Over the past few weeks I have been monitoring and watching the BTC (Bitcoin) and ETC(Ether) Price trends and it seems this is headed higher. If you see the price action Y-O-Y, any major correction has resulted in a potential buying opportunity and prices should head higher in the short term
Source:- Coinmarketcap.com
The crypto area is getting hotter, expect more disruptive models (Steemit is a great example how it’s challenging the conventional publishing standards and is aiming to instill equity and fairness in a skewed market). The usage and acceptance of crypto will only increase and they will eat into the conventional monetary transaction models. The Crypto exchanges (Coinbase recently added LTC (Litecoin), which means although we have more choices to make crypto investments, the opportunity to grow is so big that alternate investments don't appear a threat to each other at the moment. ( The overall market will grow at the expense of conventional currency markets so crypto currencies may not compete with each other in the short to medium term)
Crypto currencies seem to be catching the imagination of the investors, as they are outperforming the conventional currencies, commodities (e.g. oil). Macro policy environment also will help the upward journey of the Crypto currencies because central bankers have either kept their fiscal and monetary policy on hold (We are in a rate hold environment except the US). Expect some sideways price movement or a mild correction, however the long term outlook looks Bullish.
Look for price corrections to make an entry if you are watching this trade unfold. Most analysts have raised very bullish supporting analysis for Crypto price action, some have issued analysis that ETH will be more expensive than BTC whereas others are speculating a very high price point for Bitcoin.
My final take is that, crypto currencies have evolved and will continue to grow. They are a great diversification investment strategy and will continue to attract investor attention as they continue their challenge to traditional models and increase their penetration, reach and acceptance globally.