Today we've experienced one of if not the biggest dip I've experienced during the time I've been involved with crypto. Days like this, however, don't scare me away, they make me anxious to go shopping.
Unfortunately, I'm not in a position to invest any more fiat into the market right now, but I find it funny to look at all the red and decide where I'd put my money if I had it to invest right now.
Before we get going, I want to make it clear that there are a lot of great coins out there on sale right now. This is probably a great time to buy just about anything. I'm looking for a coin that was already on my radar before this dip. I'm not simply looking for the deepest discount. If it's a coin I've never heard of or cared for, I'm not going to buy it just because it's on sale. That being said, of the coins I like and believe in, I do want to get the most bang for my buck.
All of these coins are greatly discounted from their all-time high. Most coins, once they've proven they can reach a high will eventually come around and test it again. If you are lucky it will surpass it.
To begin with, I'd divide the investment into 4 stacks of $250. My goal would be to turn each of those stacks into $1250 by this time next year. Turning our $1,000 into $5,000. At this rate, I feel I would be out performing BTC. Bitcoin is very cheap right now, but I don't see it going 5x this year. That would put it at a value of over $50,000. I really expect BTC to top out between $25,000 and $35,000 by the year's end. Therefore, if we can manage to do better then 3.5x for the year, we should out perform the King of Crypto. Otherwise we've destroyed wealth. Even if we went 2x we doubled our investment, but I'm sure BTC will out perform that and we should have just left our investment in Bitcoin.
Without any further rambling... Here's my list in no particular order.
#1 Tronix (TRX) - This is sort of the 'cool' pick of the list. Tron's CEO, Justin Sun, really knows how to hype his coin, and we all know how this market thrives on hype and rumor. That along with the fact that they've been bringing on so many employees from Alibaba and Alibaba has announced that they intend to enter the Crypto market. I just feel it's only a matter of time until this coin really takes off. TRX is currently ranked #14 by market cap, and I really feel it could easily be a top 10 coin.
Tron is currently trading at $0.05 (471 Satoshi). On January 5 it hit $0.30. If it were to just return to it's former high, it would be a 6x return.
#2 SiaCoin (SC) - This is a bit of an emotional pick for me. I've long been a fan of SC. Sia is a crypto based solution to cloud storage. As you all know, cloud storage is a huge industry. SC isn't the only coin that is trying to address cloud storage, but they are one of the oldest in that niche, and have proven they have a solid team and staying power. Additionally, according to their public roadmap, they are expecting to release their basic file sharing platform in Q1 of 2018. I've long felt Sia was an undervalued coin, but I could see this product release launching it into a top 20 coin by market cap.
SC is currently trading at $0.037 (324 Satoshi). It's all time high was on January 6th when it hit $0.11. If it just returned to it's ATH it would be about a 3x gain. However, I really believe that once their working platform launches, this coin could easily go to $0.25 by the year's end. If this were to happen, we'd be looking at a 6.75x gain.
#3 DentaCoin (DCN) - DentaCoin is aiming to bring the dental industry to the blockchain. Everyone in the world needs good dental care and DCN plans on making it accessable for them. This is a pretty new coin that has worked it's way up the charts pretty quickly which has lead many to question whether or not it was overvalued for such a new project. I became interested in this coin early on and have been following them on social media. I'm telling you, these guys may be new to the block(chain), but they are progressing quickly. It seems every other day, they are tweeting about a new dental chain that has signed on to accept DCN. I really expect this project to continue to gain momentum and become a top 30 coin in 2018.
At a current price of $0.001 (13 Satoshi), I'm very interested in getting in on this project. If it simply returns to it's ATH of $0.008, it will be an 8x gain! Based on how quickly this project has progressed over the last year, and looking at their plans for this year, I wouldn't be surprised at all if this coin went 10x over the year and hit a value of one cent.
#4 NXT - This is kind of the wildcard pick for me. I admittedly don't know a whole lot about NXT. I know it has been in the market place for a while now, and have always heard it referred to at the Ethereum of Japan, much like NEO is the Ethereum of China. I've had it on watch in my Blockfolio for as long as I've been in Crypto, but have never researched it in depth. That being said, I feel comfortable with it's staying power and it's ability to recover from this dip.
NXT is currently trading at $0.28 (2477 Satoshi). This coin hit it's all time high of $2.16 back on December 23. If it returned to this price it would be 7.7x gain. Before I actually invested my money here, I would look in to why it peaked just before Christmas and has been on a decline since. As long as there was nothing of great concern there, I would confidently move into this coin.
And there you have it! That's how I'd invest $1,000 in today's sale. It's going to be really fun to come back and review these picks as the year progresses. If each coin just returns to it's ATH we should be sitting at $6,171 from our $1,000 investment in just a year. If these coins reach the new highs I think they are capable of, we could be sitting at something closer to $12,000.
As always, I am not a Financial Advisor. This article is intended for educational purposes only. Never invest money you can't afford to lose
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