The plummeting value of legacy coins like LTC is very telling for what the future holds. A new era of altcoins has cropped up, taking the place of the coins that we found our profit in. But as the market moves, so must smart traders.
While the value of Bitcoin skyrockets, all altcoins will necessarily suffer in price in relation to bitcoin. People will sell their alts in order to ride the train going up!
With every bitcoin all time high, there is fresh blood. Make no mistake, as the BTC climbs ever-higher, people will feel as though they have missed out, and look for “cheap” alternatives. We are here to take advantage of those people. There will be new money coming in daily, as new traders try to get-rich-quick. Some will succeed, but over time, most will lose.
So what coins will they be buying? LTC? CANN? VTC? Any other classic PnD coins? Or will they, like 99% of the population, be influenced by sites like coingecko and coinmarketcap?
Make sure you have your finger on the pulse of what’s popular. I personally missed out, but this isn’t the end of growth for XMR and ETH. My next articles, while they may be spaced out, will focus on the differences between “original” and “gen 2/3” alts.