As I told you in my post yesterday, I’ve bought some extra crypto’s after the correction. I told you I was doing this because basically the correction is nothing else then sales, all crypto’s were on a 30% discount. As you can see on the screenshot taken from coinmarketcap.com my 5 picks were good to me.
Bitcoin is back on his steady growth track and that’s a good thing, because it is an assurance that that track is a good representation of the economic value of bitcoin. Some people might say that it’s growing too slow but I mean, which other investments can you find that get a growth of 7.09% in 24 hours? Right, besides cryptocurrencies I wouldn’t know either.
The same thing is happening for Ethereum. Ethereum is back to the same track as before the correction, and as we can see now but also before the correction that rate of growth is bigger than that of bitcoin. Which means ethereum is inching closer every minute to overtaking bitcoin in total marketcap. That would have huge effect in the world of cryptocurrencies, as I’ve explained in my previous post.
NEM is back in the green, slowly but steadily growing for now. That might just be what the cryptocurrencies needs right now, a lower but steady growth, less hypes and severe correction.
DASH and STRATIS both grew their market cap with a bit over 8% in the past 24 hours. 8% is already crazy but is also a slower and more sustainable growth than we have had in the past 2 months so that’s why I really believe in holding both of them for the longer run.
Some other remarkable results came from IOTA and Litecoin. First of all let’s talk about IOTA , IOTA is a coin that is very new and came in with a BANG, it started off reaching a marketcap of over 1.7bln. And while that might be a good value for it in the longer term, to reach it that fast is just insane and people were cashing out for a very fast profit. That combined with the overall correction caused it to lose over 50% of its value. Today it’s back up again with a huge growth, but I believe that it will come back down to test the previous low and the question is whether that will hold. So if you’re looking to buy some IOTA I would give you the advice to wait 1 or 2 days for a new all-time low and then maybe buy some. If you do buy it I believe the best approach is holding it for the longer run, wait until the hype is over and it will be growing to is correct value.
For Litecoin, I believe it’s reached a good value for the coin with around 35USD for 1 litecoin. That is why I believe the growth that it had the past 24hours will flatten out and the value will settle at around 36 -37 USD.
I am NOT a financial advisor, this is just my thoughts on the recent movements in the market. So if you’re looking to invest, please do some research yourself and I’m not responsible for any losses that you might make.
PLEASE let me know what you think about this post, I read all comments! Let me know if you found any value in my advice, or if you think that I should go back to just posting photo’s. Upvote and follow for more post, resteems are highly appreciated!
PS: English is not my main language, so sorry for any mistakes