Trading Focus Is Back
It has been a while since we updated our trading focus, and we decided now was a great time to pick it back up. After what can be described as an extremely volatile month for cryptocurrencies it has been a good point to observe the price ranges. Particular focus for us has been around NEO, OmiseGo, Monacoin and Ethereum. By particular focus, we mean we have been monitoring prices of these four coins and our next purchases will potentially be some or all of these coins.
Rather than go into huge detail around each of the currencies, we are just going to summarise our reasons behind investing in these currencies. However, we will be adding individual updates over the next few days around these coins in case you are interested in learning more.
It’s is important to bear in mind that our number one investment strategy on our trading focus page is to follow the price ranges, make a note of the highs and lows before trying to buy at the lowest possible price. This seems like an obvious statement but it requires patience and it is important to not panic buy or panic sell.
• NEO has been by far the most volatile of the coins listed above over the last 30 fluctuating from lows of $14.60 (£11), up to highs of $36.41 (£27.40) According to Coinmarketcap. NEO experienced a huge increase of around 800-900% increase in a very short space around 3 months ago shorty after changing it’s name form Antshares to NEO.
• In the last 3 months NEO has reached a highest point of $52.63 (£39.62), with the more popular cryptocurrencies they generally always reach their highest point again and in some cases can reach new highs.
• NEO is arguably Ethereum’s biggest competitor and only less than a week ago the first ICO on the NEO blockchain concluded after reaching its’ market cap. If more ICO’s begin to launch on the NEO blockchain this can only cause the price of NEO to head in one direction
For these reasons NEO is definitely top of our trading focus list, we will be hoping for the price to fall somewhere between $15-$20 (£11-£16) but will more than likely start buying on the next down trend.
• After gaining a lot of Media attention a couple of months back OmiseGo saw quite a substantial increase in price in a relatively short space of time. This may be to do with its symbol (OMG), it may be the fact that Omise are already a well established organisation with a clear vision for their blockchain project, or it could be that they have potential agreements in place with some pretty big companies. It is however, likely to be a combination of these factors.
• OmiseGo has remained fairly stagnant in what has been an incredibly volatile month for most cryptocurrencies, this in our opinion shows there is strong support for OmiseGo and not too many people want to sell their tokens.
• OMG is quite an attractive price to start buying, in the last 30 days its’ highest price according to Coinmarketcap has been $11.70 with its lowest price being $8.13. At the time of writing this the price sits at $8.21. If you were to buy now and the price did drop again, then you could simply buy more and bring your average purchase price down.
• Although this was not in the last 30 days, OmiseGo have partnered with McDonalds Thai. This did initially cause a surge in the price but more importantly outlined the clear intentions OmiseGo have of becoming a recognised global brand and the price is very low if, like us, you believe in this project long term.
OmiseGo is one of our favoured projects and will more than likely be a continued feature on our trading focus page, we will always look to buy at a good price and fortunately our last purchase was a while back at around $4.
• Ethereum is quite an obvious choice for us, if cryptocurrency succeeds (which we would not run the website if we did not wholeheartedly believe this) then Ethereum will succeed. Ethereum is so widely used and ingrained into the crypto industry that it just seems that the price can only ever increase long term
• With the Byzantium upgrade on the horizon there seems to be a lot of support for project and the price has been steadily climbing. We can only see this increasing more over the next few weeks.
• As well as the Byzantium upgrade, there is other upgrades which have been announced although do not have specific dates at the moment. The Byzantium upgrade is part of the Metropolis upgrade, in which there is a number of different upgrades looking to vastly improve the whole network. This shows the commitment Vitalik and the rest of the Ethereum team have towards pushing Ethereum forward and maintaining their status as one of the top cryptocurrencies.
• Unfortunately at current prices Ethereum seems quite expensive, however is it guess work on how the Byzantium upgrade is going to affect the overall price and therefore we could be looking at a really good price right now.
• We have decided to add Monacoin to our trading focus as this is a coin we will be doing more research on. It has been around since 2013 and is “the first Japanese cryptocurrency” This can be a huge selling point for users as they can feel like part of the blockchain revolution in that specific region or country
• All we know at the moment is that it has a large following and another website which it is used on called monappy.jp, there is number of things to do on monappy, including; sharing images, sharing videos, buying and selling goods and much more. All of which you can earn Monacoin.
• The price has increased almost 100% on the day of writing this and it seems that it is growing in popularity.
Unfortunately we cannot provide much more on this and we are not saying that we will be investing, rather we will be posting an article in the next 48 hours explaining in more detail about this coin, so keep an eye out for this.