Bitcoin almost $13000, Futures on the way, Tether corruption: What would you invest in?
The past two weeks have seen a massive surge in the price for basically all cryptocurrencies. I am debating what the next reasonable thing to do is.
It has been a crazy 9 months - everyone who has held their position has no doubt seen big returns on their investment(s). But with traditional investors and the average Joe flocking to join the party, the Bitcoin price soaring and FUD (fear, uncertainty and doubt) being thrown around everywhere - it's difficult to look at the situation with a level head.
Prominant investment techniques:
- Playing safe / big names: Bitcoin, Ethereum, Litecoin and BCash.
- Middle ground: the big 3 or 4 plus a small diversified portfolio of, mostly, top 100 altcoins
- High risk: Re-invest gains from Bitcoin increase into much smaller altcoins hoping for massive gains
- Miner: Whether mining from your graphics card or purchasing Hashflare or Genesis contracts
- Bitconnect: Watch interest compound on your BCC token/USD (a ponzi scheme for the regular user who doesn't obtain referrals)
There are of course many variations on these strategies and many who are still waiting for a "correction" to jump in.
I guess I'm part of the middle ground - I predominantly stick with the Coinbase options and attempt to diversify with altcoins that have a good product/service and a strong development team. Marketing is evidently also super important.
I've been following the news with regards to Tether potentially manipulating the market for a big short once Futures funds open to the general public. It seems like there could be truth to this theory.
With the price of Bitcoin at 12800 and rising I wonder what the next reasonable thing to do is. The options are as follows as I see it:
- Take money off the table and secure initial capital
- Invest with caution on the most credible (top ~30) altcoins
- Hold, and don't do anything
- Continue to buy Bitcoin
My main considerations are that if I were to take money off the table I would most likely just want to re-invest in Bitcoin or top 30 altcoins.
If I hold and don't do anything, I could miss out on the potential of growing altcoins.
If I buy Bitcoin and this whole Tether/market manipulation thing is legit - it will, of course, be a massive pain in the ass.
To me, the current Bitcoin price seems unstable and potentially bubble-like. I truly believe in the technology behind the Blockchain and it goes without sayin that Bitcoin has firmly established itself as a force to be reckoned with - saying that, we are still a long way from "mainstream adoption".
This is, again, just me voicing my internal debate out-loud. I don't know if it is interesting or useful and I am no way offering investment advice.
Does anyone else have a similar dilema? What are your investment strategies over the short and long term?