Trading At A Discount? Bitcoin Cash (BCH), Odyssey (OCN), CyberMiles (CMT)
The vast riches that early investors in cryptocurrency made in the 2017 price boom has left many of us who missed out desperate to make it. The first coin to go for would be Bitcoin (BTC).
However, it appears not for beginner investors. That’s why I believe these three coins offer a better chance.
Bitcoin Cash (BCH)
Bitcoin Cash could be a bargain-buy if you look at its price movement since it began trading alongside its strengths as a blockchain product. It is a fork of the Bitcoin chain, holding the old chain and thus could qualify as the “original”.
However, that debate aside, recent events suggest that the BCH team is determined to see the coin reach objectives of being truly decentralized, cheap, and secure.
I have looked at data about the coin from CoinMarketCap since it began trading on in August after the fork that gave rise to BTC and BCH. On August 2, 2017, the coin traded at $382 against the US dollar. A few days later, it dropped to an all-time low of $200 on August 5th.
However, stats show that it embarked on a remarkable rally, surging in value to reach an all-time high of $4355 on December 20, 2017.
2018 has not been favorable, however. Like most other coins, it has lost more than 70% of that value at the moment. it has dropped to a low of $603 and touched a high of $1838 in 2018. Currently, Bitcoin Cash trades at $1007 against the USD and remains 4th in terms of market cap.
Bitcoin Cash has a working product, is listed on all the major exchanges and is already accepted globally as a payment currency. Analysts also point out that it could easily reach over $2,500 in 2018. I believe these reasons make BCH a cheap buy at the current prices.
OCN is one of the latest coins to make it to the market with a blockchain-based idea. It’s currently ranked 236th on CoinMarketCap with a market cap of $31 million.
Interestingly, the coin has seen a total of over $23 million worth of its token traded in the last 24 hours. This is despite the coin losing -2.67% of its value in the same period.
The token began trading in Jan and by Feb 5; it reached $0.026 against the US dollar. This was way past the 2017 boom, but it steadily surged to hit an ATH of $0.042 by May 13th.
In between, it touched an all-time low of $0.005 on March 18th. Currently, the token is trading at $0.0156, far removed from that high price seen on May 13, 2018.
Based on the strength of its platform, and its potential, I believe OCN has the capacity to hit a higher price in the future. It’s not guaranteed, but the launch of an OCN mainnet could be a turning point for the coin.
When it does launch, the team plans to integrate cross-border blockchains, undoubtedly making it robust enough to handle mass adoption. In addition, the coin is listed on Huobi, Upbit, Bittrex, Gate.io, and so on. It is yet to get to exchanges like Binance that could help push prices higher.
It’s not therefore completely off the mark to say OCN remains one of the coins to watch as 2018 draws close to Q3.
CyberMiles (CMT) is yet another of the emerging projects that have seen tremendous growth despite the general market downturn. It has quickly moved up the rankings to currently sit at 67th with a market cap of $263m, and a 24h trading volume of $71 million.
The token is trading at $0.38, rising by over 24% on May 30, 2018. Although the 24h spike has dropped to about 4%, its 7-day price jump is +35.3%.
CyberMiles has had some huge announcements recently. This includes an exciting partnership with Shuanghua Capital- blockchain Investor Company. They also integrated with ICONOMI’s Digital Asset Arrays portfolios.
That’s not all, the project also introduced Blocktonic.io, an online marketplace designed to exclusively accept CMT token as a payment method. It offers users over 60 products and has a rebate program running for a year.
One more thing to look forward to on the CMT platform is the upcoming Mainnet which is expected later on in the year. Scheduled for Q4, the launch is already exciting the community.
The CyberMiles token was recently also added to the trading platform Rfinex. The CMT team posted a Twitter message to its community about the listing on Tuesday that said:
“CMT will be listed on Rfinex in 6 hours (Beijing Time). Until tomorrow, the trades made with CMT from the exchange platform will be free of charge.” It’s likely this has contributed to the surge.
Should you buy CMT tokens? You may be doing so at a time it’s surging, but this is far from its all-time high of $0.60. It’s worth looking into, especially now.