Many predictions have been made for what to expect in cryptocurrency markets in 2018. In a recent article by CNBC their top analysts made some bold statements about what they expect will happen this year. According to Bitcoin bull, Tom Lee we are about to experience a "Great Crypto Rotation" this year.
"The rotation we're referring to is among the smaller alt-coins and the large platform tokens," Lee says.
"We think 2018 is going to be a story about rotation," Lee told CNBC on "Fast Money" Monday night. "But the rotation we're referring to is among the smaller alt -coins and the large platform tokens."
Lee is the head of research at Fundstrat Global Advisors and an early adopter of bitcoin. His theory is that alt-coins, or smaller coins with a market cap of less than $3 billion, will experience the biggest gains in 2018.
One of the top performers in 2018 so far was the alt-coin raiblocks, which still only has a market cap of less than $3 billion. It is up over 600 percent for the year.
Generally when big news outfits say to do one thing, I normally look to hedge my bet in the opposite direction. When they say to go left, I'm looking to go right (assuming there's good reason to do so...). If they are saying its a good time to buy altcoins, I'd think its about time to get more Bitcoin.
One positive note was that Lee said his firm considers bitcoin's fluctuating prices, "very healthy given the strength of the gains seen in 2017."
According to Lee, he said that Bitcoin should still reach $25,000 by the end of 2018.
What do you guys think about this advice? Which altcoins do you think are the most promising for 2018?
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Source:
Missed the initial bitcoin wave? Try smaller cryptocurrencies like stellar and neo, says strategist Tom Lee - CNBC
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