It’s that time again where we’re looking at what’s happening in crypto and world news and trying to determine which altcoins to buy, sell and HODL in the coming weeks.
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The short-term sentiment in the cryptocurrency industry is bullish at the moment. With several geopolitical events like President Donald Trump’s impeachment, Phase I of the U.S. – China agreement, and BREXIT happening in the near future, generally we see cryptocurrency investments rise as investors lose confidence in fiat currencies and stock investments.
Price fundamentals keep getting stronger, however, with a lag. The trend has always reversed when it’s least expected to. This is not just the end of the year, but the end of the decade. Most experts are uncertain about the price of the cryptocurrency. Retail and institutional investors have both acknowledged the importance of cryptocurrencies in 2019. Centralized banks have started the process of developing their own cryptocurrencies and the industry is now more mature than ever before.
It is a common notion that prices of altcoins are influenced by Bitcoin prices, however this has been rapidly changing and in the past few months. Altcoins like Ripple and Ethereum have been independent of Bitcoin. However, when the prices start dropping, a sell off gets triggered across all markets. It is difficult to predict if prices will continue to decline. As an altcoin advocate, let’s discuss some of the top altcoins to buy, sell, and HODL.
Altcoins to Buy
- MATIC Network – MATIC Network is currently trading at $0.0156 and the coin has dropped 16.49% in the past 24 hours. The current market cap is $39 million. MATIC has geared up plans to launch a counter stake in two successive stages and release it gradually along with a staking competition starting 2020. The altcoin will offer an interest rate of over 30% on the staking partnership. It is in the buy zone and target is $0.017.
- TomoChain – Tomochain is currently trading at $0.549, and the coin has dropped 7.63% in the past 24 hours. It is the best time to buy the dips, as Tomochain rebounds up to 20% in less than 48 hours, once the trend reverses. This coin has a market capitalization of $36 million and 2020. Tomochain aims to be a public EVM-compatible blockchain and its low transaction fee and fast confirmation time and this ensures a strong start in 2020. The selling target is $1 and above.
Altcoins to Sell
- Tron – Tron is in the sell zone and it is time to book over 8% profits. The cryptocurrency is trading at $0.01519. Tron’s partnerships and launch of new projects ensures that the price of the cryptocurrency goes up by 3 to 7% every three months. Tron’s RoI is 640.54%. Justin Sun as a promoter has pushed enough partnerships to make it a project that ranks in the top ten most times.
- Komodo – Komodo’s sell zone starts at $0.5 and the cryptocurrency is currently trading at $0.571. The cryptocurrency ranks in the top 100 and it has a market capitalization of $67 million. Komodo focuses on providing business-friendly blockchain solutions that are secure, scalable, interoperable, and adaptable. Komodo’s RoI is 393.69% as of press time.
Altcoins to HODL
- Bitcoin – Despite a plummeting price, Bitcoin is holding well. Massive sell-off hasn’t been triggered yet. The cryptocurrencie’s market dominance is at 68.9%. There are several bullish predictions for Bitcoin by Tim Draper and John McAfee. The BTC/USD pair is currently stuck between $7,580 and $6,500. This shows that buying is going on, on all levels. Once the cryptocurrency breaks the resistance at $7,800, Bitcoin bulls will possibly take over from there. Above this level the next resistance is at $9,000 and in case of a price drop, the cryptocurrency may hit lower than $6,500. Currently, at $7,580, HODLing with a target of $8,500 is the best strategy.
- Neo – Neo makes it to the top 20 cryptocurrencies for the past couple of years. NEO suffered a decline, a month back and the cryptocurrency is ready for bouncing back. It is currently trading at $8.99. The coin has gained over 4%. HODL NEO with the selling target of $10 to $12. If sell off begins, the bears may drag the price below $7. There is, however, strong support at $8. If the price plummets below $7, it may hit the next support at $5. Based on the candlestick chart, the cryptocurrency is expected to rally to the next moving average at $9.
Disclaimer
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