Like most people in the crypto market, I have the habit of monitoring and tracking the price movements and important news around a good number of digital assets in the market. There is no doubt that the much anticipated bull market is now upon us. Spearheaded by a breathtaking Bitcoin rally in late 2020, we are already starting to see an upward trend in price of many digital assets.
In the past few days, we have witnessed with great surprise how DOT flipped XRP to become the 4th largest crypto by market capitalization. And many more seemingly unknown coins will rise to prominence in the days ahead. I tell you, many more surprises to come.
The bull trend this time around, in my opinion, appears to be selective. While some tokens are rallying incredibly, some others remain largely lacklustre and weak. But since the cryptocurrency market is largely driven by speculation, we can expect that these coins will wake up very soon. In this short article, I look at some of the most undervalued altcoins based on the prevalent market situation.
1. Bitcoin Cash (BCH)
Presently trading below $500 per coin, BCH is still 6 times lower than its all-time high price. Having experienced a turbulent hard fork (led by one of the leading developers on the platform) a few months ago to birth BCHA, the coin is still struggling to recover and gain the confidence of investors.
It is very likely that the sentiments around BCH will become very bullish again since it is a well-known rival of some of the most well-known coins such as Bitcoin, Litecoin, Ethereum, etc.
2. Ripple (XRP)
As you probably know, Ripple is facing a virulent SEC lawsuit for allegedly participating in the unlawful sales of unregistered security token, an event that has battered the sentiments around the token. Little wonder the coin slumped from a peak 50 cents below 20 cents.
Now trading at 28 cents, XRP is very much undervalued at the moment. If Ripple ends up winning the legal battle unleashed upon it by SEC, the price of the token will likely soar. And even if it losses and pays the required fines, the coin still has a chance to thrive.
3. Hive
Hive is another incredibly undervalued token at the moment. Dubbed the most decentralized blockchain-based social media platform in the world and home to some of the most widely used Dapps, Hive should be trading above 30 or more cents by now. If the break out in price goes above 15 cents, then it will take a shorter waiting time before Hive realizes its potentials.
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With the many uses Hive has, is incredible that it didn't raise the price.
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It might require some patience. It'll ultimately rise.
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Agree for 2 and 3.
For BCH I might just lack some knowledge about it, I've never seen it like a contender for any coin.
I'll need to read more on BCH.
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Its a shit coin... check out genuience project like Decred, its a alternative to Bitcoin!! I can share article on it, go to coinbreifing and search for decred, there is explanation.
Stay away from BCH...yeeks!!
Thanks for the tip, I'll go and read some info there
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Thanks for stopping by.
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I doubt that Ripple will win the lawsuit, best they can do is carry their business to somewhere else which I guess they plan on doing, in a news I read recently, I think they said Dubai or something. So if this move is successful, xrp might just recover its position
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I definitely share your sentiments here. If it survives, it will rise again.
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I disagree. Your a follower of Crypto Lark and he mentioned, Bitcoin forks like BCH that is actually a shit coin, don't have any potential. There is wash trading involved in BCH, no development activity and it's inferior compared to Bitcoin.
Nah...
Ripple... Although it has a real use case, its in trouble and the law suit will take years to settle. Now, investors and exchanges have thrown that coin off their portfolio. Grayscale even deleted the XRP fund... now XRP definitely not going to soar. Besides, its quite centralised for sure.
HIVE...hmmm. I agree it may be undervalued(: ... definitely LEO token given the platform prominance with WLEO entered DEFI, but since its not picking up the price, there is a huge resistance, we are losing patience.
But its ok...it should pick up while crypto price flood comes to some extent atleast.
BCH is definitely out...
My picks well... I don't know.
But ETH, is undervalued for sure, its going to explode, I don't know why you did not notice this amazing coin whose market capitalisation is top 100 in the world now(:
LTC yes... but several coins we don't know with use cases do well... VET, I believe Decred is a alternate to BItcoin. But all have gone up.
DOT, COSMOS, ADA, DCR, lINK, COMP, AAVE have done well, and they were in my portfolio before this price rise(: ... venture beyond these top 10 cryptos my friend, many potential crypto projects are there.
Why check out Elrold, recommended by crypto lark, although I don't know anything about it. Energy too... is a precious project for sustainable eletric power stuff.
Anyway.
Thanks for sharing your thoughts in this long posts. It is worth reading. Even though I am a follower of Lark Davis, that does not stop me from looking at the market from an independent mind, sometimes. You can't objectively call a token that has remained in the top 10 for years as a shitcoin. I mean BCH. For several months, LTC appeared to be dead but look at it now.
I do not disagree much with your position with XRP. If anyone thinks the coin will die, he or she is just kidding. The exception will be if and when, which is very unlikely, the court rules that the token should be delisted.
Good to see you around, friend.
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