The major Bitcoin bear market that followed what was clearly, in hindsight, a bubble, ended in December 2018 at $3,000 – and responded to nearly more than a year of maximum investor stress with an “uber bubble”…again, in hindsight.
In other words, Bitcoin rose too far, too fast this Spring – at a time when Bitcoin dominance stubbornly held at 50%, despite more coins than ever proving to be useless. Thus, a new bear market commenced in June 2019; this time, battering altcoins disproportionately, and rightly so - that very likely, bottomed for Bitcoin at the MUCH higher level of $7,300, following October 23rd’s high volume plunge, and October 25th’s historic, high volume surge.
However, most altcoins remain – rightfully so – extremely weak, despite the fact Bitcoin dominance has fallen from its peak of 71%, mired in the 67% range for the past two months. As I have noted many times, a “baby with the bath water” scenario has evolved – affecting even the handful of coins with viable, defensible use cases, like Bitcoin Rhodium.
That said, the beauty of crypto is that once a blockchain is built; and mining and investor communities developed’; with “mainstreaming” boxes checked - like listing on major exchanges, hardware and mobile wallet support, and CMC ranking; a coin is for all intents, “here to stay” indefinitely. So, HODLers can be patient – particularly, those of quality coins – as they wait to be rewarded…by long-term liquidity growth; or perhaps, the next crypto bubble.
In Bitcoin Rhodium’s case, all such boxes have been checked – with several new, value-added initiatives deep in progress by its expanding development team. The Strong Hands dividend program has for now been doubled (perhaps, permanently so); and last week, it was announced that privacy features and the Free Market Once decentralized marketplace will be launched by mid-2020. To that end, the XRC mining community has never been more diversified – with a surprisingly low drop-off in hash rate, despite significantly lower prices since the June peak.
In other words, XRC is here to stay – so, “BRODLers” can watch, wait, and collect dividends that currently are yielding around 12%. Plus, for those seeking to add, buying below .001 is enabling significant positions to be built in an extremely scarce coin for extremely small amounts of BTC – or, due to Bitcoin Rhodium’s partnership with Changelly, fiat dollars or other altcoins.
Ultimately, the Bitcoin bull market will return to FOMO conditions – perhaps, with the halving just six months away, in late 2017 style; and when it does, QUALITY altcoins will return to vogue, like Bitcoin Rhodium. And since time is on the side of long-term holders, XRC’s own halving will eventually arrive – in late 2022, when the current block reward halves from an already scant 2.5/block to just 1.25.
So, for those seeking a QUALITY, NICHE, PRIVATE, DIVIDEND-PAYING, SCARCE store-of-value coin without peer in the entire altcoin space, never will you have a better opportunity to build positions so cheaply – in terms of the amount, or dollar value of BTC or other coins. BRODL and wait, as time – and fundamentals - are on your side!
Bitcoin Rhodium currently trades on HitBTC, Changelly, p2pb2b.io, WhiteBit, Trade Satoshi, Fat BTC, Sistemkoin and Bisq. If you have questions about anything XRC-related, including OTC trading, please email me at ahoffman@cryptogoldcentral.com, or DM/PM me on Twitter or Discord.