July trading speculation
In my last article, I introduced the idea that currencies offering a viable product would start attracting the attention of the market, while coins with little or no development could see a decrease in volume. I anticipate some profitable trading swings as the “dead coins” go on a long-term downward trend, but one could easily end up with a bag of worthless coins if not trading conservatively. When selling these cryptos and aiming for profit goals, setting orders below your target can offer a greater chance of consistent profit.
LBRY Credits have been actively traded on both Poloniex and Bittrex with fairly large volume over the past months. One of the hidden gems of alt-coins, LBC is part of the content revolution beginning to surface in cryptocurrency. With the blockchain being a distributed web in nature, content can be shared without a central authority. LBC offers an interface for artists and uploaders to share content and to get paid for distributing it throughout the network. More information can be found about LBRY on their webpage.
Price speculation: Currently in the 0.00025 btc range, I don’t expect LBC to drop below 0.00021 btc in the days ahead. For short-term profit, I would set orders under 0.00033 btc and expect it to trade around 0.0003 btc until it takes its next swing. Selling a portion to cover costs and keeping some may prove profitable over the long term. There will be competition in the content revolution and LBRY Credits has good support, but will they get large scale adoption?
Matchpool is an Ethereum token based on social networking. GUP offers a platform for crypto users to find people with similar interest. Matchpool will function both as an employment recruitment center and a place for personal matchmaking.
Price Speculation: GUP is currently trading in the 0.00011 btc range and showing strong support at this price. Although it does not yet have large volume, I anticipate it to increase when the platform is more widely adopted. GUP has the potential to reach 0.00016 btc and above 0.0002 btc in the month of July. It is not the most profitable coin for day-trading, but a good buy while still in its infancy.
CoFound.it utilizes the power of a distributed economy to connect start-ups with experts and supporters. CFI is a self sustaining business that aims at connecting carefully selected projects with investors and professionals.
Price Speculation: At the time of writing, CFI is trading in the 0.000075 btc range. This new currency shows promise and I anticipate the upward trend to continue. For short-term trading profits, one could set orders just under 0.0001025 btc or 0.000115 btc. A swing above 0.00015 btc is possible in the near future if given enough momentum. CFI is not on my list of top trading profits, but is a long term project with potential.
Trading markets are volatile, never risk more than you can afford to lose. These are my own trading opinions and should be used as an example, not a guide. Always do your own research and chart analysis.
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