Crypto Trader Outlines 5 Altcoins That Will ‘Outperform Bitcoin’ in the Next 12 Months
Nik Patel, an altcoin trader, is naming five crypto assets he expects to outperform Bitcoin in the next year.
Patel, the author of “An Altcoin Trader’s Handbook,” highlights their technical developments and offers “tongue-and-cheek” predictions for each, cautioning that in the volatile and risky crypto market, the likelihood that all of his predictions turn out to be true is extremely low.
Here’s an outline of his five picks.
Komodo (KMD) – working on providing end-to-end blockchain infrastructure development solutions
“…Komodo is on the breaking edge of use-cases in the space, having developed a decentralised exchange for atomic swaps (with a mobile app), an adaptable framework for blockchain development that is highly customisable (via Smart Chains) and, of course, privacy, by proxy through Piratechain (a native token to its ecosystem).”
It’s currently trading at $0.6966 — worth nearly $7,600 satoshis. Patel predicts it’ll be at roughly four times its current price by the end of the year.
NKN – a P2P network connectivity protocol and ecosystem powered by a “novel” public blockchain
“I am expecting the strength of the network to continue to grow as the service itself comes to the forefront in 2020.”
It’s currently trading at roughly $0.028, worth more than 300 satoshis. Patel expects that value to jump nearly five-fold relative to Bitcoin by 2021.
V-ID (VIDT) – a subsidiary of WIDIDI, designed to capture the market in file protection and validation
It’s currently trading at $0.086 – worth 935 satoshis. Patel expects it to jump to more than six times that figure in BTC.
“In October, as mentioned in the prior section, V-ID had revenues of ~$150,000; project this forward for 12 months and you have annual revenues of $1.8mn, which would mean that VIDT is currently trading at 1.44x revenues.”
Fantom (FTM) – a DAG-based smart contract platform that addresses the issue of scalability and the requirements for confirmation time on the blockchain.
“Regarding the use-cases of Fantom’s technology, the first point to make is that their novel Lachesis protocol improves transaction efficiency to above 300,000 tx/ps, which will facilitate its usage in smart cities, public utilities, banking, healthcare etc.”
Patel isn’t the first to make note of Fantom’s savy tech: Juan Villaverde, the architect of the Weiss Cryptocurrency Ratings, said FTM is “pioneering a novel way to reach consensus in a distributed network.”
Fantom is currently trading at roughly $0.014, worth some 152 satoshis. Patel thinks it’ll be worth four times that in 2020.
Constellation (DAG) – provides “infrastructure for an open decentralized data marketplace and an enterprise-grade software solution for data provenance and integrity.” It’s currently worth roughly $0.0227 – and it’s on the rise.
“Unlike other altcoins featured in this post, which are very much in the troughs of their respective bear cycles, Constellation has emerged from its depression phase and appears to now be in the optimism stage of the market cycle.”
Patel expects DAG’s price – currently worth nearly 250 satoshis – to triple in 2020.
Editor’s note: This is not investment advice. Investing in cryptocurrencies is highly risky and readers should always do their own research.
You can read the trader’s full analysis on the five coins here.