As of press time Bitcoin dominance dropped back to 36.5% from its 2018 high of 45% on mid-April. This means that the altcoins are getting some traction when it comes to price and market capitalization. If you want to join the altcoin bandwagon and trade short term, here are some of my personal picks for the top 5 altcoins for the month of May 2018.
(DISCLAIMER: This is not financial advice. These are picks based on my own research and personal choice.)
Wanchain is a new cryptocurrency that is taking the cryptomarket by storm. It just grabbed a market capitalization of $400 million at the beginning of April. Currently, it sits at $813.5 million market capitalization, and is still rising. The price went from about $3 to $8 in just a span of 1 month. There is huge potential for growth here in the short term.
Binance Coin ($BNB)
Binance Coin is a good short term investment opportunity now at its current price. This has been around since the Binance trading platform was established. Binance Coin is also used as a fee token for trading at the Binance platform. Price is always fluctuating between $10 and $30, and is currently sitting at $14.97. On the short term, this could be good investment.
This is one that has not yet really broken out ever since the dip that made the price plummet all the way down to $2. It is currently sitting at $4.19, and technical analysis and price action show that a breakout back to $10 to $12 levels is pretty much imminent. If you want to get in before the price recovery begins, make sure to invest on Icon at this level.
NEM is a great and promising project that has not yet recovered back since dropping during the 2018 first quarter crypto storm. It currently sits at $0.38, and is at a good price for entry. This coin is good for short term to mid-term hold, and even has potentials for long term hold.
Lastly, my personal choice for short term altcoins is Cardano. Cardano is currently sitting at a long bear trend, and is priced at $0.32 as of press time. This is good for short term to mid-term holds, and also has great potentials for long term hold because of its developing technology. If you want to get in before price action begins to recover back up, you may want to put your positions at Cardano at this level.
Again, these are my personal choices for short term altcoin trading. Do your own research and trade wisely!