5 Crypto to Survive a Market Crash - My picks
7 years ago in #cryptocurrency by cryptobobby (65)
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Great video! Though the market is recovering now, slowly but surely...
We are likely in for another decent sized dip a few days time in my opinion so I would just be a bit cautious until early Feb when I think we will finally start to move upward at a fairly constant level from that time forward. Basically don't be surprised if we touch 8k BTC in the coming days before moving back up to current levels (10-12k early feb) and beyond (14k mid feb) back to all time highs (20k in March/April, 40k in July/Aug). The crypto rollercoaster ride of 2018 is going to be an especially bumping one so hold on tight!
totally agree... considering it has the same up and downs (dates) as last year...
These are very important considerations, but I don´t agree on the conclusions. In fact BTC and XMR would be the least cryptos I want to hold at a crash - they have way too much volatility, outside manipulation, outdated technology (as said in the video) and (hopefully) will die by senility soon.
My choices (for the same reasons stated in the video - e.g. working blockchain, proven and solid basics - but with high future potential) would be EOS and STEEM. In the unlikely case that the bear market also hits them, I would go into bitUSD or other smart cash equivalents at bitShares for a short while, before moving it back again. This is actually what I´m doing right now, since I expect further drops over the next days.
I get what you're saying here, but obviously disagree. I think that EOS is significantly more speculative than BTC or XMR. If EOS launches on mainet, that could certainly change though.
STEEM certainly has a nice platform that we're on now, but it's been susceptible to major crashes in the past as well. Thanks for the input though, great to hear conflicting ideas!
I became a constant listener of your videos a few weeks ago. Great insights and always interesting to get your thoughts.
Great to get an insight why you haven't selected steem into your top 5. Listening to your video today that was the first question which came to my mind because of your selection criteria: technology (steem is live for a long time and has proven its technology I guess), utility - here it seems steem would also be utilized even in a crash. Even though through reduced rewards user base might gets reduced.
In my opinion coins that "survive a crash" need to have the fundamentals right and be able to get through a bear market of 1-2 years. Being susceptible to major crashes seems to me more a short term argument not so relevant for long term survival of a bear market. Or what is for you "surviving a crash" - are you thinking more of a short/mid term crash of several month?
One thing that is crossing my mind is the fact that crypto's entire existence has been in a US bull stock market. Does the wall street stock market activity corollate at all with crypto prices? I'm hedging by buying and holding for the long term in a variety of sectors of crypto, so hopefully enough hold their prices to blunt the downturn.
I guess what we are already experiencing is the influence of futures on BTC -the rest is mostly irrational, since compared to the traditional stock markets, so many people with absolutely no idea what they are doing are operating on the crypto market.
I think you make a good point on the coins that will sustain during a crash. Personally I think the question it self should be which coins besides the 4 on Coinbase will hold their value. Obviously if coins are on Coinbase they have a huge advantage for that kind of market. So besides those 4 which 5 do you speculate? I think your spot on with Monero and From there personally I would add ADA, XRP, Dash, and XLM.
really good post, and i agree that the cryptos that will hold up best in a along term pullback are those that are the most widely used and most widely supported by persons of influence in the crypto community, eg bitcoin, litecoin or bitcoincash
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I would say they are all speculative at this time, most if not all are not fit for purpose at this time.
Boby you should maybe start also posting on d.tube, since you are using steemit too :))
Great opinion! I agree of your assets to hold. There will surely be a flight to quality (and utility) in case of of a continued downtrend. I wish there were more to diversify into but none others show the depth of adoption as those you have mentioned. I would also expect for BTC Dominance to get over 40% as well.
With the ups and downs we are facing in the market recently, I think that only the coins that have a solid team, marketing, and technology will truly prevail, which is why I like your list of cryptos that have the potential to survive a crash
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STOPCame from this video I like your take on cryptos, your more concerned with what you lose rather than what you gain when cashing out, I'm much on the same page. Will be watching going forward, keep up the good work!!
Great stuff! I agree with the sentiment that certain cryptocurrencies are likely to become "defensive" or "blue-chip" coins as the market continues to mature. Recent price action certainly seems to support it. And it's something for traders to keep in mind.
Looking forward to seeing more of your videos. Glad I found you and your channel... I can see why @cryptovestor follows you :)
Great video, I like your methodical approach. One coin that I think will decline less in a bear market is Dash. I say this because it is actually being used in a wide variety of countries and markets. They actively work on establishing business integration and through a treasury system which allows them to fund proposals such marketing, business development etc. For example, Ben Swann just funded his show (after being shutdown on mainstream channels) 100% through Dash. He put forward a proposal and the masternodes voted to fund him. A coin that has this type of governance structure has so much more staying power because they can reach out to non-crypto users and get them involved. Another example is that Dash just sponsored Rory MacDonald, who just won the welterweight championship division in the Belator MMA. This is viewed by literally millions of people. Dash has instant and private send features and is cheap to send as well. To support my case, I looked at the declines priced in USD in Litecoin and Bitcoin Cash (Dash's direct competition) from high to low, over the most recent correction. LTC declined 63%, BCH 67%. Dash dropped 61%. However, when priced in Bitcoin, LTC declined 31%, BCH 42% and Dash 33% (all data from Bitfinex). So you can see that Dash and LTC are competing closely here. However LTC has far greater volume and network effect. I would argue that going forward, LTC is going to come up against significant governance issues, just like Bitcoin, as the miners earn 100% of the block reward. Dash doesn't have this problem.
Muchas gracias por la información
I agree and disagree with a lot of what you said.
I agree with Bitcoin and Monero. Those two will be certain to last in my opinion, as their use case is always valuable. Ethereum I am less confident, as it has an infinite supply and smart contracts can be easily mimicked.
I would argue Litecoin and BCC can be replaced by copycats, as transaction efficiency is a very simple concept that will ALWAYS be looked to be improved upon. It is more a matter of innovation, which I think an innovative team of people could make faster more efficient coins. Raiblocks is a good example, though it doesn't have the mainstream backing or availability that BCH or LTC does.
Two I might add to this list are Decred and Vertcoin, I think ASIC resistance is an important concept as well as lack of governance, though I think both concepts could still be improved upon.
Great content as always Bobby
VTC!!