How to Spot the Best Opportunities in Cryptocurrencies
By now, you’ve heard a lot about the crypto boom taking the world by storm.
The market once valued at $17.7 billion in 2016 is now worth more than $500 billion. And, chances are good it could rally to $1 trillion, says crypto analysts.
Even the big boys are jumping on board.
BlackRock is looking to get involved now, too.
“BlackRock exploring crypto assets comes as no surprise and is definitely a positive development for the crypto market. As the largest asset manager in the world, its interest in crypto assets could be a catalyst for upward price movement and encourage other asset managers, even with more conservative strategies, to seriously explore investing in the crypto space,” said Chris Yoo, portfolio manager at Black Square Capital, as quoted by Forbes.
The CFA Institute noted that it sees the crypto “field advancing more quickly than other fields and we also saw it as more durable,” said Stephen Horan, managing director for general education and curriculum at CFA Institute. ”This is not a passing fad.”
In short, the excitement has only just begun.
And the key to finding the standout cryptos to own is actually the news.
Yep, one of the best ways to find opportunity is the news.
All you have to do is compile a list of the hottest cryptos trading, and track the news every morning. What we’re looking for is news of further coin acceptance, as well as the possibility of institutional interest.
For example, Ethereum Classic (ETC) has become a favorite among crypto traders, especially on signs that it’s on the verge of a major breakout. In fact, some believe it could run to $20 on news that it’s being added to the Coinbase.com platform in “coming months.”
“We are pleased to announce our intention to add support to Ethereum Classic (ETC) on Coinbase in coming months,” read a June 11, 2018 tweet.
However, analysts believe ETC’s integration may happen sooner than expected.
“Coinbase said something to the effect that integrating Ethereum Classic has been quite easy, since it is very similar to Ethereum. This can be interpreted to mean that the integration of Ethereum Classic is already complete. Rumor has it that this could be as early as next week. If this turns out to be true, then Ethereum Classic could be headed to the moon in a few days,” notes Crypto Globalist.
ETC soared from $12.35 to $17.03 since June 2018 on that news.
Learn How to Spot Unique and Predictable Patterns in Cryptos
Even Stellar (XLM) was on the move in recent months on news that Coinbase.com noted that it short-listed XLM as a possible candidate for its exchange listing. In fact, according to Hacked.com, “XLM is one of five crytpocurrencies being considered for inclusion on the Coinbase digital currency exchange.”
In another major development, China’s biggest crypto exchange platform, Huobi announced that it would allow trading on Stellar starting July 26, 2018.
XLM jumped from 18 cents to 34 cents.
Or, look at Bitcoin (BTC).
The coin has been thriving in recent months on news that the U.S. SEC could approve a Bitcoin exchange fund (ETF). This comes after a request filed by New York-based, VanEck, and also blockchain platform, SolidX. It could happen as early as August 15th, 2018. “If approved a Bitcoin ETF would mean people are be able to buy into Bitcoin without having to deal with clunky exchanges that often struggle with cumbersome regulation and lack of public trust,” says Forbes.
BTC jumped from $6,183 to nearly $8,500.
When it comes to trading crypto, the news can create significant, long-lasting momentum. Granted, we can always just watch the technical patterns, too, but with hot news, chances are good momentum and interest will follow.
Bonus Report: There are several patterns that can pintpoint the likely price movement of cryptos. Click Here to get the full report on how to spot these patterns.