We talked to the experts about which altcoins should buy right now.
Victor Argon, an analyst at EXANTE:
August proved difficult for the stock market — and especially for altcoins. Since the beginning of month market capitalization decreased from 276 to 247 billion dollars (11%), and the main decline occurred in altcoins. While the exchange rate of bitcoin (EXANTE: Bitcoin) decreased by 5%, the air has lost 21%. The total capitalization of altcoins are also decreased by 21%. The index of dominance of BTC has increased to 69% and returned to values March 2017, preceding the famous rally altcoins.
The current market failure of altcoins is not a reason to forget about them. In a situation of high uncertainty, investors should pay attention to two types of coins:
1. Coins with high trading volumes
Regardless of the courses are assets, which for some reason has managed to gain popularity. Their prospects are highly appreciated by investors, and therefore they will not go away overnight and will be considered as an alternative to bitcoin.
Among all the altcoins, the highest trading volumes today are:
It should be noted that ether, which is a short lost on the background of statements Vitalik Buterin about reaching the limits of scalability. Despite this price drawdown, globally the position of the developers talks about their honesty and willingness to fight for the preservation of the status of the main competitor of bitcoin. No doubt, developers will actively resolve technical difficulties, and now the team ether has such powerful allies like Microsoft.
2. Anonymous coins
Another big trend on the stock market is an anonymous coin. After unsuccessful attempts in Libra, many investors became more pessimistic look at the relationship of the stock market and the state. Bitcoin and most other cryptocurrencies are not strictly anonymous: all transactions between wallets is in the public domain, though without instructions of names of users. But there is on the market and such coins, transactions which are really private.
Best known today three anonymous coins:
The function of privacy was added to another relatively popular coin: Decred.
Why altcoins remain attractive
Today altcoins are a separate asset class with high growth potential. Here are a few arguments in favor of the fact that they should invest despite the downturn:
- Diversification. Altcoins have different market niches, and their blockchains different perspectives. Perhaps one of the coins will become an asset that does not fall in a moment of crisis or rise in one day on 1000%.
- Entry point. On the market there are no convincing arguments speaking in favor of long-term collapse of the altcoins, so the current time can be a particularly good entry point.
- The launch of the platform Bakkt. Although “institutionally” through Bakkt intend to buy bitcoin, its rise will surely lead to overall growth of the market. In the long term Bakkt futures can reduce the volatility of BTC and altcoins to be the main asset for traders to earn on exchange fluctuations.
Vladimir Shutemov, co-founder CoinFly, an expert in the field of high technologies:
Cryptocurrency burst into the tops quite unexpectedly. By may MATIC has increased 10 times since the beginning of the year. The creators of the currency have been able to attract a highly reputable partners such as Coinbase Ventures and Binance.
MATIC is already integrated into cryptologist: the network has made a significant contribution to the Ethereum ecosystem, and the creators of the currency declared the support of other blockchains in the future. MATIC key features — high scalability, leading to lower fees and increase the speed of payments, and large capacity.
As for the course MATIC, since Pampa in mid-may, he strongly did not fall. But soon the currency will update mainnet. So if you have not paid attention to MATIC, I recommend to do it.
After halving in early August, there was a surge of trading volume in litecoin, which has meant a pump currency. In the end, litecoin (LTC/USD) broke above $100. Since then, of course, declined slightly, but analysts believe that it is temporary. The future of litecoin at the moment is not serious.
A couple of weeks ago Binance added litecoin to the list of assets to margin trading. Do not cease to follow closely the litecoin: recently the developers announced the upcoming release of Litecoin Core 0.18.1.
Recent large-scale “dust attack” in the future may affect the safety of the currency, but the example of bitcoin Wallet and Samourai have shown that this can be fought effectively.
And, of course, still feels good ether (ETH/USD). The retail market is preparing for another hard forks Istanbul: its first phase will be launched in the network, is expected in October. It needs to expand the possibilities of interaction of the ether with zcash for and additionally to protect the network against attacks of re-playability. The second stage of hard forks expect in 2020, and would include such major EIP, as, for example, a new algorithm ProgPoW. Don’t forget to upgrade, not to stay in the old Ethereum.
Like litecoin, the ether was just a couple of weeks ago added to the assets of margin trading on Binance. And Nick Patel, a well-known captainvalor and the acclaimed author of “Manual for althin trader”, conducted a survey among 5.5 thousand people in the Twitter to find out whether they believe that the air will again overcome the mark of $1000. 54% of respondents believe.
