Bitcoin has continued to rally over the past few days as concerns over the "Cashening" subside. The high negative correlation between Bitcoin & Bitcoin Cash have reduced, meaning it now makes sense to own both if you are so inclined. I continue to hold Bitcoin as I believe we are about to enter another bull stretch as stated in one of my previous videos. I bought into Bitcoin at an average buy-price of $6000 and at this point consider it a certain buy at any level below $6,600. Moderate buy at levels below $7,500, but not if you aren't comfortable with the investment (e.g: I wouldn't do that personally even though I see strong potential for going higher).
Ethereum is still a strong holding due to high transaction volume and widespread use (relative to other cryptocurrencies). My primary reason for investing in Ethereum initially was because I felt it was grossly underappreciated against Bitcoin and that the Bitcoin "war" between Bitcoin and Bitcoin 2X would be the catalyst that lead to higher capital inflows for Ethereum as investors fled. However, when the hard fork was called off, I continued to hold for value reasons. Interestingly enough, Ethereum didn't do too well when Bitcoin Cash was spiking, but is now "taking off." As mentioned in prior videos, will hold til $400+.
Many people have asked me about Dash. I continue to stay away, but not for same reasons many people are. Dash has similar valuation to Litecoin, but a 3rd or less of its transactions. In addition, I've seen several times that the DAO structure with treasury has actually destroyed value rather than create it, so I am skeptical about its future. Litecoin has better community support, more transaction volume, and less controversy. As such, I do not consider Dash an attractive investment at this time.
I am bullish on altcoins as a whole; I suspect they will do well just as they did in the better half of August. Still prefer focusing on mid to large cap altcoins rather than always looking for "10 baggers." Obviously goes without saying that all of this assumes no major unexpected catalysts. I would love to hear your thoughts as usual. Thank you for watching.
