August 1 Means Altcoin Fever!
Yeah, while all y'all are waiting for the fun to start with your Bitcoin Cash Hash Block Action or whatever they're calling it...
I'm just sitting back, kicking back, and watching the action.
All of the altcoins on my Poloniex screen are up vs. BTC.
And BTC is at $2690 as I write this, which is not too shabby.
A couple others that I hold over on Cryptopia are doing well, too...
INSN is up 13%
ERY and SIGT up a few percent each
And lending on Poloniex created a really interesting opportunity that I took advantage of last night:
These are the loans currently on offer; I was able to lend a small amount of BTC yesterday at right around this range, for a 60-day term.
Folks, it's going to get more interesting as days go by
Hang in there. Keep it real. Watch the tickers. Stay grounded. Do your own research.
And remember, unless it's life and death, it's not life and death.
same here.... holding all altcoins.... way to go... hope it will hit high soon....
The big question...did I hold the right altcoins.
Holding all my altcoins! :)
Hang on...could get bumpy.
What could be the reason for altcoins skyrocketing while their dad is falling down ?
One reason: alts were really beaten down. People took their BTC and moved it into cold storage and/or their own wallets to take advantage of a fork and the possibility of new coins.
Now, once we've reached the "ex-dividend date" - so those who owned at the time of the "fork" will have access to the new coins plus the old - their BTC is left gathering dust. Makes sense to put it back into alts.
Some folks who understand this better than I do will weigh in to tell me if I'm misunderstanding this. I lean on @jerrybanfield and @hilarski to gauge my accuracy here.