Taking into account the zones of bull, bear, accumulation, expansion and re-accumulation and back to bull market again. If history is going to repeat (or rhyme) We are in re-accumulation now, and will be going into the fall season and winter until 2020. After this we should get back into the real, full on bull market. THIS is when ICOs and ALTs will begin moon missions again. Until then, I still think select alt coins and ICO/IEOs will provide good returns but it is crucial to be on the defensive because not all of them will do well, on top of this there is still market sentiment throwing fud at alt coins, hopefully it will start to die down.
During this period it is still possible for BTC to see lower prices and the RSI on the monthly and weekly do look quite bearish IMHO. Right now is not the time to be throwing money endlessly at anything in the hopes of big returns, if anything I will be looking at select IEOs that look like they can pop if the metrics are good, or ones that come to market with a very low MC and on an exchange that can provide a lot of liquidity and buyers of the project IE good “pumpamentals”.
If you are buying ALTs and IEOs right now, just realize that it may become a long term hold and be prepared to see a loss in the short term. Again, select ALTs, ICO and IEOs may see returns but I have to stress select. Speculating longterm may also prove to be problematic as the market is ever changing and evolving. If you spot a good project today, this could change within months if something better comes along or something goes wrong with the project. There may be chances to get in on the floor with good projects that will preform in the next run but you must be diligent in paying attention to the fundamentals of the project, probing the community of the project and seeing what the team is working on. They should be building things and acquiring allies and partnerships that will lead to expansion and growth of the chain and use cases of the token.
Keep in mind that the next true ALT season may start after BTC returns to the previous ATH of $20,000 USD, so it may be better to stay in BTC until then, after this move to the top 10 and wait for them to go back up, then move to the ALTs within the top 100 on CMC with good solid fundamentals and ride that wave. After this it may become safer to speculate on new projects again for 2017ish returns.
Categorised in: Cryptocurrency Markets
This post was written by BlockAdvisor