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This correction is long in the tooth but it will end eventually. Bitcoin is getting near major support zone in low $6000s and is very oversold so we should see some bounce at least soon.
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It is a weak period for sure but there have been many worse and even longer corrections in Bitcoin in the past. For example, Bitcoin was in a long correction during 2014 and most of 2015. Hope this year turns out like last year and we see a strong rise in second half.
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It is important to always have some bitcoin and other top coins. For high returns, investing small amounts into some good and hot ICOs like Usechain is good. Some nice overview articles on Usechain are at: https://medium.com/usechain |
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Diversification is always important in investing. Holding Ether, Bitcoin, and a few other top altcoins is good for long term while more profits may be had with some smaller altcoins and ICOs. Risk is higher with small altcoins so only invest small amounts in those.
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Prices of Ethereum and most other cryptos are still range bound and not showing any clear trend. Next week has Fed, ECB and N. Korea summit kind of important meetings so may be an important turning point of cryptos and most other markets.
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Despite crypto market weakness, good ICOs are doing just fine. A great ICO to watch this month is Usechain. Listen to this youtube Q/A session with Usechain CEO Professor Cao : https://youtu.be/XDQve3VJFfk |
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It is hard to predict prices years in future. Do not assume percent gains of 2017 or 2016 can be used to extrapolate future prices. Ethereum is a top coin so as entire crypto market cap makes new highs so will Ethereum.
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Market is still trendless even though Bitcoin has been making higher lows. The market trend should turn bullish in second half of the year if last year's pattern works out.
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Trading in and out and timing the tops and bottoms in hard. Even harder if one owns a large number of coins. Current sideways market is better to hold and add any new good coins to your stack. Downside is limited at these prices but upside can be huge.
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In 2017, the second half of the year was spectacular for most cryptos. That can repeat this year and the next rally start in coming months. Time to hold on and add some good coins at these firesale prices.
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Litecoin is a great coin and its price goes along with bitcoin and rest of crypto market. If bitcoin goes to $50K or higher by end of this year, Litecoin will go to somewhere in $1K - $2K.
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Ripple reached over $3 in January of 2018 so $5 should an easy target to achieve by end of this year or early 2019 once crypto market takes off to the upside.
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With so many ICOs out there, a few are going to be bad or scams but not that many. That's why researching the ICO project, its community and advisors, and most importantly its team is very important. Usechain is one such great ICO currently.
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You must have some bitcoin and some other top coins. After that, only research good ICOs with good teams and projects to invest into. Usechain is one of the good upcoming ICOs.
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The Kik chat integration and growing use is going to help KIN price rise for sure. However, it is hard to get too much excited about future prices looking at the huge 10 Trillion supply of KIN. It needs a 50x rise just to get to 1 cent.
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Most coins will do a 5x or 10x easily once the market correction ends and its starts a strong move to the upside. Hopefully the next big rise will start this month or next.
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Going by some good traders I follow, this correction should be ending in next month or two at most. Last year also the big strong started in July only so it could repeat in 2018.
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