Hshare (HSR) coin: Taking advantage of the most volatile cryptocurrency
Hshare (HSR) coin is one of a new crop of cryptocurrencies in the market. It was first listed at the beginning of August 2017; so it hasn’t had a year in the market yet.
But even in such a short time, the price of Hshare has lit up the markets with its dynamic movement.
The Hshare ecosystem is a decentralized, open source system, and the cryptocurrency is based on a combination of blockchain and Directed Acyclic Graph systems. The DAG systems are block-less while the blockchain is based on blocks. It is, therefore, a kind of a hybrid cryptocurrency.
Hshare (HSR) market movement since it was released
When it was first listed, HSR was selling at around $20 per token. Within one month, the value of the coin had hit $36 representing an 80% increase in value. With this rise, most investors had started preparing to get into the new crypto-coin in full force, only to be met with an immediate sharp decline with prices plunging to $6.56 within 5 days.
However, the coin had not seen the worst, and its values continued to fall over the next nine days, hitting an all-time low of $4.64 on 15 September 2017. This was far lower than its price at the time of entering the market, and no cryptocurrency does that.
Then, from 15 September 2017, the crypto-coin started its journey to regain its lost glory. Within three months, Hshare had begun showing great strides even overtaking its previous all-time high. However, after hitting a new high of $40, in mid-December, 2017, the coin has again started losing value, and the trend has continued till now where prices stand at $12.47.
How to make money trading Harsh (HSR)?
Although some investors may disagree, Hshare is one of the ideal cryptocurrencies for trading.
It is usually hard to trade crypto coins which maintain a single trend over a period of six months. I know you are asking why?
But let’s take an instance where a trader places a sell, and then market prices move up significantly and before there is time to close the trade the trader will already have made some losses. Again, with a market that has a monopoly trend over an extended period of time, there are fears of overbuying and the market prices may reach a breaking point causing them to come crashing down.
But with a market that varies with time, traders can enjoy the freedom of placing different trades according to their predictions and at least be guaranteed of making some profits from time to time.
For instance, let’s take a trader who placed a buy when the prices had reached the $5 level. If he had held the position for a month, he/she would get significant profits.
However, these kinds of currencies require the use of indicators. Traders can choose to use different types of cryptocurrency trading indicators like the Elliot Wave among many others depending on the platform you are using.