Watch ETC (Ethereum Classic) and LTC (Litecoin) at these levels!!!
At this point in the game with Bitcoin and Bitcoin cash collectively being worth over $3,700 USD and a combined market cap of above $61 Billion according to www.coinmarketcap.com, it is high time for there to be some "trickle down" appreciation of LTC and ETC. (You will notice that I left out ETH from this equation, more on that later)
Both LTC and ETC have theoretical coin caps and have both been immutable ledgers. (LTC has a cap of 84 million coins, and ETC has a theoretical cap of around 230 million as indicated by the devs) I believe this is a fundamental aspect to price appreciation (i.e. a cryptocurrency being a legitimate store of value). Additionally, both of these have historical track records similar to BTC as well as a an active dev team. Finally, both are relatively decentralized (not as much as BTC but over time they are set up to be just as distributed)
ETH is not a candidate for the "trickle down" effect in my opinion because it is not a store of value but rather an access token with potentially unlimited token issuance. The price may appreciate in the short term but only because it is needed for a pending ICO or for short term speculation. If/when ETH moves to proof of stake, the inflation rate will theoretically come way down but at this time we don't have any clue what that system would look like.
I'm not specifically recommending anyone buy any of these tokens, but I am advising you to watch them carefully to see if they may be worth a buy here at these levels. I think LTC has room to run to 10 Billion market cap in the medium term and the same goes for ETC. If I'm right that would represent gains of about 4x for LTC and more than 6x for ETC from current levels.
ETH seems to have price movement that follows Bitcoin. I suspect much of it's recent rise is due to Bitcoins gains.
The hype cycles are starting over again :) We have a few more days or a couple of weeks tops before we see another nice correction. Gonna be a very good week for BTC/ETH/LTC IMO
https://steemit.com/bitcoin/@hotsauceislethal/bitcoin-price-forecast-8-8-2017
I agree with that but see it more as a speculative "in-and-out" funds flow vs correlated "trickle-down" revaluation. Thanks for the reply - - Cheers
I already OWN all of these tokens :) ETC is super undervalued it should be about 10:1 v ETH but there aren't enough devs using their chain. Look out for Zcash as it likes to peg closely behind ETH and is about $60 behind as of right now.
I was thinking of picking some Zcash up as well. Haven't really looked into it though - - what is the value proposition for it?
Very good blog. Really appreciate you bring this to our attention. Though prices might seam inflated for now I don't think they will look like this 2, 3 years from now. This is quite an interesting website I found: https://www.coincheckup.com The best crypto analysis site by far. Complete in depth investment analysis.