Lid’s August Altcoin Picks

As we now enter August, the Crypto market is continuing its slow-bleed since January’s highs. Many altcoins are completing full retraces, while others are reaching critical support. These are the times nobody wants to buy as people are in distraught about their portfolios, or they simply have no spare BTC to purchase these juicy dips. If you’ve held spare BTC for times like these, then well done.

Gone are the days where every altcoin could be listed on one page of Coinmarketcap. In contrast, we are now in a time where hundreds of new coins are introduced every month, and if we’re being honest, it’s getting more and more difficult to filter out the scams from the gems. One way to limit your risk when buying altcoins is to not touch coins that are far from their bottom, but instead are near strong support where the price has bounced from in the past. Here are some coins I’ve been looking at:


Where to set bids? 16k-17k sats
Long term target (sir?) 90k sats


ARK (ARK) $100m MCAP

Where to set bids? 9.5k-12k sats



Currently NXS is sitting on 15k sat support, and it isn’t a bad idea to start scaling your position from here. However, there’s a good chance we’ll see lower.
Where to set bids? 9.5k-12k sats



Where to set bids? 1550 sats – 1750 sats



Where to set bids? 30k sats and below is a good buy zone to start scaling in your position
EDIT: Seems like STRAT support might fall through – I’d be wary at this point and look for a lower entry to limit risk 🙂

We are currently in an uncertain time of the market, limit the risk of your investments by setting ambitiously low bids (for those panic dumpers) and look for coins heading for critical support. There is much more risk in buying coins that have risen and are not near their bottom.

Trade safe and DYOR!

Oversight of New Assets in the Digital Age

The U.S. House of Representatives held a hearing this morning to gather more information about Bitcoin and other cryptocurrencies to help further build a base of knowledge to inform new regulations.

The committee heard from industry leaders such as CEO and Co-Founder of Clovyr.  Ms. Baldet has been pushing for an increase in clarity and proper framework to protect consumers without stifling inovation, and she was not alone.

Joining her were Mr. Gorfine from the CFTC, Mr. Kupor of Andreessen Horowitz, Mr. Lowell Ness of Perkins Cole LLP, the Honorable Gary Gensler of MIT, and Mr. Fairfield; a professor of law.

The chairman noted the increase in attendance at the hearing, as well as addressing the question of why the agriculture committee is dealing with Bitcoin and distributed ledger technology in the first place.


“While digital assets are often thought of as payment systems or digital gold, I believe the promise that token networks hold is more universal and more exciting, quite frankly, than that.”

“For the first time we have a tool that enables individuals to reliably exchange value in a digital realm without an intermediary.  We can have assets that exist, can be created, exchanged, and consumed in digital form. The promise of being able to secure property rights in a digital form may fundamentally change the way how people interact with one another.”

The first step is to apply the Howey test and determine whether a token is a security.  If it’s not, there’s a good chance it’s a commodity and would fall under the Commodities Exchange Act. The problem is the Howey test is not always able to make a clear determination regarding cryptocurrencies.  The chairman also noted that Congress may want to consider developing a new framework “that takes into consideration the diverse characteristics and unique economic relationships embedded in many of the types of digital assets that can be represented by tokens.”

“Providing clear guidance to enable developers to determine the nature of their tokens, and then suitable rules to enable them to develop their project is essential to both protecting the public and promoting innovation.  How we regulate these projects and those that develop them won’t determine if they are developed or used, but it will determine where they’re developed and used.”

“We want that innovation done in our country.”

The price of Bitcoin has been rallying after confirming support near $6000 USD.