With Segwit and a growing market Bitcoin is set to remain, king, destroy many alt coins
While, it might not be over 9000 yet, its over 3,250, which is nothing to sneeze at. The price of BTC will probably continue to rise, then we will see a small price correction at some point and I project that BTC will be at least 10,000 by the end of 2018. (if we don't hit any major road bumps) Based on my research we have a clear path to 5000 sometime this year or early next year.
Will your favorite alt coins survive?
In the short term, yes. Almost all altcoins will ride the price increase wave, but then we will see a turning point. The question is, what does your favorite alt coin provide? If it is basically a bitcoin clone such as dogecoin or litecoin it will probably see a massive price correction, possibly even dying completely. However, if your coin provides something to the market such as ethereum, steem, siacoin, and more then there is a good chance that it will ride the success wave over the next year or so.
What should I do?
Well, it’s quite simple. My advice would be to keep your functional alt coins (ethereum, steem, siacoin....) and trade your clones for BTC while they still trade at a high price. Right now, if you sell your clones for BTC you won't take much of a hit. However, the longer you wait the riskier it gets. Of course, if you have BTC already you should hold. Selling now would be a BIG mistake.
What problems could lie ahead for BTC?
Unfortunately, for the BTC haters bitcoin has ALREADY overcome many of the possible hardships. Example 1, one risk to bitcoin was if the major corporations didn’t see it as a functional currency. Well, many companies have started accepting and collecting BTC in the 1000s and this will only increase after segwit. Example 2, the government trying to stop BTC because of its illegal use. While we aren’t out of the ball park yet, we saw earlier this year how clueless the government really is, when the TSA tried to "check" for bitcoins in your bags. Example 3, new coins that are "faster" or "better". This might generate some hate but coins like LTC and DOGE have failed. Let me explain why. Coins that were basically improvement clones of bitcoin had their chance and did not even come close to competing with bitcoin. Now that bitcoin has segwit these "improvement clones" are obsolete.
What do you guys think? Tell me below.
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