Icon builds a decentralized network of networks powered by cryptocurrencies. It uses a proprietary algorithm called Loopchain. ICON connects an ecosystem of blockchain communities through the ICON Republic. An ICON Community is an individual blockchain or protocol with its own governing system. ICON also has its own decentralized exchange. The Icon Republic acts as the center of the Icon blockchain's operation, governing the process by which new ICX cryptocurrency is minted in each block. ICX is the native cryptocurrency of Icon. ICON coins fuel the network during transactions. The ICX coin is listed on more than 20 exchange platforms in the world in pairs with major cryptocurrencies like BTC and ETH.
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We recommend you do your own research and cryptocurrency analysis. Experienced crypto traders use fundamental and technical analysis to evaluate if ICON is a good buy/sell. Fundamental and technical analyses are the two most common types of analysis used in trading traditional assets (e.g. stocks and bonds).
If you are unfamiliar with analyzing cryptocurrency prices and want to buy ICON, we recommend you read the next section, as copying might be a better approach.
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I just added some projects to my strategy that can have a good run in this #altseason. So, let's see:
My strategy here: https://www.iconomi.com/asset/CRYPTOALLIEN
First buy-zone approached.
Buy when there's blood on the streets.
$YFI and $ICX have weathered the storm relatively well.
$CHZ is a metaverse/NFT investment.
I expect $BTC to bottom out around its current price, at least temporarily. I will add on the next dump, or on confirmation of a reversal.
So what happened today?
We saw a big leverage flush.
Anyone who longed near the top with a leverage of 10 or higher got liquidated. Open interest (the entirety of long+short positions) decreased substantially. It was the biggest liquidation event in 2 months, and either shows what's to come or marks the bottom of this move.
I'm betting on the latter. Strong alts should continue to perform well, as long as $BTC holds its range. Identifying these altcoins is a tough challenge. $TOMO and $SXP held up pretty well during the drop. $ICX is recovering strongly. $LTC and $ONE showed strong performance before and are both resting on their respective support.
$BTC lost the 64k support. As long as we don't establish a new range or reclaim 64k, Bitcoin is in a pretty weak spot.
Alts have shown mixed performance lately. $ICX and $LTC though were two of the good performers.
$ICX calculations show it might peak around 1.6-2.1 €. This might be a great opportunity.