The Expected Correction

Market Overview
Sorry, we don’t have better news for you, but pretty much everywhere you look in the crypto markets right now there is red. We don’t have a crystal ball, but we did expect a pullback after the first of the month primarily driven by tax strategies and a normal market correction, but it’s still bittersweet to see. But we’re buying more bitcoin at these discounted prices. Other factors (all hypotheses) are the Chinese bitcoin mining ban, South Korea’s crypto crackdown, and CME futures maturation.
 
Portfolio Snapshot
Perspective is tough right now, but buying just one Bitcoin at $10,000, if prices return to touch $20,000 by year’s end, that is 100% profit. We don’t think that’s unrealistic, and most folks would be willing to accept those returns. If you’re looking for an exchange to trade some alternative currencies on, Bitfinex is once again accepting new account openings.
 
What we are investing in
If something has stayed fairly stable amongst the broader losses as a contrarian position, now may not be the time to buy necessarily, but in the midst of it, we want to highlight some coins and token that have fared relatively well to bring them to your attention:
  • DragonChain (DRGN) We’re continually looking for differentiators – technology, team, profit-market fit, etc. Having such a mainstream successful parent company such as Disney is enough for us. You aren’t really going to find any other coins with such a unique competitive advantage (please don’t say Kodakcoin). As unlikely as it may be they’re in the blockchain space, we think they are agile and forward-thinking enough to actually do something with this coin and it’s not a mere side project.
  • Bread (BRD) One of the few wallets we at Alpha recommend our customers use to buy and hold coins on a mobile device, purchasing their token is a means to share in the already spectacular success of their product as well as support further development.
  • Ethos (BQX) Formerly Bitquence, the price was going against the grain for a while and finally capitulated to the downtrend. They have a fairly untapped yet proven niche in the market (think competitor for Exodus.io) and are launching their product this year. There is a lot of talent both in terms of their team and money behind them.

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