It's all green or all red.
Saying that you bought something and have a profit in this market is weak because when it's going up then almost all of the crypto assets go up and vice versa when it's crashing. You probably noticed it. When it's green it's all green at coinmarketcap, when it's red it's all red. And there are the times of plateau when market is more stable and some go up, some go down but the range of this movement is very limited.
BTFD seems to be the no-brainer strategy nowadays. Like that ,,crash" two days ago caused by Bitmain's statement. But even then I prefer to buy coins which have some potential, MVP or stuff like that. These were my choices during last few days after the correction:
Sky is the limit
Skycoin is very interesting because it's a privacy coin like Zcash and it's origin is in 2014. Plus now they are doing second ICO which makes it very interesting because it will pump the value of this token much higher. I bought it when the market cap was 10M so I'm already at 100% profit since 2 days ago.
Check the price here because it's going up extremely fast: http://coinmarketcap.com/currencies/skycoin/#markets
Some big buy orders happening:
17/06/2017 9:27:53 PM Buy 0.00150000 9.52061000 0.01428091
17/06/2017 8:37:17 PM Buy 0.00190000 3128.81444157 5.94474744
Plus recently Cliff High introduced it in his latest raport.
Is skycoin the most undervalued coin?
Buy: https://www.cryptopia.co.nz/Exchange/?market=SKY_BTC#
Basically a copy of Golem with some variations. Should go up when SONM will hit the exchanges to match it's valuation. Long term hold. Already have some little 15-20% profit on it but I was just waiting to buy it under 50M cap for a long term hodl.
Buy: https://bittrex.com/Market/Index?MarketName=BTC-RLC
Check them gainers losers here: http://coinmarketcap.com/gainers-losers/
Skycoin outperformed the market while iEx is just ok but I bought it as an exposition to ,,supercomputer" and decentralized computing power sector. I started treating my cryptocurrency portfolio as a stock portfolio while most of investors still think in terms of COINS or TOKENS. The don't look into the industry in which the token works. They refer to it like we are still in 2014 and it's all about Dogecoins...
Another great performer which I picked up just one week ago is TAG coin. Ibought in at 1.5 CNY and now it's at 2.12-2.5C NY.
With current development plans I expect it value to go up to 15-20M USD from the current 1.5M.
Tagcash is a 100m Peso (USD $2m) Paid up capital company based in Makati, Philippines.
https://tagcash.com/site/about
Update from Mark Vernon, the creator:
Thanks for the comments about TAG - however, I have decided against doing an ICO with TAG, concentrating on continuing development in the rewards industry (linking to closed loop currencies, giftcards, loyalty stamps etc), which is big enough in itself. Now looking at launching a new ICO for the Fintech Philippines Association to manage, for use in remittance, voting, PH based projects. Will get feedback from everyone who wants to contribute and push forward..;) Of course I would enable buying and trading of a new currency within the Tagcash platform, so ordinary Filipinos not holding any crypto can buy and hold or use in their own projects
Buy: http://www.btc38.com/trade_en.html?btc38_trade_coin_name=tag
Too expensive? How to value a token.
Many people (including me) are afraid to buy tokens that multiplied their price by 20, 30 or 50 times. I stay away from them as far as possible. But lately I started thinking about it and I came to a conclusion that it's different than stock markets. Valuation of the token is impossible to calculate. It's not like DGB or LBRY started making a lot of money since March thus investors started buying them. They are the very same coins that they were back in the beginning of this year. It's the market who's changed and the amount of new funds flowing in. It's rather like previous valuations were wrong and the whole cryptospace was heavily undervalued.
Cryptocurrency market cap is still laughable compared even to Apple market cap which is now 737B, while all crypto is worth just 108B. And there are at least few cryptocurrencies that already offer more value then companies listed in S&P500. Of course the market is expensive in terms of what it was in January or February this year. Is ridiculously expensive now and keep it in your mind! But it means literally nothing. Look at this:
A person buys a coin in February 2017.
Coin price goes five times higher in March.
500% is huge so probably most people would sell and be happy.
Then in April it's already 2000% higher than it was in February!
But how many holders from February still hold it in April? Probably some single digit percentage.
Now in April we have new buyers.
In May they are able to cashout with hundreds percents of profit.
Now the last remaining holders from February are selling with thousands percents of profit.
In June not many holders from April remain. They are happy reinvesting or buying stuff for fiat money.
The whole market of altcoins gained 1000% in 3 months since April.
So if a token is now valued 50 times more, like lets say LBRY is up from February, we should mind that there are not many people able to dump now because they got in for 50 times lower price. The only risk is from the stake held by the team that they might dump it because the price is so high. And because token value is not directly correlated with the real value of the project we are more safe than in terms of stock markets where the value is directly correlated with profits, cash flow etc.
I just found out that my portfolio is 20% bigger!
How was that possible? Well because I kept my excel messy, added few positions lately but forgot to update the whole cryptocurrency position. And when I finally did it I saw that the value of my crypto holdings went 20% up! I'm not over obsessive to update it everyday and especially not when BTC is going down haha. I like to be surprised plus I'm diversified as hell. Today I just changed some of BTC into ETH because upcoming ICO's in this month will drive ETH price up plus I want to buy few of them.
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I'm going to expand my portfolio this month by 4-5 positions (ICO) and maybe close 3 of existing ones. I like to swap some assets but most of them are a long term hodl. I'm going to cover the most interesting ICO's of this month in my next article.
Also check my latest post about my portfolio:
Full breakdown of my cryptocurrency portfolio - all positions explained
Want more content like this? Some of my best predictions:
My money making idea for today - buy Qtum on Yunbi exchange (start time = 20:00 - UTC +8)
There is an ICO that nobody talks about...
I would suggest following me but it's only your decision.
Im a bitcoin fanatic and i enjoy reading posts like this so i followed you.
You make some good points. Good luck on trades
Thanks, more coming. I already followed you some time ago.
Great article. When it's red HODL & buy, when it's green(because it is always green after all) make a profit :)
This!
Good report. Going to look into Sky, even though it's a bit high $$ wise.
Sky is the limit.
I think it's great that you take risks with some of the lesser recognized coins however you are at the risk of the coin underperforming/"exit-scamming" with some of the less reputable/bought alt-coins in 4 years time than if you stuck with some of the less volatile and trusted coins. I just can't believe you bought Bancor, I'm sorry
You have not XEM in your portfolio. Any reason? BTW, I'm following you. Very interesting articles.,. Great job!
Why would I have it. If iI had I'd dump it now because the potential of growth is much smaller comapred to what it gained since begenning of this year.
Thank you for following and enjoying my article.