Disclaimer: this is not financial advice. I am not an expert nor claim to know more than the average trader. The following is an opinion based on research I have personally conducted. As always, DYOR (do your own research).
Everyone is always searching for the next Bitcoin or Ethereum. Do you remember when Ethereum was $30? Do you remember when NEO was $50, or when it was still called Antshares and traded at $1? If you didn't invest into these when they were low, it probably pains you to see how much they've gone up in value.
If you are looking for the next big opportunity in cryptocurrency, two words: Monaco Card.
I want to be totally honest with you, I am biased. It is in my best interests for MCO to go up in value, but whether or not I hold Monaco Card tokens does not disregard the fact that MCO is way undervalued.
I've been holding MCO for a few months now and I have researched all there is to research with Monaco Card. I research every investment I make, I don't part with my hard earned dollars that easily.
You won't find technical analysis charts in this article, or sales pitches, but looking at Monaco Card from a fundamental perspective, they are doing everything right.
- Building an experienced team
- Getting listed on all meaningful cryptocurrency exchanges they possibly can (already on Bittrex and Binance)
- Not rushing to market
- Ensuring they're compliant (important in a time where governments are clamping down on cryptocurrencies and exchanges)
- A partnership with Binance
- Premium metal cards
- Not relying on third-parties for core product features or taking shortcuts.
- They don't release specific dates to prevent pump-and-dump groups from benefitting from selling the news
At the time of writing this, MCO is trading at $11.86 USD and is sitting at a market cap of $156,479,337 USD. It has a circulating supply of 13,195,542 MCO and a total supply of 31,587,682 MCO.
At its all time high, it was sitting at $24.78 USD per MCO, with a market cap a little over $243,000,000 USD.
I won't delve into the specifics of Monaco Card here, because I already did that in another post titled, A Serious Look Into Monaco Card - which I highly recommend you read.
However, looking at the criminally low market cap (other projects with no utility like Doge are over $1b) you'll see that only the slightest catalyst will be needed to propel MCO to a much higher market cap once they start releasing products and features.
I am not saying Monaco Card is going to hit $1000 like Ethereum did, but it definitely has the potential to reach the same growth we saw with Litecoin and NEO in 2017.
There is serious potential for MCO to do at least a minimum 5x the current price, once token lockups start ramping up due to card reservations, the price could go way higher. That would just be the start.
At 5x the current price, that's basically $60 per MCO. To see the possible price estimations, someone has created a great calculated table here.
Once you realise that Monaco Card is actually going to be the first project of its kind in cryptocurrency, a functional debit card, a company focused on compliance and building a suite of financial tools for cryptocurrency investors, the growth potential is off the charts.
Technical Analysis
In the beginning I said no technical analysis and I've stuck true to that, the following technical analysis has been done by others. If you're looking for some technical analysis that other investors have done, Tradingview has some from a few prominent traders about the potential for MCO.
One thing you'll notice is that the TA from each of these traders is pointing to at least a 300% increase in price on product launch, with the consensus alluding to possibly 500% or higher.
- Monaco (MCO) – Solid Project (520%+ Earnings Potential) by Alan Masters
- MONACO MCO, Possible breakout, target 300% in the next 30 days
- MCOBTC 500%+ potential (long term trade)
- MONACO - Triangle (Potential 500%+ profits)
What's coming for Monaco?
In the following, Q1 refers to quarter one meaning Jan-Mar 2018. Monaco Card is a five star sponsor of the Money 2020 event in Asia happening 13-15 March, 2018 (a sponsor alongside the likes of Google).
Considering the cost of a five star sponsorship for Money 2020 was over $100,000 USD, to me that is a show of confidence that MCO feels like they're ready to unleash what they have upon the world.
Kris the CEO of Monaco has said many times, it would make no sense going to Money 2020 without a working product, which pegs the release of the app and cards as most likely happening in February or early March.
Given they will want to iron out any bugs before attracting the attention of a large audience, February is most likely to give them some time to fix any serious bugs before a larger set of eyeballs gazes upon Monaco.
Here are just a few things coming down the pipeline, a few in Q1 2018 (dates are tentative)
- Major strategic partnership (Q1)
- App wallet launch (Q1)
- Token lockup (Q1)
- Card rollout (starting in Asia, followed by Europe) (Q1)
- New cards being announced (Q1/Q2)
- Monaco Invest (Q2)
- Card rollout in the US (Q3)
- Monaco Credit (Q3)
In a recent Q&A, Kris the CEO revealed by end of 2018 the Monaco wallet application is going to support over 200 cryptocurrencies in the app. Meaning you'll not only be able to spend Bitcoin, Litecoin, fiat curencies and a few other big ones, but possibly even smaller coins.
If you pay attention, Monaco Card appears to be a cryptocurrency debit card company, but they're building a financial platform.
Besides the card, an investment platform and credit card functionality (using a secured credit model) will mean you can not only spend your cryptocurrency gains without needing to transfer and pay stupid fees, but you'll be able to borrow against your cryptocurrencies as well.
In a market where projects simply just need to rebrand and the price skyrockets or get listed on a new exchange, knowing what is coming with Monaco Card, profits are all but guaranteed.
Who knows how high Monaco Card will go? But, I do know it will go up and if you buy now it's a huge opportunity to make some money and you don't even have to wait long for good news.
If you would like to reserve yourself a Monaco debit card, if you use my link: http://get.mona.co/IVWT/S1sS1Il8JG - you'll earn yourself a free $10 when the app and cards launch. No upfront costs or obligation, just go through the KYC process of identifying yourself and reserve a card, then you'll be informed when cards launch.
I delve into the cards in my analysis article (linked earlier in this article) you'll see they have a card that is completely free: the plastic Midnight Blue card. No upfront costs, no postage or activation fees, go through the process and you'll get a card no strings attached when they launch in your region.
Finally, if you want to get a sense of the scope of what Monaco Card is trying to achieve, they currently have 20 job listings open. With plans to have a team of over 100 people by the end of 2018.
Seriously, don't miss out.