Street Talk: What are the Top Performing Cryptocurrencies?

November 12, 2017

By Adinah Brown

In this article we take to the “streets”, or rather the trading chat sites, to ask those on the coal face, i.e. the traders, what are the cryptocurrencies that they think show the most promise? By that we mean a return of 100% growth within the course of one year. This is what our respondents had to say.

David Mckinnon, Ireland, Blockchain enthusiast, 

I split my trades between Bitcoin, Vertcoin and Litecoin. In my opinion they are the three best performing cryptocurrencies with the strongest fundamentals and expect that they will become the crux of my portfolio over the course of 2018.

My distribution across these three coins, would vary anywhere between 50-70% on Bitcoin and the rest split fairly evenly between Vertcoin and Litecoin. Though, within the coming year I think that Vertcoin may experience the highest percentage gains, it still remains to be a riskier cryptocurrency than Litcoin, which in itself could double in value. I therefore place the bulk of my deposits on Bitcoin to moderate the risk.

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John Young, USA, Founder of a Google Plug-in and self-acclaimed Crypto nerd

After completing a simulation that applies a geometric Brownian motion on 15 separate cryptocurrencies. I’ve chosen to spread my trading portfolio across a few of the best performing.

At the risk of sounding overly typical, my first choice is with Bitcoin. The simulation results showed that we can be 95% sure that over the course of this coming year, Bitcoin prices will fall between $4,614, and $129,269, which leaves a mean of $41,238.

The smart contract cryptocurrency, Ethereum also showed promising results of a 95% certainty that its prices will fall between $40, and $3,004 with a mean of $829. However, more recently Ethereum has been more volatile as steps have been put in motion to change the structure of its blockchain towards a new consensus method. Any decision could have significant bearing on its perceived value.

Lastly, because of its wild volatility is OmiseGo. OmiseGo appears to be a number of things.

1. Decentralized exchange

2. Liquidity provider mechanism

3. Clearinghouse messaging network

4. Asset-backed blockchain gateway

It is not owned by any single entity, but rather hosts an open distributed network of validators which enforce behavior of all participants. For this token the simulator was practically useless with a variation between $33 and $1,030,718, leaving a mean of $480,414. Not something you’d really want to hang your hat on, OmiseGo’s volatility made Bitcoin look like nothing short of a government bond.

Raj Singh, Mumbai, Programmer  

I really like the way things are headed for IOTA. Converting the concept of IoT into a cryptocurrency, IOTA enables companies to explore new B2B frame works by making every technological resource a potential service to be traded on an open market, in real time, at no fee.  Currently, trading at $0.5 I think it is heavily undervalued and due to its underlying fundamental value, has great potential for growth.

That wraps up our review. Keep in mind that none of our respondents are financial advisers and these opinions are just humble, if not hopeful, opinions.

About the Author:

Adinah Brown is a professional writer who has worked in a wide range of industry settings, including corporate industry, government and non-government organizations. Within many of these positions, Adinah has provided skilled marketing and advertising services and is currently the Content Manager at Leverate.