So currently, we’re sitting at extreme fear on the Fear and Greed index, and that only means one thing: everyone’s afraid and no one knows what’s going to happen in the future. So it’s times like this where I like to follow the wise words of Mr. Buffett himself:
‘Be fearful when others are greedy and be greedy when others are fearful’.
Unfortunately for you, crypto is still in a bear market, but I honestly think this is a really good thing in the long run. Having ups and downs is very healthy in a market cycle when prices are low, like what we’re seeing right now. This is when you want to be doing as much research as possible to find projects that are undervalued and ride them to the top. Luckily for you, I’ve done that research for you today. As always, do your own research first because this is not financial advice.
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So, things are ugly in the market right now and they won’t be like this forever, so I don’t want you to regret not getting in at these killer prices, so pause that Netflix, open up CoinMarketCap and let’s go make some money.
I’m going to go over my top three cryptos that you should be considering for the month of May, so without further ado, let’s hop in. Also, in my reviews, I like to dive deeper into the fundamental analysis surrounding the project. It’s use cases, it’s traction because I believe it’s more beneficial for you in the long run as opposed to technical analysis.
The first coin I have for you today is the Theta coin. The Theta coin currently sits at number 41 on the CoinMarketCap and is a really cool coin because it could honestly be the downfall of companies like Netflix and Twitch.
Many people are going as far as calling it a Netflix killer. Unless you’ve been living under a rock and missed it, Netflix’s stock fell off a cliff last week, dropping 35% in one day after they reported their subscriber count declining in the last quarter. Experts are saying that this could happen industry wide, so we’re talking Disney Plus, Hulu, and Peacock all losing subscribers with these huge web companies possibly plateauing and user growth web of three companies like Theta could be able to disrupt the industry and fix a lot of the problems that it faces today. If you go to Theta’s whitepaper, they describe themselves as software that seeks to incentivize computers to operate on a decentralized video streaming platform. Basically, you can think of it as a decentralized YouTube or Twitch. It’s the software that’s going to power the web’s three streaming services.
If you’re unfamiliar with what Web2 or Web3 is, Web2 is basically these centralized companies that profit from users like me and you interacting on the platform and selling our information to advertisers and not giving us any of the money that they make, which is weird because without us, they wouldn’t even have anything.
Web3, on the other hand, is this revolution that cuts out these big companies and makes platforms decentralized. That is, no single person or company has complete control over everything, and people are rewarded for interacting on the platform. You can think of it like this: you’re scrolling on Instagram and you see an ad for sunglasses. You click it and you buy it. If this was Web3, Instagram would give you a cut of that ad revenue that they just made now. Web 3 is cutting out these companies, making things decentralized and creating networks on computers across the world that are open source instead of what we have today, which is centralized servers that none of us know anything about. I don’t know about you, but I’d love a cut of all the money that these multi-billion dollar companies are making off of me.
So how this decentralized streaming service would work is that all these companies that are plugged into the network would be providing users the bandwidth to stream videos. If your computer has extra bandwidth, you can actually share your band with other people and get paid for it. You can also get paid by advertisers if you watch videos with their ads in them. If all this sounds cool to you, it’s not even the craziest part. They have Steve Chen, the co-founder of YouTube, is an extremely heavy hitter who understands streaming very well on the team and not only that. They also have Justin Ken, the co-founder of Twitch, on their team as well. I mean, come on, if this company doesn’t succeed with these people on the team, I don’t know what will.
Looking at the technical analysis for Theta, these guys created some of the biggest companies in the world and when you have this type of expertise guiding you, it’s kind of hard to mess up all right.
Currently, it’s trading around $2.80, very close to $2.80. Currently I’m on the four-hour chart. As you can see over here, we’re in strong cell territory and the main reason is that the whole market is pretty much down this week. Things are down almost 10% to 20% on the week, so I’m not surprised as to why the price is down over here. Like I said, this is more of a long-term play for me.
If we go over here to the all-time chart, Theta’s all-time high was back, about close to $16. Now it is trading far below its all-time high.
