Alt Coin Season?
I have enjoyed the variety Steemit brings to the tae. That has pushed me to post about different interests of my own. One thing most of us have in common here. Is a shared interest in crypto currency. In my daily life, I would be lucky to come across one person who even knows what crypto currency is. .
My topic today is going to be about Alt coins. At this time many of the thriving Alt of 2017 are down 90%+. Which is an incredible swing! Some might see this as an opportunity. While others will say they are DEAD.
Bitcoin has just cooled off after going on a parabolic run. Hopefully we see some strong support kick in. As it seems we are on a trend reversal headed down. At this moment anwyays...
With that being said. In 2017, after the monster run up to 20k. We saw the money that went into Bitcoin then flow over into the lesser Alt coins. Why not take your profits and put it into Alts?? This set up yield some unheard of returns! Some as high as 4-500%.
If history were to repeat itself. We could be at a crucial point here. With Bitcoin cooling off. A lot of money was just made on this run to 14k. I wonder if we will see profits flow into Alts again?? It almost feels like the perfect storm is brewing. BUT the wild part about crypto... It always seems to do what people are NOT expecting. That is one of the biggest lessons I have learned over the past couple years.
I would love to hear from the community here regarding this topic. It is always better to hear different perspectives. Especially from people who share the same interest!
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I do think it's just a matter of time. The last time this happened, we saw a big pops in a couple of coins and then they all kind of exploded. It feels like the start of that same cycle with the runs that litecoin and Bitcoin have taken. However, since we haven't seen higher highs, it's also possible that we're still in a downtrend. That feels unlikely at least for Bitcoin and litecoin based on how explosive the mini runs just were, but it's possible. IMO it's a good time to be accumulating.
Great feedback thanks @methus!
I wish I knew what to expect! Haha! To be perfectly honest, I was not expecting the recent BTC parabolic move to happen. I do see BTC moving up steadily as we get nearer to the halving though. I think we should see steady sideways moves inching up and up as we move into the fall and winter of this year... sort of prep for the larger move as we reach the spring of 2020. At the moment the next BTC halving is supposed to happen around May 2020. So, I expect slow moves up as we approach this next milestone.
As for alts, I think money will still flow into them here and there but this time it will be more selective. I think money will be going into more trustworthy alts and projects. For this reason I think STEEM needs to do everything it can to present itself as a more legitimate option for development and investment. I think a lot of what has happened with STEEM over the last year or so has hurt it with regard to perception.
Really appreciate your feedback here @plaid. The halving is what makes this very interesting. I did expect the run this early though. Which could be a good thing...
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