Bitcoin Rallys to 2700. Which coins are the next to move?

in #bitcoin7 years ago

Bitcoin 24 hour chart

Bitcoin's 12.5% rally to 2700 was unexpected and caught many off guard. Many would expect the ETH/other coins to rally more considering consensus 2017. I believe the large inflows for bitcoin is due to the larger investment community becoming more aware of currencies and bitcoin being the coin of choice to buy (least volatile). Bitcoin is like the gateway drug of the cryptocurrencies. You need it first to buy other cryptocurrencies in the coin to coin exchanges and once you start reading about bitcoin. Assets are bound to flow to ethereum or litecoin.

I have been playing the ETH valuation spread on Poloniex relative to the ETH valuation on coinbase and i got freaking run over by Bitcoin's rally. However, i still believe that there will be more money flowing into ETH. With segwit a possibility for bitcoin in August. I'm taking a risk and my portfolio does not have any exposure to LTC.

Below is my portfolio exposure. I got stuck in STR and XRP because i margined up and now i can't get rid of it unless i delever. I don't mind it. XRP is being discussed in day 2 of consensus 2017 and STR i'm seeing long term positioning on Poloniex.

Additionally, in my margin account, i'm long ETH relative to BTC. Positioned to profit if BTC falls and ETH rallys

god bless ethereum holy shit