The top 9 cryptocurrencies of 2017, in terms of market cap, are visualized in this one chart. It is a 6-month chart, and it includees the star tof the big rise of altcoins in March of this year.
It is amazing to see how strong most of these cryptocurrencies have risen.
Interestingly, there is a diverse picture since June:
- Bitcoin, Ethereum, NEM, Dash corrected or consolidated, but are rising again, and look bullish.
- Litecoin consolidated but seems to be setting a series of higher lows now, and could be breaking out big time once it breaks above $55.
- Iota and Neo are consolidating their recent gains, and are preparing a sharp move higher or lower
Probably the wisest thing to do for holders of any of these top 9 cryptocurrencies of 2017 is to simply do nothing. Not engaging in a trade is also trading. The big risk with cryptocurrencies is that one gets seduced to trade more frequently just because they are so volatile. We refer to our Cryptocurrencies Investment Guide we wrote earlier this year for more valuable tips on cryptocurrencies investing.
If there is one tip we can give to any holder of any of these top 9 cryptocurrencies is to relax and enjoy the ride. There is a good reason why the cryptocurrencies included in below chart are among the largest ones: they offer some form of intrinsic value. And as the crypto boom only got started, it means there is much more upside potential.
Another important tip we can share is to research and follow what type of intrinsic value exactly is offered by any of the cryptocurrencies you hold. For instance, Bitcoin has a wide acceptance, Ethereum is the go-to coin for exchange of crypto assets (think if tokens), Ripple solves the very long waiting time for cross border payments and it reduces it to minutes (instead of days), Litecoin can handle a large volume of payments and transactions, etc.