After heavy bearish sentiment that saw Bitcoin (BTC) test $3200, things are looking up and Bitcoin seems to have found a bottom. Its recent pumps have pushed it higher to around $3900, which is now a key support level, and volumes are on the rise. If this trend continues, then this could be a perfect time to take positions in high potential altcoins.
So far, altcoins have shown that, if Bitcoin gains, they could gain by a higher margin, and high utility altcoins are gainin by even higher margins. Under these conditions, 2 altcoins that are worth keeping an eye on in 2019 are IOTA (MIOTA) and Zcash (ZEC).
IOTA (MIOTA)’s price action all through December is quite an interesting one. That’s because every time Bitcoin has pumped, IOTA (MIOTA) has gained by twice the percentage. Even in today’s pump, IOTA (MIOTA) is one of the biggest gainers of the major cryptos. This is an indicator that in a full blown bull market, IOTA could emerge as one of the best performing altcoins. There are a number of factors that support such growth. The first one is that, it has lost a huge chunk of its value in 2018, yet its fundamentals have only grown stronger.
At one point, IOTA (MIOTA) was trading at over $5. Today it is oscillating at around $0.30, making it a pale shadow of its 2017 prices. Interestingly, 2018 has been the year when IOTA (MIOTA) has gained and deepened partnerships with the auto industry. It is also the year when IOTA (MIOTA) has made forays in manufacturing through its partnership with Fujitsu. These are just a few of the big partnerships that IOTA (MIOTA) has bagged in 2018. From the technical side of things, IOTA (MIOTA) has worked on the wallet, and is now working on a move to full decentralization. These fundamentals make it extremely undervalued, and could push to new heights if Bitcoin (BTC) continues to rise.
Zcash (ZEC) is another alt that has shown that if bullish momentum sustains, it could rise pretty fast. In all the recent pumps, its rise has been higher than average. There are a number of factors that give Zcash (ZEC) the potential to keep rising going into 2019. Like IOTA (MIOTA), Zcash (ZEC) has taken a major hit in 2018, dropping from highs of over $800 to under $70.
This is in spite of the fact that its privacy capabilities keep getting better. So good is Zcash that it is used by major institutions like JP Morgan in its Quorum platform. Zcash also has the option to send money to non-private addresses. This makes it safe from harsh regulations, even as it maintains its positions as one of the top privacy coins in the market. These factors could see Zcash (ZEC) become a darling of investors in 2019, and a buildup of buying pressure could easily see Zcash (ZEC) test new highs within a very short-time. If recent percentage gains are anything to go by, Zcash (ZEC) can easily hit $1000 within a few months.