what lj think about this situation? Would be intresting know a veteran posistion
I didnt get overly excited when KMD price doubled overnight and also not overly worried if it drops 50% in a day, especially when it is an across the board altcoin to bitcoin shift.
BTC percentage was around 60% prior to the start of the altcoin revaluation and dropped below 40%. Now it has climbed back to the sustainable 50% level as the market is pricing in a solution to the BTC blocksize.
KMD rank is right around #35 as it has been for months, so the price is just going up and down based on the entire BTC to altcoin ratio. Since liquidity for BTC is a lot larger than most altcoins and certainly KMD, any significant shift will affect altcoins and KMD disproportionately.
Let us put it in perspective. KMD price is over 10x its market low price, the fundamentals havent changed from yesterday to today, the price change is a market sector change, so stay calm. Of course if you are a short term trader and bought in at significantly higher prices... It is very risky to be short term trading anything, especially crypto. If you cant hold a position for one year+ (or longer if a bear market makes an appearance), then you will need to have very good market timing, excellent money management to minimize risk, nerves of steel, automated systems to either wake you up while you sleep or actually trade, if the latter it has to be a bug free system. So, the odds that you can actually consistently make money doing short term trading is rather low. The buy and hodl requires much less work. Just need to notice significant changes in the fundamental prospects of a project.
The people that make the big money in crypto, are the ones who identify promising projects relatively early and hold for a long time. That way, when the big spike up happens, you already have it. Also, if you are clever, you can accumulate when there is blood on the streets (everything on CMC is red) and have a lower cost basis.
Anybody that did not expect such days for altcoins has not analyzed the recent shift from 60% to below 40% of BTC dominance. I was not surprised it happened. Of course I dont know when it will happen, just that it would. Now that BTC is at 50%, that is the traditional market dominance of the leader that is long term sustainable as long as it doesnt do something really counterproductive. Depending on the resolution of the segwit2x/Aug 1, BTC will move significantly unless the market prices it in exactly correctly. This means it is not going to be easy to know about likely prices until after it is resolved.
Once the BTC situation is resolved, then I think altcoins can go back to a more normal trading pattern. I will just continue to improve the barterDEX tech and actually I am starting to think about the next phase for the core. I too am eagerly waiting for GUI like all of you.
I totaly agree, for now we can just hope that BTC block size situation will be resolved
