Rise of the Altcoins - The Final Wave - [crypto]
Wave 5 - Elliot Wave Theory?
Steem is up against BTC today by 9%+ as well as the other altcoins with some of the more established crypto coins like Digibyte (+30%), Eth (+15%), Binance Coin (+15%) and other Alt Coins now trying to follow Bitcoin’s (BTC) recent leaps up in price.
I have said before as I have told my friends, Bitcoin is the Grand Daddy, and success for Bitcoin will be success for many Alt Coins (although likely not for all altcoins).
I believe the Altcoins Like Steem, Ethereum, Litecoin and others that have first movers advantage as well as a large community (be it of users, traders or a mix of both) will Rise to sky like Phoenixes out of the ashes of the recent crypto bear market.
For example, for Bitcoin to go to $16000 requires 100% gain, which of course is very possible since it has done it before. So too for say Steem to go from $0.38 to $0.76 and make 100% price gain.
I believe the difference here, as for many altcoins, is that psychologically, for many price conscious investors, it will be easier to spend $0.76 buying 1 Steem than $16,000 for 1 Bitcoin.
That is why in the last Bull Run, while Bitcoin started coming down Steem was rising to the heavens in early 2018. At its peak price STEEM was around $8.50 or so.
If Bitcoin can hit $20k again, then Steem and many other good altcoin projects will see their peaks again too
Obviously this is pure fantasy, since unicorns and phoenixes on fire don’t really exist,
or Do They?
—- @streetstyle
Img src: pixabay
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I hope the wave we having now will keep few weeks
I think it will be longer than that @mrme1984
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@streetstyle de verdad que el mercado de las cryptos se esta comportando un poco inestable ultimamente el BTC subió de precio hasta los 8200$ de repente bajo hasta los 7300 $ y hoy Domingo volvió a subir hasta posicionarse de nuevo por encima de los 8000$ esperemos que ahora esta subida ayude al Steem, Steem Dollar y a otras Criptomonedas al aumento de su valor
Excellent review @streetstyle and I fully agree with you that all other coins begin to grow not much later and I have been observing such dynamics for a couple of years!
You are a veteran of the crypto wars I see @serkagan Glad to see you are still here with us.
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Really its good analysis among the btc and other alt coin, people will more invested in steem if it showing price rising, and steem price rising means more pay out from your post. And finally steemians who are in sleeping will sure awake again.
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Oh so very true @sheikh27
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For a year plus, we have been enduring the bear market, I think the time has come for the dice to take a swing. Just saying, still don't know what the future holds. Lez just hope the uptrend continues @streetstyle
I think this run will go on for a while setting new highs for many cryptos
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Anything can happen here
Well it's been a relieve so far really and I can say the market is turning out nicely although it's still yet to be conclusive, well I won't say bitcoin hitting 20k would be a mere fantasy it can before the end of December.
Yay, a believer!!
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Finally, we have some statistical report for favour alt coin and others, keep it up right and our smile is on!
Price up and its good sign for all crypto lover who are engage such a long time here to see a good result.
That’s right @kushtia
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