Will altcoins rise after a bitcoin correction?
Now let me tell you , yesterday was a wild ride!
Many of us who have much invested were glued to the charts as bitcoin broke through the $10,000 usd barrier people have dreamed of. But it didn't stop there, oh no it just kept on going all the way up to approx $11400 usd! What an impressive surge! After reaching far beyond what most experts predicted it finally had a meaningful correction, all the way down to appr $8700 usd. With $1000 usd 30 min red candles it broke down rather quickly like it usually does. Bitcoin once again showed its strength and recovered approx half of it's downward correction and has been floating around $10400 today.
From my experience and many may not agree this time but typically when bitcoin has a meaningful correction like the one last night, it tends to cool off and consolidate for a while. Its very important to look at the trends from past charts to see that when bitcoin consolidates for a a while, altcoins finally have a chance to really experience sustained growth like! Many of the top alts have already experienced some healthy gains just before bitcoin went haywire but it came to an abrupt halt as bitcoin did its thing.
Will altcoin continue where they left off and experience more growth now? Only time will tell but I'm not waiting around any longer I know from what I've experienced in the past that this is an excellent time to pick up coins like steem that are dark horses just waiting to explode!
You got the Defango 11.11 Upvote!
Interesting Thoughts on the future. I believe we are all going to be moon in the future!
Thanks for your comment!! ;)
Your welcome! Looks like the markets are finally making a rebound after all the folks who where cashing out some profits finished selling. Looks like the new supports are setup and we will see a good rise.
Yes! I wouldn't mind if bitcoin just calmed down for a few weeks and let altcoins do there thing now
Agreee with your post. Nice analysis!
Thanks! ;)
I agree...as BTC is flying and alts are crying...but there is opportunity to pick the alts for better gains in future...Lets see what will happen next
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Thnx for you comment ;)
Awesome analysis! I agree! I would also advise researching the teams/vision behind any project before investing in it. Read the white paper and look at the road map to see if the coin has kept up with developmental promises. The teams behind Dash, Neo and Zcoin all have shown promise in my opinion.
Yes! Those coins should do very well in the coming moths, all good holders ;)
I agree with you on the post. Bitcoin is strong but will it continue? or pull back as people sell off for a profit? only time will tell...what do you think of DASH? would like to get your input on it...@cyberblock
Dash has already risen quite a bit recently, so in the short term I'm not sure how much it's got left in the tank. Mid to long term it is one of my favorite coins and I personally own lots of Dash :)
Thank you for getting back so fast @cyberblock. As I seen recently the Dash team have put so much effort in promoting the coin and all the improvements in it...its so constant they work on it, it's a good sign so hopefully, it will reach in the top 3 soon :)
Agree with your post, have an upvote ;)
I am currently only in alts because Bitcoin feels 'broken' to me (mempool, fees, etc.) my top picks are for the coming months are ETH, NEO, BCH and Raiden
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Great post. I am in on LTC and Ripple. have any insight on where you feel those alts are headed?
Most experts are expecting a huge breakout in xrp soon, it's the only top coin that hasn't really surged recently and it's been accumulating the longest. LTC is doing great and there is much more room to grow. I own both as well! ;)