Another thing we can look at is that, for some reason, Theta is not listed on Coinbase. I’m sure we all know that Coinbase lists the top coins, but I mean, not anymore. They pretty much list anything at this point, but with Theta being such a big coin and having been around for a really long time, I’m surprised why Coinbase is not supporting Theta. So once they support it, it’s a done deal. I’m pretty sure they will at some point in the future. We’re going to see another run up in his price, but I honestly think $14-$15 is easily attainable.
All right, coming up for the second coin, we have the Filecoin. Filecoin currently sits at number 35 on the coin market cap, so it’s pretty high up there with a market cap of $3.4 billion. What’s cool about Filecoin is that it’s the Web3 way companies and individuals like you and me will be able to store files in the future. This was all started by one Stanford grad, which I find kind of weird how all the top crypto projects are started in Ivy League Schools, but who am I to complain? He saw today’s internet as way too centralized. Everything you interact with today is sort of on centralized servers that can have power outages or just shut down anytime they want. I mean, think about it. If YouTube or Netflix goes offline, you have no videos to watch.
We’ve seen this happen time and time again with Instagram: there are always glitches, DMs not working, apps crashing, features just disappearing, but if we had a peer-to-peer system like what Filecoin is offering, that would never happen. There would be no crashes, and you might be thinking to yourself as ‘Okay, I get why a centralized web is bad’. You know, it can be shut down, leaving us with nothing. So why are we still using a centralized mode?
It can be controlled and censored by the government. It can do sneaky stuff by collecting your information. So why are we still using a centralized mode? The answer is simple: centralized servers give companies control over things like the speed of the internet, so they can make sure it’s loading instantly. They can also control the quality of the content to make sure it’s really good quality, so something like 4k. Today, there just really isn’t a better or faster alternative, but that might be changing soon.
Filecoin built their blockchain on top of something called IPFS (the interplanetary file system). This is basically the idea that in the future, when humans are on other planets, they can send data back and forth, but for today, it means anyone in the world can send and receive data easily. When someone needs files stored in the cloud but not on their own computer, people like you and me can say, “Hey, we’ll store your files on our computer for like ten dollars a day or whatever price that we agree on.” The Filecoin blockchain would then send those files to our computer and store them there. You might be wondering how safe it is if it’s on some random person’s computer. You don’t have to worry about that because those people will never be able to see your files. They are private and locked by Filecoin’s blockchain. This theoretically means that you can go out and buy a couple of terabytes of storage and put them in your basement and let them run on Filecoin, making you some extra money. This decentralized system is way better than having all the data stored on centralized servers because, for one, it gives everyday users a chance to make some extra money, and it also keeps the data closer to the user who’s storing it, which makes uploads and downloads a lot quicker. If you’ve ever tried uploading a YouTube video, you know just how long a 10-minute video can take to upload. Think about it, if you were a company that needed a lot of data in the cloud, you would have to pay millions of dollars to do this, and you really can’t negotiate because it’s their price or nothing. Then, on top of that, your data might be across the whole world on another server, making it slower to retrieve and download your information. If the company wanted to, they could just stop storing your stuff on all their servers altogether, but Filecoin is going to fix these issues by sending the users’ files to server providers like you and I that are close to the user, thus fixing the speed problem.
On the other hand, it also allows users to choose their own cost for storing data by giving them the option of what server provider they want to use. Maybe one particular provider is super quick and it costs more because they have a better computer. On the other hand, you might choose a cheaper option because it is further away and you want to save money. The best part of all this, as I mentioned, is that it’s all on Web 3.0, so no one can just shut it down all right.
Looking at the price action for Filecoin currently, it’s trading at $17.71, very close to $18, and this is very similar to not only Theta what we talked about, but pretty much every other coin in the market right now.
It’s down a lot, specifically in the last 10 days. We’re also in strong cell territory, which is really trying to push you guys to see that it’s not a bad thing. The whole market is down now. We’re not going to be able to see these strong signals very often. Even if we do, it’s going to be, um, what do people call it, a pump fake? It’s going to be a fake warmup. It’s going to come back down because, I hate to break it to you, we are in a bear market. The best thing you can do right now is just keep buying at a constant cost and just keep buying as many coins as you can while also maintaining your risk level.
