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RE: Cryptocurrency (coins and tokens) that have held up well against the BTC Correction
LOL... Well I don't like doing things half assed if I can help it at all. Yeah, from everything I can see, the correction is just a temporary hiccup. I don't knows how long of one, but nothing has changed the underlying value of cryptocurrency... if anything, I see the legit coins/tokens as increasing in value. There's just a lot of scared newbie money being thrown around at the moment.
Yeah, newbie money is what drove the numbers way up in the months before Christmas. It should jump again soon when tax returns start coming in, in about a month. Don't hold me too that...
...with the India news, I wonder if BTC is going to drop down to $7500 - $8000...
I think that BTC is going to defy India's power play move, and when that happens, the price is really going to soar.
I think the trick is to understand that the value of currency is a supply and demand issue, and even without India, there really is not enough BTC to go around.
I'm hoping to see a slingshot effect, but that could simply be wishful thinking! :)
I agree with wishful thinking. So far, for every event affecting BTC I have been wrong, because things never react logically in economics. I agree it may soar, but it will probably be because the whales will want to keep the price from tanking and will move their assets around to buffer the effect. Please don't listen to me though, since as I mentioned, I have been consistently wrong, lol.