Bitcoin (BTC), has a huge sway on the entire crypto market. So much so that you can easily predict the direction that altcoins will take, simply by looking at bitcoin’s price direction. To make matters worse, almost a third of all the total bitcoins in the market are held by just under 1600 wallets. This explains why the crypto market is so volatile, volatility that is slowing down the adoption of more technologically advanced cryptos. But there is light at the end of the tunnel, light that could push up the crypto market way higher than its December highs.
One of the positive emerging trends is that long-term bitcoin HODLERs are selling more of their cryptos to speculative investors. According to a research by chain analysis, more than $30 billion worth of bitcoins changed hands between long-term holders and speculators from December 2017 all through to April 2018. This has significantly widen the number of bitcoin holders, and reduced the capability of a small clique of investors to manipulate the price. As this ratio shifts in favor of many small speculative investors, the price of bitcoin will stabilize.
The result will be a stabilization of the entire market, and an upsurge in the adoption of fundamentally strong altcoins. This could lead to an explosion in altcoin prices to levels never seen before. That’s why even as the market remains depressed, the shift in bitcoin ownership is a pointer to good things to come, for those holding good value altcoins. Cryptos like Ripple (XRP), Ethereum (ETH) among others stand to reap big from a long-term stability in the price of bitcoin.
On top of that, there is an increased chance of some of the major altcoins flippenning with bitcoin. Some of the top contenders on this front include Litecoin, Ethereum, Bitcoin Cash and ripple. Ripple (XRP) and Ethereum hold the best chances of flippenning with bitcoin in the near future. Ripple stands a good chance because of its huge, and growing list of partnerships in the banking industry. At the rate that ripple (XRP) is growing, it is only a matter of time before it achieves parity with bitcoin. On its part, Ethereum has a massive and growing user-base that gives it an edge in the smart contracts space. This leverage could see its price rise in the future to a point where it’s value is no longer correlated with bitcoin’s value.
To conclude, Bitcoin stability, and an increased growth in the major altcoins all point to a future where cryptos will be more usable for day-to-day transactions. This gives investors all the more reason to be bullish on crypto at the moment. The key is to pick fundamentally strong coins that are most likely to benefit from the above factors and hold them. Once the Bull Run comes, such coins have the potential to make you richer than your wildest dreams. Cryptos like ripple (XRP) could be trading at triple digit figures in the near future.