Home » In Which Altcoins to Invest In May

In Which Altcoins to Invest In May

A lot of incomprehensible things are happening now on the crypto market, but one thing is clear: the situation has radically changed during a month. If at the end of March the rise of the market was timid and cautious, now there is a clear positive trend. However, in our opinion, in May, you should pay attention not to those currencies that rates grow faster than others (as experience shows, often this is a signal that you don’t need to buy), but on currencies with the highest trading volumes.
be-in-the-loop - In Which Altcoins to Invest In May

A lot of incomprehensible things are happening now on the crypto market, but one thing is clear: the situation has radically changed during a month. If at the end of March the rise of the market was timid and cautious, now there is a clear positive trend. However, in our opinion, in May, you should pay attention not to those currencies that rates grow faster than others (as experience shows, often this is a signal that you don’t need to buy), but on currencies with the highest trading volumes.

A quick glance at Coinmarketcap is enough to say: cryptocurrency volumes and capitalization are very independent parameters. Ratings for capitalization and volumes do not match.

Leaders of trading volumes in addition to Bitcoin (BTC) are Ethereum (ETH), Lightcoin (LTC), EOS (EOS) and Bitcoin Cash (BCH). Only these four Altcoins, not counting Tether Stablecoin (USDT), have daily volumes in excess of $ 1 billion, and ETH — by a large margin: more than 6 billion. For comparison, Binance Coin (BNB) trading volume is much lower than LTC.

What conclusions can be drawn from these figures? First of all, one thing is clear: these currencies are very popular among traders. There is a game around them. It does not guarantee the growth of currencies, but all things being equal it works as an asset plus. These assets are definitely worth having in the portfolio, but we will discuss their position in more detail.

Ethereum

Ethereum (ETH / USD) has been taking second place in the rating of both capitalization and trading volumes for a long time (except for a short period this winter). ETH is a currency that slipped disproportionately in the summer and autumn of 2018, and there is a reason to consider it undervalued. The reason for the underestimation is all the more clear: the abundance of dishonest ICOs based on ETH. Now their number has decreased, and, perhaps, in the foreseeable future, ETH will not only catch up with BTC in terms of growth rate but also surpass it. 

be-in-the-loop - In Which Altcoins to Invest In May

Another argument in favor of the accelerated growth of the ETH rate is the admission of this currency and its clones to the wallet of the acclaimed Samsung Galaxy S10 smartphone — unlike BTC and most other currencies. With high probability, the cryptocurrency capabilities of Samsung will increase the popularity of ETH and other cryptocurrencies available there. A lot of people are still avoiding the cryptographic market simply due to technical difficulties around the installation of wallets. But a wallet from such a giant as Samsung may turn out to be much more convenient and authoritative solution for this.

So, it is very likely that ETH will grow well. However, even by virtue of its second place in capitalization and trading, this currency, in any case, should occupy a significant part of your crypto portfolio.

EOS

EOS (EOS / USD) is considered by many to be the main competitor of ETH. If everything goes wrong with ETH, EOS can easily take over the baton of the “most important currency of smart contracts”. EOS is in a sense a defensive asset against the failures of ETH, so it’s also worth having in your portfolio. 

Lightcoin and Bitcoin Cash

be-in-the-loop - In Which Altcoins to Invest In May

These players are more complex. LTC (LTC / USD) performed well in February-March, but it is believed that it is now overvalued. Technically and ideologically, LTC does not constitute anything new, only the reputation of one of the first currencies works for it, as well as the activities of the team that did not abandon the development to the mercy of fate, but continues to promote it in the market.

Whether to buy LTC now depends on how much you have already invested in this currency. If it is in your portfolio more than 1/10 — it makes sense to sell part of the amount. But if you don’t have LTC at all, or it occupies an insignificant part of the portfolio — on the contrary, you should buy it.

BCH (EXANTE: Bitcoin.Cash) has long been known as a very volatile currency, and it showed this again in April. It deserves attention already because of this. There is no guarantee that BCH will continue to become more expensive in the near future, but if you look at its graphs for previous years, one thing is clear: this currency has room to grow.

Special attention to these currencies from payment services and other companies also demonstrates the benefit of the purchase of ETH, BCH and LTC. For example, in April, the Boltz exchange put LTC in a unique privileged position: among all Altcoins, only it can be changed to BTC without creating an account.

(Visited 1 times, 1 visits today)

Have your say!

0 0

Leave a Reply

Your email address will not be published.

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

Lost Password

Please enter your username or email address. You will receive a link to create a new password via email.

Sign Up