There is Blood in the streets

As many of you know the Cryptocurrency market is experiencing a downturn that to many novice and un-informed investors is a signal to run for the hills. To those of us that area bit more experienced and value focused this is a sign to make some good buys. now there is a lot of news out there that is effecting the prices on the market but the chief drivers are currently 1. The Bitcoin Civil War over the implementation of SEGwit(segregated witness) and 2. The volatility attributed to the growing numbers of Ethereum token based ICO's. at the time of writing bitcoin was trading near $2000 and Ethereum is around $180 , with analysts believing it will drop further before stabilizing and possibly turning around.

It is a pivotal time in the crypto community as one of bitcoins growing pains is having a major effect on the greater market it may be time to diversify your cryptocurrency holdings in order to avoid losses or even possibly being unable to move/use your bitcoins. Luckily there are many coins that are down currently but will turn around and are likely to provide great returns despite or especially because of high volume movements out of bitcoin to alt-coins or fiat currency. One interesting theory is that many traders are cashing out of cryptocurrencies and moving into conventional stocks whilst they wait out the turbulence. In the last 7 days Bitcoin has lost 18.2% on Coinbase while the S&P 500 index is up .47% and the DOW is up 0.39% in the same period, now this isn't a definitive correlation but it is an interesting coincidence.

With that being said I don't think right at this moment is a good time to just jump into buying bitcoin because its likely due for further sliding at least until the SEGWit argument is settled (its a good idea to not liquidate all your bitcoins). That slide has a major effect on the prices of the various other currencies which leads to great deals on coins that could net you a good return down the line. There are many ways to choose which alt-coin out there to grab but I prefer to focus on those that have a strong community & real world applications. Now I know that does not narrow it down that much but it does help steer you in a good direction and avoid falling for hype.

I am currently planning on making investments into 10 different alt-coins to diversify my holdings.

1. Litecoin: I plan on investing in Litecoin because I believe eventually it will be recognized for its faster block-speeds and also stands to gain from the woes of Bitcoin depending on how things stabilize.
2. Monero: I like the odds of Monero picking back up and getting near its all time high of $55 from its current price of $33. this is likely to happen after things on the deep web stabilize from the loss of its largest market Alphabay.
3. Zcash: Ill probably wait a while before buying into Zcash because i believe is has some further sliding to do thanks mostly to the fall of Alphabay. eventually Zcash too will stabilize because of its utility and popularity.
   4.Ripple: this should probably have been number 1; Ripple has held strong to the #3 market cap spot since it began getting heavy press for it acceptance by many of the worlds largest banking institutions. Eventually ripple's price will move upward back towards its all time high and beyond. This will likely happen once it becomes a little easier to use, I also don't think it will ever get as high as bitcoin but a change from $0.17 to say just $4 is lucrative; at that point if you bough 1000 XMR now it could turn to $4000 for a $170 investment!

Right now all of these currencies are way down from their highs this year. Although there is a grim scene right now there will be a turnaround so with a little effort you can minimize your losses and enjoy some profit down the road. Check out my next article to learn a few great ways to start generating profits daily with cryptocurrencies!