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.
The cryptocurrency market is a rollercoaster! Let's see if altcoins will make a huge jump this year. I can see it, due to the fact that many altcoins are technically more superior to Bitcoin (ie. IOTA, Steem, etc.)
I also wrote an article about money, specifically how Wealth Inequality is Inevitable
. I address the wealth inequality heavily prevalent in Bitcoin. I would love to hear what you think?
Nice post.
Lets hope it picks up soon.
Start of Feb , i think ?
HQ AltCoins is our choice (BTC only for preserving) for capital appreciation. RLC, ICX, ZRX - some of our picks. What about yours?
ZEC is a great hold as well, I think 2018 will be the year for privacy oriented protocols. Considering the attention that crypto has acquired with last years rapid growth.
I like XMR and STEEM for capitol appreciation.
Possible, could be any day that it really takes off in my opinion. Just have to get the scared money out of the way first.
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Great opinion but what do you think about the huge amount of energy necessary to keep bitcoin network alive ? It will obviously become one day an issue and maybe alt coin could have some benefits because of improvement and better software ..
I would agree that energy consuption is likely the most threatening element assiciated with bitcoin mining at this time.
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great article , keep the good work
Year 2014. $1000 -> $250.
I will just leave it here:
I think that 2018 is the year of altcoins. I agree that seeing BTC dominance stay under 50% will be good for alts, but I would prefer to see it under around 42% to really push alts up - I think LTC has a great year ahead, in my opinion!
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I believe in altcoins very strongly as well. People need real life user cases and not digital gold hoarded by first movers.
So I think the projects that are best at bringing the common people in without feeling that they were late for the glory days will succeed in 2018. Because this is the year of cryptos for the masses!
There certainly is a lot of new money coming into the space, and altcoins are getting their fair share, I think that BTC dominance being down in recent weeks proves as much definitively.
good post
Thank you very much! Glad you enjoyed!
"cryptocurrency economy sits firmly on the shoulders of bitcoin and can’t survive without a thriving bitcoin."
Maybe that is why other altcoins like KAT is now conducting trading contest? Is that factor can really help btc?