Reddcoin: the best short term hold?
I believe that Reddcoin is an excellent opportunity right now. It is currently trading at 44 satoshi, which is an excellent price. For those of you who have not heard of Reddcoin yet, it is the self proclaimed "social currency". It intends to integrate inself into Reddit, Facebook, Twitter and other popular social media platforms as an easy way to tip people. While it is currently possible to use Reddcoin to tip people pretty easily, Reddcoin is planning to release Redd ID which is going to make it even easier. Redd ID is going to be a username based system that integrates into all the established social media platforms, allowing followers to tip you at the click of a button. This will most likely be huge and will almost certainly introduce new people to cryptocurrency.
Why a short term hold?
Unless you strongly believe in Reddcoin, I think this is a fantastic short term profit opportunity. When you pair the fact that the markets are all pretty low at the moment due to (unwarranted) Bitcoin uncertainty with the supposed August release of Redd ID I believe we will see high profits. Come august the first we will most likely see the markets recover fully, which will probably raise Reddcoin price by 25-35% based on what it did last time the market picked up. I think the release of Red ID will spike the price by at least 2X but would not be remotely surprised if it goes a lot higher than that. It only takes one or two major bloggers to talk about Redd ID as a tipping method and the price could MOON very quickly. This initial spike will most likely be short lived and will probably drop after the hype dies down. I recommend keeping a close eye on Reddcoin Price on the day of Redd ID release and sell when you believe the price hits its peak. You can always buy back in when the price is lower.
Conclusion
While I do like Reddcoin, my heart is still here on Steemit. But that doesn't mean I cannot see the value in Redd ID, I currently hold about 1.2 million Reddcoin and will continue to buy Reddcoin until the release of Redd ID. For those of you who enjoy mining and staking crypto, Reddcoin is very easy to stake for some extra rewards. With 1.2 M coins I get a rewards about every 1-2 days which is pretty good and I recommend it. I welcome any feedback on Reddcoin or any other coins that you think are a good short term hold.
Happy Mining
Viking
