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Wow, so this last week surprised me a little bit. I did not expect the upcoming bitcoin fork to affect the markets this quickly. As a result, the alt coin market took a fair big hit, and continues to do so. I do expect a bounce to occur this week, as most alt coins on on a major discount right now. The crypto-cast for this week, is cloudy with 60% chance of showers. My top 5 picks for the week are the following.
1.Ripple (xrp)
For the second week in a row, xrp remains my number 1 choice for the week. Like last week, xrp will likely continue to pump upward based on the hype from the swell conference. And if Swell delivers the hinted at major announcement, next week may also be a bullish week for xrp. This coin is being adopted by financial institutions around the world, and commercial phase begins in October. This could spark a major rally for xrp as it gets adopted worldwide. This coin is a long term hold, as 2018 is also looking very promising as more and more banks switch from Swift, to Ripple.
- Bitcoin ( btc)
The big guy is on a major bull run right now due to the upcoming fork. Bitcoin is about to press for a new all time high, which will likely occur in the next few days if not hours. The reason people are buying into bitcoin is because there is a hard fork coming up in November. The last time bitcoin forked, everyone holding bitcoin was given a 1:1 ratio of coins from the work, which went to a value of nearly 800 usd per coin. It was a free handout for everyone, and so now that bitcoin is forking again, everyone is jumping on the bandwagon to get the next 1:1 ratio in hopes of another successful massive handout. As a result, I expect bitcoin to rise possibly by a few more thousand before the November fork. Be cautious however, as this may be creating a bitcoin bubble, in which, we see a massive sell off after the fork. Potentially this money could flow into alts.
- We Trust (trst) https://www.wetrust.io/
We Trust is an insurance and lending company using crypto currency. If they are successful, this coin has major potential to see some major gains, as currently its only at about 35 million for a marketcap. Their platform is launching at the end of the month, and so I believe this coin is a good deal anywhere between 25 cents and 40 cents.. Currently at 28 cents, I would say you will see generous returns by the end of October, but the real value in this coin is in the long term.
4.Syscoin ( sys) http://syscoin.org/
Syscoin is releasing masternodes in early November, and their blockmarket web in December. It has been quite, and slowly dropping in value these past couple of weeks, which makes me believe that it’s due for a rally. Holding this coin for the long term however, is the likely the smarter play, because as time goes on, the syscoin marketplace will grow, and syscoin will be used along side the ethereum economy potentially making this coin soar.
- Qtum https://qtum.org/
I have heard a lot of news about Qtum lately possibly announcing new partnerships and development progress. I honestly haven’t done a lot of research on this one myself, but the news I’ve heard is pretty positive so I’m sharing it with you. Qtum is a long term hold, as what they’re trying to do, is going to take time to accomplish.
As a side note, a couple other noteworthy coins, are Verge ( xvg) because they are about to release their wraith protocol, which comes equipped with an anonymous atomic swap function, which is a big deal.
Basic attention token ( bat ) is supposed to be releasing Mercury into the brave browser this coming week, however, it has been delayed twice, so its hard to know if its actually going to happen this week. However, it’s price has dropped far enough, that it should be a good buy and hold.
That’s it for this week, see you next week! Happy investing!
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