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Hakiza

Top cryptocurrencies to trade for short period.

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Hi Hakiza,

ryptocurrencies have been on the talk for a good time now, mainly because of the profits that they can bring you. Some investors seek gains after a short while, while others will prefer investing cryptos for a long time. Either way, the investors' main aim will be to make a good profit.

As you look to invest in cryptocurrencies for any period, you should go for the crypto best suited for that time frame. Another essential factor you should consider is your trading strategies.

Chainlink is growing so fast, but it is also one of the best short-term currencies you should consider investing in. Its inputs and outputs are reliable for challenging smart contracts on the blockchains. It has a decentralized network that facilitates the same data evaluation before it is activated and also maintains the entire value of the contract. 

Binance coin is also good for short term investment. Binance coin is its token, one of the reasons why it performs excellently. You use the Binance currency to pay for Binance fees; this coin will offer you a discount. It is one of the critical assets to implement contracts of the BNB exchanges.

Litecoin is another excellent crypto for short term investing. Bitcoin became famous for its technology upheaval.

Cosmos was created for solving various challenges in the cryptocurrency market. Some of the problems it seeks to solve are the usefulness of cryptos and how they adjust. It also aims to help the developers make and carry on their transactions easily and using many blockchains.

BitTorrent is also excellent for short term investing.

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Crypto Currency is new trading on the web and it is growing fast. Bitcoin is the best crypto currency and people have earn money a lot from bitcoin and other crypto.

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Bitcoin

After the halving event that took place this year, many expected a big rally from the world’s number 1 cryptocurrency, but it hasn’t happened yet. After touching the resistance of $10,000 in May, Bitcoin slumped to $8,600. Now it hovers around $9,400.

However, Bitcoin still looks promising. The COVID-19 and quantitative easing measures boost the cryptocurrency, making stocks and bonds look unappealing at the moment. BTC’s price right now is relatively low, making it an attractive buy.

The first phase of the long-awaited rally will be a sharp rise in BTC price, however, don’t hope for large returns right away. 

Chainlink

This digital currency is developing at an outstanding pace. ChainLink offers tamper-proof, safe inputs and outputs for your smart contracts to unleash their full potential, on any blockchain. Just connect with any API and make transactions with chainLink. Its decentralized nature lets you assess data before it turns to a trigger. It also maintains the value of smart contracts, providing constancy and security. It is certainly one of the best cryptocurrencies to invest in short-term. 

Ripple

Ripple is still dealing with the consequences of the 10 May crash, when all big coins collapsed.  Still, Bitcoin is doing well right now, and that’s good for XRP as well. 

Not long ago, Ripple rolled out On-Demand Liquidity – a solution that enables cross-border payments without pre-funding. Along with its new cloud payment network, Ripple took a step closer towards bringing cheap cross-border payments to business and financial organizations. These solutions make XRP look appealing as a short-to mid-term investment choice.

Hope that helped.

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Hi Hakiza, thanks for the question.

As Koby mentioned in his post, Chainlink looks like an interesting digital asset in the short-term. This is mostly due to the recent developments connected to the Chainlink platform, which has been placed on the list of the TOP 100 technology pioneers by the World Economic Forum (WEF). 

“Using smart contracts on the blockchain to bring enforceable guarantees to contractual obligations has widespread social and economic benefits. We’re proud to play a role in bringing accountability and automation to global and local economies, and we look forward to contributing to Forum dialogues on this challenge,” the company’s co-founder and boss of Smartcontract.com, Sergey Nazarov, said.

This award is given based on community standards, such as leadership, innovation, influence and the importance of the project. 

Separetely, new data from the crypto analytics platform Santiment show that the number of investors owning 0.1 – 10,000 LINK is currently at all-time highs. 

All these fundamental indicators point towards a likely move higher in the near future. Technically, the LINK/USD price is currently up 5% on the week as the buyers are testing the resistance near the $4.20 handle. The bulls used an opportunity presented to them by the sellers, who failed to force the price action to close lower on a weekly basis. As a result, the buyers were able to return the price action back above $4.00. 

This near-term positive development in the price action has now created a base to push higher. The buyers are now likely to target the $4.60 horizontal resistance next in the short-term. Of course, the entire crypto market is heavily dependent on what Bitcoin does next, hence that correlation should be monitored closely. 

Thank you for your trust and I hope you are satisfied with my assessment.

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Hi Hakiza,

Thank you for your question. 

If you are looking for more volatile digital coins than COMP is one of the tokens to look at. COMP is trading in a volatile manner since its rollout a few weeks ago. 

The token has been a popular subject over the past few days after it made a triple-figure rally since its rollout. COMP was listed at $80 when released, while the price action now trades comfortable above $200. The all-time high sits at above $370. Hence, the token gained more than 350% in value in just a few weeks. 

COMP is a governance token that’s provided to lenders free of charge. This way, new clients are attracted to the platform.

Coinbase, a major crypto exchange, announced that it listed COMP digital coin on its popular exchange. COMP  has been made available also on Coinbase's apps for iOS and Android. 

“Coinbase customers can now buy, sell, convert, send, receive or store COMP. COMP will be available for customers in all Coinbase-supported regions, with the exception of New York state,” Coinbase wrote in a blog post.

Interestingly, Coinbase has a history with Compound. It supported the project two years ago and it admitted that it still owns a certain amount of COMP tokens.

“Coinbase intends to maintain its investment in Compound for the foreseeable future and maintains internal policies that address the timing of permissible disposition of its digital assets, including COMP tokens.”

Looking in the short-term, COMP gained around 15% on Friday, before paring back a portion of these gains today to trade 10% in the red. Overall, as said initially, COMP is one of the most volatile digital coins in the past few weeks.

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I don't really believe in short-term investments. This is first of all very risky and you need to invest more and more money, as cryptocurrencies grow at different prices. One can fly at 700%, but the other can be priced for a whole year. I personally only believe in long term investments and so on. I don't see the point in investing with a short term. I invested on the Long Term, and I'm already an extra with a net profit. If you invest in a short term, first of all you need to be sure of the cryptocurrencies you are investing in, and this is more difficult. I'm for long Term !

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Posted (edited)

I don't really believe in short-term investments. This is first of all very risky and you need to invest more and more money, as cryptocurrencies grow at different prices. One can fly at 700%, but the other can be priced for a whole year. I personally only believe in long term investments and so on. I don't see the point in investing with a short term. I invested in the platform https://yuanpaygroup.com on the Long Term, and I'm already an extra with a net profit. If you invest in a short term, first of all you need to be sure of the cryptocurrencies you are investing in, and this is more difficult. I'm for long Term !

Edited by Allan Jones

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