We’re continuing our review of the top Early Investing reads of 2018. Today’s focus? Crypto.
The crypto markets took quite a beating this year. Bitcoin fell to 15-month lows earlier this month and has plummeted more than 80% in 2018. Ethereum has struggled mightily this year. And altcoins have also slumped lower.
But this isn’t the time to cut and run. Instead, it’s a signal to take heart and “hodl.” The fundamentals of bitcoin and other cryptos are strong. We expect the market to rebound. Don’t get caught up in the short-term price swings – even when the short term feels long.
Today’s roundup just might soothe your spirit…
By now, most people know what bitcoin is. But there’s still a lot of uncertainty as to why bitcoin was created. This piece explains that in clear, concise terms. It’s the kind of primer you can take home to your dad so when he asks you for the hundredth time, “Why should I bother with these bitcoins, anyway?” you’re ready.
There are true believers… and then there are other investors. Actually, there are several other kinds of investors – and they all played unique roles in the five waves of crypto investing.
Back in January 2017, bitcoin dominated the crypto market with a roughly 85% market cap. But later that year and in early 2018, altcoins started to catch up. Today, bitcoin accounts for about 55% of the crypto market. It’s fascinating to look back at this snapshot in time when altcoins were just beginning to surge.
Assistant Managing Editor, Early Investing