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26th January 2018 – In today’s Who’s Up? Who’s Down? we look at 808Coin’s unlikely ascent, the long play option for RefToken and the blazing red warning lights shining on Qbic and Confido.
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Now let’s get on with it:
UP In The Last 24 Hours…
RefToken (REF) | Up 665%
Current Price: $33.70
RefToken, the cyrptocurrency based on connecting blockchain app developers with the brands and marketeers that can make these projects go mainstream, has skyrocketed from yesterday’s $4.00 to $6.00 range up to a peak of almost $80 as of this morning, before falling back down into the $30 to $40 space.
That said, the trend is now slowly declining from the mid-tier peak of growth. HNW expects a big drop going forward, and a few dead cat bounces along the way before this one crashes back to earth.
But it’s not all bad news. RefToken is an interesting market-centric launch platform that will likely grow in value and price over the course of 2018.
As such we’ll wait for a more reasonable price point before recommending a buy.
HNW’s Recommendation: It’s tough to put value on a coin that’s only been trading since 20th January of 2018. However, the safest buy-in range would be $4.00 to $6.00. For the more adventurous amongst you a price point between $10 and $12 wouldn’t ring any crazy bells. Then again if your parents named you “Maverick” or “Dani California” then grab it when it hits $25 to $30 and sell out when it spikes at $75. You can buy RefToken at Binance.
808Coin (808) | Up 257%
Current Price: $0.00056
Not many folks will know that there’s a thing called an 808Coin, nor that it’s the altcoin poster child for one of the first programmable drum machines: The Roland TR-808 Rhythm Composer.
(Yeah, I didn’t expect that either.)
And few if anyone expected the meteoric price dash that has seen peaks of $0.0027 twice in the past year – once in September 2017 and the more recent spike in early January.
Now, that price point might not sound very high to you (or me), but the position of the decimal point is critical here.
808Coin has shown two massive gains; the first in September left a nice candle trail in its wake instead of the usual straight-up-straight-down you see when some is messing about with the price in order to lure in the unsuspecting fish who are just trying to hitch a ride, and the second is still upon us.
HNW is willing to wager that we actually have a decent buy-in price point right now. And that’s an unusual conclusion for a crypto based on a drum machine – one has to wonder what market problem this one is going to fix long-term, but you never can tell.
HNW’s Recommendation: Consider a 5% or less stake of your overall crypto float in 808Coin for a gambit. You can pick this coin up at Binance.
Confido (CFD) | Up 160%
Current Price $0.33
It’s more than a bit of a mystery how a coin widely reported as having (allegedly) pulled a $375,000 initial coin offering (ICO) scam by lying to investors and then disappearing with the money, can suddenly appear as a 160% riser over the last 24 hours on coinranking.com and coinmarketcap.com.
Are you confused? We are.
Now, from a current price action perspective you could easily call this one an interesting gambit based on the period 6th January to about 17th January, where we saw a consistent doubling of the current price before a plunge back into the $0.10 to $0.20 range.
But until there’s a bit more solid and very public clarity about what’s going on with this coin and its owners, please consider a dog with fleas
HNW’s Recommendation: One for the stupid. Don’t buy it anywhere.
DOWN In The Last 24 Hours…
Qbic (QBIC) | Down 38%
Current Price $18.90
It’s described as a “money project.”
Qbic coin is trying to make instant, private payments online or in-store by using a secure open source platform hosted all over the world into a real possibility.
Dream big, right?
As near as anyone can tell, Qbic arrived about 14 seconds ago (call it a day or so), vaulted from $0 to $27 per coin, and has since executed a slow and excruciating downward slide in the last 24 hours that will likely hit the $15 mark before delivering a sudden waterfall decline back down to the $1.00 to $3.00 range.
HNW Recommendation: Sell now and run. Or gamble like you’re an idiot on a 4am Las Vegas coke-binge and buy now 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.
GIVE ME MORE: Check out HNW’s Daily Crypto Top 10 where 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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