My January 2019 "Crypto Health" Rankings
I figured this could be something fun to do every once in a while (or once a month)... share my personal current Top 5 Cryptocurrencies, by Rank, Trend and whether I'd Buy, Hold, or Sell...
While I do a lot of my own analysis, research and due diligence it should go without saying that this is just one Crypto-dude's opinion... and not actual investment advice. I always recommend everyone do their own research, analysis and studies before investing any of their hard-earned money. In fact, that's part of the FUN of all of this. :-)
- Bitcoin / BTC Trend: - (Hold)
This should really come as no surprise as, love it or hate it, BTC remains the Godfather of all Crypto with the strongest market cap and user base. That is not likely to change anytime soon, if ever. Now, that doesn't mean you should rush out and buy BTC right now (in fact, I'd caution against that as I do believe we'll see it drop at or below $2,000 USD before the bear market is truly over). But folks should accept that it is here to stay. And if you have any Bitcoin right now HODL it.
- Ethereum / ETH Trend: - (Hold)
Crypto's 2nd biggest currency is finally starting to show some good healthy signs after it's rough 2018, and the Constantinople fork sounds promising. But there will still be some growing pains and I'd expect it to drop a few more times and wash out some more before it hits its stride again. Like BTC, this is a Hold.
- Ripple / XRP Trend:^ (Buy)
I have my own skepticism about Ripple (or, XRP). It's not Blockchain and is more of a "banker's cryptocurrency". This gives me a lot of caution. However, there can be no denying that it is gaining in momentum at a rapid pace, and has its own very passionate fans. I believe it will be quite successful. I'm buying XRP, but I'm also doing so mostly as a hedge because I'd rather support true decentralized crypto.
- Cardano / ADA Trend:^ (Buy)
Cardano (Ticker name "ADA") is one of those up-and-coming cryptos that has seemed to garner overnight buzz. In looking at its history, trends, market cap and overall health this is another crypto that I can see doing very well. Also, at a mere .04 cents or so per ADA (at the time of this writing) it's a very cheap buy with minimal risk. I've been buying lots of ADA lately. I do think it will dip back down to the .03 cent range at some point, however, so I may wait for that before I jump in "whole hog".
- Eos / EOS Trend: ^ (Buy)
Believe it or not, this 5th slot was a VERY close call between Eos and two other cryptos that are right there (Tron/TRX and Litecoin/LTC). However, EOS' overall health and its price-to-market cap ratio gave it a slight edge here. I'm buying, but cautiously.
Anyway, there it is. Again, this is just my personal opinion and not actual investment advice. And I could very well be wrong. But it was fun putting this together, and I think I may continue to do it so every month or so. It'll be fun to look back on one day once all the markets have had their say and all the dust has settled.
For those curious, I use several different tools when doing my analysis, particularly Coinigy.com, CoinMarketCap.com and the several live Market charts on the exchanges that I use.
Anyway, I hope folks at least find this an interesting, quick read. What are some of your favorite Cryptos at the moment? I'd love to hear! The more thoughts and opinions the better! :-)
~RoninGaijin
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