Hedging on Bitcoin with Litecoin.
Considering all the FUD
With all the Fear, Uncertainty and Doubt going around about the "That Which Must Not Be Named," I decided to dump the majority of my BTC into Litecoin. I've held through the highs and lows over the past four years, always a casual amount - nothing too crazy. At my peak I was holding 1 BTC but I've now diversified into a few other coins over the past year or so, and from there went down to even fewer.
The few chosen coins, which appear to be the safest are:
- Steem (Buy 'em all and let God sort 'em out)
- Litecoin
- Ethereum
- Ethereum Classic
- Dash
I hold a few bucks in Ripple, Sia coin and Basic Attention Toekn as well, mostly because I missed their high water mark and I don't want to lose money on the transaction -plus they are interesting, so why not?
LTC seems to be weathering the storm nicely. Many of the people we know see it as the best hedge for the incoming correction.
Who knows what will happen really...
We're holding LTC, BTC and some other long play coins right now. It's hard to say how this is all going to shake out, but the reality is the coins you invest in are only worth what people are willing to buy them for.
So be careful. It's all a crap shoot. You could cash out to fiat and miss the uptick, buy into LTC and watch it crash. It's hard to say how its all going to pan out in the end so what we have done is picked 10 coins we see value in and spread the butter. We'll lose on some, make gains on others but so far we've stayed pretty even keel.
True true, I'm still holding some BTC for sure. What I'm really hoping for is BTC to take a dive and LTC hold it's value so I can buy back at a lower price - which I'm sure many of us are hoping for. ::Fingers Crossed::