Bitcoin showing its weakness against alt coins. My top pick in 2018.
These images show a lot.
The first image to the left is Bitcoin daily transaction volume collapse. Second image is Bitcoin fees and third Bitcoin's loss of dominance since blocks became full.
The most worry some is the daily transactions are the lowest in 2 years.
Cryptocurrencies valuations follow Moore's almost to the T. Currently, Bitcoin is highly overvalued and certain Alt coins highly undervalued.
In 2018, I a near certain we'll see the same bleeding of BTC dominance to top Alt coins. It still does not mean BTC prices must go down but its extremely likely Bitcoin underperforms rest of year.
The great news for Steem is that its the most highly transacted blockchain in world with key updates rolling out in 2018 to make it even much better.
Another impressive coin is NEO. Daily transactional volumes growing exponentially since rebranding in Aug. 2017. Many quality ICO's launching on NEO this year. I am have been very bullish on NEO since $5.
Here's the daily transactional volume on NEO since launch. The chart couldn't look any more bullish for NEO.
Maybe one day I can do an overview of NEO. In my opinion, this will be one of the best coins in 2018. I expect it to reach into the high triple digits this year.
Good luck investing and I like to always remind myself:
I feel like LTC and ETH will take over BTC’s dominance.
Yes, I am near certain some alts will. The next three months are going to very interesting. When ETH makes the upgrade to Casper, that's when I think there will be major run against BTC in those months leading up to that. Alts are killing it with the developments. One little alt coin I have been into following since last year Smart Cash has been making major, I mean major developments to be wildly user friendly and used in future. LTC I am bullish but have no position there. LTC show good fundamental usage too and with it being around so long its not going anywhere.
LTC is starting to become more widespread. I wouldn't be surprised to see LTC hit $500 within 3 months.
wow..very good information...and very well post..
Dear friend @hedge-x
I really love this post..
thank you for this post sharing with us...
I just #Resteem and #Upvote done...
I love that quote, that sums up most of my investment strategy.
I learned it the hard way though... But I think the future will be bright!
Sorry meant to say Metcalfe's law, not Moore's. https://en.wikipedia.org/wiki/Metcalfe%27s_law
Great post. That quote from Buffett is a great one. Think it is very wises words. Keep up the good work.
Thanks.
i don't think that altcoin can take over bitcoin's place... i liked the last quote
Yes, this is obviously an opinion as no one can predict with 100% accuracy. I only go by the data and longterm trends.
very good information D:) @hedge-x
thank you for this post sharing with us
i'm new joining steemit and new to your blog
I have a little in BTC but my bags are heavy with alts. DBET is my biggest HODL.
Yes the ICO bags are getting heavy. I'll probably buy more tokens off the exchanges from a few of the more recent ICOs (last three months). Many are selling 1/2 to even 1/5th of ICO price for no reason than Noobs panic dumping. The cheaper these those get the better ROI by end of the year or whenever the next FOMO wave starts. Volatility has sunk to records lows which means a period of a new volatility is coming soon. In my opinion, $10,000 on Bitcoin is the new base and $800 on ETH. The next move upwards in Crypto will be epic. The one that carries market cap into the trillions. By end of this year from what I see.