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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 52 rated postsKent Hamilton - Co-Founder of CryptoDayTrader.io, where we are building Pro Crypto Tools




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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

Cardano Price Analysis: ADA/USDT is Eyeing a Big Move Out of Current Technical Setup

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  • Positive update from IOHK audit of Icarus by Kudelski Security.
  • ADA/USDT is moving within a pennant pattern formation, subject to breakout.

Solid Icarus Audit reported by IOHK

IOHK recently announced in their forum that an audit was conducted by Kudelski Security, which is an independent and third-party security audit firm. The audit conducted demonstrated that the Icarus project implementation for Cardano looks all good and set to go, without any major problems. However, a few changes may need to be executed. IOHK developed the Icarus code as a reference implementation, for Cardano light portfolio.

The important of “independent audits, like this one was stressed by IOHK. Stating “they are critical for identifying security issues in the Icarus wallet, that may not have been identified by internal audits”.

Furthermore, IOHK has elucidated Icarus as an open source code base serving as a reference for the creation of safer and easier mobile wallets for Cardano. They said, “this guarantees our customers and clients the safest portfolio we can offer.”  Given the benefit of an external audit, the developers can resolve any problems identified during its product launch audit.

Positive Updates from Cardano Founder

Cardano’s founder, Charles Hoskinson, was recently commenting on Cardano’s future. He said “We have so many amazing things coming out.”

Mr Hoskinson further added that one of their scientists has flown in from Switzerland. They will be doing a video, which will be the first time they have ever talked about their sharding design that we have for Cardano. Further commenting on other updates, including videos about Shelley and the Rust project.

Technical Review – Daily Chart

ADA/USDT daily chart

ADA/USDT is moving within a triangular pattern or a pennant formation, as seen via the daily time frame. It is narrowing, moving closer to a breakout. Ranging ahead of another drop to the deep south. Although, fundamental developments coming out from the Cardano foundation, remain very much upbeat currently.

Over the past 8 days, the price has been grinding higher, after receiving support at the lower trend line of the above-mentioned pattern. In terms of resistance to the upside, this can be seen at 0.08310000. The upper tracking trend line. Further north, a supply zone is running from 0.09000000-0.09500000. ADA/USDT  last traded here on 23rd September. Finally, support is tracking at 0.071800000, lower part of the pennant, also within a demand area. Another strong buying territory is observed from 0.06500000-0.06000000.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

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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4.5 stars on average, based on 33 rated postsKen has over 8 years exposure to the financial markets. During a large part of his career, he worked as an analyst, covering a variety of asset classes; forex, fixed income, commodities, equities and cryptocurrencies. Ken has gone on to become a regular contributor across several large news and analysis outlets.




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Altcoins

Zcash (ZEC) Up 16% For Week as Sapling Hardfork Approaches

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Privacy coin Zcash (ZEC) gained 16% on its value from Monday through to Saturday as anticipation builds regarding the upcoming Sapling update.

The update, which will require a hardfork, aims to make improvements to shielded addresses, including reducing the time it takes to create them and the amount of memory used when doing so.

October proved to be a productive month for Zcash, with the coin recently being added to the Bitnovo platform, which will see ZEC become available for purchase in over 20,000 physical stores throughout Spain and Italy.

ZEC/USD

In the calendar week leading up to Saturday, Oct 20th, ZEC climbed just over 16% against the dollar, on its way from a valuation of $107.54 up to Saturday afternoon’s peak of $1124.96.

Trade volumes grew steadily in that time, without much violent fluctuation. Instead, overall trade movement rose quietly from $57 million to $83 million, suggesting a more ‘natural’ progression than many spikes of late.

Saturday’s peak marked a weekly high for ZEC, and stands higher than the valuation with which the coin opened the month. With that said, the monthly high of $145 which landed towards the end of September is still some way off.

Sapling Hardfork

The Zcash twitter team have been building up the anticipation all week in the lead up to the Sapling update, and have earmarked October 28th for the initiation date – as per the Saturday’s tweet:

“Activation block 419200 will be mined October 28, 2018 18:21 UTC-05:00 assuming 150 seconds/block.”

