Most alts pumping ! The new Gold rush ! 💰⛏
👇 Bittrex alt coin prices now 👇
Normally when Bitcoin is high we see most of the alts in the red, but for the past week as Bitcoin has remained high most of the alts have been in the green. Some doubling in price overnight.
I think the reason for this is that a lot of newcomers and also people who have been into crypto for a few years are all looking for the next "Ethereum" after they have heard the stories of people buying $1000 worth and are now sunning themselves in Hawaii off the profits.
The crazy thing is it seems to be a self fulfilling prophecy. The more people that pump money into these coins where they don't even know what their purpose or intended use is, the price rises. Others then have FOMO and also invest which pushes the price up even more. But how long can this last?
As usual thanks for listening
Happy Steeming Steemers and Steemettes.
permission share brother
Thanks for resteeming. Followed you.
Yeah many people are just purchasing crypto without thinking, if something wrong happened than how they will survive with heavy loss. Thanks for your caution, we must need to be careful when purchasing any crypto and must need advised from expert.
Yes. I'm guessing a lot of people will be using credit cards which won't end well.
All I know is that BTC will not end well :)
Yeah we are agree with you.
If you follow me after reading this post let me know in the comments and I will follow you back :)
You are correct in that assumption, you know. What we really need to start seeing is more people using cryptocurrencies as actual currency for goods and services. A reduction of volatility will definitely help this along.
I agree. Sadly a lot of people have little to no interest in the currency side of cryptocurrency. This alt bubble has to burst at some point because most of these coins have sat for years doing very little, because they are basically useless. It's like the dot com bubble where people would invest in any company related. Hopefully this wont bring down the useful coins like Steem.
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I am collecting and holding altcoins for free, so I do not care if something will go wrong. In my opinion the blockchain revolution is yet to come, so I have no worries how it will end at last, because it won't :)