Forbes: Bullish Signs for a Number of Cryptocurrencies

Written by:
Guest
Published on:
Jan/07/2018

On Sunday, Forbes featured a piece on the explosive cryptocurrency sector.  In particular, Ripple and other cryptocurrencies corrected themselves heading into 2018 following a 40% plunge during the month of December.

“I wouldn't read too much into it,” says cryptocurrency expert Kyle Samani. “The crypto market is 99% noise right now. In general, we see rotations between BTC and alts. First half of 2017 was alts, 2nd half was bitcoin, seems like we're back in an alt cycle.”

From Forbes Panos Mourdoukoutas:

There’s a good explanation behind the rotation among Bitcoin, Ripple, Ethereum, and other cryptocurrencies. Some cryptocurrency exchanges require Bitcoins to pay for coin transactions. So, investors who already own Bitcoins have to sell them to execute those transactions.

Rotation from one coin to another isn’t new to investing. It has for years been applied on Wall Street, where investors rotate funds between “defensive” and“cyclical stocks,” at times when interest rates, ie the “opportunity cost” of money, remain low.

That’s bullish for stocks, because it confirms that money is staying within this asset class rather than moving back into money market investments.
And that’s bullish for cryptocurrencies, provided that interest rates remain low, and the hype for this new asset class remains alive for some time to come.

Mourdoukoutas acknowleges that cryptocurrencies are "radically different than traditional assets" in that there is no cash flow, making it difficult to determine any intrinsic value in the short term and viability in the long term.

- Aaron Goldstein, Gambling911.com

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