So, for some time now I am again venturing into the space of cryptocurrency coins. The last journey I was on, began 4 years back, when I still was holding 2 mined Bitcoins, which I was trading with on a – for it’s time – very popular exchage named MtGox. If you google this exchange, you will pretty quickly find some angry postings about that. That has a simple reason: It went bankrupt. And with it, it took all the coins people all over the world were investing. For the next four years, I was just following news on bitcoin and other cryptocurrencies, but never thought about getting back into the fun.
This changed some weeks ago, when Sascha Pallenberg (many still know him from eeepcnews and mobilegeeks) created a public telegram group to discuss cryptocurrencies. I took some money in my hands and started speculating on altcoins again.
In the coming days things went as expected. I earned some coins with clever investments and of course reinvested those in different altcoins. I made myself a portfolio with around 20 coins to this date. Also I invested a small amount of Ethereum in a service called Bitsequence – they basically promise you 3% revenue every day based on the investment you make. I am now at an ROI of 40%. So in some more days, this investment means daily new Ethereum for me, without laying any hands on it. (Update 31.01.2018: Bitsequence was SCAM!)
So what happenend in the past days? Well, the first real major “crash” or course correction as professionals call it, since many new amateur investors joined the game, happened. Litereally all of the coins went on a free fall; many investors paniced and sold off all their assets leaving the market in an even steeper waterfall of red figures.
Selling off all assets was definately the wrong decision at this point. The real money is in situations like these. Invest more! Buy more altcoins you always wanted, invest time and do the research yourself. Crashes like these happen all the time and it is your opportunity to make something out of it.
Speculators were already projecting the recovery of the coins but weren’t really sure when it happened. It turned out, it’s going to happen today. Thursday 18.01.2018 is the day, where most of the altcoins are having green figures again.
So to keep things short and simple, I will not make this post any longer, even though I would have so much more to talk about. Instead I am planning to update you guys a bit more often and frequently.
Last but not least, I want to give you my opinion on what’s worth to invest in at this stage:
The best idea is still to invest in one or more of the most stable primary coins, such as Ethereum and Bitcoin. Litecoin has proven to be one of the most stable currencies out there at the moment. Whenever there’s a drop, you can be sure it will come back to what it came from. It will not make you huge amounts of new coins when you hold it, so buy it when it’s low and sell off when it’s recovered. Invest in the big players and hold those. BTC, ETH.
Which altcoins to invest in at the moment? I am not a finance guy and all my tips are of course my own opinion. Do your own research and then invest in projects you like. But:
At the moment I like the projects behind Loopring (LRC), Substratum (SUB), Nebulas (NAS) and ETHOS (BQX). Also take a look at the graphs of NEO, VEN and EOS.
AGAIN: DO YOUR OWN RESEARCH. Invest wisely!