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2 Explosive Altcoins That are Undervalued – Buy the Dip

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There is a lot said about the high market cap cryptocurrency coins. I wanted to go over 2 undervalued coins that could be on the verge of exploding upward. Let’s get right to it.

Coin 1: NLC2


NoLimitCoin (NLC2)



Reasons to Watch

1. NoLimitCoin is currently ranked 98 according to Coinmarketcap. When a coin makes it into the top 100 it starts getting a lot more attention. Once it hits the top 50, it will be analyzed by a lot of the top investors. It’s good to get a position in a coin before it crosses the top 50 threshhold. While altcoins are get the crapped kicked out of them NLC2 is moving up against the grain. If you look at the rankings you will see most coins in this range have gotten hammered this week from the upcoming bitcoin fork. However, NLC2 has gained 3% in the last 24 hours as of now.

2. NoLimitCoin has a beta product out that is currently being used. In an industry where almost 80% of altcoins don’t even have a product released yet this is a very good sign.

3. NoLimitCoin has not hit the biggest exchanges yet. It currently has a market cap of $42,020,962 currently. I would expect this to rise when they hit a major exchange such as Bittrex or Binance.

Looking at the 6-month chart you can see that there was a downtrend, however, over the past couple of days the trend has begun to change. What you don’t want to do is buy a coin when it is at its highest point so you want to look at altcoins that have the potential to explode up in a parabolic rise when something major happens to it. As I said earlier, NoLimitCoin has not hit the top major exchanges yet so it has a very good chance to increase its market cap and jump considerably. It has a working product and has just released a new UI (User Interface) which partly contributed some to the spike. NLC2 has a strong community behind it and a lot of its bigger marketing plans have not even been fully implemented as this point from what I gather from the community. This is one to watch as I believe they are releasing more features to their product in the near future.

Coin 2: PIVX


Pivx (PIVX)

If you look at PIVX you will see it has been on a downtrend as well (Most altcoins have been). This is another coin that is currently undervalued. If you look at the monthly chart you can see that the MACD line is crossing upwards over the signal line. The signal line is the 9-day EMA (Exponential Moving Average). When the MACD (Moving Average Convergence Divergence). MACD is calculated by subtracting the 26-day exponential moving average (EMA) from the 12-day EMA. What this means is that PIVX could go on a bullish (upward trending) run. For those that may not know, the MACD and the Signal line are the two lines that are under the candle chart. These two indicators are incredibly useful when studying coin charts to help you decide the current direction of the coin. What is also important to look at is the volume which you see as gray bars directly under the candle chart.

Reasons to Watch and Buy

1. PIVX stands for Private Verified Instant Transaction. PIVX is a privacy coin. If you look at other privacy coins you will see that they do amazingly well. Coins such as Monero, Dash, ZCash, Verge. PIVX is a 100% Proof of Stake coin which means it doesn’t rely on miners and rewards through Proof of Stake. So it depends on masternodes to verify transactions. Users can buy into the coin and after buying so many coins be eligible to own a masternode and get rewarded for helping with the stability and processing of coin transactions. This coin has the potential to follow in the footsteps of Dash coin as it was forked from Bitcoin just as Dash. Dash now has a $2 Billion dollar market cap while PIVX is at $153 million. This is very undervalued coin in my opinion.

2. PIVX is a true privacy coin. Unlike Bitcoin where all transactions and addresses are store on a public ledger where anyone could possibly trace the address to a person, PIVX has implemented a protocol called Zerocoin which allows block-level chain anonymity. I don’t know about you but if I had millions of dollars I wouldn’t want my transactions to ever be traced back to me. PIVX prevents that from happening.

3. PIVX just released the final version of their wallet. They are delivering their product which is a big deal as a lot of companies are nothing more than a whitepaper and a fancy website. They are currently working on more security features as well as a completely encrypted, secure chat system within the wallet.

4. PIVX is currently being considered by Binance.com to be added to their exchange. This would definitely affect the price.

5. PIVX allows you to buy coins in order to receive a masternode. You will get paid just for maintaining this masternode as it will be used to process PIVX user transactions. You can also earn interest on any amount of PIVX you have as long as it is in your PIVX active wallet. So you will be getting paid to hold PIVX coins as well as enjoy profits as the coin rises in value on the exchanges as well.

That’s all I have for now but I will continue analyzing coins in my upcoming articles. CryptoDayTrader out…

Featured image courtesy of Shutterstock. 

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.6 stars on average, based on 46 rated postsKent Hamilton - ICO Analyst on Hacked and Founder of CryptoDayTrader.io - ICO Insider Info




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5 Comments

5 Comments

  1. fermera_dany

    November 4, 2017 at 7:56 pm

    I like this new additional type of articles.

    Thank you.

