The past week has brought some extraordinary pain to the Alt-coin markets as what I am dubbing the "Red Death" is killing everything!
Today has marked another 20% sell-off across the board which was simply a continuation of the 20% sell-off a few days ago...
What isn't selling off?
Bitcoin!
Up nearly $1,000 in a few short weeks, bitcoin is about to test the all time highs of $5,000 in the next days if not hours from this posting.
Unfortunately, when bitcoin makes serious moves, it tends to shock the alt-coin markets.
Take for instance this past April:
Bitcoin was rallying and at the same time altcoins that had taken a beating for months were again inching lower and lower, then one day everything suddenly changed;
Boom - Altcoin Rally!
Once bitcoin decides to settle on a price.... Until then things could go lower but as the past has shown, a major altcoin rally will follow and begin to grab pieces of the market shares
Tokens to keep an eye on
- Ethereum - 60% off recent highs reached 3 months ago
- Monero - Has been slowly pumping for over 1 year
- Litecoin - Longest lasting Alt-Coin, tends to rally following bitcoin rally
- Dash - Popular altcoin with low supply
These are the obvious high market-cap tokens that everyone is most likely watching anyway
Other not-so-obvious altcoin projects to watch
- Wings - Nearing beta release of platform. Has rewarding mechanism to build a cryptocurrency portfolio without further investments and price has sank to extreme lows
- Decent - Content distribution platform with quality team. Nearing release of content. Also sinking to extreme lows
As the past has shown multiple times, these altcoin crashes present buying opportunities across the board.
Don't make the mistake and actually believe that these cryptos will die...
Steemit has died many times already
Those who stick through the bad times are rewarded during the good times
- Use this time to become known and gain a following. When the rewards are decreasing, less people post and a bunch decide to leave. Now is the time to build yourself up
- Stack up some cheap steempower! As the price goes down, the actual steem payouts per $ increase.
When Steemit Re-Awakens, you will be glad you stuck around!
Feel free to follow and comment on my articles
I love comments and it's the best way to get my up-votes!!
a bitcoin fanatic and alt-coin enthusiast