The past week in cryptocurrency might have seemed unexciting to newcomers like myself. I'm beginning to see now that it has been anything than dull.
Why Are Corrections Healthy?
The more info I consume, the more things start to make sense. Of all the reasons this correction has been a blessing, one stands out.
Yes, BTC, and even the majority of alt-coins have taken a hit. But cryptocurrency has hardly collapsed as so many said it would.
The fact that cryptocurrency can take these corrections and be ready to launch, no surge ahead, helps dismiss the bubble theory.
The Correction Cannot Hold With The Rising Rate Of Demand!
Sure, there are other factors in play like the incident last week in South Korea. Fear will likely continue to play a role in the value of cryptocurrency as governments struggle to adapt.
But Peek Over At The Exchanges...
By all accounts, exchanges like Bittrex, Poloniex, and Kraken (to name a few) cannot keep up with the demand of new user registration.
On the last check a couple days ago, Bittrex was still closed to new registrants and Poloniex was warning 6 week delays.
Binance in particular is reporting astronomical amounts of new investors. After a short closure of services, they reopened Wednesday and added 240,000 investors in a single hour!
Study Up On Those Altcoins
As more and more interested parties continue to invest in cryptocurrency, one thing is becoming clear. BTC may be the standard, but it's not where people are putting all their resources these days.
For myself, alt-coins was the way to get invested. Steem & SBD came first, but I needed some direction. Somewhere to cast my gaze for a place to cast some coin.
Where Did I Begin?
Many thanks to and
for helping shed some light. I headed over to Dogechain, set up a wallet, and made my first investment.
Doge was sitting at about $0.0031 USD at the time. Now it's floating just over a cent, and almost hit 2 cents a few days back. If you bought or traded a lot of Doge, that's a fantastic return.
On top of having some Doge, I've been exchanging SBD for BitShares. Honestly, with all the demand on the exchanges, I'm surprised more people aren't turning to BTS. I believe, along with other forecasts, that BTS will seeing some nice gains ahead.
What Else Is On The Horizon?
I have to admit, I do enjoy jumping over to lately for some ideas. When it comes to cryptocurrency, he may not always be right. He certainly has the experience though, and knows what he's talking about. There's alot for me to learn in doing so.
One coin I saw that looks promising is VOISE. Not just for the investment value, but for the service it's providing to musicians. Click that link and check it out!
Unfortunately, VOISE was tough to get because I didn't have the cash. Nor was I willing to exchange Doge or BTS for ETH to get it. Not yesterday. VOISE dropped a bit, so I'm keeping a close eye for now.
Wrap Up
If you are new like me, you can't claim to be an expert. You can, however, begin to absorb the info that's pouring in each day.
I don't see how this correction can continue, or even hold for long. The rise of incredible platforms powered by alt-coins, and the sheer number of new investors entering the market each day say otherwise.
Disclaimer: I am not an expert. None of the above info should be construed as trading or investment advice.