Closing the information gap
Simetri Research, a crypto research and analysis service backed by digital currency reviewer Crypto Briefing and crypto price aggregator CoinMarketCap, has launched a new platform that displays short-term trading signals.
Crypto Briefing announced the new service, Coins on the Move, on Aug. 22. Coins on the Move is reportedly designed to meet the informational needs of short-term crypto traders, who prefer to actively buy and sell rather than hodl. Some insights the platform offers include entry and exit prices and near-term price projections accompanied by researcher rationales.
Simetri is currently only offering the service to Simetri Research subscribers. Simetri Research CEO Han Kao remarked that Simetri is an attempt to close an information gap that is detrimental to retail investors. Kao commented:
“When one party has a great deal of knowledge, and the other has very little, that imbalance puts the retail investor at a huge disadvantage. Our goal is to help redress that imbalance with SIMETRI – giving our best interpretation of multiple data points, to help investors understand the market as quickly and easily as possible.”
Technical and fundamental analyses are insufficient
Kao further remarked that neither technical analysis nor fundamental analysis are good predictors of crypto price. He claimed:
“Technical analysis is helpful in the cryptocurrency world … But it doesn’t tell the full story. And since this is still a nascent market, nor does purely fundamental analysis. Crypto pricing is dictated by a unique hybrid of factors, such as the overall project strength, market trends such as staking, token momentum, investor sentiment, and of course the 24/7 news cycle.”
Simetri remains a fairly young initiative, having launched at the beginning of July of this year.
Coinbase moves into trading signals
As reported by Cointelegraph, major crypto platform Coinbase announced in July that it would offer crypto trading signals to its customers. In particular, Coinbase said that they would provide signals for top holder activity, typical hold time and popularity, and price correlation. Coinbase purportedly believes that these metrics will let investors better understand user behavior, but the data itself will be aggregated and completely anonymous.