Quote:
Originally Posted by goobus
I'm a research analyst for a crypto exchange. I think in the long run, cryptos such as bitcoin are going to be worth a lot more than they are now due to the macroeconomic factors at play which affect the long term ability of fiat currencies to act as a store of value.
That being said, I'm sure you've realized there is significant volatility since the price action of these instruments is dominated by speculative demand, which is skittish in nature. If you are going to move more of your portfolio into crypto, I would advise patience and averaging in, and then not looking at it too frequently if you aren't used to the volatility.
If you're talking about buying cryptos other than bitcoin, I think ethereum and some other tokens are also promising, but for a different reason to bitcoin. While bitcoin is a good store of value, other tokens that facilitate smart contracts and decentralized applications are valuable because of their utility and potential to overtake traditional industries such as banking, finance and so on.
Ultimately, make sure you DYOR to build conviction - otherwise you will end up making a lot of bad decisions. Good luck!
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I'm really looking at other cryptos and their underlying ability to modernize current and future infrastructure. It may sound crazy, but I believe virtual reality "cyber worlds" are going to become very mainstream. We already see some of this now. Virtual real estate, stadium seating, etc. Then you have the bank transfers, contracts, etc that can be made much more efficient. In the short term I believe there will be a big need for the tech that bridges the different blockchains and allows them to interact in a seem less transaction. Navigating the seemingly endless current offerings and daily additions is difficult. I'm guessing that's kinda your jam?