Every week I lookout for some coins which might be in for some positive price action and thought I would share this with the kind people on Publish0x who might find this interesting.
This is really focussing on short and medium term investments.
W/C: 30th March 2020
I would like to start off by saying we are in an unusual period of time with COVID-19 this has resulted in the past month having significant impact in both cryptocurrency markets and traditional markets, therefore I would take extra precautions with monitoring and setting stop-losses if you plan on trading.
1. Bitcoin (BTC)
What is it?
I’m not going to explain what Bitcoin is because if you don’t know then you shouldn’t really be looking at this article and getting your foundational knowledge before even thinking about looking at investing in coins.
Reason to Monitor?
The Bitcoin halving is coming up in 44 Days, yes this has been the main news surrounding Bitcoin and price action for the past year and it’s nearly here.
Mid March we saw a dump on the price of Bitcoin down to nearly $4,500 and since then it has recovered to mid $6K which is still $3k off the price at the start of March.
I don’t anticipate it will get back to $9k till there is light at the end of the COVID-19 but I am expecting some price action over the next few weeks.
2. Chiliz (CHZ)
What is it?
Chiliz is a digital currency that fuels sports and entertainment platforms and is also the official, exclusive cryptocurrency that fuels the Socios.com fan voting platform. Socios.com allows sports and esports fans to crowd-manage their favourite teams, games, leagues and events.
More details can be found on this article I wrote on Publish0x
Reason to Monitor?
I have been following Chiliz for a while now and recently it had cryptocurrency news headlines with a partnership with FC Barcelona for fan tokens.
An independent report was conducted by Blockfyre and they scored Chiliz 50/60
Partnership with other reputable cryptocurrency company such as Enjin and Chainlink for minting NFTs on their platform.
Anyway all of this is old news, what is coming up that i’m interested in…. Chilz exchange platform is going to be launched in April.
This will allow traders to exchange fan tokens on the exchange platform which is something a lot of people are looking forward too.
3. Binance
What is it?
Binance is the cryptocurrency exchange founded by Changpeng Zhao and He Yi in July 2017. Binance started with an Initial Coin Offering (ICO) and has since grown into one of the largest global cryptocurrency exchanges, both in terms of volume traded and market share by web traffic.
Reason to Monitor?
I’m keeping a keen eye on Binance and expect it to follow suit or outperform Bitcoin over the next couple of weeks. I think we have learnt that the majority of cryptocurrency are still moved by price action on Bitcoin.
Binance are continuing to lead in innovation and adoption with recently announced they will be following Coinbase and releasing their own Debit card in the next few weeks and introducing an Brave browser based exchange widget.
I will try and endeavour to create a daily price action summary with a conclusion on Sunday which might be useful for tracking analysis.
If there is anything more you would like for these article to include please leave in the comments. Hope you found this information useful.
Legal disclaimer: This is my personal opinion based on the research I have conducted, this is not professional financial investment advice, please conduct your own research before investing.
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ETH: 0x13Fd2a32441b1F7C0630E9bC948fd785C2366D4d
