Spectrecoin - Thorough Privacy Tech - Rando's Report - TA/FA Summer '19

By RandoGraphic | SpectreCoin Fans | 21 Jun 2019

$2.46 tipped


Spectrecoin has been going through quite the revival since the December lows, even when compared to the aggregated altcoin market, the other privacy coins, and even Bitcoin itself. In this article we'll review the price action and fundamentals of Spectrecoin and look into some potential scenarios going into summer 2019.

FUNDAMENTAL ANALYSIS

  • Spectrecoin recently delivered on the unique Proof-of-Anonymous-Stake consensus (PoAS, AKA 'Stealth Staking'). This means Spectrecoin is currently the only project with working Anonymous Staking, and with the advantage of being on a trustless setup. Many other privacy coins have recently been hit hard by the discovery of a major vulnerability in the Zerocoin protocol, which requires a trusted setup.

  • The Spectrecoin team has been focused almost exclusively on tech development until this point. With the achievement of PoAS the team is now confident to put more energy and funds into marketing to reach new users and spread awareness. Collaborations with Publish0x, Uptrennd, and the CI Network, along with a recently rebuilt website and a growing writing team are all working to get the word out.

  • Now that Spectrecoin's suite of privacy features is comprehensive, the development team has shifted focus towards features to enable hardware wallet integration, cold staking, and a mobile Android wallet. Meeting these roadmap milestones will help take user adoption to new heights.

  • Spectrecoin's market cap is still relatively low compared to many other privacy coins, even considering its recent growth.The potential to grow exponentially is possible as more privacy fans learn about Spectrecoin's privacy advantages over some other privacy coins with much larger market caps. Also since funding is directly tied to coin price, it creates a snowball effect when the price rises, allowing for more marketing and development.

  • There's a lot of buzz about privacy coins in general, including from CZ of Binance who has been public about his enthusiasm for privacy features in projects. Many people are realizing that crypto is here to stay, but they are learning that not all projects protect their privacy.

  • Spectrecoin now has more easy-to-access exchange options than it ever has before. Average trade volume is at the highest levels since summer 2018.


TECHNICAL ANALYSIS

XSPEC/BTC 1W (log chart)

  • Retest of resistance/support zone (blue rectangle)
  • Possible Cup & Handle forming
  • 20 and 50 week moving averages pointing upwards
  • Retest of 20 Week Moving Average
  • RSI has been above 50, retest for support
  • Stochastic RSI close to oversold

 

I'm curious to see how the weekly candle closes. If it closes as a hammer then this Cup and Handle setup will look good.

 

XSPEC/USD 1W (log chart)

  • Sitting above 100 Week Moving Average
  • Has been above consolidating between prior resistance turned support and long term resistance
  • 20 and 50 week moving averages are both solidly pointing upward

 

SPECTRECOIN MARKET CAP (log chart comparison)

Comparing market caps of many major and minor privacy projects and how they've faired since the December 2017 highs and the December 2018 lows, we can see that Spectrecoin has been climbing the ranks steadily relative to many projects.

 

In fact, if you take the December 2018 average lows for most of the privacy projects listed as a starting basis for percent growth, Spectrecoin is gaining market cap quicker than any project on this list.

 

MARKET CAP COMPARISONS (log chart)

Does this mean that the train has been missed? Hardly.

When comparing to other projects, some of which have definitively less comprehensive privacy tech than Spectrecoin, we can see Spectrecoin has plenty of upside potential just to reach even the December 2018 lows of some projects. The percentage growth examples below aren't specific targets, but just show the huge gap Spectrecoin could potentially close in relative market cap.

CONCLUSION

Spectrecoin now has a full privacy suite of features while many other privacy coins are still developing features or scrambling to find solutions to the Zerocoin vulnerability. Not everyone can jump into mining cryptocurrencies, but anyone can easily get into private staking with Spectrecoin's easy-to-use Proof-of-Anonymous-Stake.


With a focus shift towards marketing and more wallet and exchange options, Spectrecoin looks more than ready to jump into the big leagues of privacy coins.


I am not a financial advisor. I am an active member in the Spectrecoin community, and a big fan of privacy cryptocurrencies

If you enjoyed this article and analysis, please consider throwing me a Spectrecoin tip to my stealth address. Thanks!

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RandoGraphic
RandoGraphic

Me like crypto. :P


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