Buy, Sell and Hold Cryptocurrencies 1/5/2021

By Edwin TechKnow | Edwin TechKnow | 5 Jan 2021


Just a disclaimer (I will put this at the top) - I am not a financial advisor. All that is written is my own opinion. 

In the last 7 days:

Bitcoin - According to data, a small sell-off started to occur after BTC reached new heights. A portion of this money was put into Tether and it appears that some altcoins were pumped as a result. There should be more institution money coming and as a result Bitcoin should start climbing again. If you have not already taken a chunk for yourself I would hold for now. If it dips below the threshold of 30K, you may want to reconsider or see it as a buying opportunity. Analysis:  Hold/Buy

Ethereum - Eth, a currency that is undervalued in my opinion received the proper attention it deserves in the last handful of days. The question becomes,  "Are there people who are willing to short it?" As I said, I feel it was undervalued and it still is. Just be aware some people might decide to take profit, but if your willing to wait it out there is nothing wrong with a buy, in this situation. Analysis: Buy

XRP - There is a lot going on in the world of XRP with all the trouble with the SEC, which I am sure most people are aware of. Is the price at the bottom? Maybe and maybe not. We just do not know what will happen. I tend to separate the problems with Ripple the company and XRP itself. Maybe it will never become the bridge for cross border payments that Ripple sought out to become. That being said, it is still lightning fast and I think XRP will be around for a very long time and does have real-world application capabilities. Nobody is going to wait up to an hour to buy a sandwich with Bitcoin. I see this as a strong buy. Yes, it might go lower, but if it doesn't you might miss your chance of buying at bottomish price. Analysis: Strong Buy

Litecoin - Litecoin is another currency that I see as undervalued. I am not as bullish about Litecoin as I am Etherium, but I see potential growth. Long term I could easily see LTC making it to the $3,000 mark, but I do not have a magic ball as to when that will happen. Analysis: Buy and Hold

Polkadot - DOT has seen a healthy upward trend with a 47% gain in the last 7 days. It seems to be following trends of other healthy cryptocurrencies. Because of its massive gain, there could be a selloff in the making for the short term, but from what I am seeing it looks like a winner without any apparent currency manipulation as of recently. Analysis: Hold/Soft Buy

Bitcoin Cash - More secure than Bitcoin and has the same amount of coins as Bitcoin. BCH is severely undervalued as a currency. In 2018, it had a high of just over $3000. If you bought it a month ago, you are probably a happy camper. I place a strong buy rating on this currency even at its current price of around $400. There is no reason that it could not go as high as Bitcoin. The question is, "Will the institutions recognize this value as well?" If they do end up seeing the value for what it is, the sky is the limit. Analysis: Strong Buy

Cardano - ADA has a strong cult following. With developing technologies that seem like it takes forever to roll out, the question remains if it will live up to its hype. It has had moderate gains as of recently and it remains unapparent if the price increases will stick or, "Will it just slump down again?" The price point is low enough for somebody who wants to take a chance. Coinbase listing rumors seem to be responsible partially for the recent spike. In my opinion, and I could be wrong, but I am not putting my eggs in this basket at this time. Analysis: Undetermined 

Chainlink - LINK saw modest gains in the last 7 days and then a moderate sell-off recently. The graph picture is not as healthy as I would like to see. Others might see things differently, but for now, I am not buying. Analysis: Not buying/Not Selling

 Stellar - Similar to XRP, XLM has fewer coins than XRP available. At a minimum for XLM, it can be easily determined that the price is undervalued even with its recent gains. My recommendation is solely based on how I perceive its value. Analysis: Strong Buy

Monero - Monero has hit some hard times with the announcement that it will be unlisted by at least one exchange (Bittrex) for being a privacy coin along with others. It also received some good news, when White House announced they were dropping Bitcoin for XMR. The good news did not seem to be enough as the XMR price has dropped steadily. This could be a buying opportunity, but I say so with caution. Analysis: Soft Buy

Crypto

Just a few other coins I am not crazy about (for various reasons - Pump and Dumps and other issues):

Tron - TRX,

EOS - EOS,

Bitcoin Silver - BSV,

NEM - XEM,

TEZOS - XTZ,

Vechain - VET,

Neo- NEO, 

IOTA - MIOTA 

I cannot for obvious reasons do an analysis on each and every coin, but here are a few that are worth mentioning (Healthy charts): 

Coins to watch or look into:

Uniswap - UNI, 

Synthetix - SNX,

Maker - MKR, 

Elrond, EGLD, 

Loopring - LRC, 

Energy Web Token - EWT, 

Pax Gold - PAXG, 

LTO networks - LTO, 

Asta -ASTA

 

 

 

 

 

 

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Edwin TechKnow
Edwin TechKnow

I am a developer of web-related technologies and author.


Edwin TechKnow
Edwin TechKnow

Let's talk about cryptocurrency! With that being said, I am not a financial advisor, and all of my posts are solely my own opinions. Before investing, you should do thorough research and not take my word for it.

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