Last night, IBM announced they've chosen crypto currency Stellar Lumens (STR/XLM) to increase its speed in cross border transactions.
It's up 140% today. Click the "24 hr" button: https://poloniex.com/exchange#usdt_str
Momentum plays are tricky, but can be profitable. There's opportunity on both sides: if you hear the news early, buying long's a guaranteed winner. Unfortunately, I didn't hear this news until it was 10 hours old -- an eternity in crypto time -- so I suspect I've missed that boat.
The other opportunity's to go short on the other side of the 'hump'. In crypto, a day or two after big news, people start to forget. They move on to the next shiny thing, and a spiked currency usually starts to come back down. Timing's tricky, though, and my track record on those types of plays isn't exactly sparkling.
Anybody else have any thoughts?
It's up 140% today. Click the "24 hr" button: https://poloniex.com/exchange#usdt_str
Momentum plays are tricky, but can be profitable. There's opportunity on both sides: if you hear the news early, buying long's a guaranteed winner. Unfortunately, I didn't hear this news until it was 10 hours old -- an eternity in crypto time -- so I suspect I've missed that boat.
The other opportunity's to go short on the other side of the 'hump'. In crypto, a day or two after big news, people start to forget. They move on to the next shiny thing, and a spiked currency usually starts to come back down. Timing's tricky, though, and my track record on those types of plays isn't exactly sparkling.
Anybody else have any thoughts?
