If you want to HODL your Bitcoin, go ahead. But there are good reasons to move your money into other cryptos at the moment. More and more we hear about congestion of Bitcoin transactions. Posts about the ridiculous fees are more frequent too.
I mean, it was enough for Bitcoin Cash and other altcoins to appear with the mission of resolving this problem.
I don't foresee an improvement anytime soon with regards to the cost of Bitcoin transactions.
With large institutions coming into the Bitcoin market, we will probably see more volatility.
My guess is that we will see a big crash before Bitcoin resumes its climb to newer highs.
So, in short, here are reasons why you would want to move away from Bitcoin:
- transactions are becoming more expensive and congested
- price swings might be amplified by participation of larger institutions
Based on those reasons, the crypto that you should invest in instead are:
- Litecoin
- Dash
- Ripple
We also have the psychology of numbers in play. It's easier for a crypto currently valued at 300USD to go to 3,000USD rather than for a crypto currently valued at 20k to go to 200k. In both cases the increase is 10x. So if you'd like to 10x your money, you have a higher chance at the other altcoins at the moment.
I myself bought Litecoin when it was at 40USD and in 3 months, it is now nearing 10x gains.
