Just a couple of days ago we saw another issuance of the greatest marketing in crypto – I’m talking about Teeka Tiwari’s secret list of “5 coins to 5 million($)”.
The Palm Beach Group head analyst published a report just two days ago, which he called 5 Coins to 5 Million – in reference to his bold claim that these coins will moon so big, that they will most certainly make you a millionaire.
I must point out here, that this report is sent out to his subscribers, each of whom has to cough-up $5000 for their subscription (or $2500 with the generous discount he offered in his latest webinar on 6th May). Either way, the price tag is huge, but if his prediction lives up to the expectations, it will be a drop in the ocean of wealth that his followers will accumulate. But will they?
I’m going to give you my take on this report and I’m putting it out here on the record so I can go back to this post in a couple of years’ time and see if I really know my crypto.
What’s interesting, is that this is not the only 5 coins Teeka called out this year. Just a couple of weeks back he published another report, with another 5 coins and I begin to wonder if this is going to become a monthly event or something…
I am usually very sceptical of such hype marketing techniques and boy, did he pull a textbook marketing campaign on this one. He went on a few channels, including the controversial “London Real” to promote his webinar where he spent hours hyping his own achievements in the past and talking about his biggest wins of course, only to end with the special offer of $2500 price tag for the privilege to receive his sacred list. You must give credit where credit is due. The guy is great at marketing. Is he as great at predicting prices? Well, time will tell but we will take a look at the first 5 coins that he posted back in April to see how they’re doing. Some of you might also remember his 2018 prediction about Bitcoin reaching $40 000 in 2019 – something we all know didn’t really happen. Not even close in fact, so it is fair to say that he doesn’t always get it right and his predictions can be a little …ostentatious I guess.
With that said, I am not taking a stance against his research or analysis, neither am I suggesting that he’s a fraud or an actor (something I see a lot lately in the cryptoverse) – my goal with this post is to make an observational commentary and give you some food for thought and a point of reference as I always do. So let’s look into his picks.
On 18th March I think it was, his first 5 coins were shared with his following. These included MCO (crypto.com), ENJ (enjin), SNT (status), DATA (streamr) and NMR (Numeraire). Although my initial response to seeing this list was “wtf?!” I have observed their performance ever since and I must admit I am impressed. I won’t go into details about each of these coins, you can easily google them and find out what each stands for and their purpose, what I will point out here is their market performance since his signal was made.
MCO – the native token of Crypto.com – an app that I shared with you many times over the course of the last two years and one that I am long term holder of.
This is the least successful of his picks to date. Since his signal was posted this coin had a bit of pump (around 45%) but has corrected a lot since then and it’s now sitting at just around 13% profit from the price it was before his email.
Available on Binance and Bittrex
ENJ – another great project that I have neen accumulating quietly over the past few months and I was rather happy to see it on his list too. This one made 145% profit in the first week during the fomo effect and it’s now retraced but still sitting at around 100% profit from the price it was prior to the report. Available on Binance and Bittrex
SNT (status) – a project that wasn’t on my radar and one that looks promising to me too. I am still not bought in, just monitoring its performance and waiting to see a healthy correction before I accumulate. It gained 119% in the first week after the report, then it went up to 250% and it has corrected since then, it is now at 200% profit from the day of that report. It’s available on Binance
Data – also a good project with great looking chart and strong fundamentals. 400% in the first week. At the peak of the fomo it went over 1000% and still, after correcting, it is sitting at 750% profit from its price prior to the report. Also available on Binance
And lastly, NMR (Numeraire) – a protocol where data scientists work with encrypted data to make predictions for a collective hedge fund and are rewarded for accurate predictions. Another great profit with this coin – 500% profit at its peak and currently around 400% profit after correcting. Impressive. Available on Bittrex.
So it is safe to say that his influence is significant. So much in fact, that these coins haven’t dumped even weeks after he made the call. In fact, I have to point out that he actually talks about a possible pump of the price in the hours and days after his report is sent out and warns that this is not the best time to buy, so that’s a good thing, even though most of the retail investors do not take this into account (I know a few people who rushed and bought straight into the FOMO).
If he was simply running a pump’n’dump scheme, he wouldn’t send that warning and we would expect the coins to have already crashed after the FOMO subsided but they didn’t. In comparison, when John McAfee was posting his “favourite” coins back in 2017, he created the biggest pump’n’dump scheme and he did it in a very public way – something that helped many of us get rid of some bags and I am thankful for it, but it was unfair play however you look at it. Is this the case with Teeka’s top picks? It doesn’t seem that way. I am prone to believe that he has a vested interest in these coins and who wouldn’t? On one hand, he could be stacking them for his own and his customers’ portfolios, on the other hand, he might simply be charging the developers of these projects a hefty fee for including them to his list, something that seems most likely to me. Either way, if his customers and followers keep the same price action as before, his predictions become sort of a self-fulfilling prophecies simply because a large number of people are following the same signal of buying the same coins and holding them long term, which in return brings their value up and results in profits for the holders. Sounds ideal, right?
Only time will tell if his predictions come true, but now let’s move on to the part you are most interested in: his latest 5 coins – the ones posted just 2 days ago.
