Now Isn't The Time To Hold A Weak Hand

in steem •  8 months ago 

Sure Up Your Hand

image.png

With Bitcoin's value performing very well this year, many in the crypto space are back buying shitcoins and hoping for the next altcoin bull run. I hate to be the bearer of bad news but we may have missed it already. Between April 1st and the end of June, the altcoin market nearly doubled, going from $72 billion to a high of $142 billion (see chart below). It wouldn't be wise to expect more significant gains from altcoins this year, especially those that are very speculative.

chart.jpeg

Over the last month, I've been converting all my speculative alts into Bitcoin and Ethereum. The allocation I'm moving towards now is 50% BTC, 25% ETH, 25% altcoins. There is only a handful of alts I feel comfortable holding in the current market. One thing those chosen few have in common is they are actively being utilized and have a large community behind them. The 5 coins I have significant holdings in outside of BTC and ETH are Basic Attention Token (BAT), STEEM (STEEM), Binance Coin (BNB), KuCoin (KCS), and Maker (MKR). Proven coins that are leading the road to adoption and have enormous upside potential. With that said, they still won't weigh more than 25% of my portfolio.

With the halving coming early next year Bitcoin dominance is likely to keep creeping up, punishing altcoins in the process.

*This is not financial advice

steemgiphy 1.gif

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  
Congratulations! This post has been manually curated by @leocurator and will be showcased in the LEO Curator Daily curation feature post. "The LEO Curator blog intends to compile all top curated #steemleo posts for the convenience of other LEO users in search for time worthy posts."

Great perspective and I agree, although I never heard of maker but love binance.

Posted using Partiko iOS

Thanks man. Yea maker is one of the projects leading the DeFi movement. It's valued pretty high though...

Congratulations @theblvcktable! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :

You received more than 2000 upvotes. Your next target is to reach 3000 upvotes.
You distributed more than 1000 upvotes. Your next target is to reach 1250 upvotes.

You can view your badges on your Steem Board and compare to others on the Steem Ranking
If you no longer want to receive notifications, reply to this comment with the word STOP

To support your work, I also upvoted your post!

Vote for @Steemitboard as a witness to get one more award and increased upvotes!