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RE: Is Ripple (XRP) a perfect Hedge for Bitcoin - December Update? (Opinion Piece)
I recently moved some of my bitcoin into alt coins with smaller market caps and I am generally optimistic that it will be easier to see consistent positive returns in these rather than bitcoin. Thank you for your opinion piece and congrats on your hedge prediction. Spot on.
Thanks. Not exactly spot on because Bitcoins price increased (so when XRP increased it was not as an inversion).
In my opinion the pullback on Ripple will quite great when it comes. I feel there is less conviction in the fundamentals of that company, even though their story is intriguing. The steemit community is more longterm focused, the Ripple community is a lot of bankers and people that got a tip from their bank buddy that knows everything.
Thank you for adding to the discussion. There is certainly a lot of new money in many different cryptos (not just Ripple), many have ran-up very fast.
How do you feel about Ripple as a hedge?
Yeah sorry got carried and didn't actually answer the topic. As a hedge that's purely up to you. If you like the story stay with it. Not a bad idea. If you are more comfortable with feeling sure on the story of steem or ripple I would go with either or, or a small exposure to the least conviction you have of the two. In my opinion cryptos have almost taken over the precious metals play. The American economic picture seems fairly rosey right now going into the New Year which cuts down a bit on the rocket fuel that was being sprayed with the gridlock over the past year. I'd ring the hell out of the register on Ripple, especially if I got in low. Just my opinion you are smarter than me you owned ripple before the sore neck instahike.
No worries! Interesting take on the precious metals comparison.
One point about the hedge play, the hedge play outlined in the article was much cheaper add-on to a BTC investment in October than now (roughly, it would have cost 8 % of BTC price in October, but more than 36% of BTC price as of the recent article).