I started off thinking it would be wise to hold a few different blue chip coins so I went with Bitcoin (BTC), Litecoin and Ethereum Classic. I dabbled a bit in some alt coins and I did well with that, It pumped my BTC holdings up for the most part and at points had me wishing I had just held!
One thing I cant help but notice is that the coins act primarily the same. All the coins respond slightly different than the next one to market fluctuations but, they all move in the same pattern and for the most part the charts seem synced.
BTC goes up so I dump in to USDT and buy the dips, simple rite.. well I can't figure out why I bother holding multiple coins when BTC hard forks are so appealing and it's just more work having to manage multiple coins.
For example after BTC hit $20,000! a coin I started pulling back and moving the asset to USDT (Tether) I mean wow why not rite. Long story short it was a lot more work moving multiple coins and tracking and trading all these alts and blue chips .
I do like having some diversity however I have to recognize that may just be a nice idea for the most part.
One coin seems set apart from the others and that's Ripple RPX I did a bit of background checking and it seems that RPX is being run by the banks and has no coin cap.. they can flood the market and keep the price down on that. The appealing part is that RPX seems resistant to the market fluctuations felt by most Blue Chip coins.
This single issue has brought me to a point of contention, why invest in a centralized bank run crypto (RPX) when that's not the point of the market in the first place?
Make money sure why not but, is a bigger picture worth a look?
I think so.
Cameron-