Most people are transfixed on the price of Bitcoin. How much will it be in the next few years? When's the bottom gonna hit? How much can I buy or sell on the way down? But that's only judging the market solely on it's fiat valuations. I see a much bigger opportunity presenting itself via the altcoin markets...
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Two coins I'm particularly paying close attention to are Steem and Stellar. Both are at or near record lows versus their BTC counterpart. So, instead of ploughing more fiat into your portfolio, trading this setup may prove a substantially better way to acquire more Bitcoin and thus hold onto it or exchange it for an altcoin of your choosing. Any market that is at an absolute rock bottom (which a handful of alts currently are) means we are at an "extreme" given the spectrum of it's previous values. The same could be said of Bitcoin when it was at it's all time highs. It was at an extreme "high", therefore a drop made more sense than a sustained run.
Now, I know what you're gonna say next. "But if there was a range for Bitcoin, look how high the price went last year." That's absolutely true with BTC certainly opening up the playing field with it's monumental run toward the end of 2017. But two things must be considered. Firstly, I see Bitcoin as very undervalued, even when it reached an all time high of $20,000. Of course, we needed a correction but the overall trend was still well and truly up. And this may come as a surprise but the case hasn't changed even after the great fall, with some major long term indicators still supported a strong bullish case for BTC going forward. The second reason is that price-wise, the room to the downside is now very limited to scope. The bulls can run into the six figure numbers or more over time, whereas the bears at present, only have just under $4,000 and zero to move within.
So, taking that exact premise, the same can be said of Steem and Stellar. We are so low that price movement is fast running out of space to breath. And we've already got historical data to show that price has already visited much higher levels in the not-too-distant past. Therefore, it's safe to assume that future testing of those price points, could definitely be on the cards. The way I see it, they're pretty safe trades and could work out real nice for you over the medium-term.
So remember, real opportunity presents itself in a bear market, not the other way around. Seize it whilst you can and thank yourself for it afterwards...
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So many alt coins that have so much opprotunity. The real alt coin projects are starting to become more well known now and understood.
The time is drawing near. :)
Also worth taking into account that the multiples for the likes of STEEM to reach its previous ATH is one heck of a lot bigger than for BTC to reach its ATH....
Crazy to think of the potential, right? :)
Buying when other are fearful is always a good strategy at least according to history... I am looking closely at bitcoin dominance as it continues to be above 50%. I think that if it goes below that number, we can see altcoins (that survive) go for a good price run.
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BTC's had a good run. Now it's the alt's turn.