Ready for a new week? Lets see the results of our super altcoins that we chose last week.
Bitcoin Cash. Nothing really changed for this altcoin. From a few dollars over $1,000 to a few dollars under $1,000. Todays performance is very good and I decided to keep my trade a bit longer.
Ethereum. I cant count how many investors I have seen panicking on the online forums! Ethereum went from $698 to $460 in less than a week! I have had many messages about this, not only for the weekly trading, but also because many students have a long-term investment on Ethereum (including me!). I confirm what I said: if you dont believe in Ethereum, you dont believe in cryptocurrencies at all! Almost all the new altcoins are based on Ethereum platform. Im sure that this altcoin will be alive for a long time and Im not really worried about its future. As I said to some traders, I wanted to buy more at $400, but the price went to $460 and then started to recover the losses. Todays price is $550, with an astounding +16.26%.
Neo. I suggested to take Neo around $80, the price went below $80 and it is currently at $69, but there is a very strong uptrend at the moment that is pushing the altcoin again towards $80 area.
Aragon. This cryptocurrency had a nice start, going to $3.60 during the first day. Then the terrible week affected Aragon as well and todays price is $2.81.
Lumen. Same trend for this altcoin. A nice start, followed by a crash and now recovering very fast.
Another very hard week, I lost almost 3% of my account. It can happen in any financial market, especially if you usually trade indices or stocks of a particular industry. As I wrote in last article, it is important to minimize the losses and maximize the profits. Im ready to take the most off my trades if the market changes direction.
The altcoins for this week are:
1. Bitcoin Cash (BCH)
Once again, Bitcoin Cash! The price is more or less the same I suggested last week, this time it is coming from a very strong uptrend.
2. Zcash (ZEC)
Zcash is another popular choice among investors. This week, I have decided to take it for three main reasons:
- The demand is increasing a lot on the major exchanges;
- It has one of the best performances for today;
- Investors were pushing it towards $1,000 at the beginning of the year, now we have the chance to add this solid altcoin (#25 market cap) to our portfolio for less than $250.
3. Aeon (AEON)
The potential of this altcoin is huge! Last week we had the chance to buy it at $1.58, so $2.15 might look a bit expensive. I suggest to wait for a price around $2 and buy it.
4. GameCredits (GAME)
This is the second time that I propose this altcoin. Last time, we had a nice profit and the price was $2.23. This time we have the chance to take it for $1.35.
5. NewEconomyMovement (XEM)
XEM costs just $0.29, but dont be fooled by this! Its not the latest cryptocurrency launched by a small company. It is going to celebrate 3 years on the market next month and currently is in the top 15 cryptocurrencies ordered by market capitalization!
This week has started very well for the cryptocurrency market, lets see if the trend continues!
Im only sharing my opinions and this is not a solicitation to buy/sell cryptocurrencies. Cryptocurrency trading has large potential rewards but also large potential risks, so use your head and do not invest money that you cant afford to lose.
Good luck!