Happy weekend, party people!
Oh, not the happiest of weekends? Red numbers got you down? Been watching the crypto markets a little too closely? Afraid of becoming a bagholder?
Fret not, we’re here with an idea or two (or five): coins that might fall into bargain hunter territory.
First up, though, a word or two (or fifty) on some of the big boys and their performance during the past week.
Bitcoin, Ethereum, Litecoin Holding Their Own
It’s been interesting to watch the scuttlebutt and listen to the pontificators asking about what August 1 – when Bitcoin’s big Segwit situation gets sorted out – will do to the BTC price. And it’s also been interesting to hear what the thinking is on Ethereum and the ICO marketplace and the fact that tons of coins seem to be getting tons of money out of nowhere, all built, it seems, on the Ethereum platform or raising money in Ether. And whether Litecoin does anything huge in the interim.
BUT…all three seem fine.
While BTC has stabilized in price at around 2500, we should note that, while both LTC and ETH are also stable, there’s a bit of a difference in where ETH is relative to its 2-week range.
- BTC: High of 2720, Low of 2168. It’s a range up/down of 552. Its current price is right around 58% of its range. Close to that Fibonacci level of 61.8%.
- LTC: High of 55.40, Low of 32.37. Range up/down is 22 bucks, and its current price is at 68% of its range. Sticking around there for a little while, maybe…
- ETH, however: High of 318, Low of 204. Range up/down is 114. Right now, it’s at around 31% of its range. Key Fibonacci levels are 23.6% and 38.2% – 31% is right at the middle.
UPSHOT: WATCH THE ETH PRICE. Watch for support either above or below those percentages: 230.79 on the low end, 247.75 on the way up. These could be good levels to buy on the way up, or to sell on the way down.
Now, let’s return to the regular programming.
Five Coins for Bargain Hunters
1. Library Credits – LBC
Open source YouTube competitor? Democratized payouts? Sounds just a little like Steemit to me.
But I’m game on the product – if you want to sign up on the wait list, you can use this referral link to do so, and we might move up in the line. But then again, you’ll get your own referral link and you might move up in the line, too.
From an *INVESTMENT* standpoint, though, this one, we think, has some serious potential. Here’s why:
It launched in July of 2016 at north of 120,000 Sats. Then it popped – heading to 280,000 Sats before coming back to Earth. Then it stuck around in the four-digit Satoshi level until May of this year, and flirted with 25,000 Satoshis until recently.
The reason for its climb of late: it’s starting to come into its own as an actual site with merit – not just as a coin that could have potential. In other words, past its growing pains as a startup, it’s now ready for prime time.
You can get LBC for around 17-18,000 Sats. Anywhere below 20,000 might be good to accumulate.
2. Steem – STEEM
Steem is the coin. Steemit is the platform. Steem can be converted to Steem Dollars, too.
I’m on this platform daily and, to be honest, I don’t totally “get” it yet. HOWEVER, I see it moving northward from here, and I’ll give you three reasons why:
- Controlled, stable growth. Despite the fact that the site is adding around 5000 users a day of late, the site still only has somewhere in the neighborhood of 250,000 users worldwide.
- Active community that gets paid for content. I haven’t profited much from the site just yet, but, to be honest, that’s not why I’m there yet. I’m there because it feels a lot like the early days of Twitter to me. Less negativity, and more content to sink your teeth into.
- Bagholders that need the site to come back. Yes, I said that out loud – quite a few people are there because they were on the site early, had tons of coins when they were worth 500-650,000 Satoshis each. They now trade at 60,000 or so – with recent highs of 80,000 Sats.
60-80,000 Satoshis would still be a bargain when compared to last year’s prices. The question is whether it will get busy enough to head into 100K territory and beyond.
BTW, sign up for an account now. Go to Steemit for more details.
3. Stratis – STRAT
How could a coin that has gone up from 7300 to 171,000 be a bargain?
Well, this coin’s team has hit pretty much every development milestone. In fact, 171,000 is today’s price; 435,000 was the price just six weeks ago.
We think the recent pullback is mostly because of the overall market pullback.
It’s also an “enterprise platform coin” – in other words, the coin/token fuels the platform for corporate and enterprise clients. So those big corporates looking to get into the blockchain can – and do – call up the Stratis people and say yo.
Say yo yourself at somewhere below 200,000 Sats.
4. Antshares – ANS
It’s the Chinese Bitcoin.
It has gone from 15,000 Sats to 367,000 Sats – 24x – before pulling back to 285,000 or so today.
If there’s one project that could potentially have another 24x up its sleeve before the end of the year, this one may be it.
5. Bitshares – BTS
This is a mysterious platform – to me at least – and it has been around for nearly three years. Most mysterious: the price now is around what the price was in late Summer 2014.
This looks a little like Stratis and a little like Ripple and a little like…well, it’s kinda sorta an enterprise blockchain thing meets a trading platform.
That price, tho: 13,000 Sats a couple months ago, 6000-range now.
Considering we’re now below where the coin was in September of 2014, you might consider accumulating up to 8000 Sats.
Remember, do your own research. We’re not responsible for any gains or losses. Seek professional counsel for things like legal and tax ramifications. Stay woke.