“Why’d you have to do us dirty like that, Elon?”
That’s what most crypto investors have been thinking since Q1 2021, when the Tesla and SpaceX CEO stabbed BTC in the back. After backing the cryptocurrency initially, he did an about-face after hearing about its environmental impacts.
Since then, crypto valuations (and those of crypto firms) have fallen sharply. BTC is down 52.4% since hitting its all-time high in April 2021, while ETH has plunged 58.3%. Coinbase (NASDAQ: COIN), after debuting with a valuation of 342.00 on the NASDAQ, closed recently at 220.61 – that’s a 35.5% decline YTD.
But, as Warren Buffett once remarked, bear markets are the best time to be greedy. Solid and/or promising assets are on sale as we speak – how else do you think traders get rich?
However, it’s hard to invest a meaningful chunk of your portfolio in BTC, ETH, or a company like Coinbase. However, your dreams aren’t dashed – you’ll just have to embrace some risk. By investing carefully in an OTC crypto play, you can build up your brokerage account.
Comfortable taking a gamble? Check out the following three crypto stocks, as they may break out soon.
Majic Wheels, Corp. (OTCMKTS: MJWL)
Majic Wheels (MJWL) is a garbage company. No, wait, that’s wrong – they were a garbage company. But after more than a decade of hauling trash, construction waste, and recyclable materials, they abruptly shifted focus.
In April 2021, a new management group took over MJWL. Soon, it became clear they had very different plans for Majic Wheels. In short, they are leaving the waste management industry behind, opting to move into the crypto space instead.
Just one month later, they unveiled their plans, announcing a reverse merger with CGCX Ltd. For those who are unfamiliar, CGCX is a cryptocurrency platform that brought in 150 million USD in revenue last year.
The impact on MJWL stock was immediate, as this unspectacular penny stock went from 0.01 to 0.07 almost overnight. Now usually, when penny stocks spike, they fall back to Earth just as quickly. But not MJWL – instead, it went on an extended bull run, topping out at 0.26 on July 2.
Since then, the bears have pounced, cutting Majic Wheel’s stock price in half. Now, it’s true many initial investors have either cashed out or panic sold their shares. But these short-sighted actions are ignoring one central fact – MJWL still operates a nine-figure asset. As of today, CGCX is the second-largest crypto exchange in America (behind Coinbase).
Knowing this, MJWL may be a deal at 50% off.
Life Clips, Inc (OTCMKTS: LCLP)
Majic Wheels isn’t the only nearly-defunct company that’s found a second life through crypto. Earlier this year, Life Clips (LCLP), a former producer of action cameras and mobile phone batteries, acquired BelfricsBT.
BelfricsBT is a Malaysian firm that runs crypto exchanges in seven countries. BelfricsBT is notable for being the first crypto exchange firm to obtain government approval in the Middle East (Bahrain). This company is an even bigger deal than CGCX – as of this moment, BelfricsBT has a market valuation of 400 million USD.
After the reverse merger with BelfricsBT, LCLP stock has exploded. Before July 9, this equity had struggled to reach 0.01. But since then, it’s peaked at 0.062 – currently, LCLP’s price is sitting at just under 0.03.
Right now, many traders are treating this penny stock as a classic “get in, get out” play. But if you feel like taking a risk on a firm that now owns a 400 million USD asset, the sky could be the limit.
Net Savings Link(OTCMKTS: NSAV)
We’re beginning to notice a pattern – are you? Net Savings Link is another firm that is launching a crypto exchange, and because of this, they have seen significant gains. Recently, they acquired Virtuabroker, an aggregator platform that coordinates crypto trading across multiple platforms. These include leading exchanges like Coinbase and Binance.
The most important aspect of this platform, though, is its killer app – AI. According to Virtuabroker, their platform uses artificial intelligence to find the best deals for its users. If this becomes a game-breaking use of AI, Virtuabroker could revolutionize how crypto trading is done.
Because of this, NSAV has awakened after nearly a decade of trading below 0.01. The promise of this potentially breakthrough technology has resonated with many penny stock traders. As a result, NSAV has rallied as high as 0.07. Currently, this equity is sitting at around 0.046 per share.
Again, this platform could be the next big thing in crypto trading. Or it may be another flop. If you have some extra capital sitting around, this stock is an intriguing investment.
Invest in Crypto Firms While the Investing is Cheap
Crypto has taken a hit this year. After being one of the biggest proponents of this asset class, Elon Musk threw cold water on the entire market in a matter of days. But that doesn’t mean crypto is dead – just as in the crashes before this one, recovery will follow.
But the time for buying is now, not two years from now. You can only benefit from the saying, “buy low, sell high” if you have the courage to actually follow it. That said, always do your research and never invest what you can’t afford to lose. Good luck!