The cryptocurrency markets are eagerly demonstrating how truly volatile they are. However, their volatility provides unique opportunities to find undervalued coins with major events in the next two weeks. The 5 Altcoins To Beat BTC Returns this Week are SNOV, ZER, MTH, ETH & MTL.
Altcoins to Focus On This Week: SNOV, ZER, ETH, MTH, and MTL
This week’s altcoins worth shifting immediate focus to all have very exciting upcoming events. The market correction the last week allows for these coins to be attained at a huge discount from their all-time highs. This week’s coins requiring immediate attention include SNOV (Snovio), ZER (Zerocoin), ETH (Ethereum), MTH (Monetha), and MTL (Metal).
These five cryptocurrencies have major announcements, events, presentations, and platform updates prior to the conclusion of March. Events of this magnitude provide a catalyst to boost the price of the underlying cryptocurrency in the immediate short term.
Between the five highlighted cryptocurrencies, technical analysis points to the highest short-term returns coming from ZER (Zerocoin has the smallest market cap and largest percentage decrease since January) or SNOV (releasing their marketplace prior to the end of the month).
Utility increases the value of the underlying crypto with the top gainers from the past month all having dramatically increased their utility (LTC, DGB and BCPT). Many of the cryptocurrencies on this week’s list intend to dramatically increase their utility which should result in an immediate increase of the crypto’s value.
Current Market Sentiment
The market the past week has opened up many buying opportunities in the crypto space, especially for altcoins. The last ten days have been filled with multiple FUD events that continue to pressure crypto markets downward. These events have dramatically impacted the price of altcoins this week (some more than others):
- Regulatory Actions (SEC and U.K.)
- Gox Bitcoin Dump
- Alphabet (Google) Banning All Crypto Related Ads
- Scam ICO – Giza
These four events shifted the market cap of the entire crypto market from $470 billion March 5, 2018, to $330 billion Friday, March 16. However, a decrease of over 30% in total market cap provides for some true bargain altcoins.
Snovio – SNOV (Marketplace Launch)
SNOV is a smaller market cap cryptocurrency that specializes in decentralized lead generation. The platform rewards contributors in tradable SNOV tokens. However, this platform and concept are strictly hypothetical. Until the SNOV marketplace is released within the next two weeks.
SNOV has promised to have their marketplace launched by March 31, 2018 (or earlier). Currently, the SNOV token has no utility excepts its ability to be traded. In under two weeks, the SNOV token will greatly increase its utility once the marketplace is launched.
Tokens are useless without an actual utility. With a coin price of $.03 and a market cap of $13 million, it is likely SNOV sees exponential gains when they release their marketplace and establish utility for their token within two weeks. The goal is not to purchase SNOV the day before marketplace release, but with enough time to enjoy the price increase leading up to it.
Zerocoin – ZER (New Exchange Listing and Wallet)
ZER is the smallest market cap crypto on this list and truly has the highest likelihood of an exponential climb in the coming weeks. They are valued at $0.93 per coin with a market cap of $2.5 million. January 9, 2018, saw ZER surpass the $12 per coin mark. That means while BTC and most coins have corrected 40-70%, ZER has fallen over 93% since its all-time high.
Currently, ZER is only listed on one exchange and its catalysts for a major increase in value are their upcoming announcements of a major exchange listing and a new wallet.
ZER has promised to have their mobile wallet released and a large exchange announcing the listing of their crypto by March 31. ZER’s utility is about to increase significantly. The addition of a wallet while boosting volume and publicity with the announcement of a new exchange will greatly increase ZER’s short-term value. The ZER team and concept are both impressive and revolutionary. This week should provide a huge boost to ZER’s value with a wallet about to be released and a major exchange listing announced.
Ethereum – ETH (SEC News)
The SEC’s reiterated news was horrible for ETH wasn’t it? It depends who you ask. The general public and overall market sentiment will be screaming, “the SEC news was horrible for ETH.”
This is not necessarily true. It was horrible for the short-term price evaluation of ETH causing it to tumble even more than BTC during the prior two-week period. However, more regulations in the crypto space are not bad for Ethereum in the long-run.
