I came across this awesome contest by @tonyr thanks to
@immarojas and it was unfortunate that I missed out on the first round. Well, as they say it's better late than never, so here goes my entry for Round 2.
| Coin | Units | Bitcoin Invested |
|---|---|---|
| Ethereum (ETH) | 7.0838 ETH | 0.3 BTC |
| Ripple (XRP) | 22,668.3938 XRP | 0.7 BTC |
| Total | 1 BTC |
Analysis
- Ethereum (ETH) - As Ethereum is approaching it's final stage for the major hardfork which changes it's algorithm from Proof-of-Work to Proof-of-Stake, investors are rallying support and accumulating these coins while it's cheaper. Cheaper in the perspective of BTC-ETH market but if we look at ETH-USD to sense it's real value to fiat, Ethereum actually have gained traction as it is now back to over $300 USD. Interestingly BTC is now recovering and not just recovering but sprinting to a target of $10,000 USD perhaps. This blazing rise of BTC will soon be a subject to market correction during the weekends which historically would slow down. The effect then is for alts to recover including Ethereum.
- Ripple (XRP) - A recent announcement on Ripple partnering with AMEX made ripple an eye-candy for a short to medium term gain. Utility value increases for Ripple and if the news is substantiated with positive ground work for both AMEX and Ripple, we could see huge gains over the next few days here.
Disclaimer
Trade at your own risk. The above analysis is my own view and I take no responsibility of your trading behavior. It is best to do your own research and analysis. Take my points lightly :)
To find out how to join this contest please read the post here.