Ok, this is the real reason why Altcoins are going up. Don't listen to the news saying their technology has improved or they added a new thing. ITS BTC ETF!!!! Some people think, a ETF will pass this September. If it does, the altcoins will skyrocket. Bitcoin is not going up now, but it will skyrocket if an ETF passes.
Think of whatever altcoin explosive rise plus btc price times 2x-3x with an ETF. We are talking about some altcoins rising possibly by 10x n probably more. The penny coins, like dogecoin, stellar xlm are the once that will rise like crazy. Remember the XRP was the largest rise over 12 month period, that was worth pennies at the beginning and rose to over $2 per coin.
I'm not saying an ETF is definitely going to happen, but some people are thinking it is. Watch if the ETF fails, the altcoins may drop some. Although, it is likely SEC will push it off to next year. The problem with SEC is they still think the USA runs the world. It doesn't they can't control the price of Bitcoins. Ever since 2008-2009, Lehman Brother Collapse, the USA have lost it's grip on the world's money. They don't realize this. They still acting like it's the same as before.
** Disclaimer This blog is based on my opinions. I am not giving professional advice. Anything written here should be taken as an opinion and is the responsibility of the reader to take due diligence as such. Basically saying I may be wrong, right or neither, just saying its my opinions and my voice.
Hi
I agree with your opinion. I have few Dogecoins that are more than 25% profit now. I dont know if I should sell or wait. Thinking about that and suddenly read your post. I might wait for a while.
Thank you
It's a risk. U are for sure of a profit now. However, if the ETF fails, the Dogecoin might drop. Maybe put a limit-stop order to sell, if it drops to a certain point. So that way your have some kind of a profit, instead of none or a lose.
Sold some today. If it goes down i will buy in. If it goes up I will sell more.
All good
Also would be surprised of SEC actually does pass an ETF. But who knows, it could be a toss of a coin.