Coin Sheet - June 12, 2017

◤What people are talking about...

Holy $#&t: Ethereum to Bitcoin market cap ratio hit ~80% after Ethereum casually surges, hitting a ~$400 all-time high. Bitcoin hit all-time highs yesterday but has dropped since.

Why Ethereum is outpacing Bitcoin (tl;dr - Bitcoin's utility is limited and weakening).

Hedgefunds are quietly investing in cryptocurrencies.

Israel is not about that Bitcoin life, lame.

US State Department offers Blockchain development internship.

Oh, and Litecoin may be due for a breakout, that is, if Bitcoin doesn't bring it down(shoutout to /r/litecoin).

◤THINGS I LIKE

Based Buterin analyzing token sale models.

Ethereum memes have gone Hollywood (that production quality tho).

A nice little guide on ICO's by BlockGeeks.

◤FUNDAMENTALS

Today in Fundementals:  ̶W̶i̶t̶c̶h̶c̶r̶a̶f̶t̶ Technical Analysis - What are candlesticks?

Candlestick charts are used to describe price movements (from rice, to stocks, to cryptocurrency) and are used today internationally by day traders, investors, and /r/wallstreetbet'ers.

Candlestick charts provide an advantage over the traditional line chart by showing the force underpinning the move as well as provide earlier indications of market turning points (this helps you time the market better so you can buy low and sell high more effectively).

Take a look at the nicely labelled candlestick below.

Courtesy of Wikipedia

Courtesy of Wikipedia

The "bar" of the chart shows you the opening/closing price for that time interval (be it one minute, one day, one month, etc). Charts typically use a red color to show a loss and green color to show a gain. The "wick" is showing you the highest/lowest price reached during the time interval.

Below is a 15 minute candlestick chart of Ethereum (ETH). Each one of these candlesticks represents a 15 minute time interval.

You can read more about different candlestick patters here.

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