Serban’s Crypto Picks – BUY $ALGO on the Sell-off

Algorand $ALGO – We’ve been watching the market closely as it’s been very volatile following the sudden BTC crash from last weekend. Alt coins have, as usual, followed Bitcoin’s lead and had a retrace of around 15%-20% on average, with few exceptions. The first coin that we’re looking to buy to take advantage of this dip is Algorand which is a solid project that we can get on a bargain between $1.2 – $1.35. Even with this considerable market retracement over the last few days, ALGO has not broken its upward trend and as long as we stay above $1.1 (Stop Loss for this trade) we’re still confident in this coin. We’re planning to take profits first at $2.4 and then when we’re testing ALGO’s ATH close to $3.

Description from Coinmarketcap: What Is Algorand (ALGO)?

Algorand is a self-sustaining, decentralized, blockchain-based network that supports a wide range of applications. These systems are secure, scalable and efficient, all critical properties for effective applications in the real world. Algorand will support computations that require reliable performance guarantees to create new forms of trust.

The Algorand mainnet became live in June 2019, and was able to handle almost 1 million transactions per day as of December 2020.