Not looking good for this rally #BTC #Bitcoin #XBTUSD
Tracking the on the last 4 days, there was a very clear trend establish which slowly ground up into resistance. It seemed an was forming and the violent bounces off of the re-affirmed the sentiment most were feeling. It provided a great environment for trading the channel and I was able to make some nice leverage trades back and forth. But you know what they say. Be greedy when others are fearful and fearful when others are greedy. Each of the previous test of the was met with immediate buying power kinging in, driving the price higher.
As I am typing this, we are 2 minutes away from closing the current test hourly and 4 hourly candle and unless there is a rapid push higher to turn this into a reversal candle, like those before (highlighted in the green bounded elipses on the chart image), I am going to see this as a false breakout and a potential downside back to the 200 Day Moving average. I am short since $5250 , closed my short at $5150 and reopened again at $5170 when it started looking like the bounce isn’t coming.
Now it may still come and I have safe-measure in place, but in the meant time I will stay short until I see a reason not to be.
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Initial Coin Offerings (ICOs) have been under by the US Securities and Exchange Commission (SEC), leaving many companies and would-be investors wondering if they should risk getting into the ICO craze or leave well enough alone.
In early December, the SEC even , a company that had raised over $15 million by promising to deliver returns in excess of 1,354% percent over a one-month period. Later in the month, the SEC on a hot bitcoin stock, The Crypto Company, citing “concerns regarding the accuracy and adequacy of information.”
This has been the general gist of many of the in regards to ICOs, sending shockwaves through the cryptocurrency investment world.
“This space is on fire and everyone wants in, but all this uncertainty around ICOs is making investors nervous,” says Fintech entrepreneur and CEO Gregory Keough. “The ICO model was a good first iteration, but we saw that it was time to take it to a next-level approach that provides compliance while still delivering a type of crowdfunding opportunity.”
JCO Offers ICO 2.0 Alternative
With his attorneys at , Keough has created what he describes as – a next-gen hybrid of ICO and initial public offering (IPO) structured to comply with SEC regulations using the to include non-certified investors in a pathway to the . He hopes his model will provide a new avenue for startups to raise capital from a larger pool of investors.
“The crypto-investment market is maturing very quickly,” says Keough. “With the SEC’s actions, we’re already moving past the sort of lawless new frontier mentality that was so exciting when bitcoin and ICOs first took off. Investors are looking for more secure ways to get into the crypto craze, and we are working with Cooley LLP to fill this market demand.”
Introduced in the U.S. in November, the is a new crowdfunding mechanism using the blockchain and cryptocurrency to allow companies to raise capital more readily through cryptocurrency investments and an initial public offering of stock in compliance with the JOBS Act Regulation A+.
First Equity-Linked Token Offering
Finova’s own token will carry the unique attribute of being linked to a share of equity in Finova and will provide for an ERC-20 Ethereum token standard that can be traded in cryptocurrency and is also backed by assets in a U.S. corporation (the ERC-20 standard makes assets more easily interchangeable). Upon issuance of tokens, the token will have the ability to pay the dividend directly to the wallet registered to the individual.
to offer an investment opportunity in Finova Financial, a socially responsible provider of digital financial technologies with a stated mission of creating a more inclusive financial system and providing a path to financial health for the 2 billion people outside of the traditional financial system. Founded in 2015 by an executive team with a deep background in traditional banking, Finova is backed by more than $100M in capital, led by .
At the moment, Finova is in the process of offering a Simple Agreement for Future Tokens (SAFT) in a presale to accredited investors that will act as the first step on the path to issuing SEC-regulated securities to non-accredited investors.
“Our goal was to create an investment model that democratizes access to capital as well as investment opportunities,” says Keough. “We worked with the community and our attorneys to design what we hope will be a model many can use to give early-stage companies access to the largest pool of capital possible.”
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