Today’s Crypto Top 10: Buy Bitcoin & Ripple, Hold Ethereum, Watch NEM

E L Emerson

26th January 2018 – In today’s Cryptocurrency Top 10 we look at Bitcoin, Ripple and Cardano with interest as coins who’ve reached HNW’s preferred buy-in ceilings, recommend holds on Ethereum, Bitcoin Cash and Stellar, and suggest cashing in on NEO, EOS and Litecoin. 

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Now, let’s get on with it…

Bitcoin (BTC) | 24-Hours – Down 5%

Current Price: $10,755

We have held the line on buying Bitcoin for our readers, suggesting they hold off until it drops below the $11,000 mark. That’s now happened three times this week, and we predicted it would happen again. And here we are at $10,755. We’re also predicting that it won’t stay anywhere near this range, and that Q1 for Bitcoin should see it rise upwards towards the $20,000 and above mark. 

HNW’s Recommendation: Buy while it’s in the $10,000 to $11,000 range at Binance.

 

Ethereum (ETH) | 24-Hours – Down 2%

Current Price: $1,038

While the last 24-hours have seen Ethereum skate around its current price mark, once again it’s nowhere near where we see this altcoin as a buy. That’s not to say we don’t expect some price spikes and drops out to end January, but we remain set on the idea that Ethereum’s best buy-in point is between $400 and $700. The braver amongst you might take a punt at $850, but you’ll likely see more of a drop before a gain. If you’re currently holding Ethereum, then we suggest you hold on tight. This could be a bit of a wild ride into February. 

HNW’s Recommendation: Hold if you’re already in. If not, be strong and wait for a price of between $400 to $700 before buying at Binance.

 

Ripple (XRP) | 24-Hours – Down 9%

Current Price: $1.21

The tease is over (for now) as Ripple has tripped the buy wire by dropping down into the top of HNW’s recommended buying range of $1.10 to $1.20. Of late, Ripple has been meandering between the $1.30 to $1.40 space. HNW sees Ripple returning to its previous higher range (and beyond) of between $2.00 to $3.50, which it held throughout the course of early January.

HNW’s Recommendation: If you already own Ripple we suggest you hold on to it or buy more now. If you’ve been waiting patiently for the right time to get in, we hold firm that the $1.20 and below mark is when you’re best doing so. As always, buy it at Binance.

 

Bitcoin Cash (BCH) | 24-Hours – Down 2%

Current Price: $1,600

While experiencing a $150 plunge this morning from it’s $1,650 mark at about 7am, Bitcoin Cash has recovered two-thirds of those losses moving into early afternoon trading. BCH continues to tread water near the mid-tier point of its last surge and, as predicted, remains steadfastly above HNW’s preferred watermark buy-in ceiling of $1,200. Keep in mind the rise Bitcoin Cash coin holders enjoyed as it vaulted from about $1,500 to over $3,500 in the space of 10 days from 11th to 21st December. We’re in descent mode at present. So if you’re holding BCH, stay strong. 

HNW’s Recommendation: Hold on if you’re already in. Wait for $1,200 and below if you’re not, then buy at Binance.

 

Cardano (ADA) | 24-Hours – Down 3%

Current Price: $0.62

OK, so maybe we spoke a bit too soon when we said “I told you so” yesterday regarding our prediction that Cardano would rise and rise. It certainly has done since we touched the HNW buy-in price threshold of $0.55, but it’s done so in fits and bursts. We hold firm that Cardano, now alongside Bitcoin (see above) is the best buy of the week in the Altcoin Top 10. It’s still not too late to get in, but try and wait for any further dips that touch near to the $0.55 mark before doing so. 

HNW’s Recommendations: If you’re holding Cardano then you may want to stay put or increase that  holding.  If you’re not then the $0.55 buy-in ceiling is still the ideal but we feel it’s unlikely to return anytime soon. 

 

Stellar (XLM) | 24-Hours – Up 0.5%

Current Price: $0.61

Stellar is a hold if you’re already in, unless you came in at the $0.30 to $0.40 range, in which case you might want to consider paying yourself now and looking towards Bitcoin (first), Ripple (Sscond) and Cardano (third). XLM is currently miles away from where HNW sees a buy-in point worth taking, and we think the dip will increase a great deal before it gets better. 

HNW’s Recommendation: Up your Bitcoin if you’re cashing in. There’s an option to hold but it could get ugly for a while. We think potential buyers should reconsider until it’s $0.10 to $0.12 range. Then buy it at Binance.

 

Litecoin (LTC) | 24-Hours – Down 1.39%

Current Price: $176

Litecoin, as previously reported, continues it’s mid-tier sideways trajectory following an impressive trip upwards to the $350 + range in mid-to late December. Yesterday, we suggested the likelihood of a slight spike upwards, which has thus far come to pass. So, if you’re holding Litecoin we suggest you stay in – obviously depending on what price you paid – or cash out into Bitcoin, Ripple or Cardano. For potential buyers we suggest you grab your knitting needles until we see a monumental price drop. 

HNW’s Recommendation: The smart buy is at $55 to $75. The more adventurous might consider a stake at $100. As always, buy it at Binance.

 

EOS (EOS) | 24-Hours – Up 42%

Current Price: $14.12

EOS has leap-frogged NEO in the market capitalisation stakes…for now. But be prepared for these types of positional switches to become standard practice as 2018 heats up. In fact, HNW will be bold enough to say that the Altcoin Top 10 will probably look very different at the end of 2018 than it does now, perhaps even unrecognisable. Now, if we had one agenda this week it was to get a handle on EOS price action. Sadly, we’re no closer to fine on that objective. We’re seeing an unusual price plateau right now that’s not near far down enough to call a mid-tier correction – a common design with cyrptocurrency “candles.” EOS’s one-month (and even the one-year) price action tells us little about the future direction of this coin. We’ve held firm that this is a stand back an wait option for those on the outside looking in. For those already invested, and who didn’t buy at the peak, you might want to consider a break even or better price during one of EOS’s many upswings, and run to Bitcoin or Ripple. But quite honestly, this one is crap shoot right now. It could go either way.

HNW’s Recommendation: Stand back until there’s a return to the $3 to $5 range. As always, buy it at Binance.

 

NEO (NEO) | 24-Hours – Up 0.5%

Current Price: $137

There was a $10 price swing over the last 24 hours which takes us back to nowhere on the win-loss scales. NEO is in classic mid-tier price position following it’s recent peak on 15 January at $192. If you’re in then stay in. But if you’re out you might want to stay out…for the moment. This altcoin is one of the few that appears to take on long-ish sustained rises before the eventual fall, and those who stayed that course were rewarded nicely for it. But right now this looks more like the downslide than another upward move.

HNW’s Recommendation: This is an ideal buy at $25 to $50 at Binance.

 

NEM (XEM) | 24-Hours – Down 8%

Current Price: $0.85

OK, here we go. We’ve seen a nice sustained slide now from NEM over the last week, which is good news for those waiting on a good price point of entry, and not so good for the buy and hold mob. As we’ve said all week, there’s rising interest in NEM as the potential new darling of HNW’s Altcoin Top 10 – we expect NEM could now be ready for a price jump, but not before it comes to grips with a more realistic buy-in ceiling. 

HNW’s Recommendation: If you’re already in you might want to stay the course and recoup on the next big upswing. If you’re on the outside, wait for that $0.50 ceiling to break, then get it at Binance.

 

NOTE: You’ll notice that HNW recommends using at Binance to buy / trade. This is an affiliate link. It doesn’t cost you anything to use and if you sign up to Binance it helps us to pay the bills.

 

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Emerson

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