Investors continuously scour the market for attractively priced assets, looking to cash in on a probable bullish run. While the market is dotted with numerous low-priced coins, getting a potential gem means trusting some higher priced ones.
Do you buy or stay away from Bitcoin Cash (BCH), IOTA (MIOTA), Qtum (QTUM), and EOS (EOS)?
Bitcoin Cash (BCH)
Until a few weeks ago, Bitcoin Cash was mired in controversy after controversy. At the moment, it appeared that the crypto could be swept away. But a week is a long time in crypto and in a month or two, Bitcoin Cash has been transformed.
An adoption drive to have BCH accepted by merchants and vendors sees the coin trend thanks to initiatives like BitcoinCashiers.org.
Further initiatives like the proposed removal of transaction fees and the recent network upgrade put Bitcoin Cash in great shape for growth. More importantly perhaps is the recent meet-up in China.
Over 100 developers are reported to have gathered in the city of Hangzhou to find ways of developing blockchain dApps on BCH. If these initiatives bear any momentum, the coin could see unprecedented growth in the coming months.
Bitcoin Cash has all the ingredients of a bullish run in 2018. Bearing in mind that it has already hit past $1500 this year, predictions of over $2500 aren’t far off the mark. At the moment, the coin trades at $1,101 against USD. Though -4% down over 24 hours, it’s +11% up in 7 days. Given it can do double this year, BCH is a buy.
IOTA has had a fairly good run amid the bear market in May. A confluence of positive news has seen it gain consecutively to reach the top 10 and replace TRON (TRX) in 9th place on XBT.net.
The Internet of Things (IoT) and Machine-to-Machine (M2M) is set to change with IOTA’s technology. The platform is one of the cryptocurrencies with the most number of partnerships secured in 2018. There are targets in the automobile industry, health, energy, supply chain, and banking.
But that isn’t the only appeal of MIOTA to investors at the moment. It’s the capabilities of its Tangle protocol. Other than features like high scalability, it offers additional appeal with zero fees transactions, completed in real-time.
The recent release of details regarding Qubic, added to the crypto’s smart contracts capacity, making a potential challenger to established platforms like Ethereum. The coin is also available on numerous exchanges and the list continues to grow with Bitpanda set to add MIOTA pairs.
Currently, IOTA trades at $1.69 against the USD. The coin has dropped by 1.3% and 7% over 24h and 7-day periods respectively. MIOTA is predicted to reach at least $5 in 2018. It’s one coin that may not disappoint.
Qtum is one among a host of coins in a race towards $20 in 2018. The decline over several weeks in May and an inconsistent June see it trade just above $13. QTUM had a slightly better performance over several weeks in late April and early May, rising to reach $22.9 at the end of the month. It has however dropped, though sentiment could be the deciding factor for this coin.
The announcement by the development team that they would put more effort in marketing and adoption should be good news for the community of investors. It’s obvious that the Qtum platform has great potential, more so in dApps due to its superior hybrid blockchain. Founder Patrick Dai has promised that the devs are focusing on making the platform competent in future.
If the community stays passionate, then Qtum will rally. At $13.3, the coin can be a good buy if sentiment improves. At the moment, it’s a 50-50 due to stiff competition.
The EOS blockchain was supposed to have gone live by now. However, days after a snapshot of the EOS tokens on Ethereum was taken, the EOSIO hasn’t been launched yet. That has been scheduled for the weekend.
The confusion in who is going to finally launch the network on which EOS coins will live was partly brought about by Block.one. The team of developers who worked on the blockchain software promised not to be part of the launch. It handed it to the community which has been “experimenting” to see whether it’s ready for launch.
Until this confusion, EOS was one of the most attractive projects. It was viewed as a possible competitor to Ethereum. It may still rise from the confusion and rally.
At the moment, EOS tokens are trading at $13.82against the USD. Over the last 24 hours, the coin has slid by 1% and rose by 13.63% over 7 days. The rally early in the year means a repeat is possible. However, an investor convinced by the blockchain capacity of the coin would do well to wait until after the mainnet goes live. For now, keep a distance.