  2. nomiaqil

    November 5, 2017 at 10:43 am

    I like the roadmap of NLC, if they’re able to stick to it.

  3. DominicPaul

    November 6, 2017 at 12:11 am

    If its not on the major exchanges, how do you buy it?

    • Kent Hamilton

      November 6, 2017 at 12:29 am

      Hey, NLC2 is on these exchanges in order of volume. You can see this info on Coinmarketcap as well. Just because they are not on the major exchanges doesn’t mean they are not on any exchange:

      1 YoBit
      2 Cryptopia
      3 C-CEX
      4 Cryptopia
      5 CoinExchange
      6 Novaexchange

      YoBit and Cryptopia are decent exchanges. The good thing is that the price may jump once it does hit a major exchange such as Bittrex or Binance

      PIVX is on Bittrex and they are currently trying to get listed on Binance

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Altcoins ADA, BAT, XLM, ZEC and ZRX Enjoy a Coinbase Pop

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The Ethereum price wasn’t able to hold onto its gains today despite seemingly marching toward the $500 level on Monday, as market technicians have predicted that the downward trend remains intact despite yesterday’s rally. Meanwhile, daily trading volume in the cryptocurrency market is hovering at about $13.8 billion compared to its 2017 peak of more than $50 billion, as per CoinMarketCap data cited in reports.

The more trading in digital currencies, the higher the revenue of bitcoin exchanges like U.S.-based Coinbase, which incidentally is in the process of adding a handful of altcoins. While it may seem that Coinbase’s answer to the weaker average trading volume these days is to bolster its platform with more coins, a leading exchange executive said that’s not the case. Coinbase Vice President and General Manager Adam White told CNBC that customer demand fueled the decision.

“Certainly volumes today are lower than they were at the end of Q4 and January. The idea behind adding new assets is very simple: our customers want it,” White said, adding that more than 20 million individuals are signed up on the exchange in addition to institutional investors, the latter of whom are demonstrating “unprecedented” interest in the space.

The assets that Coinbase is moving toward adding include Cardano (ADA), Basic Attention Token (BAT), Stellar Lumens (XLM), Zcash (ZEC) and 0x (ZRX). And while these coins are likely to be directed to the exchanges indexes, their presence does not reflect a bullish position on the part of Coinbase, White noted. Nonetheless, let’s take a look at each of them.

Cardano (ADA)

eToro exchange just published a report focused on Cardano, referring to the smart-contract-fueled platform as “Blockchain 3.0.” Cardano remains in the nascent stages but it’s designed to pick up where the Bitcoin and Ethereum networks fall short on scalability. ADA has advanced about 13% since Coinbase’s Friday announcement. But Cardano has shed more than three-quarters of its value since the beginning of the year.

Basic Attention Token (BAT)

Basic Attention Token describes itself as a “blockchain-based digital asset” startup. BAT is advancing more than 4% today and has been among the top performers since Coinbase announced plans to add the coin. BAT has added 33% to its value since the Coinbase announcement.

Stellar Lumens (XLM)

Stellar is advancing about 1% today and has tacked on about 28% since the Coinbase announcement. The coin also got a boost when the SEC Thailand said that Stellar would be an acceptable form of payment by iPO issuers. A Stellar follower on Twitter joked that soon XLM would be accepted at every McDonald’s.

Zcash (ZEC)

Privacy coin Zcash is up almost 2% today and its value has ballooned by 22% since the Coinbase announcement. ZEC was also added by fellow U.S.-based cryptocurrency exchange Gemini in recent weeks, so it has the tailwind of both listings.

0x (ZRX)

The thing about 0x is that it already had a relationship with Coinbase ahead of the listing announcement. So much of the enthusiasm for a listing may have already been baked into the price. ZRX is shedding some ground today, down about 1%, but it’s up about 48% since last week.

Disgruntled XRP Investors

Coinbase was accused by some XRP investors, a community that has been waiting for their Coinbase day in the sun, of price manipulation in the altcoin the exchange announced it’s exploring now.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.6 stars on average, based on 23 rated postsGerelyn has been covering ICOs and the cryptocurrency market since mid-2017. She's also reported on fintech more broadly in addition to asset management, having previously specialized in institutional investing. She owns some BTC and ETH.




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Altcoins

Dogecoin Price Surges 20% After Robinhood Listing

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Dogecoin has been one of the day’s biggest movers, climbing 20.8% and trebling its daily volume in the process.

Given that we’re dealing with DOGE, we’re going to have to make full use of our decimal places. This time last night one DOGE coin was trading at a price of $0.0024. Fast forward 24 hours and its value now stands at $0.0029 – that’s a 20.8% growth which has come fairly steadily over the last day, except for the brief spike which sent it to $0.0027 at 6pm (UTC) last night.

