The cryptocurrency market has been bearish for the whole of 2018 until current trading period. While many investors are suffering from huge losses and are running scared, this is the best time for buying more and hoarding tokens since Bitcoin and most of the market’s biggest coins are at bargain prices.
IOTA, NEO, XRP, and ADA
According to Weiss Cryptocurrency Ratings, a renowned financial analysis firm, the top four altcoins that are “absolute steals” are the following: IOTA, NEO, XRP, and ADA. While there are lots of negativity in the market, Weiss Ratings see huge upside potentials for these four coins in terms of fundamental blockchain technologies.
Weiss Ratings said in a tweet,
If you believe #crypto market will return to its former glory, the benchmark for a 10X gain, is a 90% retracement. As of today, here are a few of top-25 coins that are at or above a 90% pullback: #IOTA = 90%#NEO = 91%#XRP = 93%#ADA = 96%
These are absolute steals right now!
— Weiss Ratings (@WeissRatings) September 17, 2018
It is important to note that Weiss Ratings’ analysis is based on the fundamental aspect of the coins. This means that the analysis is on the point of view of an investor to the technology, and has nothing to do with price action or technical analysis. Nevertheless, despite not disclosing much detail, Weiss Ratings’ mention of the tenfold gains could be based on historical accounts of coins making a 90% retracement before surging to all-time highs as high as 10 times the pullback price.
10X Gains Potential
Looking at the current prices of IOTA, NEO, XRP, and ADA, the 90+% retracement puts each coin at a massive discount. While technical analysis should come into play for determining entry points, these coins’ price action is already great for position traders. Among the four altcoins mentioned, it was XRP that surged 3 days ago by as much as 89% increase compared to last week’s price. It is only a matter of time before the other 3 altcoins mentioned take their shot back to recovery.
Aside from IOTA, NEO, XRP, and ADA, Weiss Ratings also mentioned other cryptocurrencies worth watching, namely Nano, Basic Attention Token (BAT), Stellar (XLM), and EOS.
(DISCLAIMER: This is not financial advice. The analysis and recommendations provided here are based on my own research and personal opinion. Trade wisely!)