QTUM/USDT Futures (Short) - Crypto Academy / S6T2- Team Trading Contest Post for Reminane

1. Introduction of the token and the exchange in which I am trading

About QTUM

QTUM is a currency that has its own characteristics because it was created by combining the Bitcoin and Altcoin mechanisms. QTUM is a highly anonymous cryptocurrency using an open source blockchain.

Since it is a currency created by combining the mechanics of Bitcoin and Altcoin, it is born with two characteristics. Therefore, QTUM has adopted smart contracts which are a feature of Ethereum, and a mechanism for auto-contracting is also included.

What's more, a system called lightweight wallet which reduces storage capacity and makes behavior lighter has also been introduced. In addition, mechanisms such as PoS are also adopted, and it can be said that useful technologies for the advancement of blockchain technology are also adopted.

QTUM has also introduced UTXO, the blockchain technology that Bitcoin became famous for, and because the addresses are reissued, the addresses are completely anonymous.

In addition, to increase anonymity, QTUM has introduced a system called Account Abstract Layer (AAL) which operates the smart contracts created by QTUM.

Blockchain and account abstract layers are highly compatible in cryptocurrency transactions where new information is constantly being updated, enabling complex anonymous processing when updating transaction data. In addition, by increasing the processing speed with a light wallet, it has high practicality.

List of markets that can trade QTUM

There are many exchange sites that we can use to trade QTUM, because this is one of the coins with a large market capitalization, thus placing this coin in the 100th rank. Now, to trade with QTUM we can use the following exchanges, including:

Binance, Huobi, Bkek, Bithumb, Gate.io, Coinone, Kraken, Bybit, Bittrex, KuCoin, Bitfinex, Poloniex, Phemex, Probit, BitGlobal, OKK, Crypto.com, Upbit, etc.

Market that I use

This time I will use Binance to trade short, this is because I believe that the QTUM price will decrease after I do the analysis which I will show below, I will also show the details of the transaction below.

2. Why am I optimistic about this token today

What makes me confident trading QTUM

The only reason why I'm so confident trading QTUM is because I see a price drop coming.

How long will it go down

I don't expect QTUM's decline to last long, so I'll try to make a profit in a few hours or in 1 and 2 days.

3. Token Analysis

I saw that the QTUM price drop had just occurred, I decided to use the Ichimoku cloud and Vumanchu Chiper B indicators with a time frame of 15 minutes. It can be seen that in the screenshots below.

Previously I have used the MA-20 indicator, and the QTUM price has started to fall below the MA-20 line. Vumanchu Chiper B has also displayed a red dot which is a sell signal.

My Entry

Since I already believe that the price of QTUM will actually decline, I will place my entry in the market.

I placed my entry at $6,513, and I'm also using 10x leverage.

4. Do you recommend everyone to buy or not?

Judging again from the technology offered by QTUM, we can be sure that the price of QTUM could be even more expensive in the future. Plus, QTUM has also partnered with many major platforms and companies on its journey so far. But keep in mind that, the technology in QTUM is not or is not a new technology in cryptocurrency. They only brought together two blockchain technologies on their project, so it was never really a new technology.

However, to recommend people buy and hold QTUM, I'm not brave enough to say that yet. Of course we need to do a fundamental analysis of this project first.

Therefore, I prefer to trade intraday with QTUM, but if you really believe in this project because you have done fundamental analysis, then feel free to invest.

Conclusion

QTUM is a cryptocurrency that already has a fairly large market capitalization, meaning that this project is already familiar among cryptocurrency activists. However, to invest in this coin, we need to do some analysis first.

To invest long term, fundamental analysis is very necessary. But if we use QTUM only as an intraday trading coin, then it is enough to use technical analysis.

Although QTUM offers advantages, there are still disadvantages that accompany it. The technology that QTUM offers has never been really new. This means that the technology has been adopted by other blockchains actually, it's just that QTUM brings together the two blockchain technologies on the coin.