Bittrex Global
Bitcoin just hit $11,860 as of this writing and once again one by one the Altcoins are affected positively and one fine example is #xrp which is one of the top cryptos owned by many crypto enthusiasts including the author. I actually own some XRP and I intend to sell it at a higher price than the current price action levels.
We must never forget that BTC has only a limited supply and as time goes by many new users from people to big businesses will soon take hold of their own BTC to keep and store for their own interests. One of those interests is to buy other cryptocurrency like altcoins.
Then the Altcpin price action will get affected positively. It will be like a cycle and fanning the BTC furnace and a very friendly vicious cycle of buying and selling BTC and altcoin will ensue. That is what I personally call a #cryptoeconomy.
Just imagine BTC getting scarcer over time because newer people will buy and hold and trade with altcoins. Then the altcoins will be bought and sold from the people who bought BTC and the cycle continues like a snowball effect and that would require a few years until BTC fulfills the predicted price for it.
For myself I will just hold my cryptos until I needed money for my necessities and emergencies just like what happened last January where I had an appendectomy. That is why we have to have some form of financial security ready luke cryptocurrencies for such uneventful things in our lives. I do trade some of my cryptos and those are just my extra investment so that it would earn rather than sitting and not getting used-up.