Time For Correction
Bitcoin and Ether hit there new ath's this past week and it's time for some correction, here comes a huge sell off, then consolidation, then the next rise. Here's the current charts:
Alt's To Watch For
Siacoin, Golem, Ripple, Stellar, STEEM, SBD, Bytecoin and many more really. Now that Bitcoin and Ether have peaked people are selling for profit and buying back into alt's while they are down, this will in turn create a new pump for alt's creating more new highs.
This is the cycle, some crypto's profit, other drop, then it flips.
My suggestion, spread your money over many different alt coins to profit as much as possible, also wait for Bitcoin and Ethereum to bottom and buy back in as crypto's are beginning to be noticed more around the world
You are absolutely right.
One other idea if you're into longer term investing is buy a smaller amount regularly, for example every couple weeks or month or so. This might spread out profits but it also spreads out risk - you can't predict where the market will go so it evens out over a longer period.
The trend for cryptocurrencies so far has been generally upward despite the wild swings and they're still a very new technology so nobody knows where it's really headed yet. Of course there's still possibility of a major crash but that remains to be seen for the time being.
Standard disclaimer: the above is not investment advice, it is me speculating on investment strategy. Please do your own research before committing your money :)
I agree long term you should hold some, dollar cost averaging it is a good way to go. However for active traders now might be a good time to buy in for alt's.
Yeah that's a fair assessment if you believe the market will go up from here. I personally think there's potential so I'm hopeful, but for the short term I'm not really very sure hence the longer term strategy.
I think we might see a pump in eurocoin. watch out for dead cats coming days / weeks. now is a time you can make high profits with short trades if you play your cards right, but if you're not going to watch the markets every other hour spreading your position may be helpful to average out your portfolio volatility
I agree, day trading can be tough with other commitments, but if you have the time to do it and you do it right you will see some pretty nice returns.
Litecoin, Litecoin, Litecoin. It' s litecoin's turn.
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