The crypto market never disappoints on the roller coaster of emotions it provides. I think most investors are going to go through withdraws once cryptocurrency matures in a few years and the price movements stabilize.
For this article, I want to discuss some the atlcoin prices currently in the market, what you might want to load up on (speculatively), and what could be coming up for the market.
Nothing should be considered investment or financial advice. Enjoy the ride.
Currently, the prices across the market are looking nice and red. Most investors probably cringe at this site, but the veterans know this is when you make the most money. There is tons of buying potential across the market letting people hedge into projects at near ICO prices. Specifically, let’s take a look at some of the projects investors might want to focus on during this dip.
Side note, if you are interested in what other people are targeting check out this reddit post for some laughs and potential projects that are not mentioned here.
Ethereum or ETH is a classic project with loads of potential right around the corner. Remember, ETH 2.0 is more than likely less than a year from being implemented. Once this takes place, there will be a drastic cut in supply entering the market, and a decrease in sell pressure as users start to stake their minimum 32 Ethereum on nodes to secure the network. Ethereum is always a good speculative hodl since this coin has massive first mover advantage, historical support, and plenty of developers around the world supporting the network.
Prices to enter this coin would have to be around $150 ~ $170 USD. Anything less than that would be a huge buy signal and free money in the long-term for smart hodlers.
Binance Coin or BNB is another market favorite that is currently having a massive correction. Down almost 30% from its recent highs, BNB is a stable coin that should increase in use cases, be utilized on the Binance Dex, and have a continual decrease in supply from the Binance platform’s quarterly token burns. This asset is more risky then most completely decentralized digital assets due to its close ties with an exchange (think Mt. Gox), but has proven to yield massive returns in 2018 & 2019 when the rest of the market is barely staying afloat.
A good speculative price for this asset would be between $22 ~ $24 USD. This coin will more than likely not stay down for long regardless of the rest of the market. It tends to surge without any direct correlation to most of the other digital assets.
Cardano or ADA is a crowd favorite across the market. Unlike the other two coins mentioned above, Cardano has yet to break out at almost any point in this year. Sitting currently around $0.05 per coin, this is only 2 cents above ICO price. The reason Cardano is on this list is also due to the important upcoming developments that are targeted to launch in late 2019. Specifically, Shelly should come to fruition enabling staking on the network for the first time. Similar to ETH, this will effectively cause a short lived spike in demand and without a doubt, drastically inflate prices. If not for the tech, speculators could potentially target this release for hedging back out of this asset and capturing gains.
Price wise, this asset is lower than anticipated at this point in the year. Speculatively, this coin could be bought all the way down to the ICO price of $0.03, and investors could reap massive gains once Shelly rolls out in Q4 this year.
People Choice: Monero
Monero or XMR is a privacy focused blockchain with a very large following. This project has withstood many market cycles and continually leads as one of the most widely used and adopted blockchains which utilizes anonymous transactions. The main reason this coin is on our list is simply because of the Reddit post mentioned above. Multiple people have commented that they are hedging into Monero, so with that in mind, we will add it to our list as the people’s choice coin.
For Monero, any price within the $58 ~ $65 range could be considered as heavy speculative buy signals. I am unfamiliar with the price movements of this coin entirely, but it seems a decent range to dollar cost average in at.
Crypto Market Direction
Do not worry if your crypto bags did not make it to the list of coins above. If you are currently in crypto, you are already aware of how the entire market mostly in aggregate. In particular, once Ethereum spikes in price, there will likely be a bull market break out across the entire market.
The market at hand though, is a rough and unpredictable one. We discussed the potential of new all time lows for altcoins if there was not a substantial surge to support the Bitcoin price break out. It seems we could be testing those waters in the next couple of weeks if things do not change. The way the market is looking, Bitcoin could retrace all the way back to $6,000 which was prior resistance on the way up to $10,000.
Most of the market seems to be betting on the $7,000 ~ $8,000 USD levels for Bitcoin, but as we know, the market is usually wrong. For that very reason, it could be assumed that these support levels will fail if the price breaches $9,000 in the coming weeks.