Here we go:
1. CRPT – Crypterium
He calls it “The Future of crypto payments” (I don’t think so but what do I know..) and goes on to claim the following: “We think three years from now, Crypterium could be processing as much as $10 billion in payments annually. That might seem far-fetched, but it’s actually quite conservative. Consider that Mastercard processes $6 trillion worth of transactions every year. Assuming $10 billion in payments annually, CRPT would need to be priced at $190.23
Current price: $0.4235 available on Kucoin Exchange
Is his figure realistic?
Well, anything is possible in crypto but I tend to think the estimate he’s making here is blown out of proportion for the shock factor. But even if only a fifth of that prediction price is reached, you are still going to make more than 100x from that coin, so time will tell. I personally don’t think that 3 years will bring that coin into the double digits but the bull market is only just starting, so who knows…
2. Link (Chainlink)
This is a coin I already shared with you a couple of months back. It’s a great project and with a loyal community support and I do expect to see it rise in the coming years. It’s a solution for seamlessly integrating oracle data into blockchains, providing a link between different blockchains, hence the name. He calls it the “missing link” of the blockchain and I have to agree with him that it is one that can grow in value a lot.
According to the report: “There are over 10 million smart contracts today. And by 2023, we expect there will be billions of smart contracts in operation. By capturing just 2% of the global data market, LINK will be worth $28 per token. That’s enough to turn $500 into $6,135 and $1,000 into $12,270, respectively. This is one of the few predictions of his that I actually agree on. The report falsely claimed that the price is around $2 when in fact it’s been above $3 for over a month already.
Current price: $3.70 – available on Binance and Bittrex
This is an older coin and I am surprised to see it on that list and even suspect that he’s been paid to include it. According to the report: “What makes Tierion special is it’s already innovating. It’s figured out a way to make document security easy and cheap. For many users, the cost will be near zero…” This is all fine, but is this enough to position this project as a market leader in this space? Is that enough to drive its price 100x? I have my reservations about this. Here’s the estimate the report gives: “Based on revised estimates, if we assume that TNT eventually captures 10% of the global market, it will be worth as much as $12.4 billion. That would give TNT a price of $28.93 — a 120,480% gain from today. That’s enough to turn $500 into $602,900″.
Current price: $0.1005 – available on Binance
Again, even with my reservations, if this project does a fifth of the projected gains, we still end up with way more than 1000% gains, which is crazy. Sensational of course, but is it possible? Sure.
Is it likely? I am not convinced.
That doesn’t mean I wouldn’t buy some and sell it at the pumps, but I would not be holding this for 3 years or more.
4. RCN (Ripio Credit Network)
You see, there is a lot I don’t like in his opening sentence of this next coin.
This token is a part of a blockchain-based protocol that uses smart contracts to make low-cost loans.
Another great project with potential but it’s not the only one I know of.
Here I am reminded again that this selection of tokens could be influenced by personal vested interest or even paid advertising. In other words: shilling. However, the fact that so many people are following Teeka’s list so closely and rushing into a buying frenzy as soon as he publishes it, is a catalyst for the prices of these coins and even if he had ulterior motives behind his picks, the end-result is still a positive price action and this is what I care about in the short term. The difference between me and the rest of his subscribers, is that I am not a long term holder of alts. I’ve learned my lessons and alts are only for trading and flipping, no hodling.
The report goes on to say: “We think that three years from now, Ripio’s loan book could be in the range of $150 million to $600 million. If we assume the market projects a $600 million loan book at a 34 multiple, that implies the RCN token could be worth as much as $40.17 per coin. That’s enough of a move to transform a small $500 investment into as much as $542,831.
Current price: $ 3.28 – available on Binance and Bittrex
5. 0x (ZRX)
0x is a protocol (or set of rules) that programmers use to build blockchain applications. These apps let people trade crypto tokens directly without the need of a centralized exchange. However, 0x is neither the first DEX out there, nor the best one anyway, so making the bold claim that it’s going to blow up in the coming years is a wild guess at best.
The report states: “If we are right in assuming that almost 2% of the world’s crypto trading migrates to the 0x protocol, the Coinbase model suggests we could see prices as high as $40 per token for 0x.”
I don’t agree with that assumption and as with all his predictions, everything seems way too inflated to me and I would expect these projects to do much less than that. I will not be chasing 0x for the time being. I recently sold my stash and will not accumulate it just yet.
Current price: $0.38 available on Binance if you are interested.
Teeka’s list is surely a great marketing trick that causes a lot of hype and may not be 100% correct or even realistic, but it results in bringing a lot of high net worth investors into these projects which helps them grow in value. Just the kind of thing you need to make an easy profit. Remember, if you invest in any of these coins, you must regularly monitor their prices and market performance. Do not get complacent and leave them in an exchange. Always store coins in safe storage (cold wallets preferably). And most importantly, be ready to sell them when the time comes instead of being a bagholder for life.
I laid down some of the best strategies on when to sell and how to protect your capital in my upcoming book “Beginners Guide to Cryptocurrencies” which will be out next month, so watch this space.
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