Crypto-Cast Week Of Oct 22- 29
Disclaimer, any investment advice you read on this blog is at your own risk, and you should only invest money you’re willing to lose. Do your own research and educate yourself, this blog is simply the opinion of a crypto investor.
Hello everyone, I apologize for missing last week, life got busy and I wasn’t able to get it done. This weeks forecast is rainy with a change of a thundershower, which means, it could potentially mean fantastic buying opportunities but not so hot selling ones. My top 5 coins of the week are the following:
1. Syscoin ( sys)
Syscoin has master nodes coming in early November. Since masternodes have the potential to create a passive side income, I would imagine the fact that they launch in early November will attract many investors hoping to get their masternode at a cheap price, currently syscoin is trading at 17 cents, with a marketcap of only 85 million. Giving this coin a huge amount of room to go. They also have a real world working blockmarket, which already has a desktop version launched. There is a web version coming by the end of the year as well. Syscoin has massive potential connecting with the ethereum network, as well as attempting to take on e-bay and amazon for a marketplace. The future is bright for syscoin, and it is a long term hold.
2. Bitcoin
Bitcoin is number 2 on the list, because of the hard fork coming on October 25th. However, bitcoin may be a double edged sword in this instance. It can go one of two ways. After this fork, it may sell off drastically because everyone has been jumping on bitcoin only for the handout they will receive when the snapshot for bitcoin gold is taken on October 24th. However, it could go the other way, because there is yet another bitcoin fork coming in November called Segwit2x, which may continue the pump in bitcoin until after that occurs. This means the Bitcoin market may remain bullish for yet another month, while altcoin continue to see stagnation and sell offs. Bitcoin is both a short and long term hold, depending on if you wish to trade in alt coins or not.
3. We Trust ( Trst )
The We Trust platform is launching their platform for insurance and lending in late October, and so I expect to see a bit of hype generated from this, give that the altcoin market has been taking a beating lately, and bitcoin dominance has risen back up to 58%, it’s hard to say if this coin will move up permanently because of this, but I think it will be a good coin to ride up and if you’re savvy, sell while deep in the green for a nice profit. Having said that, We Trust is a solid platform and likely has long term benefits of holding, since it only has a 30 million dollar marketcap. So feel free to hold for short and long term, depending on your style.
4. Basic Attention Token ( BAT)
Alright, lets be honest, the Mercury release of BAT launched in mid October, and it was a dud. I think it was a dud likely due to the altcoin market taking a beating, and if bitcoin begins to tank and money flows back into alts, I believe BAT will see a significant rise in value. Last I checked it was way way down into the 14 cent range, which if you ask me, is stupid cheap for this coin. I believe basic attention token has a high value future potential, since advertising is no small industry, so getting in under 20 cents for the long term, sounds like a deal to me.
5. Ripple ( xrp )
Ripple failed to deliver ground breaking news relating to xrp during their Swell conference last week, and this disappointed many people, including myself. I had high hopes that Ripple was ready to reveal their secret plans surrounding xrp, and they failed to do that. However, they did reveal a couple of major things that should be brought to attention, as xrp just might very well be the center of. They announced two major projects in which they will be implementing ILP, of which, xrp is the native asset. I will not go into detail on what ILP is however, feel free to google it. Ripple announced two major partnerships and projects. One of them being with the Gates foundation, for bringing the poor into the global economy by making banks and payment providers interoperable. It’s called mojaloop, feel free to google that too. But wait! theres more! The biggest announcement they made went largely unnoticed. They teamed up with hyperledger on a project called Quilt which will be using ILP to make all sorts of business’s banks, payment providers, and everyone inbetween, interoperable with each other. This has the potential to revolutionize the internet of value, considering that hyperledger has over 19k members, and some major names already signed up, feel free to google that. XRP is a long term hold, and should do well over the next 6 - 18 months and beyond.
One coin of note this week, is Verge ( xvg). They still have not released their wraith protocol, and will be released at any moment. When it is released it may created a wave of fomo as people discover how cool it actually is. So verge may see a rise in value in the coming week and beyond. Thanks for reading everyone, stay tuned and check back next week!