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RE: Bitcoin Dominance Hits 3 Month Highs
I am also thinking that over the past month Bitcoin seems to have found some stability and hasn't had too much volatility. Many Altcoins are still bouncing all over the place and possibly investors are getting tired of the never ending rollercoaster. I know that Bitcoin seems to be a safer place to keep money right now and Altcoins are a place for quick in and out investments or very long term holds. I know I'm waiting for a little more stabilit before I get into more Altcoins. I would have chosen Ethereum or Litecoin but with the higher speeds and lower fees Bitcoin is becoming more enticing.
To be honest I am scratching my head trying to figure out what purpose Litecoin will have if Bitcoin becomes both faster and cheaper than it?
Agreed. 6 months ago I would be getting all in on litecoin and it was looking like Bitcoin was just going to be the token Grand Daddy of Crypto but they have totally pulled up their socks and made a strong statement to the entire market.
Yeah Bitcoin is pretty much as fast as Litecoin now. Many exchanges only need 2 confirmations for Bitcoin compared to 6 confirmations with Litecoin. Litecoin is still cheaper though (mainly because it is worth less).
Sounds like you would need to stay as a long term trader. If you are looking for stable investment maybe, investing in Cryptos is not for your risk tolerance...imo