So Are We In a Crypto Bubble?
A really interesting article questioning whether we are in a bubble.
"We are probably in the biggest crypto bubble to date. Not only has once again reached its all-time high price recently, but the altcoins have also grown by leaps and bounds.
In the near future, I would expect some large contraction, especially in the alt market. Litecoin will probably dip back down now that SegWit is activated and its rally is over.
It will be interesting to see where the money will flow if the value of bitcoins will pop - whether people will be cashing out to fiat, or altcoins."
If and when there is a significant correction, I agree with the point "it will be interesting to see where the money will flow". As with most corrections, the money flows back, I will focus on two things over the next week or so:
- Taking some money off the table, I am at +750% for the year.
- Consolidating my crypto holdings into those which I believe in long term, as such I may drop coins like Lightcoin and Ripple and increase my position in coins like Factom, Monero and Syscoin.
I will, of course, keep you all updated as to the decisions I make.