Altcoin Trading Championship Round 3 Entry
I came across this awesome contest by @tonyr thanks to @immarojas and this is my entry for Round 3.
| Coin | Units | Buy Price | Bitcoin Invested |
|---|---|---|---|
| Lisk (LSK) | 430.8859 LSK | 0.00116040 | 0.5 BTC |
| Ethereum (ETH) | 6.9553 ETH | 0.04313250 | 0.3 BTC |
| Ripple (XRP) | 7,027.4068 XRP | 0.00002846 | 0.2 BTC |
| Total | 1 BTC |
Analysis
My Round 2 entry gave me a positive return of 0.04 BTC as Bitcoin went on (expectedly) to a dip during the weekend. Ethereum gained positive grounds vs BTC unfortunately XRP was struggling to get up last weekend mainly because (IMO) traders took their profits at around 0.000029-0.000030 this is bad for short term trading on XRP but I'm hoping as banks go on normal business hours this week, investors will pour in money to Ripple (XRP).
For this round, I'm keeping my ethereum and ripple investments and together with Lisk. Now Lisk is a new coin to be reckoned with. It has a lot of high hopes with a fairly new development team and normally this coin stays stable during bitcoin's rally. We will be expecting BTC to test that $8,000 zone during the weekdays... Alts tighten up your seatbelt!
Disclaimer
Trade at your own risk. The above analysis is my own view and I take no responsibility of your trading behavior. It is best to do your own research and analysis. Take my points lightly :)
To find out how to join this contest please read the post here.