In General, despite the recent statement Buterin about the problems with the scalability of Ethereum, I’m sure in the cloudless future of the currency — at least in the near future.
Oleg Chebotarev, journalist, captainvalor:
The summer was pretty quiet on the whole cryptocurrency market. Bitcoin fluctuates around the $10,000, sometimes growing up, but always returning to the usual price level.
If during last year’s fall altcoins clearly followed the basic coin market as the cars behind the locomotive, but now everything points to the fact that the power of bitcoin is not enough to pull the entire market.
However, ironically, it is now a time when you need to look at Aldona and buy them. We see that bitcoin has made almost a threefold increase since the beginning of the year, and the main market yet did not follow him, but be sure to catch up when the time comes.
So traditionally I can advise to buy ether (ETH/USD). This is one of the most advanced cryptocurrency on the market, with a well-developing infrastructure and a great future, and now is the time to invest.
Not to mention the DCT from DECENT — I add to your portfolio this coin for more than a year and, in principle, very pleased. The company is developing very successfully, has a clear development plan and at least its own developed infrastructure than ETH, is designed to operate third-party applications. The coin is trading very low and this is a good chance to buy!
Ripple (XRP/USD) continues to enjoy great popularity among investors statistics on purchases of the coin breaks all records. This is not surprising, because we are witnessing the creation of a new Bank instrument for international payments, which develops with virtually no difficulties and it has huge potential. To complement its portfolio of coins, Ripple is a good investment move.
Alexander kuptsikevich, an analyst at FxPro:
Now the market altcoins has become synonymous with depression and frustration. Total base of about 2500 CoinMarketCap cryptocurrency. However, existential questions is even to the top ten, not to mention the rest. Market participants are still proponents of the theory of the game against the market. Now common this approach is that the best time to buy asset — this is the time when everyone had lost hope.
However, if things were that way, then no projects would not be closed and not bankrupt. At the moment you can take a chance by investing in one of those coins around which have any kind of background. Then it makes sense to divide them into niches for which there is unmet demand bitcoin: it is, for example, a platform for other projects (Ethereum, EOS), anonymity (Monero, zcash for or Dash), or focus on the traditional monetary sector (XRP).
It is likely that other altcoins have a new “unicorn” — maybe of interest to many Protocol Mimblewimble — however, it is difficult with confidence to call the remaining after the “great fall altcoins”. It is likely that they can disappear or lose value, even top coins.
Valery Sviridenko, technical Director of aggregator cryptocurrency Paykassa.pro:
Binance Research recently published a study which gently buried Ethereum Vitalik Buterin. The main claims were to the low scalability of the blockchain, the high Commission and large number of “useless tokens”. All this makes the air unfit for use. Therefore, the platform will continue to lose position in the field tokenization.
Also Binance Research several times in the report pay attention that all these problems aren’t in their blockchain Binance Chain: and the throughput is higher and compatibility is better. And even though it’s in the first place and a shot at a competitor, but sensible grain in this study is. In principle, these problems are recognized and Creator of Ethereum, Vitalik Buterin.
Based on this research, I would recommend in the near future to invest in Ethereum closest rivals, namely:
- Binance Coin (part of a larger cryptoprocta have already migrated to the platform Binance)
- EOS (EOS/USD)
- NEO (NEO/USD)
However, to dismiss the ether (ETH/USD) I would not hurry. Ethereum Foundation gave out grants for $ 2.5 million for the development of Ethereum 2.0. And just before the end they intend to distribute the development platform about 30 million So the air can still be reborn. However, this will happen, of course, not in September. But short-term growth further distribution of grants is quite likely.
Arseniy Immortal, analyst platform CryptoEYE from Zichain:
The last few months have been extremely challenging period for the market of altcoins is their dynamics were disappointing against the background of rapid rally of bitcoin, which allowed the latter to increase its market share to 70%.
In this regard, the segment of the altcoins currently relatively undervalued and may present an attractive buying opportunity. We traditionally suggest practicing a portfolio approach to investing in digital assets. Instead of chasing separate stories, you should create a portfolio, which will include cryptocurrency of the top 20.
We should not forget about the key feature of cryptocurrencies — namely, a high degree of correlation of the assets with each other. In other words, any portfolio that includes a large number of cryptocurrencies should be considered diversified. In market analysis we propose to divide it into several separate sectors: payment systems, infrastructure projects and services. In accordance with these principles of functioning of the system of indexes Zichain. At portfolio we encourage our customers to evenly distribute investments among assets that are included in various indexes.
Subscribe to our channel at Yandex.Zen. Lots of exclusive stories, useful information and beautiful photos.