Each week BTCManager and the JaketheCryptoKing intend to explore a new moonshot opportunity. The goal is to find an altcoin that can truly “moon.” Two to three hundred percent returns are great but what about ten times your money in six months? These coins exist in the cryptocurrency marketplaces; they solely need to be found. Moonshot: Oyster Protocol — PRL.
The Condition of the Crypto Markets
Rumors of a Binance hack coupled with further SEC comments drove BTC from a high of over $11,500 on March 4, to under $8400 on March 9. The second piece of FUD that came out this week impacting the markets dramatically was that Binance was allegedly hacked. This was a rumor Binance repeatedly denied. Binance has commented that no funds have been lost, their site is working great, and there was an issue with traders using bots and APIs. Even if the SEC news was brand new or if Binance was indeed hacked, the result of the crypto market cap falling from over $500 million to under $350 million in one week is absurd. The crypto markets are fickle, volatile, and over react to the slightest change in sentiment. Articles repeating old news and framing it in a negative light this week (SEC) caused panic and a market correction. Rumors of a Binance hack coupled with further SEC comments drove BTC from a high of over $11,500 on March 4, to under $8400 on March 9.
The second piece of FUD that came out this week impacting the markets dramatically was that Binance was allegedly hacked. This was a rumor Binance repeatedly denied. Binance has commented that no funds have been lost, their site is working great, and there was an issue with traders using bots and APIs. Even if the SEC news was brand new or if Binance was indeed hacked, the result of the crypto market cap falling from over $500 million to under $350 million in one week is absurd. The crypto markets are fickle, volatile, and over react to the slightest change in sentiment. Articles repeating old news and framing it in a negative light this week (SEC) caused panic and a market correction.
What is a Moonshot?
Incorporating a balanced portfolio with a few moonshots is an important aspect of diversification. Moonshots and ICOs are the riskiest aspect of the cryptocurrency markets and should only appeal to those investors that seek the highest risk, highest return investments. Moonshots are not the part of your portfolio that requires daily attention nor should they be day traded. This is technology and a team you believe in for the long haul. Until they take you to the moon.
It is always exciting when a cryptocurrency jumps over 100 percent. When the market is bullish small cap moonshots tend to rally producing much higher returns than BTC, however, during a correction they will also lose a much higher percentage than BTC. Moonshots should never be one’s entire portfolio but if you are choosing to invest/gamble in the cryptocurrency space, having a few moonshots creates a very exciting aspect to your portfolio. This week’s Moonshot, PRL, is a favorite for multiple reasons!
What is Oyster Protocol (PRL)?
Oyster — PRL
Oyster (PRL) is hosting an airdrop of the SHL token April 6, 2018. Crypto is fairly unique as money regularly rotates to the “next best thing.” Forks, airdrops, and other big news constantly have individuals rotating their funds to new coins. Recently ZCL forked with BTC, following this fork the price of ZCL plummeted as people rotated money to new opportunities. These included the XMR fork or ETC airdrop. PRL also recently announced being added to NextExchange which is determined by the community voting. PRL has a massive community behind it able to do things like add PRL to exchanges. Oyster (PRL) is a great cryptocurrency but their important news is occurring in three weeks providing the short term to accumulate.
PRL specializes in providing methods for web hosts to profit from users visiting their sites. Most would assume the only way to profit is through paid advertisements. However, PRL has created a unique line of code on the blockchain that allows for the individual’s computer to contribute an unnoticeable amount of hashing power to the website. This will allow for the confirmation of transactions on the PRL network, providing a stream of income to the webhost. The webhost and individual are both satisfied as advertisements disappear yet hosting remains profitable.
PRL is on the cusp of accomplishing their goals. They just launched their Testnet B. The Oyster blockchain uses a very miniscule percentage of the user’s computer for confirmations in transactions being sent on their network. Their testnet has demonstrated this is not only possible but feasible. Imagine an internet without advertisements.
The next few weeks provide multiple catalysts for why PRL should be accumulated in the immediate short term. PRL has an airdrop coming up of the SHL token at a 1:1 ratio for PRLs held on April 6, 2018. The SHL token will not be sold through an ICO and is only being provided to PRL holders that have their PRL in a supported wallet or exchange.
Expect money positioned for the XMR fork to rotate into PRL once this month’s forks and air drops have concluded. PRL also just completed a token burn reducing their total circulating supply by more than 10%. In the following thirty days expect exchange support to be announced. Bittrex waited until six hours before the ZCL fork to announce support of Bitcoin Private (BTCP). As money rotates into PRL as the ‘next best thing’ expect the price to rapidly trend North.
At $.85 per coin with a market cap of $61 million this is the perfect time to accumulate prior to the entire market rotating holdings into PRL. PRL has an airdrop, token burn, functioning Testnet B (almost at mainnet), and is the final of multiple airdrops/forks this month.
To read about other Moonshots visit: https://btcmanager.com/guide/moonshot/
To read the King’s prior articles, to find out which ICOs he currently recommends, or to get in contact directly with the King, you can on Twitter (@JbtheCryptoKing) or Reddit (ICO updates and Daily Reports).