Is this the bull trap which is going to be followed by another crash? Most likely not. Bitcoin BIP 91 has activated and the market seems healthy. The last cryptocurrency crash happened unexpectedly to many investors and as plan of many was to wait until few days before 1st of August to buy coins in discount, the plans have been ruined with the recent market resurrection. Therefore, I put together a list of top 50 coins by market cap and made a comparison with historical prices.
June 6th - Bitcoin chasing $3000
On June 6th, Bitcoin was chasing value of $3000, the market was optimistic and full of hopes. Therefore, this is the first date to compare prices with actual prices. I am going to interpret the charts from my perspective, but feel free to give your opinions in the comments below. Higher the negative percentage, higher the change the coin will bloom again and provide nice profits:
I am not going to comment on the coins themselves, rather give some comment of what to be aware of. First of all, I would advise to ignore recent ICOs, as their price and future is unpredictable. This is due to the ICO hype of the last month, when large amount of money was invested into new projects with basically no backing of the product itself. Rather, choose coins, which have your trust and if you have already invested in these and you are in deep red, this is a great time to reinvest in these again, as these are a bargain in the moment.
July 14th - few days before the last crash
This is one of the ways how to look into potential investment, this is rather for longer holding of the coins, for shorter gains, it is healthier to check the prices before and during the crash, to see, which coins have not recovered yet:
As short-term gains are always riskier than long term holding, be cautious in which coin you want to put your money into. You can shoot to the moon, but you can also loose most of your value. When you invest short term, use Stop Loss strategy in the minimum. I would strongly advise to not put money into coin in which you do not believe yourself. Take this as a lead to do more research. This will cut your time to investigate coins, which have already recovered and you can only research coins with the highest theoretical potential to grow again.
July 16th - The crash of the crypto market
The last comparison is with the recent market crash on the 16th of July. Many of us have probably missed this entry point into the market so we can at least see, which coins are still waiting for the recovery and also provide easy potential gain:
As we can see, most of the coins are already rising from the last crash, but we can still pick up some great coins for quick gains. Do your own research and invest your money carefully. This comparison is here to help you to pick the highest potential coins and it is all up to you in which way you want to go. If you believe your coin and all the three columns are in green and slightly rising, go for it!
And how am I going to use this sheet for myself? I have already done my research, I know which coins I want to invest, but I was waiting for the expected crash before the 1st of August and missed it. This doesn’t mean, that I (or we) missed much. Have you guys bought coins during the June hype? This is great time to re-buy the coins and to reinforce your profits. Buy coins which you believe in and you will do great!