I've been doing a lot of research in crypto for the last 2 years, and I'm definitely waiting and hoping for the next bull market which I think will be inevitable. I've tried not to focus as much on when the next bull run will be, but rather the position I'd like to be in when it happens.
There are a bunch of new cryptocurrencies that have been created in the last week, last month, and thousands I believe since this time last year. The only thing clear to me in crypto is that the top coins seem to be holding their positions in terms of market cap for now. Bitcoin is still the top coin, Ethereum is the first altcoin listed on CMC, and XRP, EOS, Litecoin, Bitcoin Cash, Stellar, Tron, and Binance coin have all held their rank on CMC for the most part. I'm probably leaving out a few coins here.
If you look at the historical charts from yesterday of last year you'll see how much things have shifted: https://coinmarketcap.com/historical/20180225/
Also, if you look at some of the top coins from this time in 2017, you'll notice that the top coins have shifted positions a lot. https://coinmarketcap.com/historical/20170226/
The reality is that this bear market has already wiped out hundreds of projects that seemed promising at the time, and now they are either barely surviving this market or they have run out of money to continue to develop their project. Some of the developers of these coins have just given up. I believe that much of the weak hands in crypto have already been shaken out, and even if we drop to below a $3,000 BTC or a bit lower it probably won't bother a lot of long-term investors in crypto.
I believe that every bull/bear market in cryptocurrency not only has its scams, but also it's opportunities if you look in the right places. In the last bull market we had plenty of low market cap coins that ended up soaring to new all-time highs only to crash really hard a few weeks later, and some of them are no longer listed on any reputable exchanges.
Even though we are not in a bull market, it is still possible to make money in this market. And I've been telling myself over the last few months that if you can make money in a bear market, then making money in a bull market will probably be much easier.
The best investments in this bear market I think will still be the best investments in this next bull market. If the team behind the coin can't continue to work through this bear market, then they will never make money in the next bull market. I believe that a lot of the weak investors have been shaken out, but also a lot of weak teams have been shaken out. And if they go quiet in this bear market and suddenly start being active all of the sudden in this next bull market, then I won't even be throwing them a single dime.
The best teams or investors seek out new opportunities even in a weak market, guard and protect their risk/reward tolerance and find new ways to innovate, work more efficiently and continue to update their investors with their progress. Unfortunately, the reason a lot of these teams have dropped off in this bear market is due to their lack of experience, greed, and of course several other factors.
Of course, the weak market has also allowed some much smaller projects to gain the attention they deserve for continuing to work hard and show investors new opportunities to make money. The bull market of 2017 seems like it was all about those small cap cryptos, but I think the next bull market will allow a lot of Dapps to shine.
If you haven't been keeping tabs of a lot of the Dapp activity in this bear market, then these are the sites you should pay attention to: https://www.stateofthedapps.com/ https://dapp.review/explore/all And https://dappradar.com/ Just keep in mind that some of these Dapps shouldn't be trusted.
This is not financial advice, cryptocurrency is risky. But where there is risk there is also reward.
----What are your favorite coins/Dapps that you're looking forward to this year?
Some of my favorite projects (that aren't the almighty Bitcoin) are Storj(STORJ), Golem (GNT), and Mysterium(MYST). They're decentralized storage, processing, and VPN endeavors respectively. Hope they're not in the weak hands category.
As far as Dapps go, I don't really know. I'd like to see a good Dapp game of some kind, what I've seen has been disappointing. Maybe it's not the best architecture for a game though. Dapp DEX seems an interesting concept, I could do with a bit more of that in my life.
Gods unchained is the game you're looking for
I can definitely see a use case for Storj, Golem, and Mysterium. I've been around long enough to know those projects well. That trade volume on Mysterium is very low right now, so I would classify that as a higher risk. I'm looking forward to War Riders and Crypto Space Commanders because those won't be the typical point and click crypto games.
Any coin with a big community 😬
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Yeah, that's true. Bitcoin, Ethereum, Steem, Litecoin, EOS, Tron, etc.
My favorite coin that I beleive will be bullish this year are Grincoin, steem , Eos and litecoin . There are some new good dapps that I beleive will be valuable this year mainly eosknights, tronbet and most of these dapps are in the gambling niches and you know for sure that gambling niches is very lucrative
Grin coin is definitely interesting. I worry a little about the infinite supply though, that makes it hard to invest in. Can't go wrong with Steem, EOS, and LTC, those have stood the test of time in my opinion. I enjoy the gambling games too, but the more sustainable Dapps will be the ones with more gameplay and character creation, etc.
For me it’s mainly Monero, Komodo, Steem and Stellar. Trying to have a little diversity. Steem games kill any dapp games right now just based on gas fee and block times. Komodo has Barter Dex, atomic swaps.
Personally, I'm investing in LTC, mining BTC on nicehash, and mining Doge on Eobot. And that's in addition to my Steem. I figure that's a diversified enough platform to start on that I'll be able to work with it.
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I haven't used nicehash before. How profitable is it for mining BTC or LTC?
Back before the crypto winter started, it was quite profitable for my measly little GTX970 at the time. If you're unsure as to how well it will work for you, you can always check their profitability calculator to see how your GPU/server farm will hold up. On my newer computer, I get 0.001BTC about every 5 days. That's running both my CPU and GPU for mining, and keeping things nice and cool.
For reference, I'm running a GTX1080 and a Ryzen 5 2600X, and I get about 0.00018BTC/day.
Thanks, for the info. I think my electricity costs are probably too high right now to make mining profitable, but I'll look into some legit cloud mining services out there if any of them still exist.
And if you're looking for cloud mining, Eobot is one of a select few legit mining sites. Obviously, that comes with the caveats of long term planning, no get rich quick schemes, and waiting, especially if you're American. American customers cannot purchase mining contracts of any kind, so we have to rely on their faucet and other shenanigans for hashing power.
I'm still growing well there, though. If you want to check them out, use my referral link: https://www.eobot.com/new.aspx?referid=1402007
And my DMs on Partiko are open if you have questions.
Honestly, I'm mining now because it's not profitable. People aren't mining, so I have more opportunities to earn more. Once prices go up, those coins will be worth the cost of mining. Since I'm hodling like crazy right now, it doesn't matter to me if the coins aren't worth the electricity spent. I'm sitting on 0.007BTC and I'm gonna ride it to the Moon!
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Of course steem the best its rise very fast
yes ♥
I still believe in bitcoin even though at this time the price is still falling.
Komodo - I don't know if it's good time to buy but it's a unique project. Mobile atomic swaps are coming, lots of pow coins use Komodo's dpow to secure their coins, you get 5.1% annual interest for just holding kmd and the list goes on.
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Thanks. I'll have to take another look at Komodo.
I like ethereum and steem i save them
I like pundi x and I believe that this token will rise up in 2019
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Litecoin , BNB , BTC , STEEM , XRP , ADA
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Although there are hundreds of digital currencies today they compete for the strong cryptocurrencies differ in terms of volumes market value and several other criteria making a currency better than others and the emergence of many new digital currencies that are rising strongly and quickly disappearing which has undermined investor confidence in their digital currency investments
I hope that all coins will remain a favorite thing, but we should also look back at the coins that are developing now because there are also many coins that are deceiving for now