CryptoHoopla Reports

CryptoHoopla: Verium Report (VRM)

CryptoHoopla: Verium Report (VRM)

Exchange Coverage: Good

Management team: Good

Hype Factor: All time high

Market Cap at time of writing: $11,735,372

Price at time of writing: $7.99 USD | 0.00069767 BTC

Outlook: $20.00 Q1 2018

Overall Sentiment: Bullish

 

Hoopla Analysis:

  • Unique concept designed from the ground up to address the scaling issues of Bitcoin and the cash/core debate using a dual currency system made up of:
    • VeriCoin, a "transactional" cryptocurrency; and
    • VeriumReserve, a "store of value" cryptocurrency.
  • The dual system allows the two currencies to target different purposes without compromise. The currencies leverage original "Binary Chain" technology to work together and reduce transaction times/costs.
  • VeriCoin has a number of attractive features designed to increase its growth and usage:
    • Veribit technology which allows Vericoin to be used with any merchant that accepts Bitcoin.
    • Interest is paid on Vericoin balances held in the native wallet application while it is active.
  • Community is small but growing at at an exponential rate after the Crypto101 podcast interviewed Douglas Pike, one of the creators of VeriCoin.
  • Verium as the "store of value" cryptocurrency is 10x rarer than Vericoin. However, at current prices Verium is currently only ~25% of the price of Vericoin. This alone presents a value gap in the marketplace that should correct as adoption increases.
  • Clear Roadmap with the team staying on target for key deliverables throughout 2017.
  • Major project milestones are set for completion in the near future, including the release of VeriCoin 2.0 in Q1 2018.

Verium at a glance:

  1. Simple and common sense approach to some of the most pressing issues facing cryptocurrencies.
  2. Cutting edge, novel and proprietary technology supported by a capable and dedicated team.
  3. Recovering from an ATH based on hype from Crypto101 coverage, immediately followed by the annual crypto-dip in January, presenting an excellent price / buying opportunity.

Verium Google Search Trend (12 month):

(Source)

Technical Analysis:

Technical Analysis Commentary:

2018 has already proven to be a bit of a rollercoaster for crypto-holders as we saw a boom and bust across the board. Some of the sell off will have been due to fear, some due to profit taking, but either way it is not all that unusual for any financial market to see a correction after a massive bull run, like what we saw in December. The good news is that these pull-backs allow traders to get in at a cheaper price, and Verium, which is currently trading at less than half its' all time high of ~$17 is looking good.

Looking at the indicators, the MACD is still looking very bearish, with no signal of a trend change yet. The bear line is dominating and does not appear to be converging at all. RSI on the other hand would suggest the down swing is weakening out, but it is not calling oversold and looks comfortable in 'neutral' territory.

An angled support line that we have seen hold its strength since early December has been breached, but it does not appear to be an aggressive breakthrough. When we see a breach in support or resistance, we like to see a strong break through before we feel comfortable making a call on the short term price movements. The fact that this breach has been so weak suggests that the downward trend may have been exhausted. Those looking to make an entry should watch current levels closely, as a strong movement up or down could be a good indicator of the next short term price trend.

Overall, technicals suggest that Verium may not have hit rock bottom yet. Regardless, we're more than happy to be buying at these levels. We have to accept we will never pick the bottom or the top of the market and simple need to buy at what we believe to be a good price. The technicals combined with solid fundamentals, and the fact that it's sister-coin Vericoin is trading at a marketcap almost 4 times higher than Veriums', while Verium is 10x more scarce, makes for a compelling argument for the coin. We think Verium has huge potential and could very likely tighten the value gap between its market cap and that of Vericoin (which we are also bullish on). While we think $20 is attainable in Q1 2018, we think long term holders will be rewarded handsomely.

Should you have any questions please contact us at [email protected]

 

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