Is Bitcoin a Good Buy Now?
That's the big question on many people's lips right now. As price took off and has stabilized near the $4000 region, speculative interest is fast turning bullish again. This phenomena alone should show why crypto will, most definitely, see an explosion in price once more, in the near future. Know that the mentality of your average person is fickle and can be easily manipulated. Sentiment in this space, can turn on the head of a dime! But I digress. Many experts are calling for Bitcoin to be a great buying opportunity at it's current price. Is that true or not? Let's discuss...
Whilst I would never call buying BTC a bad idea, especially at this price point, there may be other such avenues available to maximise on your crypto investments. And that is through the altcoin market. Whereas BTC has taken an over 80% hit on price from the highs, crypto instruments like STEEM or Cardano, took losses into the high 90% range. And you better believe that when the markets reverse, the "equal and opposite effect" theory, will come into play and massively.
Even if your end goal is to own more BTC, it seems more sensible to put a substantial part of your digital portfolio into a few "recognized" altcoins, with good developmental prospects and strong communities behind them. That way, you could either enjoy the benefits of making more profits from the coin itself or when it comes to exchanging for BTC. Most of the alts, including STEEM, are trading against BTC at close to all-time lows now. And just as we saw a huge surge in the price of alts in the past, the same could easily stand true for the near future as well. I'd go for some of the top-tier alts for now.
And which ones are the best to invest in? Nobody can foresee which ones will make the best gains, but spreading your risk into any of the top 20, should yield positive results. I personally, am mostly invested in STEEM, even though it's barely in the top 50, but that's because I believe in the project and see things progressing well for the blockchain. Otherwise, from a purely speculative standpoint, any of the top 20 should hold the least risk possible.
So there you have it. As the old saying goes "Try not to put all your eggs in one basket" and given how new and volatile these crypto markets are, this seems like sound advice for us all. This time next year, we'll all know the outcome of our actions today. So let's try to make them count as much as possible, from now on and moving forward. Best of luck, my peepz.
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Its better to buy now, than regret you havent bought when the bull run starts.
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Yup, Altcoins will boom when the bull market starts again, they will do what ethereum did in the past bull, and ethereum will probably do what BTC did... STEEM isn't actually my main hodling, my main one is VET, I know the ins and outs of the project, know the team through cyberstalking them, they have partnerships and a good project, STEEM is probably my second biggest holding right alongside EOS, I have more or less the same amount of $ on both, STEEM through posting and interacting and EOS because I bought in, regardless of that, let's see what the future holds for us in this crypto universe! When the whole crypto market stabilizes I'll probably try to go and buy some AI, space-race, water stocks (which I think by the time i'll buy them they will probably be running on a blockchain)
I think the decoupling process is starting and individual coins will start to trade independently from bitcoin based on its own merits and demand/supply. While the market and bitcoin are up around 20% from lows, some assets are up over 100% already, This means that fundsmental analysis will be needed to choose the best alternatives as it could also mean some go to zero.
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