It looks like the blood bath (not really if you look at the past 9 months) is over. The massive 8 week sell of is coming to a close. 98% of all of the cryptos are in the green today, showing upward momentum. Yesterday (February 2nd, 2018), was a great time to pick up more cryptos. Yesterday, was the lowest price point for most all cryptos.
Over the past 8 weeks, any and all weak hands had been exposed. The powers to be, tried a two month campaign to shake the cryptos away from the unsophisticated investor. How successful they were is yet to be determined. It is interesting to note, that just over 60% of all mined BTC has not moved from cold storage.
It seems that the battle lines have been drawn. The long term independent HODL (you and me) versus institutional investors (the big guys). Since the available crypto coins have been successfully lifted from the weak, the market makers will allow cryptos to climb. We will see all time highs this year. The buy wall or new ones coming into crypto is staggering. The global interest in crypto currencies/tokens is just over 200,000 people per day setting up crypto exchange accounts. The infrastructure of crypto exchanges will be throughout tested. In fact, do not be surprised if multiple times this year you get locked out of exchanges from too much server activity. There will be frustrating moments of wanting to buy or sell and not being able to, because of the strain on the young crypto infrastructure. I guess you can call it growing pains.
2018 will be a record year for many reasons. We will see many geo political events, economic upheavals, political turmoil, corruption revelations and continued weakening of Fiat currencies. The world will be looking for safe harbor to store their wealth or daily wages. The few choices that we have are physical precious metals and decentralized, blockchain crypto currencies. Eventually, trillions upon trillions of dollars will be moving into digital crypto currencies utilizing the blockchain. This rising of the tide will raise all ships.
Buying and holding is often suggested by the experts. Those that get involved early in crypto currencies will see the greatest profits. Everyone should think in terms of 3 to five years at the earliest for investment gains. I realize many are desperate for money now. Millions of people have had financial pressure for decades and want relief now. It is very hard for them to wait another 3 years for true wealth to build. Those that can wait 3 to 5 years and let their crypto portfolio grow before taking profits will do the best. If you can not wait that long, then take the least amount of profits to get by and let the rest build (not financial advice just what I am doing).
So get your pop corn, sit back and enjoy the crypto show of 2018. It will be a thriller to say the least. If you can sit through the entire movie (2018), I am sure the ending will be worth while.
image from: seekingalpha.com