Market Slumping... what to buy?

in #bitcoin7 years ago

If my previous post was correct and we are seeing a lasting slump in Bitcoin, the next question is what options are available in the marketplace for projects which may increase during a market slump?

Among the major projects, I am just going to stick with two, STEEM and EOS.

Most Major Projects Follow Bitcoin

Most projects have no unique demand for what they offer, apart from them being a component of the cryptocurrency market as a whole. If the whole of the cryptocurrency market is remaining slumped for some time, then we are going to be looking for projects with the potential to buck the trend in the first half of 2018.

During a slumpy market, I dislike most projects

Until bitcoin wants to turn around and start its ascent higher, I dislike the following:

Ethereum, Dash and others ... to me, these projects remain functions (fractions) of the price of Bitcoin, meaning for them to experience healthy market phases, it's very likely that this is impossible without bitcoin going higher.

Long-term, I like Dash so long as their project keeps pushing forward. It has issued different translation videos in the last month, and they are sticking to their plan of quarterly conference calls. Very professional, and I like this about Dash.

Ethereum may be reaching the first stages of maturity. I believe over the next 2 or 3 years, there may be more legs higher for Ethereum because the marketplace is very newbe in terms of doing research and understanding crypto investments. Yet, over the next two years, we should expect projects like EOS to compete directly with Ethereum's antiquated protocol. This is why I suggest Ethereum's clock is ticking in terms of it being a valid investment. In some ways, Bitcoin, I believe has more survive-ability than a project as good as Ethereum.

So while I am not confident to see Dash and Ethereum to price perform well over the next 3 to 4 months, long-term both should do fine from an investing perspective. It is not always good to chicken out of your long-term holds because it's not always clear when the market will turn the corner for the better.

What about NAV coin?

If you're long-term investing in NAV, I would wait for a spike to sell it if you're looking to liquidate. Even on a minor market rally for the major coins, coins in the area of NAV could find a temporary spike going forward, even though such a spike could be months away.

Anonymous DAPP's are less thrilling to me these days because I do believe other projects have beat NAV coin to that project goal completion. The thing is, for some silly reason, no project is strongly marketing Anon Dapps to make it a big deal. The project I was told had completed Anon Dapps, never mentioned it on their homepage, so it is difficult to find out if this news was true.

NAV is still pursuing decentralized applications, in fact, they have further outlined and moved along that path, as visible on their Roadmap: https://navcoin.org/community-roadmap/

My primary concern with NAV coin is it is using old generation technology and patching its way forward, instead of having fast, fresh innovation implemented speedily.

What I mean by the above statement is no part of NAV coin's development track has them aiming for 10,000+ transactions per second. They are not headed there. They are content at being on the bleeding edge of the soon to be dying 1st and 2nd generation cryptocurrency technology. Personally, I prefer projects aiming for the bleeding edge of the next generation of technology (EOS).

If anyone is going to seriously use a blockchain technology to implement real-world solutions which are integrated to internet websites getting millions of views and interaction, NAV along with all the rest of cryptocurrency does not get there.

In "theory" IOTA might but IOTA is only a currency. Not in theory, EOS will get there. STEEM is already there in a sense.

Now the upside of NAV coin is that they continually do updates and continually patch, and their project team does a good job at things. I trust their project team to keep doing this, meaning that very likely, they are still a good investment, even if I think they a long-term dead-end.

Being a dead-end does not mean no one should own the project, I still own some. Most of the top 10 cryptocurrencies, I consider to be dead-end projects that the market temporarily likes until something better comes along. Money can be made on dead-end projects, for sure. It is just more exciting if a project is not a dead end.

Ripple could buck the trend, potentially...

Ripple has a different market dynamic driving it, in my view, since it is being integrated with the traditional banking system. It has fundamental factors driving its situation outside of cryptocurrency world, meaning it does not have to fair how the rest of the market fairs. This all said it has crashed, and it should take some time to recover before the next rally begins.

CONCLUSION:

If you're looking to put money to work, there may be greater slumps ahead to buy at lower prices. Also, if you're looking for something to buck the trend by July 2018, I prefer EOS and STEEM. This doesn't mean they will, but both projects have fundamental positive events coming up early this year which are significant enough to drive individual investment into their projects.

The other projects which may buck market trends I would say are in the 200+ rankings... if you can find a 'good' project under 10 million market cap which will move up to 100 million market cap, this could be a good pick too. If you find one, let me know.


Channel Support:
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ETH Donate: 0xCCa7DD999f3F0CBb890861Ce5577b44102Fa4319
EOS Donate: 0xCCa7DD999f3F0CBb890861Ce5577b44102Fa4319
NAV Donate: NNvpuRvL2dMDtUhsTwvTDG2bbG4QbSwm75

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Great post. What event does Steem have this year that will drive investment?

SMTs google it

Thanks. I have researched SMTS.

Check out this post, sounds interesting. (And if you like it, please upvote me ;)
https://steemit.com/smt/@flauwy/smart-media-tokens-and-steem-hardfork-are-a-sleeping-giant
Ps: hivemind sounds terrific! Didnt know about that steem project until today....

My holdings are 80% eos and 20% steem. Should i buy more steem, eos or 50/50?.... currently i dont even have half BTC.....any advice? Haha.... Love your posts! Upvoted!

