The current crypto market is an intimidating place to be. That is true for all investors, not least the new entrants to the market over recent months. There are also more potential investors who may be afraid to invest in the current climate. This leaves us all pondering the question of which currencies we should really be buying (if any) at the present moment. Let’s run through some options to keep your portfolio afloat.
Bitcoin & the Big Guns
Compared with the back end of 2017, Bitcoin is seeing some rough charts at the moment. This may dissuade many from investing or lead some to proclaim an early death for the founding giant. This all seems a little hasty however. If we just take a look at the longer term charts we will see that Bitcoin is still in a largely positive position from just 12-18 months ago. The future certainly has the capacity to bring more upward spikes.
With the hit on Bitcoin comes a painful hit on altcoins too. This has hit and hurt many who would’ve invested at the peak of the market. As you will hear on most community related media tough, the key is to hold. This still remains true. It is likely that even if you didn’t start out with designs as a longer term hodl-er, you have now become one. This is no bad thing for the future of the sector. If you have the disposable income to spare and you believe in a project, take this current position to buy in at a discount.
There has also been a noticeable reduction in the number of ICOs being released over the last months, with many holding back for release to more positive market conditions. That being said, there are a number of excellent projects upcoming in the months ahead. These are often accompanied by generous airdrops and revised financials and pricing to accommodate the market status.
The current situation exemplifies what many analysts will always advise. Do not invest any amounts you cannot afford to lose. Simply put, if you have the finances to buy in and hold for a while, the current market can represent an excellent opportunity regardless of which currencies you choose.