ParticuLarry wrote:Well, Ada can potentially reach 5 $, but due to the possible amount of coins it would need a market cap of the current bitcoin to reach it. So right now, ADA is a really good investment, especially since it contonues to receive updates.
I don't know the other coins, so I can't say much about it.
What are your say top 5 coins and why? If it is not a secret of course
Disclaimer: I'm not a financial advisor. Right now I'm merely a gambler. It's always better to make your own analysis, which I don't know how to do, but plan on studying. You should only trust your own analysis.
Well, of course this isn't a secret. But it depends on how you define "best".
If you're thinking about how to make the most profit, get binance and try to find coins that look good for a pump and dump (that hedge funds invest in in order to get people to buy the coin, only to sell it high to them and thus dump the coin, so others are left with a useless coin, while hedge funds ripped greedy guys off their money). There are currently elongate and mooncoin that are pumped like crazy. They'll drop in price in the next couple of days/weeks though. This is only good for daytrading, to ride the wave if you're early but not a long-term success as those coins are usually worth nothing. And this would require you to keep up-to-date all the time. Like... literally.
If you're asking in what coins I would invest in: the same coins I invested most of my money in last year.
ADA (which I took significant returns from) It gets constantly updated and brings the whole blockchain technology a step further. From all coins existing, I think it still has the best short to mid term potential. I bought my first position at 0,11 dollars. I sold most of it when it was at 0,65 dollar. Now it's worth 1,20 Dollar. It still has room to grow up until it reaches 5 dollar, where it will become significantly harder to expand, but still possible.
Miota (which I sold too early
) It's already in use in the energy sector. So it's pretty much guaranteed to stay for a long time. Imho it can only grow. I bought it back when it was 0,40 dollars, but then I shifted my portfolio in January and sold before its great price increase. I still made about 20% profit, but it could've been much more. It's worth 2 dollars now.
Bitcoin. I mean come on... it's the grandfather of the whole technology. It's pretty much guaranteeed to stay forever. You can already buy them via paypal as well. It's growth potential is still existing. It could reach 500k dollars per coin. It's currently at 50 k. I bought it at 18k and sold at around 36k.
XLM. Tbh, I just went with the flow since I wanted to get money from Bitcoin's halving, so I invested in some of the most popular coins without even checking them
XLM is one of those coins. I bought it back at 0,18 dollars and sold it at 0,36. It's worth 0,5 dollar now. But I don't know much more about it tbh. Fans and other people online do speek positively of it though.
TRX. This is a coin I was adviced to buy, which is what I did. I bought it at 0,03 and over half a year it didn't increase much. I sold, again, too early and sold at 0,031. It's worth 0,129 now.
That being said.... I don't think investing in crypt NOW is a good idea. The bullrun caused by the last halving of bitcoin last year is almost finished. That also means that for about half a year after that bullrun is finished it will only drop slowly. Then it will "stabilize" at a lower price before the next halving happens, which again, causes a bullrun. Bitcoin is in most cases still the defining factor of crypto's in general. That means, if bitcoin drops, the general trend of the coins will also be negative. There are only few coins that can actually break that relationship to bitcoin, ADA for example.
In general I think you can only win in crypto trades with 2 strategies. 1) Investing shortly before the bitcoin halving happens. 2) Investing in coins that are about to have their halving.
That being said, rn I'm all in Gamestop. I don't trade cryptos anymore, at least until bitcoins next halving. Yesterday (monday) all cryptos went down by 6-20%. To me, it looks like hedge funds are taking out money in order to cover their short positions in Gamestop. So a short squeeze will probably happen, and as a result, a market crash will be almost guaranteed. Side note: From the biggest US stocks, gamestop was the only one that closed in green yesterday. So it really looks like hedge funds are taking out their money to cover their short positions.
So right now is not a good time to invest anything imho. At least until we know whether a short squeeze indeed happens or not. Because it could all be a fluke and I could lose all the money I put in gamestop. But well... as I said, right now I'm just a gambler.