Top Cryptocurrency Right Now
Cryptomarkets are going through a slow restructuring phase, as exchanges cannot cope with the massive numbers of new users. This acts as a catalyst in prolonging and deepening the declines seen at this time in most Cryptomarkets. In reality however, these markets are only gearing up for the next part of the major rally. And depending on the money that the new users will bring in, there might be a massive next leg in the rally. More specifically crypto coins as such Bitcoin, which remains the leader, could go as low as $9,000 before the next leg higher happens. But when that happens, it can easily go to $70,000 or even $120,000 within 2018!
Bitcoin continues to dominate, because it’s the one and only. And despite its inability to facilitate low amount transactions, it is almost certain that it will solve all these problems one by one, sooner rather than later. Everybody wants to buy some Bitcoin, and it is also the most battle-proven coin, as hackers have been unable to create fake Bitcoins, which only proves the power of the algorithms.
Further down the list, big winners will be coins such as Ethereum, Ripple, Neo, TenX, Cardano, Golem and Cybermiles. Projects like Cardano are super sophisticated 3rd generation coins, but will take much longer to be adapted. Cardano could be in my opinion your last investment, because it really is going to be slow, it will take like 2 more years just to start deploying, and as long as 10 years to be fully widely adapted, but it will happen. All the others mentioned can make substantial gains in 2018, Cardano will not make you money in 2018, but it’s a good hedge just in case there are problems with Ethereum, possible hack attacks etc, because Ethereum is not fully battle-proven like Bitcoin is, in the war against hackers.
How Buy Cryptocurrencies on Exchanges
All major reputable exchanges such as Coinbase, HitBTC and OKEX are still facing pressure due to overwhelming demand by wave after wave of new registered users. In my opinion, you can almost predict when the new rally will start exactly, by measuring the registration and user ID verification speed. Nonetheless, despite all problems and delays, these exchanges are preparing new upgrades, so as to be able to handle millions of new users over the coming months and years.
Buying cryptocurrency today at the exchanges remains a rather difficult and slow process, especially for users from non English speaking countries, where photos of ID documents are more difficult to verify. This problem could last few more weeks, but then it will be under control. And new users can use the exchanges very easily, since the platforms are fool-proof and easy to use.
Bitcoin Could Possibly Drop as Low as $9,000 before the Next Rally. So as to Complete a Symmetrical Leg Down. This is the Lowest Possible Level I Suspect, and We Will Never See it so Low ever Again! So Effectively One Can Double their Money from $9000 to $20,000 in 2018, even If they Don’t Want to Wait for $100,000.
When to Sell Cryptocurrencies
The best time to liquidate any of the investments mentioned here, will be on the next cycle. In my opinion, there will be more bottlenecks in the future, when the number of clients at the exchanges reaches some millions. This is inevitable as there are more than 2 billion people wanting on the sidelines, imagine what will be required to facilitate so much trading volume. But for your investments, this means that you can hold your Bitcoin until this happens, and don’t even think about selling below $70,000 or even possibly below $100,000. There will definitely be some pullback at $100,000.
I had previously believed that Bitcoin will have sustainable value up to $30,000. But today’s data shows that it can go much higher. This is because Bitcoin has further proved its resiliency, and moreover, there are enough buyers to push it to amazingly new levels. And finally, many other projects will have their coins and tokens also rise, including some bad ones too, because people always diversify into something else. So don’t sell any crypto coin until Bitcoin goes above $70,000! At that level, you can check again to see how exchanges will be coping, and if they are facing pressure again, it will be a sell signal, we will see how things will work out at that level.
What are the Prospects
I believe that some very good coins and tokens are found even in the $10 or $300 price range. I know that the fastest gains can be made on the coins going for under $1. But there are many good crypto investments that have already risen above $10 or at around $300, some of them are really good and will still increase 10 fold relatively fast. Critics say that there are too many coins and tokens, and so many new ones are launched every day, but there are many that will go up in value, not just the 1%. In my opinion it is wrong to think that 99% of crypto projects are rubbish, because they aren’t really.
I believe that 30% of the top 1000 projects will survive, and will make good money too. More importantly remember that this is a revolution bigger than the classic financial markets, insurance, banking, remittances and many other industries combined! And there are more that 2 billion users waiting. So the actual amount of money that will end up going into crypto markets is impossible to imagine!
It is usual for all good inventions to have slow adaption, the best inventions took like 10 years to be fully adapted. Think of trains, the airplane, the television, and so many great inventions, it always takes a decade to see full adaption. And crypto markets are an even bigger invention, because the money involved is so much more. And remember that many projects will make money and will be adapted, not just the 1%. It’s more like 30% to 40% will actually have some success, and Bitcoin will always provide the trust that investors need to see. Investors care to see Bitcoin remaining impossible to hack or fake, they don’t care about buying coffee using Bitcoin, that will happen tomorrow with another crypto coin. Remember to buy more Bitcoin, especially if it goes to $9,000 at this time, because it will be only a panic driven move. The money waiting to enter the exchanges can bid it higher to $100,000 this year!