Altcoins Hitting All-Time Record Highs
Bitcoin remains king, topping its recent climb to $10,000 to move past $11,000 only 12 hours later. Its 10-fold gains during 2017 have lifted the entire market cap of cryptocurrencies, raising its fellow coins to new highs. As Bitcoin’s 16-day bull run continues, the conversation is squarely focused on one question: When will it end?
The answer: Who knows. Quantifying the uncharted is not easy. We find analysts on both ends of the spectrum: Bitcoin will expand into the stratosphere, reaching $100,000 next year, or Bitcoin will fall off a cliff. Because of the revolutionary nature of blockchain technologies and their unforeseen impact on financial markets and the global banking industry, the playbook is murky. It’s like the internet. It’s like the telephone. It’s like electricity.
As prognosticators grapple with Bitcoin’s evolution, what we can do is watch the altcoins and their price action relative to Bitcoin.
The key follow-up question to the Bitcoin bubble burst: If it does pop, where do you put your money?
• Take profits, cash out and pay capital gains taxes.
• Tether your funds in digital fiat.
• Transfer your crypto investment to various altcoins.
Smart money is watching several altcoins to see which ones continue to hold their value while Bitcoin takes several mini-dips along the road to smashing record after record.
Assuming a Bitcoin bear trend, investors who want to keep their investments in the crypto market, delaying capital gains, are looking for viable safe havens.
We took a look at several altcoins that are reaching new highs during Bitcoin’s bull run. These coins may be just as vulnerable during a retraction. Conversely, if it’s all the way up for Bitcoin, these altcoins, while doing their own corrections, are set to sprint.
High-volume altcoins and their record highs during Bitcoin’s 16-day bull run
1. Ethereum – topped $500; up 5976% in 2017
2. Ethereumclassic – topped $29; $1.42 in January 2017
3. Litecoin – topped $100; $3.94 in January 2017
4. Cardano – topped $.14; $.02 in October 2017
5. Iota – topped $1.50; $.59 in June 2017
6. Stellarlumens – topped $.10; $.002 in January 2017
7. Dash – topped $773; $12.57 in January 2017
8. Monero – topped $197; $13.00 in January 2017
9. Neo – topped $41; $.12 in January 2017
10. Powerledger – topped $.87; $09 in early November 2017
More mad percentage gains for smaller altcoins over the last 365 days. (Screenshot 12/29/17 8:00 a.m. PST)
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin or cryptocurrency. Your transfers and trades are at your own risk. Any losses you may incur are your responsibility. Please note that The Daily Hodl participates in affiliate marketing.