Countinghouse – the Best Kept Secret in Crypto
Countinghouse is a coin you probably haven’t heard of. The token, and its CHT ticker, is not on CoinMarketCap, it is rarely talked about on social media, and it’s very hard to come across unless you are looking for it. But throughout a savage and very public bear market, where Bitcoin has lost 83% of its value, CHT has risen over 300% since its ICO completed in June, with only its army of investors and ardent fans aware of its incredible performance. It might just be the best kept secret in crypto right now.
From Forex to Crypto
Countinghouse is based in Stirling, Australia and is run by a group of foreign exchange traders, who developed an algorithmic trading bot to make the most of volatility in the forex markets. The fund reported annual returns of 70-120%, at which point they had the idea of turning the bot’s attentions to the emerging cryptocurrency market. So they created a new bot based along the same code and threw $50,000 at it, deciding to wait a year and see what came out. Over the year they fine-tuned the bot to make the most of the vagaries of the crypto market, putting more money in as results improved, and ending the year with a stunning 600% return. The Countinghouse Crypto Fund, and Mintie the crypto trading algorithm, were born.
Countinghouse launched their ICO in April and turned Mintie on in June, bang in the middle of the bear market, focusing on the actions of Bitcoin and Ethereum. Any worries that Mintie could only take advantage of increasing prices were dispelled in the first few weeks when weekly returns of 5-7% became commonplace, in spite of being in several negative positions at points, Mintie has never failed to return a profit at week end.
The team are always working on honing the model to take advantage of market conditions, and have been known to catch double and even triple shorts. Friday, results day, is eagerly awaited by the band of investors on the fund’s Telegram channel, with a guessing game taking place to see who can get closest to Mintie’s weekly performance.
Countinghouse plans to build on their success by adding XRP to Mintie’s volatility index. It also has plans for a third venture to add to the forex and crypto vehicles. Reassuringly they are registered with the Australian Securities and Investments Commission, which adds an authenticity many funds in the cryptocurrency space cannot claim. An audit is also expected to be completed by the end of 2018.
If crypto has dished out any lessons this year it is that nothing goes up forever, and Mintie will eventually turn in a loss. But, even if the bull market returns and she churns out monster wins, the odds are you won’t hear about it. Some secrets are apparently worth keeping.