BTC price once again has torn through resistance levels and with many October catalysts seems to be on the cusp of a bullish breakout. Could a bull run be on the horizon?
Market Analysis
The last 3 weeks saw TRIG, VIBE, and INS predicted prior to their Northern price trends and this week an underpriced gem, EVX, which will be analyzed alongside two top privacy coins: XMR and DASH.
Everyone is talking about the ETF (exchange-traded fund) when in reality it is a matter of when, not if, the fund occurs. However, the ETF will likely not be approved for months and there are plenty of more exciting events on the horizon for BTC 00 to help begin a full market bull run in the short term.
October sees the opening of BAKKT a crypto exchange founded by the owners of the NYSE (New York Stock Exchange). If mainstream adoption was to occur of crypto trading it would be the owners of the NYSE that would capitalize on it.
Having already created the platform ensured they followed SEC regulations, and with clout as the owners of one of the world’s largest stock exchanges (NYSE), it seems BAKKT will begin driving in professional traders with billions if not trillions into the crypto space.
BAKKT’s first product will be futures that require the underlying asset, bitcoin (i.e. have control of the private keys), to be held.
As more people buy and sell futures they are actually buying and holding the physical BTC. This removes BTC’s already minimal supply while the demand explodes rapidly as BAKKT drives new traders into the space.
Personally, I believe this will signal the next bull run in crypto markets.
With the next bull run signaled what underpriced gem is out there waiting to be found?
EVX – Everex
After doing extensive research in the space it becomes evident how truly hard it is to accomplish major exchange listings, regardless of the team, tech, and community. This is why targeting very low market cap coins on large exchanges can lead to the highest returns during the beginning of a bull market.
EVX is predominantly traded on Binance, but is also on Huobi and OKEx, a process that would take either millions of dollars or a community that is absolutely enormous to have accomplished. However, their market cap has fallen from an all-time high of $97 million and a per coin price of $5.87 to a market cap of $7 million and a coin price of 00.
The value of listings on Binance, Huobi and OKEx alone are worth more than their entire market cap.
Being on this number of top exchanges allows for a large liquidity pool providing the awareness and ability to be purchased and exchanged. However, what does EVX actually do?
EVX specializes in solutions that enable their customers to transfer, borrow, and trade in any fiat currency, anywhere in the world. The settlement times are below thirty seconds with the highest grade security and minimal transaction costs.
When the bull run begins the ability to remove fiat from the crypto market instantaneously, while also being able to lend it, convert it, and send it all make EVX a prime target for pre bull run accumulation. EVX has few competitors in the space that specialize in fiat to crypto converting, lending, and none anywhere near the low market cap of EVX.
The EVX token already has utility. It is required to access the advanced features within their platform. Loans paid back in time will be incentivized with EVX while also EVX works as a collateral source for those looking to borrow.
The smallest market cap cryptos with the highest utility during a bull run tend to pump first, making EVX a prime acquisition target. At under an $8 million dollar market cap while specializing in a highly sought after niche market will make EVX even more important once the market sentiment shifts, making it a prime acquisition target.
As Regulations Bite – XMR and DASH Become In Vogue
It is highly unlikely that XMR or DASH provide the returns that EVX and other small market capitalizations coins will return. However, both are cryptocurrencies that fluctuate in and out of the Top-10 list by market cap and have important features that will make them highly sought after in the coming months.
Countries are either banning or regulating cryptocurrency at a rate that has finally caught up to the curiosity the general public has about it. From big banks to nefarious individuals BTC and crypto have caught the attention of the world. Disrupting the financial system in the process. However, as this disruption continues — and those in power become more incentivized to either adopt, tax or ban entirely — privacy coins will likely gain a foothold either way.
If countries take the route of regulation those nefarious individuals will immediately choose to avoid taxes and likely seek privacy coins to do so. If individuals are in a country where crypto is banned than privacy coins allow one to transact privately. Either way, it seems privacy coins will become increasingly sought as government involvement in crypto increases in a positive or negative manner.
However, as top privacy coins, DASH and XMR couldn’t be more different.
Monero – XMR
XMR 00 is a privacy coin that was created in 2014 which focuses primarily on fungibility and decentralization. XMR uses an obfuscated public ledger to broadcast transactions. All this means is anyone can broadcast transactions but no outside observer can tell the source, amount or destination. XMR is known as a proof of work cryptocurrency that issues new coins to miners to secure and validate transactions.
Why XMR remains so relevant is they have maintained ASIC resistance through what has been almost a constant round of forks. They have a dedicated core group of community developers that are making sure XMR stays a decentralized as possible and away from ASICs.
Their privacy functionality is also top notch. XMR uses ring signatures that mix the spender’s input with others making it very difficult to establish any link between each subsequent transaction. This coupled with stealth addresses make it impossible for any outsider to see the actual transaction amount, sender or receiver.
That long list contains all the pros about XMR and why it is likely to appreciate based on its technology and the government influence, positive or negative in crypto. The one main con is it is likely over-priced. As the top name in “privacy” in crypto, they have the strongest branding and the strongest branding also comes with the highest associated cost.
Their developers, tech, ASIC resistance, and longevity make them a great privacy coin. However, being a top cryptocurrency already, they have many competitors with what eventually may be superior technology.
DASH
Dash 00 is a cryptocurrency that has the ability the be transacted privately. However, what makes DASH unique is not its privacy features but its masternode functionality.
DASH masternodes require 1,000 DASH at a price of $188. That means each masternode is $188,000 to set up and returns approximately 7% annually. However, owning a masternode allows you to vote and using the submission system to create proposals to be voted on by the masternode community.
This is how DASH came to sponsor so many events this year. The masternodes voted to make it happen. Masternodes are a way of having the equivalent of a saving’s account of your own currency with decision-making authority within the community.
DASH has the most popular governance system through its masternodes and the platform works great. DASH has also made inroad with many niche markets such as dispensaries in the United States and legal businesses that are less likely to seek traditional banking.
The cons to DASH, however, do still exist and are very few. The cost of a masternode is almost $200,000 placing it out of reach for most individuals. How decentralized is a platform if a vote costs $200,000 to make?
The second issue is the masternodes are only returning 7%. Many new masternode coins from the prior year have returns well in excess of 20% with some in the 100s of a percent yearly ROI. These two things are DASH’s cons but their benefits greatly outweigh their cons if you can afford their $200,000 masternode.
Closing Thoughts
Small market cap coins like EVX, which specialize in niches that will be greatly needed during the bull-run, should have the most exponential short-term gains. The time to accumulate is not once the pump has occurred but by anticipating it and understanding what niches excel in specific markets.
EVX is an acquisition target, especially while the market cap remains under $10 million, having previously been valued at almost $100 million.
Dash and XMR lead the privacy scene and both have completely different pros and cons. During the upcoming bull-run, each investor should have a plethora of coins to remain diversified and privacy coins should fit that profile.
If you have enough for a DASH masternode, see if you enjoy their proposal system and annual return. If complete anonymity is your thing along with ASIC resistance and the best branding, XMR is your answer for a Top 10 cryptocurrency.
[Disclaimer: The views expressed in this article are the personal opinion of the author and do not reflect the views of Bitcoinist. The information in the article should not be taken as financial advice.]
To read the King’s prior articles, to find out which ICOs he currently recommends, or to get in contact directly with the King, you can on Twitter (@JbtheCryptoKing) or Reddit (ICO updates and Daily Reports). The Crypto King is the founder of ANON and does actively trade cryptocurrencies.
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by JakeTheCryptoKing via Bitcoinist.com
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