The BitBoy Crypto channel has released a video featuring its top five cryptocurrency picks for May 2021. The video claimed that April had been a red month for Bitcoin, but that many altcoins had triple-digit gains, including Solana and Elrond. Of the April picks, only Theta saw losses. In this month’s selection, FTX Token was included, with the video citing its naming rights deal with the NBA’s Miami Heat. Polkadot was also picked, following a double bottom on the charts and its ecosystem. Chainlink and Terra LUNA were also chosen, as was the ticker FTT.
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Altcoins Exploding in April Despite Bitcoin’s Struggles
April turned out to be a red month for Bitcoin, but many altcoins saw significant gains. One of the projects that performed exceptionally well in April was identified by BitBoy Crypto. The crypto channel picked it as one of their April picks of the month, and HODLers of this coin saw green throughout the month.
BitBoy Crypto’s Picks for May
With May well underway, BitBoy Crypto has identified the top five crypto gems that investors should add to their portfolio. In their latest video, the channel identified these five projects that could perform well in May:
FTX
Ranking in at No. 5, FTX is a crypto exchange that has been gaining traction lately. FTX was the first exchange to create tokenized derivative versions of stocks such as Tesla and Coinbase. Binance has since followed in their footsteps. FTX recently signed a deal with the NBA’s Miami Heat to get naming rights for their arena. With FTX’s chart looking ready for its next leg up, May could end up with a much more expensive FTX Token.
Chainlink
Chainlink made its resurgence in April and might be coiling up for another major move. While currently ranked No. 12, the overall pattern of LINK on the charts tends to show spikes, crashes, accumulation, and then repeating the process. As more accumulation stages decrease, altcoins are likely to experience a parabolic crescendo by the end of this market cycle. BitBoy Crypto predicts a potential $50 LINK by the end of May.
LUNA
Coming in at No. 3, LUNA is one of the few projects that are making its second appearance in BitBoy Crypto’s monthly pick list. The last time LUNA appeared, it saw a triple-digit-percentage gain, making it one of the most profitable coins ever covered by the channel. The tokenomics of LUNA include burning its supply, making it more attractive to investors. Expect to see further rallies for LUNA in May.
Polkadot
Ranked No. 2 on the list, Polkadot is another project that BitBoy Crypto predicts will see a resurgence in May. Recently, Polkadot saw a double bottom on the charts, bouncing off the $30 level. BitBoy Crypto predicts a return to $40 or even $45 but expects a breakout for Polkadot to surge well above $50, citing the strong ecosystem and potential for Kusama to move in tandem.
Token Metrics
As always, BitBoy Crypto’s monthly pick videos were assisted by Token Metrics, their coin research site of choice. Token Metrics uses quant AI and machine learning to find the best coins for portfolios. Investors can try Token Metrics with a 7-day trial for less than $5.
With BitBoy Crypto’s track record of spotting top-performing projects, it’s no surprise that investors are looking to add these to their portfolios. May promises to be an exciting month for Bitcoin and altcoins alike, and these picks could help investors see green once again.