Today’s movement puts Dogecoin at 31.8% gains for the week, based on the $0.0022 starting point seven days ago.

Looking at DOGE’s monthly numbers, we see that it has now returned to the monthly high with its breach of the $0.0029 mark today. But as is always the case at this stage of a market downturn, such numbers require to be placed in the larger context. Three months ago, during the mild peak of April, one DOGE was worth $0.0058, meaning that even with today’s growth factored in, Dogecoin is still down 50% over the last 90 days.

Robinhood and DOGE

Recently launched crypto exchange, Robinhood, added Bitcoin Cash and Litecoin just last week, and now a press release has dropped which signals Dogecoin’s integration onto the Robinhood platform. As stated in the release:

“Starting today, you can invest in Dogecoin on Robinhood Crypto, commission-free. With last week’s announcement of Litecoin and Bitcoin Cash, you can now invest in five different cryptocurrencies on Robinhood.”

Robinhood is a U.S based exchange which offers compatibility with stocks and ETF trading, as well as cryptocurrencies. The service is only available in the U.S at the moment, but has not yet been rolled out across all states. According to Robinhood they are currently working on extending their reach beyond the current 17 states they have already.

“We’re working hard to make Robinhood Crypto available to everyone, and it’s currently available in 17 states: AZ, CA, CO, FL, IN, MA, MI, MS, MO, MT, NJ, NM, PA, TX, UT, VA, and WI.”

Beyond the Meme

Everyone will be somewhat familiar with DOGE’s humble beginnings in the crypto space, and many initially derided it for its seeming silliness and triviality.

Yet the community at large thought differently, and eventually DOGE grew in stature to become a regular fixture in the top-100 coins, and has taken its position just in front of the fire in the cryptocurrency living room.

During January’s peak DOGE reached a market cap of over $2 billion and a price of $0.0178. DOGE’s 11 billion circulating supply contributes to keeping its relative value down, but Dogecoin has often popped up as the most transacted cryptocurrency in existence at certain times, although not necessarily the most valuable.

Featured image courtesy of Shutterstock. 

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.4 stars on average, based on 23 rated postsGreg Thomson is a full-time crypto writer and digital nomad. He eats ICOs for breakfast and bleeds altcoins. Wherever he lays his public key is his home.




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Altcoins

TenX Price Up 47%; Anomaly Detected on Bithumb Crypto Exchange

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TenX (PAY) was at the nice round number of one dollar last night before triggering a run which saw it spike to $1.47 by 2am (UTC). Since then the price has dropped back down to the $1.30 mark, but that still represents 30% gains for the day.

Just last week, TenX was priced at a value of $0.58 per token, with a market cap of $60 million. But in the last few days the PAY token has soared into the market cap top-100 and has hit 153% growth for the week. A daily volume of around $4 million at the start of the week has been replaced by peak volumes of $70 million over the last 24 hours.

The price may have dipped in the last few hours, but a glance at the daily volumes actually shows an increase, suggesting that TenX’s movements for the day aren’t over yet.

Bithumb Anomaly

PAY tokens were temporarily unable to be withdrawn on the Korean exchange Bithumb in the early hours of this morning. The lack of influx of new funds created a supply shortage on the platform, thus pushing the value of PAY tokens to a value of $7.32 – that’s a 632% growth in value, purely because of a temporarily disabled withdrawal system.

The volumes being traded on Bithumb amount to $200 million, and predictably all come in the form of direct trades between PAY and KRW (South Korean Won). That volume alone in 11 times the total recorded by CoinMarketCap at this given time.

Besides Bithumb, the most active exchange for TenX has been Upbit, followed closely by Bittrex, where BTC trades make up the vast majority. In fact, if we exclude the KRW trades from Bithumb (which we officially should) then we see that PAY/BTC trades make up over 75% of the total daily volume.

A History of Volatility

TenX’s overall charts make interesting reading. The ATH for PAY tokens was not in December-January as one might expect, but in August 2017 when one token was worth $5.33 and TenX had a market capitalization of half a billion. December’s peak, by comparison, only took PAY to a value of $5.00, but with the same market cap.

Barring a surge in April, TenX has been falling since January. Although the movements of the last two days may suggest a sudden change of sentiment. On July 16th, less than 48 hours ago, TenX was sitting at a price of $0.72. That means that it has grown by 104% since Monday.

Such movements usually trigger calls of the dreaded pump and dump, but TenX’s history shows a tendency for such dramatic movements, and this might just be par for the course. You can read more about TenX’s features here in this comparison against ICON.

Featured image courtesy of Shutterstock. 

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.4 stars on average, based on 23 rated postsGreg Thomson is a full-time crypto writer and digital nomad. He eats ICOs for breakfast and bleeds altcoins. Wherever he lays his public key is his home.




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