If we zoom out to the macro level, I want to share something with you guys. Pretty much, I’m sure we all know this, every company out there is storing data on the cloud, like millions and millions of gigabytes, terabytes, whatever you call it, of data.
So, according to this article, the global cloud computing market is expected to grow from $445 billion to $947 billion by 2026, representing a 16% increase. So even if Filecoin only captures a small percentage of that, even if it is only one or two percent, it will have a huge impact on its price.
It’s not like Filecoin is in a dying industry; this is a growing industry. So I have very huge faith in the price of Filecoin because one, not only did we see an all-time high of crazy numbers, but it has a real use case that I think a lot of people will use in the future. With the growing industry, all of these are very bullish signs for the price of Filecoin.
Coin 3 (risky)
All right, so my last coin I have for you guys today is Seedify.fund. It’s currently sitting at number 415 in CoinMarketCap. It’s a more risky, less established project, but it could be a hidden gem. Let me explain why.
Seedify.fund is an incubator and launch pad for blockchain games and gamers since play-to-earn games have just exploded in the gaming industry. There are a lot of new projects that are being developed that need funding. Seedify.fund is a cool, easy way for average people like me and you to get in on these new gaming projects without having to be a VC or have millions of dollars.
If you go to the “launch pad” on their page, you’ll see all the upcoming pools you can be a part of and invest in. How it works is that you find a game that you like, and you can invest in that game, meaning you get a portion of the company before it gets listed on any other exchange.
So you’re essentially getting in before anybody else can. There’s a lot of room for upside growth, but with that, there’s also a lot more risk with these investments because they’re newer and probably only have one or two people developing the game, so it could easily fail and you could lose your money. However, that is what venture capitalists do all the time. The majority of the startups that they invest in end up failing, but that’s part of the game, and they know that they only need one out of their 10 or 20 investments to hit and make a lot of money. Yes, it is risky. Do your research. Reach out to the team or person running the project. Ask around. But just understand that once you make your investment, there’s a high chance it won’t do well.
On the slimmer chance this game gets widely adopted by the gaming community, you’ll probably make a hundred or even a thousand times your money. Also, because Seedify.fund is a smaller coin, it’s not offered on Coinbase, so you’re going to have to go to exchanges like PancakeSwap KuCoin or gate.io. Yes, it does require an extra step, but I always like to tell myself that if it’s on Coinbase or these other big exchanges, a lot of the big money is already made, so if you’re able to pick them up on these low-key exchanges that, mind you, not that many people know how to use, it’ll give you way better odds of making a larger return all right.
Finally, looking at the price actions for Seedify.fund, currently it’s trading at $0.18 and just like every other coin I mentioned, the price is down a lot not only in the past couple weeks or a week, it’s down a lot over the past couple months. The main reason is that the gaming hype is not there as it once was.
If we look at the all-time high, the all-time high was almost $17, but if we look at the all-time low, this was down almost $0.30. That’s a crazy increase in its price, and the reason for this was that during this time all the gaming hype was going crazy for crypto. Everyone was playing crypto games. Because this coin has to do with crypto gaming and funding for new crypto games, it was the new thing. This is one of the main reasons we saw this huge run up in its price.
Also, if we look at the market cap for Seedify.fund, it’s only $78 million. This is literally nothing compared to all the top coins in the top 100 CoinMarketCap, so this is not even over a hundred million. So coins like this, yes, have a lot of risk, as I mentioned, but they also have a lot of upside potential. This is ranked at number 421. This is very, very low on coin market cap, but it has a lot of potential to grow because of what it offers.
If you’re banking on the long term, not just the coin, but you’re banking on the gaming industry as a whole, because if the industry as a whole does well, this coin will do well inevitably. But these were my top crypto picks for the month of May.
[This article is a transcription of a video made by Faares Q]
Original video: https://youtu.be/85Ur-GS-0MQ ]