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Monday, October 9, 2017

Bitcoin skyrockets as alt coins get left behind...

Bitcoin just broke the $4800 mark today, and usually when this happens alt-coins (at least established ones) follow closely behind. But this time they aren't. Why?

Bitcoin's hard forks.
Two new forks, Bitcoin Gold and SegWit2x are coming soon, and owning bitcoin means you automatically get these. In other words, people who would normally be buying alt coins are basically viewing these new types of bitcoins as if they are new alt coins. But instead of participating in an ICO, all you need to do is buy some BTC now, before the fork.

Stability. 
It's been a roller coaster for alt coins lately, pump and dump schemes and ICO's promising the moon and delivering nothing abound.  Sure, it's a thrill ride for those investing for fun.  But for serious investors, waking up to being 40% up or down on any given day is a stressful ride, and bitcoin's stability relitive to alt coins is becoming more and more appealing.

As 2017 comes to an end, it's safe to say we'll have an exciting few months ahead.

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Author: Justin Derbek
New York News Desk