At the moment, cryptocurrencies are still under pressure.
But with any great investment, patience is necessary. We still strongly believe that all of the coins on market — most of which have fallen in recent months — will come back stronger than ever.
Despite all of the pressure in cryptos lately, we have to consider that many people are functionally using it.
“If you want to own the asset that you can actually use today and that people are functionally using, it’s bitcoin,” analysts at Susquehanna International Group said, as quoted by CNBC. “The use case for bitcoin is valid today, which is the currency of the Internet.”
Love it or hate it at this point, cryptos have gotten very popular.
If it weren’t, the CBOE and the CME wouldn’t have launched their own crypto exchanges. In other words, crypto is here to stay, especially after surviving major exchange hacks, SEC involvement, crypto ad bans by Google and Facebook.
We also have to consider that crypto will become much more mainstream along the way, too.
Goldman Sachs for instance has plans to start its own Bitcoin futures trading desk.
So while we’re seeing some hiccups along the way, our end result is still a significant one.
We’re recommending that you continue to hold all of the coins we’ve recommended since April 2018:
Bitcoin (BTC) was recommended initially at $8,232. After running to $9,900 following that recommendation, it has slipped to $6,386.
We still strongly believe BTC could rally back to $7,500, near-term. We reiterated our buy on BTC about two weeks ago at a lower price.
Ethereum Classic (ETC) at $17.93. After running to $25.27, it has pulled back to $16.53.
ETC is rebounding very well. In fact, it was back above $18 the other day on news that it would be available on Coinbase.com. According to Crypto Briefing, “The Coinbase listing has been a game-changer for the Ethereum Classic community. According to the exchange’s new asset policy, applicant-coins need to meet certain criteria to be considered for listing. This includes concerns over a coin’s legality as well as long-term viability and prospect for an expanding user base.”
Litecoin (LTC) AT $149.50. After running to $176, it has pulled back to $79.25.
Even LTC is still over-extended and insanely oversold here.
With LTC, we had also reiterated a buy at a lower price, and believe it could rally to $200 shortly. Hold.
Interesting to note, even Amazon.com may be interested in LTC. According to Global Coin Report, “One of the reasons why Amazon might choose LTC is that Litecoin’s most important features are exactly what Amazon is looking for. Amazon deals with millions of customers, and it needs its payments to be fast, cheap, and as secure as possible. These are the exact aspects that LTC is best known for. Not only that, but it is actually far more advanced than the payment system that Amazon is currently using. When it comes to speed, Litecoin is one of the fastest cryptos around. Apart from that, it allows payments via any currency, since they can all be converted to LTC coins. This makes it extremely practical, and perfect for Amazon and its customers.”
Ripple (XRP) at $0.81. After running slightly higher, it now trades at $0.45.
XRP is also oversold reads on MACD, RSI and Fast Stochastic. We’d like to see it move back to 70 cents, near-term. We reiterated a buy on XRP just last week at 50 cents.
Stellar (XLM) at $0.437. After running slightly higher, it now trades at $0.191.
We reiterated a buy on XPR just last week. Analysts believe the coin could run higher by at least 300%, near-term. After catching double bottom support dating back to April 2018, we believe XLM could set up for a potential run to 50 cents shortly.
TROX (TRX) at $0.09. It now trades at $0.0338.
We reiterated our buy at $0.04 last week. The coin just caught support dating back to April 2018 before it popped to ten cents. Our long-term price target for TRX is 30 cents at this time.
IOTA (MIOTA) at $2.34. It now trades at $0.9916.
We reiterated our buy on MIOTA last week, as well. The coin is recovering very nicely after catching support dating back to April 2018 prior to its run from $1 to $2.60.
Dash (DASH) at $317.64. After running to $319.55, it pulled back to $221.65.
DASH is also showing strong signs of recovery at current prices. We’re waiting for confirmation of trend change before reiterating our buy on the coin. Stay tuned.
NEO (NEO) was recommended at $54.32. It now trades at $33.93.
NEO is finally staging quite a recovery, too. The last time it was this low in price was December 2017 before it exploded from $39 to $180. We believe that could happen again. Let’s wait for confirmation of trend change before buying more NEO.
While most of the coins did very well for us starting out, they’ve pulled back with chaos in the market. But don’t let recent moves lower chase you away from a lucrative market opportunity. We still see significant growth ahead for all of these major crypto coins, as do the billionaires and analysts.