We are now at the tail end of 2019, so it is already safe to assess the yearly performance of all cryptocurrencies. There have been some magnificent gainers, like Synthetix (SNX), which has put a remarkable 2613% gains, and Matic Network (MATIC) with 699% increase. But, of course, there were many losers that had negative yearly performance.
The list of “losers” include Qtum (QTUM), a coin that has decreased in value by -21,96% over the course of the year. It can be viewed as a bad result, considering that most neighboring coins were in green this year. This could mean that Qtum can fall lower in the Coinmarketcap ranking (it presently holds the 34th spot) if the poor showings persist.
However, as every experienced trader knows, one shouldn’t rely only on bullish scenarios and build his trading strategy accordingly. The market always moves in waves; therefore, there is a high possibility that soon Qtum would reverse the bearish trend and enter the green territory. But that is unlikely to happen in the next couple of weeks.
Judging from the year-to-date chart below, Qtum took an active part in a bull rally, which took place throughout this spring and summer.
The green days of the crypto market ended abruptly at the beginning of August, so did the rapid rise of Qtum price, which had climbed to the height of $5.57, only to have a massive crash to the previous support level of $2,68. That fall marked the inception of a prolonged correction, which saw the price of Qtum sliding slowly but steadily to its current support zone at $1,6.
Interestingly, the price action of Qtum almost mimics the one of Ethereum, while having evident discrepancies with this year’s path of Bitcoin.
Bitcoin to Qtum comparison chart
Ethereum to Qtum comparison chart
Traders who specialize in ETH should take this fact into account and consider the possibility of adding Qtum to their crypto portfolios, because it could open the opportunity for mirror trading.
To summarize, in 2019, Qtum has failed the holders who missed out on the chance to sell the coin somewhere during the bull rally, and now have to suffer through the lingering correction. But those traders who got acquainted with this cryptocurrency only a couple of months ago must now wait for a deeper dip, which should happen sooner rather than later, given Qtum’s unimpressive performance lately.
Even though Qtum holds the promise of future gains, its present situation is close to being dire. The vast majority of technical indicators are pointing at a strong sell, as seen on this meter.
The 14-day Stoch RSI is screaming to sell, echoed by SMAs and EMAs on all time frames. The only indicator that suggests a buy is the 9-day Hull Moving Average - Stochastics and MACD remain neutral at this point.
All in all, the holders of Qtum should either sit tight or cut their losses, while the potential buyers could wait for another dip.
# | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
1 | BTC | Bitcoin predictions | 63.6% | 72 | $95 523.20 | -1.59% | -3.09% | $1 890 429 694 333 | ||
---|---|---|---|---|---|---|---|---|---|---|
2 | ETH | Ethereum predictions | 70.4% | 59 | $3 621.80 | -2.23% | 4.19% | $436 218 097 663 | ||
3 | USDT | Tether predictions | 92% | 1 | $1.000303 | -0.03% | -0.06% | $134 162 795 778 | ||
4 | XRP | XRP predictions | 58.8% | 88 | $2.35 | 22.03% | 55.33% | $134 008 145 144 | ||
5 | SOL | Solana predictions | 65.6% | 74 | $227.22 | -4.39% | -10.92% | $107 963 781 068 | ||
6 | BNB | Binance Coin predictions | 81.2% | 31 | $639.63 | -2.52% | -4.93% | $92 113 151 283 | ||
7 | DOGE | Dogecoin predictions | 54.8% | 93 | $0.414433 | -3.12% | -4.33% | $60 934 659 886 | ||
8 | USDC | USD Coin predictions | 93.6% | 1 | $0.999885 | -0.02% | 0% | $39 953 701 426 | ||
9 | ADA | Cardano predictions | 59.2% | 84 | $1.098899 | 2.62% | 3.22% | $38 555 845 015 | ||
10 | AVAX | Avalanche predictions | 68.4% | 69 | $47.29 | 6.64% | 1.29% | $19 354 282 669 | ||
11 | TRX | TRON predictions | 60.4% | 80 | $0.206824 | -0.55% | -2.23% | $17 849 842 228 | ||
12 | SHIB | SHIBA INU predictions | 58.4% | 94 | $0.000029 | -2.55% | 11.86% | $17 234 033 938 | ||
13 | TON | Toncoin predictions | 69.6% | 62 | $6.50 | -4.09% | 4.64% | $16 548 049 282 | ||
14 | XLM | Stellar predictions | 58% | 89 | $0.517429 | 1.39% | -5.15% | $15 561 708 340 | ||
15 | DOT | Polkadot predictions | 59.2% | 84 | $8.73 | -2.42% | -4.66% | $13 308 222 653 |
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