We are definitely in an Altcoin Season right now. This time it is DeFi projects that got the most attention and profits and while some claim the coins of these projects are in a bubble, I still think that some of them (as Loopring) are enjoying justified growth without parabolic rise into dangerous heights as others.
I recommended 10 coins in total, in two different articles which you can read bellow:
- Top-5 Alts With Great Potential -19 Apr 2020
- TOP-5 Low Cap Coins - 10 Jun 2020
I explained my reasoning for investing in these coins and I understand that many altcoins have seen their prices skyrocket. I was expecting Bitcoin to take a break after the halvening and made a few positions before the halvening in April, and in June as I noticed Bitcoin's dominance was unable to grow further. Some altcoins were certainly going to pump, although this didn't happen to most of them and we didn't notice extreme performances as in 2017 and it was mostly DeFi projects that brought the most profits.
Lets see how my recommendations performed so far. First the top-5 from the April coins:
- Loopring (LRC): $0.135565 (recomended price: $0,.3), profit: 351.88%
- Decentraland (MANA): $0.0423 (recomended price: $0.029), profit: 45.86%
- Power LEDGER (POWR): $0.0985 (recomended price: $0.06), profit: 64.17%
- Monero (XMR): $69.56 (recomended price: $58), profit: 19.93%
- Ethereum (ETH): $237.99 (recommended price: $184), profit: 29.34%
Out of my early recommendations, it was only Loopring that kept rising during Jun-July and the rest have been stable since May, following the Bitcoin movement. I was expecting Ethereum 2.0 to be released this summer but it was delayed again and now it seems that Phase 0 of the ETH2.0 upgrade will probably have a release date close to the end of the year. This stalled Ethereum price from rising further and offered projects as Cardano to enjoy increased volumes after announcing the date of the Shelley upgrade release. MANA, POWR, and XMR along with ETH seem to be following Bitcoin for a while.
The latest recommendations I've made on June 10th were more speculative but offering low-capped coins that I noticed had potential and I'm invested for the long run. These include:
- Uptrennd (1UP): $0.005028 (recommended price: $0.003801), profit: 32.38%
- Cocos-BCX (COCOS): $0.000373 (recommended price: $0,000387), loss: 3.62%
- aelf (ELF): $0.105688 (recommended price: $$0.104592), profit: 1.05%
- Cartesi (CTSI): $0.045289 (recommended price: $0.03276), profit: 38,24%
- Elastos (ELA): $2,06 (recommended price: $1,85), profit: 11,35%
The price of Cocos decreased during the last 40 days since my recommendation by 3,62%. It didn't follow the altcoin season so far and while I'm disappointed I still think that this investment will pay-off at some point. As I explained I was expecting aelf to find major resistance at this level.
It is obvious that after Bitcoin stabilized in the 9-10K range it has been DeFi products that exploded in price. Compound, Balancer, Ren, Aave, and more products gained the most, although I feel that they are mostly a gamble especially after being pumped so much. I've made a review of TrustSwap a couple of days after it's release in Uniswap and price went up 400% since then. DeFi is the hype all the summer so far, but it is in bubble territory right now and I would recommend a cautious approach. The situation is similar to the ICO craze, although this time we don't see unlimited money pouring in.
Trustswap: Coingecko
I always suggest taking profits especially after huge growth but I also recommend keeping at least 50% of the coins as the market can go up really fast in no time. There is always a risk as the market is extremely volatile but after the halving in May, we haven't noticed something similar to the huge dips we usually observe.
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