Time for altcoins to shine?
With the announcement of Bitcoin futures investment launching on the CME as of December 18, 2017 and later on NASDAQ in June, 2018, this might be an excellent time to expand your altcoin portfolio.
It's true that the launch of Bitcoin futures has created a sense of legitimacy regarding Bitcoin. Doubtful investors are beginning to believe that it could indeed be a genuine, if not extremely volatile, investment. Therefore, the price has been skyrocketing.
But stop and think for a minute. Let's not forget the origins of Bitcoin. Originally envisioned as a way to counter corrupt, manipulative banks, Bitcoin does not entirely fit in with this new Wall Street scene. It is, and will remain, an outsider.
And many of the long-term hodlers of Bitcoin may not be too keen to see this "open-arms" welcoming embrace from the likes of Wall Street. There may even be a sense of disillusionment amongst these earlier adopters. It is possible that this might signal a big change for many of these investors.
Altcoins like Litecoin and Ethereum will likely see a substantial rise in trading volume as the Bitcoin futures date approaches. If the CME futures have a dampening effect on Bitcoin's price (which they should since investors may choose to short-sell), many long-term hodlers may decide it's finally time to move on. This could create a network effect if enough traders move their funds to different cryptocurrencies.
I recommend investing in a range of altcoins to protect yourself from a possible dramatic crash from Bitcoin outflowing to altcoins.
*This is not professional trading advice - just my opinion!
Thanks for updating and sharing your thoughts...i am well positioned in Alts...lets see now
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Well hopefully the world opens up to their eyes to the advantages that STEEM has over so many other altcoins. The potential of this blockchain is massive, blogging is only scratching the surface. The stability of SBD and it's potential as a useable currency, the information storage capacity, the ability to revolutionize the value of attention on the internet are but a few ways that STEEM brings massive value to the table. I think if people really start taking a look into altcoins and want something other then smart contracts or anonymity, they will find their selves here, and we who are here now or are investing now will find ourselves with a real game changer.
Completely agree! Well said. It is revolutionary, and will change the way that economies function.