Hey it's a good question. I don't think there's an easy answer for which is better at present.

EOS has more risks than Steem... could be hiccups come June 2018 when it goes live. A lot could happen that we are unaware of. Steem is associated with a proven network, a proven website, and is doing SMT's which should be a home run.

So if we are looking into December 2019, I would compare the two projects like this:

  • Steem has lower risk, especially down at $2. Steem also has less possible upside. Steem could be what, 10 billion by then? So 20x upside possibility from the price at $2 today.

  • EOS has higher risk, but it could hit $100 bil if it is really successful as a platform for blockchain apps that people use on their phones. It could also have a thriving ICO market. So 100 bil is the possible upside for EOS, this too is like 20x as of today... but if crypto as a whole goes crazy, or EOS turns out to be sustainable and just the long-term solution for blockchian, EOS could possibly become something like the next Google. In which case 400bil + isn't unreasonable. This is not guaranteed, and it depends on events that happen in 2019 as to how useful, and how many people want to use EOS after it launches.

i think i will wait for one last dip.....global market cap is not fireworks still to me, when that dip happens i will buy more steem.
PS: have you try renting some of your steem power? i will give it a shot when i buy more steem...

@crypto-investor EOS launch might or might not create some bullishness, depends on how cleanly the community handles the creation of the genesis block I guess. After all EOS is open source, anybody can launch an EOS blockchain without regard for the initial distribution (not saying this will happen though).

Cheers!

This same problem exists for all blockchains and all other projects every day. The trust component here that we won't be shutout of the EOS genesis block is realizing that ultimately exchanges are going to define what the EOS genesis block is. Certainly there may be multiple genesis blocks.... but the exchanges are going to pick the Genesis block that followed the rules, because the one that followed the rules is the one that has the correct balances for all their customers on their exchanges.

So it's fine if anyone else launches the alternate EOS, just coinmarketcap.com and poloniex, bittrex, and bitfinex, ect are not likely to call that alternate genesis block EOS. It's something else.

I think people brought this up because they got too hung-up on the language of the EOS crowdsale without realizing the crowdsale just stated in writing what is a reality for all cryptocurrencies every day.

Fair point about exchanges @crypto-investor. To add to that I believe that Bitfinex (where EOS tokens were first listed and went through months of accumulation) has already hoarded a large balance of EOS tokens which I suspect they'll stake to become a block validator on the EOS blockchain once the network goes live. Being a validator is in their best interest since they've announced their intention to launch a EOS-based DEX.

Yeah, one of my friends plans on doing EOS New York, I believe. It's a good business model because if they're selected to be a node by the EOS network then I believe it pays well. From what I know, initially EOS will have less than 100 approved nodes worldwide in terms of doing the main validation of blocks within seconds. Kind of like Steem's model.

Markets will be boring for some time while the uncertainty plays out related to the Mt Gox whale give the supply of BTC he has to sell and more importantly, regulation. In the meantime, fundamentally, adoption will continue to increase as the projects supporting the assets push technology and use cases forward. Given that I highly doubt US regulators will push away innovative industries such as Cryptos, I see a healthy future where balance between regulation, security and demand will move the market forwars for thise projects that focus on achieving the goals of efficiency and solving economic issues they are meant to solve.

I believe you are spot on. The future of blockchain is certain and it's implementation and adoption will only continue to grow. Nevertheless for investors the question remains, what coins will be the ones reigning by then, will prices bounce back for current leaders in the market like BTC or ETH?

while the market tank i missed out earlier on EOS finally bought it now feeling relieved :D

long term will be good for both eth and dash :) holding it for long and it test patience but cool

As long as it's been around(~4 years), and as good as I know the fundamentals to be, it's hard to understand why none of the bigger YouTubers talk about #Pinkcoin at all. Especially being on both Poloniex and Bittrex, and almost definitely being the fastest way to transfer funds between the two when I got into crypto about a year ago. I've tried over the year to enlighten a few of my other favorites, but so far it's proven mostly futile. I did get "crypto hedge" to look at it during a livestream but he was drunk and rambling at the time...

Rather than go on another one of my usual rants, I'll leave a link to a great article written by @TheJadeCrow on behalf of @idcinc (https://twitter.com/IDC_inc) - of which I am a co-founder.

https://steemit.com/cryptocurrency/@idcinc/pinkcoin-has-created-a-manifesto-for-a-better-world

Not much would please me more than to see one of the TA specialists I respect the most finally give some significant recognition to PINK and do analysis on it. No hard feelings if not though. I appreciate all the work you put into your videos and very rarely miss one. Have fun with all the green we'll hopefully have in the near future.

Very nice article, although the market is looking quite hurt right now, give it time it will recover. It has been through worse! Given you an upvote for your great work!

Also if anyone is looking to get some crypto without investing or mining, have a look at Crowdholding. They are a co-creation platform where you are rewarded in crypto.

Here is the link if you are interested :- https://www.crowholding.com

Sounds interesting, but why cant you run an app like this on steem or eos....(and the link does not work man)

Most Cryptocurrencies Decline by Over 15% in Market Slump.The cryptocurrency market was hit with a series of negative news and developments. Some regions are still recovering from trading ban FUD initiated by the South Korean government and most recently, the Indian government.

i am looking to buy those who are in cents now and has the potential to go up : )