Top Altcoins for May 2020. Top 4 Altcoins Set To Explode in 2020 — Best Cryptocurrency Investments.
Bitcoin
When Bitcoin plummets, it drags most cryptocurrencies along with it, but it is also important to remember, that several major cryptocurrencies have been in an uptrend, for the past few weeks.
Bitcoin has gained, and reached almost $10,000 and came back.
Bitcoin broke above $9,200, on May 7, and hit a high of $10,058 on the same day. However, the $10,000 level proved to be a tough hurdle to cross. After a minor correction on May 8th and 9th, the BTC USD pair plummeted on Saturday evening. $10,000 was close to the resistance line of the channel, and from there the pair fell to $8,130, which is just above the support line of the channel. This suggests that the bulls did not panic, but used the drop to the support line of the channel to buy. As long as the price remains inside the channel, the trend remains up, and strong declines to the support line of the channel can be purchased.
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Check out this Youtube video on Top Altcoins for May 2020
Basic Attention Token (BAT)
One of the more interesting cryptocurrencies to watch in 2020, and which could explode higher is, Basic Attention Token.
The core idea behind BAT is pretty simple, The digital advertising model is broken, in that user, and advertiser incentives are not aligned. Instead, they run opposite one another. That is, advertisers want users to watch their ads, while consumers want to skip the ads.
The idea of BAT is to realign the incentive structure, in the digital ad network, so that user and advertiser incentives match one another.
To do this, users get paid Basic Attention Tokens, to watch ads in the Brave browser, so that they are now financially incentivized to watch the ad. The end goal, of course, is that more consumers watch ads, and advertisers sell more product and generate more brand awareness.
Chainlink
One of the hottest cryptocurrencies, and one which Matt McCall thinks, will remain red hot for the foreseeable future, is Chainlink. In his Ultimate Crypto portfolio, Matt first recommended Chainlink, in early January at a price of $2.09. Today, Chainlink trades hands at $3.71, up a whopping 75%, in just four months. What’s more, that 75% return over the past four months, follows a 450% return in 2019.
Chainlink is considered, as a bridge between the blockchain world, and the overall global ecosystem. They have developed a set of tools, that helps to connect blockchains, and smart contracts, to external resources in different networks. It is one of the most successful projects of 2019, in terms of monetary scale.
Several top crypto projects like, ICON, Kava, Solana, and Swipe, have already entered into partnerships with Chainlink, to use their Oracle solutions.
The company also made a partnership with Google, in June last year.
Cardano (ADA)
ADA has been facing stiff resistance, at the overhead resistance at $0.052, while the bulls have been buying the dips to the support, at $0.046. This tight range trading suggests, a balance between buyers and sellers. ADA plunged to a low of $0.042, however, the sharp recovery from the lows, shows aggressive buying by the bulls. ADA is now trading around $0.051. if the price again slips back below $0.046, it will signal weakness. Below this level, a retest of $0.042 is possible.
If this support also cracks, a deeper correction will be on the cards. If the bulls buy the next fall, to the $0.046, to $0.046 support zone, it will indicate demand at lower levels. Therefore, traders can buy the bounce off this zone, with a target objective of $0.053.