E L Emerson – Tuesday 6th February 2018
As cryptocurrency market stalwarts bounce through lower and lower prices this week, and savvy investors seek out signs for when the bottom will finally arrive, we look at some of today’s altcoin alternative rockets and bombs; who we think could be the next big earners or blockchain-driven explosions in your trading portfolio.
With a move from $0.00 to $0.195 since it arrived on the cryptocurrency scene on 15th January 2018, an over $92 million market capitalisation and $25 million volume over the last 24 hours, the first global mutual insurance marketplace on the blockchain known as MediShares has caught a lot of people’s attention.
The value of this Ethereum-based currency is through its function that allows anyone to join a mutual aid scheme by sending variable amounts of MDS to a smart contract.
In so doing, MediShares combines a traditional mutual insurance model with blockchain technology and smart contracts, to deliver low operating costs backed by a guarantee of compensation for risks.
Over the last 24 hours the blockchain-driven global mutual aid marketplace currency has gone up approximately 25% from $0.15 to $0.19 per coin, though it has traded within that range with slight peaks and troughs above and below.
HNW’s Recommendation: Buy & Hold at $0.12 to $0.15
It’s one of those very enticing looking coins at first sight; sitting amongst the top 3 biggest gainers at 30% in the last 24 hours, the price while upwardly mobile is still at the right hand base of its latest candle, and you’re thinking you might just be staring at a 10X multiple if it can once again ascend from its current $0.000023 back up to its former apex of circa $0.00027.
But the 24 hour volumes of between just $70k and $80k are the stuff of near disinterest at this stage in the cryptocurrency world. And for the coin that had an incredible start to 2018 – trading at $0.000004 at 26th December – by registering a 6,000% increase, that historic rise looks more like a community driven one-off crypto-euphoria-gasm than anything resembling staying power.
PACcoin actually started life in 2013, introduced by William Corliss as the official coin of the Pacific Nation, but was thenleft for dead for four years, until it was rebranded in 2017 as the People’s Alternative Choice (PAC).
There are suggestions that some 100,000 individuals own PACcoin, presumably by wallet count, but this seems very much like a “community coin,” completely with a somewhat non-specific mission statement of “building a strong community that is able to provide charitable solutions via content, media and alternative choices.”
That said, if those relatively voluminous PAC members can dig into their charitable pockets and start a serious tilt upwards, sentiment could create another spike in the near or distant future. But it seems implausible that price will hold unless the folks at PACcoin suggest a more measurable and time-bound objective that can help fix a real market pain out there.
HNW’s Recommendation: A Fool & His Money…
How to Start Trading Cryptocurrencies
It’s simple to get started:
- Open a free account at Coinbase where you deposit funds from a bank account or credit card.
- Buy Ethereum or Bitcoin with your new Coinbase account (see our recommendations on buying and selling these premium coins).
- Once you have purchased Bitcoin or Ethereum on Coinbase, go to Binance and open a free account there. This will allow you to transfer your Bitcoin or Ethereum over from Coinbase and start trading in hundreds of other cryptocurrency options.
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