Should I Keep My Alt Coins In 2019? – Chip Smith

Should I Keep My Alt Coins In 2019? – Chip Smith

Chip smith.

Here are some tips to help answer your great and important questions.

Bitcoin is in a lull after a very substantial rally. Most people in crypto land are fighting and calling this a dead cat bounce, and others are saying this is the start of a rally towards 40,000.

Your alt coins are a highly speculative thing, and it sounds like you have been listening to people on youtube, getting paid to push scripts to their followers. There is no guarantees alt coins have to go up, but usually if BITCOIN rallies the alt coins can be subdued, and follow suit later on.

What I can be sure of, is that no one knows what happens next in crypto. Its very volatile and it can all go to zero by next week. I am not saying that is going to happen but just know the risks involved and realize the 8 big things happening out there in crypto land right now.

1. The litecoin halving event is about 3 weeks away. Be sure to take special care and attention as it creates lots of volatility. It can trick day traders and confuse many others.
2. Facebook libra coin has been in the headlines for weeks now, and has gotten many pundits talking about BTC, even the skeptics as well.
3. The president of the USA has been tweeting about BTC and crypto. Its a big feat and gotten world wide attention. You can see further crypto news analysis here .
4. There was hope that Libra would bring widespread cryptocurrency adoption and legitimize the industry, from which BTC would benefit.
5. During the weekend, the industry was dealt another blow when a popular cryptocurrency called Tether — whose value is pegged to the dollar — was briefly subject to a “fat-finger” error that caused BTC’s price to drop sharply. So there is rife manipulations going on right now.
6. Legitimate corporate or consumer global payments has to exist first for crypto to not only survive but thrive. This could be years away.
7. People are posting ridiculous targets for BTC prices in 2019, without even understanding blockchain. Greed has come in and its taking over peoples lives.
8. Over the year HODLING has been the most rewarding for me. The fly-by -nighters in this industry do not pass the test of time, and are only trying to get rich over night. I can assure you that is not the best way to play this game.

Hope this helps. Just my two cents.

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Hope this helps. ?

Published at Sun, 21 Jul 2019 01:22:58 +0000

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