There is a lot said about the high market cap cryptocurrency coins. I wanted to go over 2 undervalued coins that could be on the verge of exploding upward. Let’s get right to it.
Coin 1: NLC2
Reasons to Watch
1. NoLimitCoin is currently ranked 98 according to Coinmarketcap. When a coin makes it into the top 100 it starts getting a lot more attention. Once it hits the top 50, it will be analyzed by a lot of the top investors. It’s good to get a position in a coin before it crosses the top 50 threshhold. While altcoins are get the crapped kicked out of them NLC2 is moving up against the grain. If you look at the rankings you will see most coins in this range have gotten hammered this week from the upcoming bitcoin fork. However, NLC2 has gained 3% in the last 24 hours as of now.
2. NoLimitCoin has a beta product out that is currently being used. In an industry where almost 80% of altcoins don’t even have a product released yet this is a very good sign.
3. NoLimitCoin has not hit the biggest exchanges yet. It currently has a market cap of $42,020,962 currently. I would expect this to rise when they hit a major exchange such as Bittrex or Binance.
Looking at the 6-month chart you can see that there was a downtrend, however, over the past couple of days the trend has begun to change. What you don’t want to do is buy a coin when it is at its highest point so you want to look at altcoins that have the potential to explode up in a parabolic rise when something major happens to it. As I said earlier, NoLimitCoin has not hit the top major exchanges yet so it has a very good chance to increase its market cap and jump considerably. It has a working product and has just released a new UI (User Interface) which partly contributed some to the spike. NLC2 has a strong community behind it and a lot of its bigger marketing plans have not even been fully implemented as this point from what I gather from the community. This is one to watch as I believe they are releasing more features to their product in the near future.
Coin 2: PIVX
If you look at PIVX you will see it has been on a downtrend as well (Most altcoins have been). This is another coin that is currently undervalued. If you look at the monthly chart you can see that the MACD line is crossing upwards over the signal line. The signal line is the 9-day EMA (Exponential Moving Average). When the MACD (Moving Average Convergence Divergence). MACD is calculated by subtracting the 26-day exponential moving average (EMA) from the 12-day EMA. What this means is that PIVX could go on a bullish (upward trending) run. For those that may not know, the MACD and the Signal line are the two lines that are under the candle chart. These two indicators are incredibly useful when studying coin charts to help you decide the current direction of the coin. What is also important to look at is the volume which you see as gray bars directly under the candle chart.
Reasons to Watch and Buy
1. PIVX stands for Private Verified Instant Transaction. PIVX is a privacy coin. If you look at other privacy coins you will see that they do amazingly well. Coins such as Monero, Dash, ZCash, Verge. PIVX is a 100% Proof of Stake coin which means it doesn’t rely on miners and rewards through Proof of Stake. So it depends on masternodes to verify transactions. Users can buy into the coin and after buying so many coins be eligible to own a masternode and get rewarded for helping with the stability and processing of coin transactions. This coin has the potential to follow in the footsteps of Dash coin as it was forked from Bitcoin just as Dash. Dash now has a $2 Billion dollar market cap while PIVX is at $153 million. This is very undervalued coin in my opinion.
2. PIVX is a true privacy coin. Unlike Bitcoin where all transactions and addresses are store on a public ledger where anyone could possibly trace the address to a person, PIVX has implemented a protocol called Zerocoin which allows block-level chain anonymity. I don’t know about you but if I had millions of dollars I wouldn’t want my transactions to ever be traced back to me. PIVX prevents that from happening.
3. PIVX just released the final version of their wallet. They are delivering their product which is a big deal as a lot of companies are nothing more than a whitepaper and a fancy website. They are currently working on more security features as well as a completely encrypted, secure chat system within the wallet.
4. PIVX is currently being considered by Binance.com to be added to their exchange. This would definitely affect the price.
5. PIVX allows you to buy coins in order to receive a masternode. You will get paid just for maintaining this masternode as it will be used to process PIVX user transactions. You can also earn interest on any amount of PIVX you have as long as it is in your PIVX active wallet. So you will be getting paid to hold PIVX coins as well as enjoy profits as the coin rises in value on the exchanges as well.
That’s all I have for now but I will continue analyzing coins in my upcoming articles. CryptoDayTrader out…
Featured image courtesy of Shutterstock.