“Maybe history wouldn't have to repeat itself if we listened once in awhile.”
― Wynne McLaughlin
Bitcoin has now long surpassed gold which today only sits at a price of $1250.00 roughly. Bitcoin is a commodity, and in time will earn its title as a store of value.
Intelligent investors are already trying to implement a plethora of Bitcoin ATMs in every mall in your city.
I recently attended a trading seminar to hopefully network and meet cool people. im fairly knowledgeable in cryptocurrencies but I like to keep an open mind and offer insight to new people. Anyway, the presenter spoke the whole time about his trading strategy which was dumping money in alt-coins that are up around 20-30% and in the quadruple digits of volume. He then went on to say he'd go to bed and wake up to some cold hard cash when the stock miraculously blew up over night.
I couldn't sit comftorably knowing that this strategy would never be consistent and teaching this kind of strategy to somebody new (which the room was full of) is almost guaranteeing their failure. He didn't even once speak about the fundamental or technical analysis an experienced trader does to add more certainty to their trades. Or the fact that all these alt-coins are peons when it comes to Bitcoin and they will react to however Bitcoin is feeling.
Which brings me to the point of this story. When people ask what alt coins to hold after the fork it makes me cringe a bit because it's already been shown countless times that Bitcoin has the majority of popularity and this will shine all through the rest of Q4 and 2018. When Bitcoin dips after the hard fork on Nov.16th it will rise from the dead and set new all-time highs that people never sought possible, this will trigger a huge downfall in alt-coins as people pool their money into bitcoin to catch the wave.
Alt-coins can offer quick financial gains after forks but the turtles always gonna win the race. I'm gonna make sure that if im the bunny and we're betting $ on the race I'm getting the hell out of that race early to keep my money and my dignity.
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