There are about 1,500 digital coins in the market and each of them is offering something unique to its users. From large scale coins like bitcoin to privacy coins like Zcash and Monero, the selection is large and growing at an unprecedented pace. Even though regulatory oversight is becoming tighter, hardcore crypto fans are assured that the currency will take off soon.
In the midst of this debate, Ran Neu-Ner from Onchain Capital who hosts ‘Crypto Trader’ on CNBC Africa, offered a few tips to traders on ‘Fast Money’. Apart from his investment advice, he also detailed the coins that he likes the most and the ones that he doesn’t believe in too much. Here is his list of coins.
Bitcoin
As one of the earlier investors in the native cryptocurrency, Neu-Ner said that he believes in Bitcoin but adviser investors to sell. He said, “I like bitcoin. [But it’s] priced too low. It’s going to continue to go up, slowly and in a stable way. But there are more exciting cryptocurrencies out there.”
It is important to note that the coin was valued at $19,500 at its peak in December 2017. However, since then, it has shaved off more than half of its gains. On Thursday evening, it was trading at around $8,100. There are many other traders who have predicted that the coin could easily reach $25,000 mark by the end of this year. Some other liberal estimates at putting the value up at $40,000 to $60,000. They are also suggesting that people HODL the coins instead of selling them for quick profits.
Bitcoin Cash
He believes that Bitcoin Cash is an interesting option. It is a nice amped up version of bitcoin that could solve many problems that the bitcoin core blockchain faces. On Thursday, it was priced at $1,200, making it easier for users to hold larger quantities. Though the prices have fallen by $100 since Tuesday, it is still in a better position than a month ago, when it was priced at $763. Neu-Ner said that there is a lot of potential in the coin.
Ethereum
Neu-Ner sees a lot of potential in Ethereum and suggests investors hold on to this coin ‘for sure’. He called the developers ‘the smartest people in the room’ suggesting that the potential use cases of this currency are many and even the ethereum blockchain is doing wonders by allowing others to create apps, blockchains, and their own ERC20 tokens. As it has one of the biggest communities in the industry, it is arguably an important and exciting coin. Nonetheless, it is the second largest coin by market capitalization.
He said that he is quite interested in ethereum and noted, “I’m excited about a new generation of protocols like ethereum.” Some of his top picks include Thunder Token, Zilliqa, and Oasis.
Though ethereum has some downsides too. He commented, “Ethereum has scalability issues. They’re doing 15 transactions per second. That means that’s not real-world stuff. But some of the other blockchains are resolving this. They’re promising 10,000 transactions per second.”
Ripple
He asked users to sell and said, “I’m throwing it in the garbage,” pointing out that while Ripple is one of the best companies out there, their token is not. He added, “I can’t find a use case for the token,” one of its primary problems being its centralization.
As he makes these comments, crypto markets are getting ready for new G20 regulations.
