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Here’s the latest Top 10 Cryptocurrencies Buying Guide excerpt from HNW’s Altcoin Top 25 weekly update, where we chart the performance of the leading coins, give you insights into what makes each one valuable, and look at trends, trading ranges and when to buy and sell.
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Bitcoin is sitting at £11,348 (at time of writing). That’s just a hair’s breadth off our running recommendation to buy Bitcoin when it hits the $10,000 to $11,000 range – see yesterday’s Top 10 Cryptocurrencies Buying Guide from 23rd January.
The recent drop into the mid £11,000’s is a noticeable dip out of the $12,500 range of the past week, and significantly down on the $15,000 to $17,000 range of late December to early-mid January.
HNW’s Recommendation: Buy in the $10,000 to $11,000 range and check out currency exchange Binance.
Ethereum remains in a wait-and-see position with today’s price of $1,025.
The recent dip, while worth watching, is still not what we see as a buying opportunity; we’re just 30% to 40 off Ethereum’s all time high of around $1,400. The time to have gotten into Ethereum for this current phase of price growth would have been back in early December.
HNW’s Recommendation: Wait for Ethereum to drop back into the $400 to $700 before considering a buy.
Ripple continues to tease traders and investors as it circles at $1.40.
That’s just outside HNW’s watermark buying price of $1.20 for this current surge.
The coin that unseated Ethereum for the second most valuable cryptocurrency in early January should be kept a close eye on. Legal issues and coin exchange exemption dramas have impacted buyer sentiment.
Keep in mind that Ripple topped $3.50 just a few weeks ago.
HNW’s Recommendation: Buy at $1.20.
Bitcoin Cash (BCH)
At it’s current price of $1,660, Bitcoin Cash is now more than half way down the price mountain it ascended between early November and mid to late December to over $3,500.
But the BCH buying sweet spot is still a few hundred dollars away yet if you’re looking to maximise your returns on the next price surge.
HNW’s Recommendation: Watch for a base of $1,100 to $1,200 before buying in.
ADA continues to be the “sleeper” coin in HNW’s Altcoin Top 10 this week, with a current price of $0.60.
We see this as a buying opportunity now.
As per yesterday’s update, we watched Cardano break out in early January to a high of $1.20 and has now conveniently slunk back down to the top of its preferred buying range of $0.40 to $0.55.
HNW’s Recommendations: Today’s best buy and hold.
Litecoin continues it’s mid-tier sideways trajectory, as it wanders through its mid-range price of $180, following a peak on 19 December at $350 plus.
But the big Litecoin winners were those bought in at $55 in early November and watched it hit that $350 high just a month and a half later.
The current retrenchment still marks a good buy and hold position for owners, as we expect a strong 2018 performance from this altcoin.
HNW’s Recommendation: Smart buy at $55 to $75. For the more adventurous consider a stake at $100 or less.
Stellar at $0.57 is now sitting slightly up on yesterday’s price of $0.50.
Like Litecoin, that’s 50% off it’s all-time high in early January. However, the potential of a landslip is far steeper on Stellar than it is on Litecoin. We remain in the wait-and-see camp here.
HNW’s Recommendation: The bargain buy in point for Stellar is in the $0.10 to $0.12 range.
NEM is still in the $1.00 range, with a price at the time of writing of $0.97, and riding a slightly downward trajectory.
Following it’s early January vault up to $1.80 it has now fallen back and, like Stellar, we see the curve here as both steep and potentially treacherous.
HNW’s Recommendation: The buy in price we like for Stellar is $0.25.
EOS continues it’s altcoin space oddity ride at $13.34.
As per yesterday’s update, if Cardano is the most tempting option we’re seeing in today’s Top 10 Altcoin roundup then EOS is probably the most confusing.
After a five month sojourn through the $0.50 to $2.00 range (July to November), EOS suddenly took off to the mid-teens, where it has ducked and dived it’s way between the $10 and $16 range for the majority of January.
HNW remains in a holding pattern on EOS.
HNW’s Recommendation: Stand back until there’s a return to the $3 to $5 range.
You want it, but you can’t have it.
The altcoin that touched $170 since it’s 9th December climb upwards from $36 has already rewarded those who stood in the shallow price waters of $20 to $50 from August through November.
At it’s current price of £139 it’s someone else’s baby until it drops back to earth.
HNW’s Recommendation: Buy at $25 to $50.
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