Alt Coins vs. Bitcoin 2018
In recent weeks there has been a lot of market uncertainty, contrary to the several weeks period prior where it seemed regarding alt coins that there were no losers. There are too many altcoins to name that realized anywhere from 100-1000% growth in less than one month. Market uncertainty, or a correction, in this case, is required to create stability in an extremely volatile environment like cryptocurrency trading. This correction also makes things much clearer for those of us who are interested and paying attention to who the real long-term winners might be.
The amount of new money coming into the crypto space created an overwhelming buyers’ market, which of course is what led to these dramatic increases in price. With that, new accounts were being created on the most known and trusted exchanges at a rate that had never been seen before. So much in fact that these exchanges had to suspend new account creation.
I’m a believer in a strong altcoin year for 2018. Bitcoin is hovering around 35% of the total cryptocurrency market cap and has for around a week or so now. The magic number is 50% in my opinion. If bitcoin remains under 50% of the total crypto market cap, for my money, altcoins are the right play. For most of us, we are using this never before seen growth in altcoins as a means by which to increase our total bitcoin position. I believe strongly that the entire cryptocurrency economy sits firmly on the shoulders of bitcoin and can’t survive without a thriving bitcoin.
As always this is not investment advice and I am not an investment banker. I only talk about the investment decisions that I make for myself, based on the knowledge that I have gathered and what I believe to be the best decision for someone in my position. Good luck investing and positive thoughts toward a thriving cryptocurrency market in 2018.
