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RE: Bitcoin (BTC) Morning Update: CORRECTIONS are HEALTHY!!
I agree that many will panic sell if there is no sign of a turn around. However, I think that the more damning thing will be the 270,000+ back-logged transactions on the bitcoin chain, that Ether and Steemit were able to complete 1 million transactions in a 24 hour period, and a general uneasiness about crypto's following the allegations of insider trading with coinbase's support sales/trades of bitcoin cash.
Which coins do you believe someone should jump to in a situation like this?
fiat.
May I ask why you are promoting fiat currency on a cryptocurrency platform and how, in your opinion, is fiat currency better than cryptocurrency?
it's called selling your bitcoins and then buying back in after the correction.
this is why social media is so pointless.
That is not what fiat currency is. You are simply describing the age old adage "Buy Low, Sell High"
;))
Steem ;)
I think that cryptocurrency markets are going to be more fluid in its adoption and abandoning of individual coins than traditional currency simply because of their nature. This, imo, is a good thing as it will force coins to continually evolve to provide better services, at a lower rate with quicker transaction times.
Edit: Fixed incorrect terminology.
Yeah. Bitcoin wont be around in the long term or at least it will lose its spot at the top
The question is do the forks of Bitcoin suffer from the same technological limitations at Bitcoin itself or did they redo the blockchain completely. If it is the former then all the forked Alts will go the way Bitcoin does. If it is the latter then the only reason to fork Bitcoin is for the name recognition and the inclusion of Bitcoin is not necessarily indicative of the veracity of the alt coin.