A lot of people start asking recently: Is it the right timing to purchase some altcoins? It seems that the prices have reached the lowest point. According to the rule 'Buy low, Sell high', it seems that it is the perfect timing for 'Buy low' now.
My answer is: Yes, but no
ETH price in 24 hours (17/07/2017)
From the figure, we can see the price of ETH has once dropped below USD140, and we haven't seen such a low price since May. If you had purchased ETH that time, you would have enjoyed nearly 200% return if you sold that at USD400 later in June.
Also, from the figure, we can see an upward trend for ETH. The opportunity to 'Buy low' is passing and we have to act quickly.
However, I do not suggest you to invest all your capital now. As it is risky to do so, especially when the date of UASF is approaching. There is still uncertainty and prices can go further downward. That time, when the prices plummet, you shall invest again. In this way, you can avoid some risks and will not regret your previous buy-in.
It is always difficult to define the trough until it became history. Many investors have learnt that lesson by making mistakes in their judgements concerning the lowest prices. You think it's the lowest now? By tomorrow I can prove you wrong. (Tricky altcoins!) Therefore, don't put all eggs in a single basket. Do your investment in separate periods so as to secure your lovely return.
- I use ETH in the article as it is one of the most representative in the market.
- Feel free to follow me and upvote the passage if you find this useful! I will post a short article everyday to share some of my views. Do not hesitate to comment below!
I will post another story later today, and I will explain why it is not a must for a bearish cryptocurrency market in case of UASF.
Keep posted!