Top Crypto Penny Stocks to Watch: Key Takeaways
- Crypto looks like it’s basing … these penny stocks might be too!
- Stock #1’s a PR pump machine, and lately it looks like it’s back from the dead…
- OTC spikers are back — and that’s good news for crypto penny stocks…
Things have looked bad for crypto … and the penny stocks that run with it.
I'm NOT disputing #Bitcoin #Ethereum & #NFTs have potential, but investors & traders MUST respect price action. Stop ignoring your account when you're getting crushed due to being brainwashed by BS #crypto promoters. Don't stay in the kitchen when your house on fire! #marketcrash pic.twitter.com/BeDJx4NbxJ
My students know to never “hold and hope” — yet that’s what so many newbies are doing now. The smart move is to respect price action, and take bitcoin winter as a time to prepare. What’s the best way to prepare? Build your watchlists, so you can be prepared for the sector’s next move!
Table of Contents
- 1 What Are Crypto Penny Stocks?
- 2 Top Crypto Penny Stocks to Watch
- 2.1 Crypto Penny Stock #1: One World Universe Inc. (OTCPK: OWUV)
- 2.2 Crypto Penny Stock #2: Riot Blockchain Inc. (NASDAQ: RIOT)
- 2.3 Crypto Penny Stock #3: Exxe Group, Inc. (OTCPK: AXXA)
- 2.4 Crypto Penny Stock #4: Bitfarms Ltd. (NASDAQ: BITF)
- 2.5 Crypto Penny Stock #5: Canaan Inc. (NASDAQ: CAN)
- 2.6 See the Hottest Stocks I’m Watching
- 3 Crypto Penny Stocks: The Bottom Line
What Are Crypto Penny Stocks?
Crypto penny stocks are stocks of companies that mine, hold, or invest in bitcoin (BTC), crypto altcoins, or blockchain technology. These can include companies entering the metaverse and NFT space since both use blockchain technology.
Crypto stocks went on an insane run in 2017. But they consolidated for years until bitcoin broke out to new highs in late 2020.
Over my 20+ year career trading penny stocks, I’ve seen plenty of hype around new potential hot sectors…
I made my first million in college during the dot com boom. (Read all about it in my NO-COST book “An American Hedge Fund.”) And hot sector hype returned with weed stocks in 2018, and again in 2020 with mask and biotech stocks. Now crypto’s the new kid on the block.
Top Crypto Penny Stocks to Watch
The stocks on my watchlist aren’t recommendations to buy. Heck, I don’t know if I’ll even trade them all. But I’m always looking for potential future setups.
NEVER blindly follow alerts or hot picks. Ever!
NICE TO SEE OTCS RUNNING AGAIN! THANK YOU $OWUV $IGEN $CYBL $TTCM YOU ARE A WELCOME RELIEF FROM THE $TGGI $INND $TGHI $ILUS $GGII $LTNC $HMBL $ALPP $ENZC $OZSC $OPTI $AITX $VPER $HQGE WEAK AF PROMOS THAT HAVE TOO MANY INEPT PROMOTERS ATTACHED TO THEM THAT HOLD THEM DOWN 4EVA
Crypto Penny Stock #1: One World Universe Inc. (OTCPK: OWUV)
Last time I published this list was way back in Bitcoin’s December glory days…
Guess which stock led the roundup? That’s right — OWUV.
One World Universe Inc. specializes in sports related businesses, distressed assets, business “emerging industries,” the metaverse, and humanitarian efforts in over 185 countries. Basically it takes on anything that can feed the press release machine.
Key points on OWUV…
- These press releases still produce results. The penny stock spiked 430% over a week in July, and 80% in early August.
- I traded it for over $3,100 at the end of its July run. Then I lost $1,100 in two more trades. It’s not the first time I’ve seen this stock totally fall apart.
- PR isn’t the only thing moving this stock. That’s why I tell my students to study their charts! The market knows that this junky stock can capitalize on volume … and collapse just as quickly.
When OWUV post 2,000% gains last December, a lot of newbies got swept up in the excitement. They’re now waiting to sell their junky HODLings into any spike. Despite that, this stock can run with the best of them.
Crypto Penny Stock #2: Riot Blockchain Inc. (NASDAQ: RIOT)
RIOT is one of the big names in the bitcoin mining business. As of December 31, 2021, it operated approximately 30,907 miners.
Key points on RIOT…
- RIOT runs when bitcoin runs. That’s why it’s a sector leader. That’s also why it’s lost 550% of its value since last November.
- This year, it learned a new trick — selling power, not using it to mint bitcoins. This helped its sales equal what they would’ve been if bitcoin was still at $40,000!
- As of the end of May, Riot still held about 6,536 bitcoin — enough to ensure it will bounce when bitcoin does.
Now, RIOT is just above penny stock threshold. When bitcoin heats up, expect this stock and Marathon Digital Holdings Inc. (NASDAQ: MARA) to get frothy.
Crypto Penny Stock #3: Exxe Group, Inc. (OTCPK: AXXA)
Key points on AXXA…
- I’ve traded this penny stock for almost $7k since 2018. It’s had some awesome spikes, but it’s a total scam.
- The catalyst for AXXA’s January run was the Metaverse. A few months later, it was a crypto exchange.
- Four years ago, I sold my AXXA shares for $0.29 each. In my latest trade, they were down to $0.02. See why holding these stocks is a losing strategy?
Crypto Penny Stock #4: Bitfarms Ltd. (NASDAQ: BITF)
Bitfarms is a Canadian crypto miner.
Key points on BITF…
- This is a listed stock. Its chart is far more consistent than OTC crypto penny stocks.
- It hasn’t pivoted to power production like other bitcoin miners. Despite rising mining costs, it mined more bitcoins in the first half of 2022 than sector leader MARA!
- Lately, it’s been getting good press on its fundamentals.
BITF doesn’t have the volatility of the crypto penny stocks I’ve historically traded. It can still make runs — like the 86% climb it had from mid-July to mid-August.
Crypto Penny Stock #5: Canaan Inc. (NASDAQ: CAN)
Canaan is a Chinese crypto mining firm specializing in backend operations. It designs and sells bitcoin mining equipment.
Key points on CAN…
- CAN is another listed stock. It’s held up better than most crypto stocks in the past six months.
- It’s what passes for a defensive stock in the crypto sector. Even when the price of bitcoin is going down, crypto miners still need CAN’s services! This has also helped CAN survive China’s crypto mining crackdown.
- CAN had a similar mid-August rise-and-fall to other crypto penny stocks. It reported good earnings, but reports suggest CAN is still in the shady penny stock category.
If crypto has a resurgence, Chinese stocks will be a part of it. I like CAN’s chances to ride the wave.
See the Hottest Stocks I’m Watching
Will you find crypto penny stocks on my list? That depends. I go where the hottest market action is.
Your job as a trader is to profit from volatility, do NOT fall in love with any trade or asset as a trade is not profitable until you lock in your profits & getting emotional can muddy the waters. Similarly, it's difficult to cut losses fast if you become too emotionally involved
Crypto Penny Stocks: The Bottom Line
Crypto penny stocks tend to move together based on sector momentum.
What do you think about these crypto penny stocks? Let me know in the comments below!