May 21, 2020 02:30 UTC
May 21, 2020 at 02:30 UTC
Market Analyst Re-enters The Altcoin Market After Bitcoin Halving
Since the Bitcoin halving is finished, market analyst Mati Greenspan is indeed enhancing his crypto portfolio by re-entering the altcoin market.
Greenspan freely bet everything on BTC early this month. Presently, at the time of writing this post, about 6.29% of his cryptocurrency portfolio interest in Zcash, trailed by a 6.68% interest in Tezos, 9.43% Ethereum allocation and 70% is in Bitcoin. Small investments in Litecoin and Dash balance his holdings.
In another release of the Quantum Economics bulletin, Greenspan says Bitcoin remains his main pick because of its solid fundamentals, and concerns over rising transaction charges are no reason to escape.
“There are at least three dozen cryptos that are cheaper and faster, but none of them have the security, digital scarcity, immutability or liquidity that BTC does.”
“Bitcoin isn’t very good with micropayents, and the moment I find myself in a Starbucks trying to buy some coffee with crypto, that’s certainly something that I will consider, but as the value proposition of bitcoin is about having an asset that is disconnected from governments and banks and not about making it easier to buy coffee, I really don’t see any reason to ditch the gold standard at this time. You get what you pay for.”
With respect to Ripple (XRP), Greenspan said in January that he’s bullish on the third-biggest digital currency by the market capitalization and doesn’t believe it’s security. However, he stays concerned about the coin’s all out supply of 100 billion coins, saying XRP “doesn’t have a valid case to digital scarcity.”
Bitcoin’s predominance of the general market capitalization of all digital currencies as of now remains at 66.9%. It has stayed over the 60% mark since July of a year ago.