I don't want to be a doomsday crier, but it shouldn't come as surprise to anyone who's been invested Cryptocurrency for longer than the past few months that there has been an unreasonable amount of growth in the Crypto Market recently. Some of this has been legitimate growth from increasing adoption in Japan, China, Korea and India, as well as vendors like Amazon.
However I'm concerned a lot of the boom we've seen over the last 2 months or so is from uninformed investors trying not to miss the next Bitcoin. Many Alt-coins are seeing a lot of growth which I truly believe to be a good thing. Investors supporting new and different coins is a great! It fuels innovation and competition. My concern is that these new investers are throwing there money behind coins because they are cheap rather than because they see a promising technology or feature to a coin. This is causing... less reputable coins to overtake coins with actual substance and staying power. This atmosphere isn't sustainable. I and many others are predicting a massive pullback in the alt-coin market. I think most coins are going to feel the burn, but coins based around good technology or innovative features will likely weather the storm.
:::This is just my opinion and not investing advice:::
I'm planning to hold on to Bitcoin, Ethereum, Monero, Steem <3, Golem, and Pivx. Each are based on great tech, they have active communities and the Dev teams are doing incredible work.
:::This is just my opinion and not investing advice:::
It's 9 o'clock do you know where your coin is invested?
Not to speak ill of another Alt-coin, but just yesterday I saw this coin just into the Top 10 on coinmarketcap.com
My first thought was "Whoa, am I missing something?"
So I did some research and the team doesn't seem to be working on the coin and they haven't posted any news since mid 2016.
This probably started off as a quick pump and dump by people trying to scam the market, but I suspect there were a bunch of noob investors who saw a chance to grab a ton of a cheap coin that was going up in price fast. Investing is always a risk, but I can't stress enough the importance of doing your research first. I encourage you all to look over your portfolios and prep for a sharp turn around in the market. and a bunch of Alt-coins taking a dive. #CryptoMorghulis #WinterisComing #hodl