If you have been watching the markets you will have noticed a strong dip in the markets across the board. The top four coins; bitcoin, ethereum, litecoin and bitcoin cash are all in a downward trend. This is also bringing down many of the altcoins as well. This may be due to many of the major financial institutions across the globe making it more difficult for investors to transfer their funds on to the exchanges from their accounts and credit cards. The fact that we are in a bear market only means that it is a great time for investors to buy. always remember to buy low and sell high, be greedy when others are fearful and be fearful when others are greedy.
Nearing the end of 2017 Bitcoin received a lot of hype and many people jumped into the market at its all time high and did not have the faith to stick out the dips in the market. This leed to many investors that bought high to sell and unfortunately it was lower than purchasing price. This market like many others takes patience to allow it to grow, and there really is no get rich quick deal in cryptocurrency. Many of the companies that are legitimate need time to create their products or services which they are in the infancy of creating. Utilizing blockchain technology to build upon to solve very complex social issues takes time and investors should do more research and believe in the project first before buying into the hype.
So how does the future look? From all the research I have done, it shows that we will continue to have a sluggish few months with all the crypto currencies. By this I mean we will see more normalization in the marketplace, slower gains, more regulations, fewer scams and more widespread adoption by governments across the globe. As this happens we will begin to see great new products emerge and new opportunities for investors to see fantastic returns, far better then what is available in the fiat world.
My personal favourite coins to watch for the near future would have to be:
- Cardano
- Ripple
- Nucleus Vision
None of this is financial investing advise as i am certainly not a financial advisor. Never invest what you can not afford too loose, and always do your own due dilligance and seek the advise of a certified professional financial advisor prior to putting any of your hard earned dollars into the cryptocurrency markets.