In my last post I covered Bitcoin, so now it's time for the altcoins. Due to the upcoming Bitcoin forks, most of them are on sale now. This is part 1, part 2 will come tomorrow.
As for Bitcoin, I won’t go into technical details behind each coin, I’m gonna write about it from an investor/trader point of view.
The first one, of course, is EHTEREUM
The first game changer in the crypto world. It was proposed in late 2013 by Vitalik Buterin, a cryptocurrency researcher and programmer. You can find more about it on the official website.
Compared to Bitcoin, ETHER was at its all times highs in June 2017 when it was worth 15123612 Satoshis (or 0.15123612 BTC), since then it had a serious correction finding support at 6700000 Satoshis (0.067 BTC). That was until this crazy Bitcoin’s run up that stared two weeks ago. Today ETHER’s price is around 5000000 Satoshis (0.05 BTC) which is still 6.5 times bigger than it was worth in January 2017, 768479 Satoshis (0.0076849 BTC).
Compared to USD, ETHER started the year at $8,00 with a slow and steady growth. Then in May it just exploded, reaching its all times highs mid-June at $412,21. A resistance confirmed September the 1st, after a 50% correction. In only 14 days it sunk (like the whole market) to $220 due to the China FUD, rapidly growing back up to $300. Today you can buy it for around $290 which is, IMHO, a fairly good price.
With a market cap of $28,910,466,717 ETHER is by far the second biggest cryptocurrency. A clear winner, and it’s here to stay. At these prices I’m looking to add to my positions in ETHER and I’m holding it for the long terms.
The second one is LITECOIN
It is a peer-to-peer Internet currency that enables instant, near-zero cost payments. LITECOIN features faster transaction confirmation times and improved storage efficiency than the Bitcoin. You can find more abut it on the official website
Compared to Bitcoin, LITECOIN reached its all times highs in May 2017 at 218900 Satoshis (0,02189 BTC), and it found the same resistance twice in July, finding support around 100000 Satoshis (0,01 BTC) at every price correction after those run ups. And it’s doing do same today, with Bitcoin at its all times highs, which is a great sign. At these new lows, it’s still worth more than a double than it was on January 1st (45000 Satoshis, or 0,0045 BTC).
Compared to USD, it reached its highs on September the 2nd 2017 with $93,71 for 1 Litecoin, and, like most cryptocurrencies, lost half of his value with the China FUD in just two weeks. Today it found support at $57,11, which was previous resistance at couple occasions. And that is always a sign of confidence. Since January 1st (when the price was $4,50) it grew more than 12 times.
Today, LITECOIN is the fifth most traded cryptocurrency with the market cap of $3,261,080,029. With its fast transaction confirmation and low payments the adoption is growing and thus will the volume and the price. I’m not selling nor buying at these prices, but I’m keeping my position for the long run.
The third on is RIPPLE
Not the most popular coin in the ecosystem due to its connections and usage by the banks, but still a great investment opportunity. “Built for enterprise use, RIPPLE offers banks and payment providers a reliable, on-demand option to source liquidity for cross-border payments.” You can find more abut it on the official website
Compared to Bitcoin, RIPPLE reached its all times highs mid-May 2017 at 24200 Satoshis (0,002420 BTC), and it’s been slowly declining ever since. Today its price is 3380 Satoshis (0,0000338 BTC). Which is still better than the price before the start of the run up in March when it was worth less than 500 Satoshis (0.000005 BTC) and 688 (0,00000688 BTC) on January 1st
Compared to USD, RIPPLE is a bit more stable. All times high mid-May at $0,37, a mild correction and some ups and downs to arrive at $0,20 today. On January 1st the price was just $0,006, which makes it a 33 times growth in just 10 months.
With the market cap of $8,097,364,373 it’s the third most traded currency. When we add the mass adoption, especially by the banks, we can love it or not, but it has nowhere to go but up. In the long term, of course.
The forth is NEO
The Chinese dragon, AKA Ethereum of China. NEO uses a unique blockchain algorithm that improves upon Ethereum’s model. While the basics still apply, it also supports decentralized commerce, identification and digitization of several assets. You can find more abut it on the official website
Compared to Bitcoin, NEO reached its all times highs mid-August 2017 at 1398000 Satoshis (0,01398 BTC), with a 50% correction after that. NEO managed to rebound to 830000 Satoshis (0,0083 BTC) after the China FUD, but it’s been going down ever since. Today’s price is 464800 Satoshis (0.004648 BTC). On January 1st the price was 14500 Satoshis (0.000145 BTC).
Compared to USD, NEO reached its all times highs mid-August 2017 at $48,01with a huge drop to $13,59 the next month when China banned ICOs and shortly after that crypto exchanges. But with good news coming from Japan and South Corea, NEO grew up to $37,23 in just 20 days. Like almost all altcoins, it’s on sale right now $27,20. On January 1st the price was just $0,14. That is a 200 times growth this year!
Since we still don’t have any news from China what will be the future of crypto in a country with the largest population in the world, it is very hard to predict where would NEO go in the next few months. I still think that it’s a keeper for the long run, but I’m not touching it right now. But with a market cap of $1,400,605,000 (9th place), NEO is still a major player.
That’s it for today, part 2 is coming tomorrow.
Until then, STAY SAFE AND HODL!
DISCLAIMER: I am not a financial advisor. All thoughts in this post are my personal opinion and not a financial advice. You should always do your own research before any investment.