Hi guys,
I'm here today with a slightly different post, as you might know I normally post about photography, but another great passion of mine is cryptocurrencies. I do a lot of research on them so I can make wise investments. In the past this helped me make some quick bucks, although I don’t have much spare money laying around, which is why I didn’t earn as much as some of you did. With that being said, let’s get to the main point of this post. I’ve heard a lot of negativity today about the recent correction in the world of cryptocurrencies. But I don’t see this as a bad thing and this is why:
We all knew that a correction was bound to occur, the market was very good to us past weeks after the previous correction. As we all know this can’t go on forever, so that means a correction will happen every now and then. These corrections give the market some air to get out of a parabolic move AND it gives us the opportunity to buy into coins where we missed the big upward move. Even if you didn’t miss it and you’re already owning some of the currencies, now is the time to get some extra at a discount price.
Which currencies to pick?
The first two picks I made for my investments are Bitcoin and Ethereum, here is why. My main pick out of these two is Ethereum, I believe that Ethereum will overtake Bitcoin in marketcap within the next few weeks. If this happens there will be a whole shift in the market because this never happened before, ever since bitcoin launched it has been the leader of the pack, the mother of all coins. Now if that is about to change, people will start moving away from bitcoin because now there is this new leader, a new safe haven (for as far as you can be safe in the crypto world). So when Ethereum overtakes Bitcoin, many people will convert their Bitcoins into Ethereum which will lead to a further rise of the price of Ether and a decline in the price of Bitcoin.
So then why am I also buying Bitcoin? Well that is because all of the above is based on the assumption that Ethereum will overtake Bitcoin. And if that wouldn’t happen then it will be because Bitcoin came back up strong from the correction. Because I check the markets regularly I’ll always be able to change my Bitcoin into Ether if I see that Ethereum is getting close to the Bitcoin marketcap. So basically I bought bitcoin now as a kind of a hedge, incase my prediction wouldn’t come true.
My 3 other picks are... DASH,NEM and STRATIS
The same story goes for all 3 of them, that's why I bundled them all 3 together. They all had a severe correction in the last days. That is why I believe they are all undervalued at the moment. I believe that all of them will go up in the coming days and we might even see rocket like move on at least one of those. Which one it will be? If you would ask me I would say it’s going to be Stratis again, but I’m not 100% sure about that, which is why I’m not putting all my money on Stratis. Diversification is key here guys. All of them are at a low price now which means you can buy them cheap and make more profit.
I am NOT a financial advisor, this is just my thoughts on the recent movements in the market. So if you’re looking to invest, please do some research yourself and I’m not responsible for any losses that you might make.
PLEASE let me know what you think about this post, I read all comments! Let me know if you found any value in my advice, or if you think that I should go back to just posting photo’s. Upvote and follow for more post, resteems are highly appreciated!
PS: English is not my main language, so sorry for any mistakes
Going long on ETH but only thing bothering me is there is no cap and that everything hangs on one guy. Vitalik can influence everything. One man show. Or am I wrong...
Interesting point, i'll need to read into this. And as far as Vitalik goes, he is the invetor of the technology and he developed it. But he actually has no power over it anymore, or atleast not directly. The only power that he still has is lobbying for ethereum, making sure it gets adopted. That's why he's traveling the world, and meeting different world leaders.
What is Nem? I could not find it on Bittrex.
Yes Nem is the name of the technology, Xem the name ot the coin like Ethereum and Ether
Do you mean XEM, New Economy Movement?
Yes Nem is the name of the technology, Xem the name ot the coin like Ethereum and Ether
Not so sure about the Flippening happening so fast. We have a lot of other factors to contend with - mainly the upcoming fiat crashes all summer and the brand recognition of BTC will make it the #1 safehaven for noobs to run to. I also think that BTC might get it's processing sh*t together and solve it's problems, thus bringing back loyalty to it's trusted brand. I am pretty sure those Developers don't want to see BTC go down as #2 just because they won't come to an agreement.
I am more excited by LTC than anything right now. I think it will keep going up and be a rival to ETH, it is already well positioned to do so.
Some good points you make there. I think bitcoin might be too late to fix the scaling problems though. But that will all depend on what will happen to ETH in the upcoming days, will it manage to get out of this standstill and if so will it go north or south!