What Alts are you trading and which ones do you see as
worth a punt <$0.30
potential for 5 x >$2
solid choice 2-3 x >$10
I got out of my XRP position in tact and looking to split my investment across a few alts + have a bit to day trade to increase bank roll.
Appreciate your thoughts.
I'm heavy into DeFi coins mate, and expanding every week.
I get the feeling they're going to go gangbuster throughout this year, and so far that have done well but nothing nuclear for the most part.
AAVE, 1INCH and SNX get me more excited than the rest, and as well as those I'm pretty heavily into CRV and UNI.
CRV was a mistake that I had to DCA for months but now am profitable with - and it's one DeFi coin that has not pumped as hard as others (mainly because it's tokenomics have been non-optimal with the oversupply of tokens), but now there's been heavy accumulation of it for the last for months and I think it's going to go hard.
1INCH has the potential to go ultra-nulcear in 2021 I think. Also the benefit of DeFi token over others is that as well as just investing in them and earning from speculation, every single one of these are being yield farmed as well - so there's additional weekly income coming in from liquidity providing + the profit from speculation.
Whether price goes up or down I earn yield, but I think they'll be a strong sector this year too. This can also be done with ETH or WBTC though as well, so if you wanted to invest heavily into those two for reliability, you can still yield farm on them too.
Good work getting out XRP - what was the exact date you did so? Any XRP you held on 12th December earns you 1:1 of their Spark token when it's released in a few months. Obviously with the court case, Spark will be massively downsold at this point, but if they beat the case then Spark will also go gangbuster and it's free.
There was a snapshot done on 12th, as long as you had the XRP then you'll get 1:1 Spark.
My two cents.
(if you want a fairly quick way to find good investment options..
1. Get tradingview if you don't already use it
2. Get the indicator "Accumulation/Distribution"
3. Set it for daily or weekly
4. Get a list of cryptocurrencies from CMC
5. Scan through them and look for ones that have a strong upward divergence (ie. the crypto's price has been flat or going down, but the accumulation indicator is going up).
Here's an example of the exact opposite of what you want:
Price going up, accumulation is going down (ie. there are way more people dumping TRX than buying it, but the price is going up - shows that it's not a strong investment. (yellow one)
Other indicators come into play as well - you can also see on RSI (purple) and ADP (blue) that it's overbought (at the top for both of those), and you can also see on RSI (purple) that it also has a decreasing RSI while price is increasing.
The yellow and purple indicators both show downwards divergences (price going up over time but both indicators going down over time) - I think that TRX would be a good option for shorting normally, but if BTC takes off it'll keep dragging it up. If BTC remains stagnant, TRX will probably suffer worse than most cryptos.
It's easy to hire a VA and get them to do this for you as well - they can scan through all alts and do this quick check (as well as others) and then give you a spreadsheet each week with all altcoins ranked by a set of metrics. This is one of the best ways to find good investments - another one is looking for golden crosses with MA and MACD simultaneously.