be armed with the best tools for market analysis and news. The best option is to use something that can collect everything you need to make trading decisions. Fortunately, such tools can easily be found on the market.
If you want to use for each taskindividual instruments, there are many of them. To stay up to date with current news, you can use the CoinLib news aggregator, which combines many sources in one feed. For chart viewing, TradingView is the oldest and most powerful charting and price tracking tool. If you want to see large transactions between wallets, you should definitely follow Whale Alert on Twitter. However, there is an alternative for those looking for an all-in-one solution: the Oculus STIPS platform. There are others, but we will use this platform as the main example in this review.
All you need in one place
Essential Information for Acceptancedecisions is news. STIPS Oculus serves as a news aggregator, collecting cryptocurrency news from around the world and forming from them an updated in real time feed. You can choose which sources you want to include and which to exclude.
You can also compare the time of news publication with the behavior of asset prices, which can show the effect of news on your transactions. Here are some other key metrics you should keep track of:
- Moving tokens between whale wallets– Sometimes cryptocurrency whales can transferyour reserves to the exchanges to sell them, and if you exit all your positions before they do, you can save yourself from losses. STIPS Oculus has its own blockchain nodes that collect fresh data on all transfers and synchronize them with the platform's database for analysis in the Screener service. All activity can be instantly monitored and compared with graphs.
- GitHub Activity– You can track downloads and developer activity index based on software update periods.
- Community Activity and Marketing– STIPS Oculus measures project buzz andhis team's marketing efforts by checking various sources: Reddit, Bitcointalk, Telegram, Slack, Discord. The partnership with IBM Ventures allows STIPS to leverage IBM resources, such as the Watson supercomputer, for tasks such as large-scale data collection and analysis. After the analysis, the attitude of users towards various projects is assessed, which can be used to make decisions about the purchase and sale of tokens.
- Legal status of projects– Legal information is critical in the worldcryptocurrencies If you know your pet project doesn't have any open lawsuits, you'll be more confident in your decisions. STIPS Oculus maintains a database of legal entities associated with crypto projects, with information about their offices, countries of registration, licenses, bank accounts, problems with legislation - everything that can be found about them.
Overall, STIPS Oculus is an important tradingtool, albeit targeted at a small audience of professional traders. Not all indicators directly affect the price of an asset. This is just a summary of information that helps you get an overview of project activity. Whatever tools you use, you should always be guided by your own feelings during trading. These tools are just helpers, but not instructions for action.
When in the Wild West, it’s important to keephand on arms. Chaos is the enemy of the trader, not an ally, and if you are better informed than other traders, this will give you a serious advantage over them. If a whale moves its funds, it may take many traders by surprise. But not you if you found out about this in advance.
When a project promising to build a worldwidea blockchain network with instant settlements and revolutionary smart contracts, only once a month makes changes to the Readme file on GitHub, you know that something is wrong.Some people think the charts speak for themselvesfor themselves, but they understand their language only after they have already said everything. Using comprehensive market analysis tools, you can deeply understand what is happening and why it happens, without guessing like market gurus who are always wrong.</p>