The update is expected to improve the ZEC blockchain’s handling of shielded addresses. According to a recent blog post:

“Sapling is a network upgrade that introduces significant efficiency improvements for shielded transactions that will pave the way for broad mobile, exchange and vendor adoption of Zcash shielded addresses.”

More details on the update can be read here.

Zcash Gets Bitnovo Integration

The other big piece of news to come out of the Zcash camp this week is the Bitnovo integration. Bitnovo facilitates in the buying and selling of prepaid cryptocurrency vouchers, which can be filled with a choice of various currencies. According to this week’s tweet:

“You can now purchase $ZEC #Zcash at over 20.000 stores in Spain and Italy with @bitnovo with full privacy and straight to your favorite wallet!”

The firm also deal in refillable cryptocurrency credit cards which users can use in physical stores, while offering up crypto ATM’s to store owners and businesses.

How much the Bitnovo deal will boost Zcash’s numbers remains to be seen, but having the ZEC ticker plastered across products in mainstream stores is sure to increase its recognition.

Besides that, Zcash remains one of the as of yet unlisted coins among the five which Coinbase singled out earlier this year. Basic Attention Token recently pumped on the Coinbase anticipation, and ZEC’s turn may also be coming before long.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

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 81 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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Is BTC Still the Real Bitcoin? Not According to Roger Ver

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Anyone familiar with Roger Ver may have already heard him proclaim the benefits of Bitcoin Cash (BCH), while deriding the development path taken by Bitcoin (BTC).

That development path has been largely guided by the overseeing hand of Blockstream – a privately funded company which has itself provided much of the funding for Bitcoin’s development.

A Departure from the BTC Vision

While Roger Ver’s constant assault on Blockstream and BTC on Twitter may prove irksome to some – it does appear to be founded on genuine reasons. Ver believes that features like the Lightning Network and Liquid Network detract from the original ideals set forth by Satoshi Nakamoto in the original Bitcoin whitepaper.

Furthermore, Ver and many others maintain that Blockstream purposely derailed the development of Bitcoin, purely so that they could then step in and get rich selling a product that was never needed in the first place.

As Ver recently told his Twitter followers:

“Supporters of lightning network intentionally crippled the world’s best working and most popular cryptocurrency (Bitcoin) in an attempt to push people onto something that doesn’t work, isn’t ready yet, and may never be able to work!”

The crippling of Bitcoin Ver refers to is the refusal by Blockstream to increase block sizes in order to increase scalability. What many believe should have been a straightforward issue – and one that was even touted by Satoshi Nakamoto himself – eventually became a farce.

Rather than increase block sizes on the Bitcoin blockchain to hold more transactions, Blockstream instead decided to create and sell their own products, such as sidechains and the Liquid Network, in order to solve the (self-sustained) scalability problem.

Earlier this week, Ver tweeted:

“BTC is the only coin in existence with intentionally limited on-chain capacity.”

Conflict of Interest?

As for Blockstream, they have made no secret of their intentions to make money from their Bitcoin activities. The company plans to provide sidechain services for investors using the newly created Liquid Network – a system which sees Bitcoin swapped out for a pegged sidechain token.

Some people may see a conflict of interest here. But even if we put conspiracies and speculation aside, this tweet by Blockstream CEO Adam Back suggests they aren’t too interested in maintaining the Bitcoin mainchain:

“I bet they’d pay $100/tx for digital gold, and mid-sized international remittance, I would. Still be really good if fees were much lower.”

The tweet refers to speculation on what the future price of a Bitcoin transaction would be, and seems to confirm that Blockstream see Bitcoin as a remittance tool for large-scale investors, rather than cheap, efficient P2P digital cash.

When Bitcoin started it was supposed to be a decentralized, permission-less, trust-less, immutable and therefore uncensorable alternative to the existing financial hierarchies and centralized infrastructures.

Even if you like the idea of Lightning Network hubs, block producers, and state channels, one thing you can’t say about them is that they’re decentralized, permission-less or trust-less.

Bitcoin Cash (BCH) was forked from Bitcoin in 2017 after many in the BTC community became dissatisfied with the blockchain’s direction. Bitcoin Cash essentially acts as the pre-Blockstream version of Bitcoin.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

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 81 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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