Enter 2018: the entire cryptocurrency market cap is now $180 billion short of hitting a total valuation of a TRILLION US Dollars. Such valuation would make you believe we’re about to hit the top of the “bubble” if not already in it.
But I disgres. We are about to look into the altcoins that still have plenty of upside (not to mention the fact that Bitcoin is still undervalued). First, let’s analyze what could be the upcoming catalysts which can move Bitcoin and all the more attractive (and serious) altcoins with it.
Institutions have not tapped into the cryptocurrency markets for simple reasons, for one the entire market is seriously unregulated, and professional or smart money is not traded in markets where manipulation (FUD, FOMO, pump and dumps, etc.) are a commonality. Expect regulation to allow this money to pour into the market, and believe me this is a lot of money.
Hard Fork or Lightning Network (or both)
A future hard fork in Bitcoin will likely increase its market cap 10 to 30% which will in turn attract more investors into altcoins. LN or Lightning Network is poised to dramatically drop transaction times in Bitcoin, which will bring most if not all of the folks who are already out of Bitcoin and maybe sitting in US cash, back into it. Most altcoins react to the price movement in Bitcoin, so this in turn works as a catalyst for price movement in the alternative cryptos.
Altcoins to Follow
The following list represents my views on which altcoins are poised for a healthy move up in 2018. As always, do not take any of the following words as investment advice (but HOLD!).
Note 1: all prices below are as of this writing.
EOS – $12.43
DApps. The future of applications, Decentralized Applications can live anywhere on the net without relying on a single point of failure. EOS.IO promises to be the most powerful infrastructure for Decentralized Applications.
Ripple (XRP) – $3.37
A favorite of yours truly. Ripple is poised to work with banks of all sizes to deliver ultra-fast and ultra-cheap transfers between organizations worldwide. According to management, they are already onboard with AMEX, Banco Santander, and a few others. About 100 banks in Japan are currently testing the XRP platform and if, wait no, when they begin mass adoption, expect Ripple to trade around $10 if not higher.
Ripple’s XRP Overview: https://ripple.com/xrp/
SALT – $12.91
Cryptocurrency Loans, wait what? Yes, you heard right. SALT is working to become the Blockchain-based Loans firm of choice. SALT promises to use one’s asset in cryptocurrencies as collateral for cash loans. This sounds crazy but if it works they way they say, SALT should be worth anywhere between $100-$300 bucks and who knows if more.
What’s the number one issue I see with SALT? That your crypto asset can lose value which then means once you pay back the loan you are left with a loss, not including the APR, whichever it may be at the time. What do I like? The supply is only 120 million!
SALT Website: https://www.saltlending.com/
Note 2: I’ll be updating this post as I finish researching other altcoins (KIN, CVC, XML coming up next).