E L Emerson
Here’s the latest Bitcoin excerpt from HNW’s Altcoin Top 25 weekly update, where we chart the performance of the leading coins, give you insights into what makes each one valuable, and look at trends, trading ranges and when to buy and sell.
You can sign up to receive HNW’s Altcoin Top 25 weekly update for free right here ->
Saturday Price Range
$11,500 to $13,000
High $14,520 (13 Jan) | Low $9,560 (17 Jan)
$19,500 on 18 Dec 2017
$3,000 + up since the mid-week low
The trading range swung $12,500 and $17,500 for the majority of the last four weeks before dipping into lows not seen since the run up to December 2017. But keep in mind that Bitcoin is up 1,280% over the past year.
It’s not easy being king.
The coin with the highest reigning price and market capitalisation ($251.7bn) also has the greatest financial hill to climb to get to the next level. In other words; it’s far easier to expect gains of a thousand percentage points or more from the likes of a Dogecoin, ByteCoin or Dentacoin – whose per unit values are right now priced in at fractions of a cent – than at the significant heights of Bitcoin’s current $12,680.
And that’s simply because it needs to break into the mid-$20k range just to double an investor’s money at today’s price.
Now, the so-called “experts” have lined up their 2018 predictions for the altcoin alpha male suggesting it could reach anywhere from $30,000 to $100,000 this year. But let’s be honest, no one can see into the future.
What we do know is that Bitcoin has continued to operate in the crypto Dark Ages, relatively speaking, because its developers have yet to step outside of the company’s White Paper ethos and fix some nagging problems; like transaction processing time.
Other altcoins have already bridged that breach, thereby making them more competitive and trader-friendly with exponentially faster transaction times. Right now it takes Bitcoin about 10 minutes to process seven transactions. That’s glacial speed in this world. And as the user network grows, that problem is getting worse.
However, Bitcoin and Ethereum still hold the keys to the gate through which all must pass to access any of their altcoin brethren.
So, if you’re after the safest bet in cryptocurrency investing (and that’s not saying much), try and pick up Bitcoin this year at $10,000 or under and hold through 2018.
You might find yourself very happy at the end of this year.
Buy & Hold – Ideally at $10k to $12k or less.
Want to Find Out More for Free?
Sign up to receive HNW’s free Altcoin Top 25 weekly update on our home page here. You’ll get insights into the performance of the leading coins, what makes them valuable in the market, our buy and sell recommendations and the news and analysis to help best inform your next investment or trade.
Get HNW’s Altcoin Top 25 update and make the most of your cryptocurrency trading.
Follow HNW here - For the life you want to lead...