UPDATE: Cryptocurrency Investing Strategy - August 2018
Here's my take on how cryptocurrency investors might wish to try and manoeuvre August 2018. Enjoy!
DISCLAIMER: This is NOT financial advice. I am just offering my opinions. I am not responsible for any investment decisions that you choose to make.
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Major altcoins will moon eventually if a Bitcoin ETF is given a go-ahead but not immediately. We did see a huge outpouring of money into altcoins in early January 2018 to a large part from Bitcoin.
My biggest regret is not having invested in Ethereum and Ripple in the second half of 2016 and the first half of 2017. The returns would've been ridiculous whereas gains in the price of Bitcoin were remarkable but at least an order of magnitude smaller. I feel like an idiot for not delving into the space properly a couple of years ago. I do believe coins like EOS and STEEM have a great deal of growth ahead. It depends on how sound their fundamentals are. Steem the blockchain is gearing up for scaling massively and already has some of the promised interfaces and scalability updates released. The SMT protocol will be rolled out probably within a year. If the entire cryptocurrency space is going strong when that happens, there will be explosive growth in the DPoS coins designed by the Larimers.
The slow start of Steem the ecosystem is perhaps a blessing in disguise as it allows the current crop of Steemians to keep stacking up the coins relatively easily before breaking into the mainstream happens.
I find interesting your ideas and i want to share mine, so i like to find coins with historic low prices and buy for then sell them with some gains between 50%-80% and that can drive you to interesting results in your bitcoin wallet because the most strong coin is bitcoin and we have to try to earn more and more playing with alts. Regards
As of now, considering the past few days, the sentiments are improving and there is general air about how the next bull run just might start. This scenario is not entirely implausible of course but if past few months have taught me soothing is that, I shouldn't hope for too much.
I also think why so many established people in the cryptosphere feeling bearish might actually be onto something. There is no harm in feeling bearish. If it goes down then it was what they predicted and if it goes up, they'll take the profit and await for the next low to buy in an even greater stake.
This is just how this works. As for me, I feel a bit tired of this constant buying and selling and I HODL as much as for the fact that I trust crypto but also to maintain my sanity in the volatile markets.
If ETF will happen, then it will happen and if it doesn't then we'll take a dip and bounce back later. Alts on the other hand I feel have taken an epic battering, just like you said. They probably will bleed some but they have done their share of bleeding and I think might be relatively safe in the next battering to come.
After a 30% increase in bitcoin I would hesitate to add positions here as mostnof the increase is due to the market expectation of the ETF approvals and the lack of sellers in the market. Therefore, the risk/reward is not really positive given that ETF could be rejected or could actually be approved but lead to a “sell the news” approach. However, pullbacks may be an opportunity and of course any time is good for a long term hold approach.
I do feel like we are bouncing on the bottom.
Let's hope this will create a nice platform to launch from.
If that's the case I see both BTC and altcoins moon! let's hope for the best
Looking forward for btc to moon. I too believe no matter the news btc should benefit the most. Thanks.
You're right a lot of other coin are really taking a lot of battering I think bitcoin investors may not really have much decision to make rather than to keep investing can't say much for altcoin
Bitcoin ... Let's see as I have bought alts already from my BTC :p
You have some good points here ,i really hope that will work for you well
Hi sir @louisthomas your investment opinions is very helpful and effective for us. I believe bitcoin is the most standard coin for investment. Every investors get a lot of profit from here. As we invest more and hold it then we will be also a successful investor. Your daily sharing helpful investment advice enhance our investment knowledge.