Bitcoin is raging, but you probably don’t want to get long at these levels because there’s too much risk to the downside. Even if there’s a chance it could go to $100K, I don’t think it’s worth it. Nearly everyone is talking about Bitcoin and large alternative coins (altcoins), like Ethereum, Litecoin, Monero and Zcash, to name a few. However, I haven’t heard as much buzz around some altcoins I’m in and looking to get in.
Here’s an email I sent out to our community of crypto traders:
Altcoins on my radar
If you haven’t heard yet, MANAUSD more than doubled in just one day, and if you got in this week, you would’ve got paid. Here’s the move in MANA:
We had an entry of around 7 cents, and the altcoin spiked all the way to 20 cents, not too shabby. It’s right at the 50-period moving average, but I think this could have another leg higher, if we get some volume.
Decentraland is the first virtual platform that’s owned by its users. You’re able to purchase opportunities and create a piece of the universe. You could also purchase land with MANA. With all the talk of virtual reality, MANA could continue its momentum and run higher. All users need is a VR headset and some MANA to get started.
The next altcoin play
We’re looking for a breakout in SALT soon. It’s been running higher, but still trading within a range.
Here’s what we’re watching:
SALT Lending (SALT) is trading near its previous high around $8, and we’re waiting for a break above this level, coupled with supportive volume.
SALT lets its users leverage blockchain assets to secure cash loans, making it easy to receive money. The best part, you don’t have to sell out of your cryptocurrency investments. Since SALT keeps the collateral assets in an ultra-secure, fully-audited architecture for the life of the loan, users could borrow with confidence. That said, this could be a revolutionary altcoin, and if more users adopt, it could have a meteoric rise, much like that of Ethereum and Litecoin. For now, I’m going to wait for the setup to materialize before pulling the trigger.
You don’t have to get into bitcoin to bank a profit, there are a lot of altcoins out there that have immense upside potential. We’re taking out some of the work for you and finding altcoins that could rise significantly, and you could potentially double your money in some of these.
Terry Scott runs Crypto Trader Pro. He has been trading stocks for nearly two decades and cryptocurrencies for two years. He primarily trades altcoins using proprietary trade tech and is constantly in search of the next big move.
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