Bitcoin is still in high demand, especially among the smaller nations that face adverse economic conditions. At the same time, it is possible that the UK’s pound might end up losing a lot of its value if Brexit happens without a deal. Because of this, many investors are thinking about cryptocurrencies and it is expected that 2019 will actually be a good idea for the crypto market.
There are numerous geopolitical tensions that now increase digital currency demand. While with BTC there are huge problems that could appear, smart investors have to focus on other currencies to minimize risks. This is why we should talk about some cryptocurrencies that are performing much better than others. These might be the ones that you want to put some money in.
Binance is performing really well at the moment, especially after Binance Jersey was announced. This is a fiat-to-crypto exchange that will service European and UK customers. Binance is trying to take advantage of the Brexit situation, giving diversity for investors. Binance will next try to break out to start an uptrend. The goal is to go as high as $15 in value, with under $7 being the current value. Minor resistance is expected at $12. However, it is important to keep a close eye on the evolution of the Binance coin since it is possible that the currency goes under $5 if breakout fails.
Cardano (ADA) has a couple of interesting events coming up in the near future. These are Project Shelly and Daedalus. The evolution of these two can dictate the evolution of ADA and if they are successful, value can definitely go up.
ADA/USD showed a long downtrend but the range has been constant for the past 9 months. Downtrend might resume if the new projects are not successful so it is important to focus on evolution. Upside potential is really high though.
IOTA recently announced collaborations that could lead to a good growth. Breakout failed for 4 weeks, with bears pushing prices back. Lower levels attract buying. In the event the currency will rise, breakout will be attempted at around the $0.40 point. If this succeeds, the rally can go up to a value of $0.6, then, following resistance, the probable growth is up to $0.81.
If bears do not force turnaround, the drop can be up to $0.20.
Always be careful when investing in cryptocurrencies. The information above should not be taken as investment advice!