Crypto News: CNBC Prediction of 'Crypto-Rotation'
Many predictions have been made for what to expect in cryptocurrency markets in 2018. In a recent article by CNBC their top analysts made some bold statements about what they expect will happen this year. According to Bitcoin bull, Tom Lee we are about to experience a "Great Crypto Rotation" this year.
"The rotation we're referring to is among the smaller alt-coins and the large platform tokens," Lee says.
"We think 2018 is going to be a story about rotation," Lee told CNBC on "Fast Money" Monday night. "But the rotation we're referring to is among the smaller alt -coins and the large platform tokens."
Lee is the head of research at Fundstrat Global Advisors and an early adopter of bitcoin. His theory is that alt-coins, or smaller coins with a market cap of less than $3 billion, will experience the biggest gains in 2018.
One of the top performers in 2018 so far was the alt-coin raiblocks, which still only has a market cap of less than $3 billion. It is up over 600 percent for the year.
Generally when big news outfits say to do one thing, I normally look to hedge my bet in the opposite direction. When they say to go left, I'm looking to go right (assuming there's good reason to do so...). If they are saying its a good time to buy altcoins, I'd think its about time to get more Bitcoin.
One positive note was that Lee said his firm considers bitcoin's fluctuating prices, "very healthy given the strength of the gains seen in 2017."
According to Lee, he said that Bitcoin should still reach $25,000 by the end of 2018.
What do you guys think about this advice? Which altcoins do you think are the most promising for 2018?
Thanks for reading @Techblogger!
Source:
Missed the initial bitcoin wave? Try smaller cryptocurrencies like stellar and neo, says strategist Tom Lee - CNBC
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Pretty interesting. I think this is the first time I've heard of a major news Network saying anything positive about crypto. Didn't see that coming :)
Glad you caught that @inquiringtimes! I felt the same way which was what motivated to write this article... I remember how much fud was thrown around last year. Manipulation at its finest. I wouldn't expect anything less from a network like CNBC.
Maybe they the ones propping up tether ;) who are the people putting app that money into tether, pls tell me
If you can't beat them, join them that's what they say. Maybe these critics finally given up on destroying the credibility of crypto and just decided to join the fun ^^
I think Neo is heading for number 3 with EOS taking its time to catch up but eventually doing so. I’m focusing on these two right now. I put a fair amount into wabi, substratum, Icon, and looking to put more into raiblocks and omg. Still, I’ve got the most on Steem by far, and it will stay that way.
That could be. I know I keep yammering on about four years ago,but the Great Altcoin Bubble of 2014 got going when and after Bitcoin topped out.
Unfortunately, it was pushed by excited speculators hoping to catch the "next Bitcoin." That meant a lot of crap got a lot of money thrown its way.
This is one time when I'd be slow to throw BTC or Ethereum at a new ICO. Hardly any of the altcoins started up in '14 survived.
I don't care much about these predictions. I'll just stack and stack and be happy :)
Yeah! Lee is a very good analyst and have been following his speculation about his forecast as at last year, and it fell into place as at last year due to bitcoin and it really had a good push up. So i soley believe in his predictions,why because alot of nations are really imbibing the idea of bitcoin as a legal tender and an office was bought in bitcoin. And have seen charts dating back from 2015-2017 which signifies that by this time of the year bitcoin do experience a drop down but at later months,it do get a high push up.. so i concur on lee's forecast and i cant wait for that great push period. Thanks for this very vital info. And this is a pic of my statistics on bitcoin
Most promising alt-coin for 2018 is EOS, without a doubt! It's a game changer people. It allows parallel processing, 50,000+ transaction per second and a proven self governance model. All this just means that it's "one of a kind" in it's speed, security, and decentralization. Other platforms have parts, but not all of the amazing tech that EOS brings to the table. Owning EOS tokens = owning bandwidth on EOS platform. I just put out an article a few days ago titled:
EOS advantages for token holders
I think bitcoin will reach $25000
But altcoins are also going to see some gains due to their activities of developing their coin for a purpose
I hope it will be true. Either way, I'm fine with its current price ^^ but if it goes up to the moon then Thank you!
Looks possible that might happen but then again it might have a nice rally end of year That might be higher then anyone can expect.
It looks like the Bitcoin will have some good days in 2018. Don't know how many of them. You must check almost daily the charts. I wish all the best for this one but i think too that it is going to hit the 20K again.
You are great predictor and your post always composed of great information @techblogger keep it up 👆.
I think, It's price can go up to 30k+.