Bitcoin and the alts have had an excellent few months recently. Bitcoin is over $16,000 and approaching new all-time highs. Altcoins are rallying with strength as well.
I continue to believe that Bitcoin is the safest way to play this market. However, altcoins have come to life lately. Ethereum is leading the way and is currently trading around $468.
I’m watching one of our speculative picks from a few years back — Haven (XHV) — very closely. It’s done extremely well lately. And it’s still a TINY coin right now with just a $23 million market cap. That means XHV still has a ton of potential.
Another portfolio coin from a few years back — Decred (DCR) — is up an impressive 16% today. Decred has been an overall laggard this year. But I believe it remains one of the strongest pure cryptocurrency plays in the market. I put nano in the same bucket (NANO).
I continue to be most interested in the “pure cryptocurrency” space, as opposed to utility tokens. Pure crypto is where I believe the bulk of the real adoption will be over the coming years — which is why I like BTC so much. We’re entering a period of chaos in fiat monetary systems. And the pure cryptos are best poised to benefit from this trend.
There will be plenty of speculative, marketing-driven action in coins like Chainlink. But I continue to recommend avoiding coins like that. I don’t believe the foundational technology is as revolutionary as its proponents believe. This may be a mistake, but it’s one I’m willing to make.