#Altcoins - 5 Cryptocurrency Investments while #Bitcoin Comes Back Down to Earth $XMR $ETH $EOS $STEEM $FCT
Investing in crypto can be incredibly profitable... or not depending when you buy and sell. It's a bit more tricky to day trade. I use a mix of short term and long term trading. I guess that's more investing than trading, but either way the obvious goal is to buy low and sell high wether you're long or short-term trading.
When Bitcoin or altcoins are making big moves and I am confident about where they are going in the short term I will definitely make short term trades to take advantage of that. For me, it's easier to be confident when trading coins with strong fundamentals so I can feel more comfortable holding longer term.
I have invested in these coins from the beginning of my crypto trading with the new addition being EOS. Dash and Maidsafe could have easily made the list, but I decided to focus on these 5 for this list.
Short Term - playing between Bitcoin and alts like Bitcoin Cash
As the Bitcoin/Bitcoin Cash drama continues to play out over the next few months, I think my favorite bigger altcoins like Monero, Ethereum, and Factom will continue to do very well, and continue to see new ATHs.
Really, just because Bitcoin recently hit an ATH and now will come down as it always does, and money will continue to flow into altcoins. Once it finds it's next low, I will be getting back into Bitcoin when it comes back down to possibly around $2000 to $2500. For now I will be looking at Monero, Ethereum, Factom, Steem and even Bitcoin Cash to see what people flow into as Bitcoin comes back down from the moon.
Long Term - EOS and Bitcoin
For the long term I will be interested to see if there is ever the Flippening or the Cashening. I do think BTC will be the winner and continue to grow in value but I will watch the drama on the edge of my seat.
I will also be watching EOS very closely to see if it will overtake ETH as it will have the scalability to do so plus if it works as brilliantly as STEEM, being instant(3 second block times) and free(zero transaction fess) it would seem to have huge potential for businesses. There is also a huge amount of interest in the project and big expectations from Dan Larimer. It looks very interesting to me, especially now as it is trading near the initial ICO price!
DYOR
Don't forget to do your own fundamental and technical analysis.
My first crypto investing article on steemit now has over 7,000 views!
https://steemit.com/cryptocurrency/@richardcrill/5-best-cryptocurrency-investments-for-2017
Great suggestions. You told me a few weeks ago about STEEM having zero transaction fees, and I've been thinking about that a lot. I think it's a highly underestimated feature. And Monero's features are also underrated. I wouldn't be surprised if those two are #2 & #3 in market cap someday.
And I hope you're right about the dip. If bitcoin goes that low, I'm going to put every spare cent into buying more coins.
The most important is to invest in coins that have a real world application or otherwise the coin will die.
i totally agree, some concepts we are still just imagining into creation too
I have resteemed it.
Thank you.
Richard, as an American I seemed to be restricted on EOS. EOS seems intrigueing and I want to get in Roy, but officially I am denied. What's going on with recent rise in Monero and Ripple? Thanks great article I am following in your footsteps. Upvoted and resteemed
Your timing will take you places, if you can buy low and sell high, you are good to go. The risks sometimes are worth if you focus on the benefit. Good line of thinking and a great read. Thank for sharing.
Cheers Richard. Appreciate the advice. Resteemed.
Cheeers
EOS is very long term. Now it took such a big dump it can not be considered trading at all, just long term investment.
Interesting analysis, and opinion, thanks for sharing your thoughts and your ideal portfolio. I agree expecially on Factom, and me too put some faith on EOS, and i Love DASH, that you atm left out. I see too optimistic a down to 2500-2000 for BTC in my opinion we will never see again a low under 3000$.
I follow all of those. I've also been happy with my returns on ARK and plan to hold long term. I feel as if ripple is primed for an uptick as well.
I have felt like I missed the boat on ARK ;)
I like the Steem play, this baby is gonna pop. I sold my EOS a few weeks back and will buy back in around January. I like my coins to make me more coin.