With all the news surrounding Bitcoin and a potential new coin being created from the split (Bitcoin Gold?) we’ve seen altcoins go into the red.
It’s a shame but as some people say it creates a huge buying opportunity. What we will probably see is the coins fly up in value now as they are so cheap and people will want to pick up undervalued coins that will pop.
This is a strategy I have been using myself. I like to look for coins that have once traded much higher and have now carved out a nice bottom. This allows me to buy a lot of these are cheap prices and when they pop I can earn 40% returns or even more within a few days.
This is the strategy I deploy for most coins. I look for strong levels of support where I can buy coins cheap and then when they finally go back up I am able to pocket huge returns and gain more bitcoin.
Whilst Bitcoin price is soaring I see it dipping back down in the coming weeks after the hype surrounding the Bitcoin split goes away. At this stage you will most likely see people going back into Altcoins and the price skyrocketing.
To the moon!