Partly what’s driving big gains in some of these is the “float” or available supply. This is the thing that the gurus on CNBC don’t mention when they yell “Bitcoin!” Every newb piles in and it jumps up.
Bitcoin’s float is small, so as institutional investors move in BTC pops easy. But it may also be impacted as BTC futures contracts could be implemented. Big investors may trade that way and mitigate the risk.
Since Nov. 29 the breakaway winner is Litecoin (LTC) up 278% since last I wrote. Again, it’s the float that I think drives this movement more than anything. Small supply, big demand.
My recommended crypto (that I own) was Ripple (XRP) that is starting to see movement. Up 33%. Ripple has a larger float so it doesn’t pop as much on lower volume. That larger float also means more buyers can come in easier…price point is an issue I believe, especially as newbies look at BTC and the others and say “wait, $17,000 FOR ONE?” In contrast, $2,500 will get you 6,750+ XRP coins. You can own a fraction of a Bitcoin yes. But BTC would have to jump to $170,000 for new buyers to see a 10x.
Meanwhile, XRP only needs to see $3.70 per coin to realize that. And if you would have listened to me few weeks ago then at $2.80 you’d be up 10x.
However, this is a marathon and not a sprint. I believe Ripple (XRP) could see $2.50 next year easily. And maybe even $25 - $35 by end of 2018. I’m holding. Driving my thesis are two factors:
1) investors could want an alternative to the small float coins
2) Ripple as a company is doing interesting things in settlements; reduced its float via escrow; and some new investment funds plan to use it for distributions.
Overall, if you can play the basket then it’s a track bet. As opposed to one horse. I’m looking for 100x or more so go for the horses with what I think have good legs. Maybe 1000x.
As mentioned before, we are in the currency speculation phase here in my view…the value of each (or lack thereof) will emerge when APPLICATIONS and services using the various currencies become entrenched in digital commerce.
The rocket hasn’t left, yet. It very well may in January/February. Caveat: if you can’t afford to lose it don’t mess with crypto - there are risks! Caveat #2 if you can afford to lose it then mess with crypto.
To buy Ripple (XRP) see this link: https://ripple.com/xrp/buy-xrp/
But, more than money, enjoy your health and loved ones this holiday season (and all year)…and give thanks for what you have vs. the craziness of this commercial world. Yes, it is crazy ain’t it?
p.s. update on my new venture is underway…could change the web top to bottom. Closing $10m and building team now.