If ETH continued to release ICOs that turned out to be scam or fraud related they very quickly would lose their reputation of being one of the most reputable in the business. The SEC getting involved may diminish their business in the immediate short-term but should allow for many more, legally started, ICOs in the near future.
ETH is currently valued at $611 with a market cap of over $60 billion. March 4, 2018, ETH was trading at $865 and since the ‘negative’ SEC news has fallen more than 25%. Normally market cap coins of this magnitude do not make the “altcoin” list.
However, with ETH having overreacted to the most recent SEC news they are likely to experience a significant boost in value in the short-term. ETH is one of the few cryptocurrencies with teams and the financial backing to attend any conference they chose.
This week was no different as the co-founder of ETH, Joseph Lubin, presented as a Keynote speaker for the South by South West (SXSW) conference in Austin, TX. Clearly, blockchain technology is here to stay and cryptocurrencies that overreact to current events are prime opportunities for above-average returns in the short-term.
Monetha – MTH (First Product Milestone)
MTH falls into the category of adding utility to their token in the next two-week period. MTH is fairly clear that the date of their first product will actually be March 31, 2018. Many of the other cryptos on this list state “March 31 or earlier” MTH is specifically for the 31st. Timing is everything in crypto as it is essential to have purchased prior to the date of the important announcement. In this case, their first product milestone on March 31, 2018.
MTH is valued at $0.10 per coin with a market cap of $22 million. Adding the slightest bit of utility will dramatically increase both of these numbers. January 12, 2018, MTH was trading at $0.59 more than 500% higher than where it is priced today. The largest milestone in MTH’s development is occurring in two weeks yet the price is 80% lower than where it was in January.
Look for MTH to rapidly appreciate leading up to their product milestone March 31, 2018.
Metal- MTL (MetalPay and CEO’s Presentation)
MTL is about to release MetalPay. Without MetalPay currently, MTL has no utility. Their token can be traded on exchanges but besides that cannot be used for anything.
When MetalPay is implemented the utility of the MTL token increases along with the underlying value of MTL. The concept behind MTL is incredible. Most crypto currencies transactions speed are ‘slow’ compared to MTL with all having fees above MTL’s. This is because MTL plans to pay the user to send crypto. Yes, they actually intend to reward users up to 5% for each purchase they make using MTL, with no transaction fees.
MTL is turning the crypto world on its head by inversing the current fee structure. Instead of there being exorbinant fees to transfer crypto, now merchants and individuals using MTL will actually receive a multiple percentage dividend each time funds are sent or received. Their CEO Marshall Hayner is one of the top figures in the crypto space and will continue to push MTL towards a successful launch of MetalPay.
MTL was trading over $10 in January and is currently $3.67 per coin with a market cap of $81 million. Following the successful release of MetalPay their January highs should be quickly approached as MTL will revolutionize the fee structure of sending crypto.
Conclusion – Utility Increases Value
The number one factor that determines a cryptocurrency’s value is the underlying utility. ETH was able to buck the trend of collapsing crypto markets through most of January. This was because ETH was still regularly sought after for use in ICOs, Ethereum Dapps, etc.
ETH remained valuable due to ETH’s utility. Each of the coins listed have important reasons their utility dramatically increases in the following two weeks. As the dates of their utility increase approach, the value of the corresponding currency should similarly increase. Altcoins can expect a dramatic increase in value following the successful launch of a platform, announcement of an exchange, or any other major update increasing a coin’s utility.
The next few weeks have major events planned for: ETH (Ethereum), SNOV (Snovio), ZER (Zerocoin), MTH (Monetha), and MTL (Metal). The recent market correction has allowed their prices to be extremely desirable leading up to their major events.
To read the King’s prior articles, to find out which ICOs he currently recommends, or to get in contact directly with the King, you can on Twitter (@JbtheCryptoKing) or Reddit (ICO updates and Daily Reports).
What are your thoughts on these altcoins? Will you be buying or selling? Let us know below!
Images courtesy of Shutterstock, Monetha
The post 5 Altcoins Likely to Outperform Bitcoin for the Week of March 17, 2018 appeared first on Bitcoinist.com.
Written by JakeTheCryptoKing @ http://bitcoinist.com/5-altcoins-outperform-bitcoin-march-17/ March 18, 2018 JakeTheCryptoKing