Top performing cyrptos in this short bull run- LTC 500% and BCH 400%: what are their secrets?

Steem have risen 150% (55 cents) from its recent low of 22 cents. It is quite a handsome return for the those lucky investors who bought at 22 cents in December, 2018.

However, few people have bought Steem at below 30 cents but most of them were trying to lower their average price of buying Steem. I, myself, have bought Steem around 20's cents, but still my average price is 74 cents which I believe is very decent considering historical price of Steem.

However, few coins has seen tremendous upswing in this short bull run from their recent lows. Binance Coin or BNB has seen almost 400% ($19.2) growth from its low of $4.7. BCH has seen 400%($324) growth from its low of $81. Steem's graphene brother EOS has seen 300% ($5.6) growth from its low of $1.8. And, another 300% gainer is Cardano.

However, the biggest winner of this race is Litecoin which has seen 500% ($95) growth from $19. What are their secret? It is their trading volume and name recognition. In case of LTC, it is also the upcoming having reward event in August, 2019.

One of the reasons is that both LTC and BCH fell too much ($19 and $81) from their respective highs of $375 and $3900. Therefore, it can be considered a correction from their respective fall.

Traders know their historical prices and smart whales have accumulated them on their low days. They have cash power to pump them up due to face recognition. It drove retail traders from around the globe to follow their lead and participate.

Now consider also that BCH had dropped shere 98% and LTC dropped 95% from their respective peak. Therefore, 500% or 400% increase can be considered as mere correction. Lucky those guys who bought LTC at $19 and BCH at $81.

On the other hand, Steem dropped 97.5% better than BCH but worse than LTC.

However, Steem is trapped in a market position of 50. It is used to be around 25 in its heydays ($2-8.5). Steem lost its footing on missed deadlines of SMT, bad publicity on 70% firing and STINC's powerdown drama. @dan's leaving has already pushed Steem out from top 20 rank.

However, top 25-30 rank was usual place for Steem historically. Therefore, when Steem is pumped to 35th place, traders and speculators sell it to the ground again to 50 rank thinking it has shot too much. Other reasons are that speculators hate Steem. They are getting out from steem to buy other coins to secure more gains. However, this is a good news for Steem since Steem can rise more organically.

If STINC can release full version of SMT this year, Steem may be able to restore its place within 25-30 again. However, without SMT or SMT alternative such as @steem-engine, Steem is already better than some of the top 10 coins. But due to its relative higher selling pressure and misinformation it struggles against its peer such as EOS or Cardano.

However, when the big, institutional investors will arrive due to Bakkt or other regulated exchanges, they will not probably buy DOGE coin or Bitcoin Satoshi Vision or Bitcoin Gold, since they do not provide any utility for say. They will do their due research and find Steem better than most of the pack. It is already proved that Steem is better coin by virtue of ratings provided by neutral research agencies such as WEISS rating or China's CCID.

It is matter of patience for the disheartened Steem investors to see 300% or 500% rise from other coins. However, they have to lengthen their timespan and see the big picture of the scheme to see the bright future of Steem.

Cheer!

Disclaimer: This opinion is not a financial advice, it my personal perspective and opinion. Please seek professionals for financial decisions.

Image sources: Most images are open sourced (e.g. Pixabay, Wikimedia etc.) with Creative common license. Some images are used with due courtesy to respected owners.

Thanks for reading.
@riseofth
Cryptominer since 2013, occasional trader and tech blogger