With all the unknowns in the crypto space, it’s tough to know which crypto penny stocks have the most potential.
Especially with the seemingly negative news swirling around this week…
Bitcoin (BTC) is trading sideways and lacks volatility.
The SEC just delayed a ruling on a crypto ETF — for the second time. And the world bank just denied El Salvador’s request for help to put its recent decision of making bitcoin legal tender into action.
But that doesn’t mean big things aren’t setting up for the future…
That’s why I prepare in advance and build watchlists just like this one.
Two tickers on today’s watchlist are uplisting to the Nasdaq from the OTC markets. And I’m watching others for potential breakouts. Plus, a penny stock company just announced a new crypto trading platform.
And if a crypto ETF’s approved and more countries make bitcoin legal tender, it could mean big news for the entire sector…
So get to work. Prepare for all the potential opportunities by building your watchlist now!
Here are the top crypto penny stocks to watch this week…
Whewww, what a day! Glad these OTC runners are back!!
— Timothy Sykes (@timothysykes) June 16, 2021
Top Crypto Penny Stocks to Watch
Keep in mind that some crypto penny stocks only run when big tokens like BTC make new highs or recover from a big price dip.
With that being said, many crypto penny stocks are currently in a consolidation phase.
That’s because bitcoin is also consolidating. And these stocks can sell off more aggressively than the actual cryptocurrencies. And that’s because many buyers aren’t confident in holding penny stocks long term.
That’s smart — and the type of mentality comes with the territory. This is one of the reasons that I look for quick moves when I trade. I want to be in and out, minimizing my risk as much as possible.
If cryptocurrency keeps growing at this pace, these crypto stocks could give us great opportunities in the future.
Note that this list is only a watchlist. These are in no way a recommendation to buy or trade. Always do your own research. And only trade a stock if you have a plan and it fits your setup.
Crypto Penny Stock #1: Future FinTech Group Inc. (NASDAQ: FTFT)
FTFT operates a Chinese blockchain e-commerce platform and digital payment system.
There’s no recent news on the company, but it’s uptrending and close to a multi-month breakout level on the chart.
I’ll watch for a potential breakout over $4. It’s a former runner so it could get moving again with a news catalyst and high volume.
Crypto Penny Stock #2: LM Funding America, Inc. (NASDAQ: LMFA)
LMFA is a specialty finance company. It joined the crypto space back in April when it announced its “digital asset strategy” and its plan to purchase up to $2 million in digital assets.
The company also said it plans to pursue “development of transactional capabilities involving digital assets both organically and through potential acquisitions.”
On May 7, the company did a one-for-five reverse split. It’s now a low float stock with fewer than six million shares, so it could have a volatile move. But it likely needs a catalyst to bring in volume.
Crypto Penny Stock #3: FDCTech, Inc. (OTCQB: FDCT)
FDCT provides crypto services and solutions to businesses. It also operates a crypto trading platform.
The company’s a bit sketchy … On June 14, it announced it was not aware of promotional activity after it was approached by the OTC markets group regarding newsletters being distributed about the company. The stock was starting to uptrend on increased volume before the news.
On June 16, the company announced the appointment of a new independent director. And on June 17, it announced its subsidiary reached an agreement to sell its mortgage broking business for $1.75 million.
Read the full press release here.
The stock gapped up following the news, but it’s still trading near its lows. I’ll watch for the company to spew more press releases and for the stock to potentially breakout over 25 cents.
Crypto Penny Stock #4: HIVE Blockchain Technologies Ltd. (OTCQX: HVBTF)
HIVE Blockchain is a cryptocurrency mining company. It mines for multiple digital currencies.
On June 17 the company announced that Nasdaq approved the company’s listing application. There was no word on what the company’s new ticker will be or the date it will begin trading on Nasdaq.
I’ll watch for another press release with more details that could bring in the volume and possibly send the stock higher. But remember, these uplistings tend to be a ‘buy the rumor, sell the news’ play, so ride any potential hype and sell into strength.
Crypto Penny Stock #5: Hut 8 Mining Corp. (NASDAQ: HUT)
HUT is a Canadian crypto mining company that operates industrial-scale bitcoin mining.
The company was previously listed on the OTC markets under the ticker HUTMF. It uplisted and began trading on the Nasdaq on June 15.
As we’ve seen with other companies that uplist to the Nasdaq, it’s usually a ‘buy the rumor, sell the news’ play. HUT is no exception. It’s trading lower than it was on the OTC markets. But the uplisting exposes the company to more investors and that can mean more volume.
I’ll watch this one for a potential move when the sector catches momentum.
Crypto Penny Stock #6: Global Tech Industries Group, Inc. (OTCQB: GTII)
GTII recently announced the launch of its cryptocurrency trading platform Beyond Blockchain.
StocksToTrade Breaking News Chat alerted the news midday on June 17. (Past performance is not indicative of future results.)
Get a StocksToTrade 14-day trial for only $7. Or grab it with the Breaking News Chat add-on for only $17.**
The stock didn’t react to the news initially, but it’s a typical information inefficiency in penny stocks. I’ll watch for a delayed reaction to the news as the word spreads.
See the Stocks I’m Watching
I want to help you as much as possible, which is why I offer a NO-COST watchlist.
Will you find crypto penny stocks on my list? That depends. I go where the hottest market action is.
Subscribe to my weekly watchlist to see what makes the cut. I round up my top watches every week and send them to you. Use these stocks to study the trading patterns, catalysts, and price action. Then build a trading plan of your own.
Know that I’m not recommending you to trade the stocks on my watchlist. There’s no guarantee I’ll trade any of these stocks. I’m simply WATCHING them for potential future setups.
Never blindly follow alerts or hot picks. Ever. Do your own research. Your goal is to eventually become confident in your own trading plan.
When you’re looking for hot crypto penny stocks, keep in mind…
These stocks tend to move together on sector momentum. Don’t jump into these stocks before the markets give you a reason.
And keep your goals reasonable. Don’t go swinging for the fences. Aim for singles.
Watch for major news in the cryptocurrency industry. These stocks probably won’t run without a catalyst.
Learn to be patient and wait for your best setups to come to you. That’s what I teach in my Trading Challenge. If you want to become a self-sufficient trader, consider applying today.
What’s your take on crypto penny stocks? I’d love to read about it in the comments!
*This level of successful trading is not typical and does not reflect the experience of the majority of individuals using the services and products offered on this website. From January 1, 2020, to December 31, 2020, typical users of the products and services offered by this website reported earning, on average, an estimated $49.91 in profit.
**Tim Sykes has a minority ownership stake in StockstoTrade.com.
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