First chart on VRC, so take it with a grain of salt.
After spending the last 4 years trading Bitcoin, I'm going to give it a try at some alts. VRC looks interesting as it appears to have a large C&H formation which has recently completed and the rally has already begun, but it's still early. The depth of the cup shows potential for approximately 4000% increase during this rally, so I'm estimating that buying at todays numbers of $0.58 and giving it a month or two, may see it rise to $16/VRC.
The real question will be if the rise continues beyond the Bitcoin fork and if the alt's are truly breaking away from Bitcoin to become their own markets. I don't see it that way. I believe the rapid rise in bitcoin is making it easier to buy these alts by diversifying a small portion of your hold in Bitcoin and buying some alts to see 10-20x or greater returns with some of these volatile rallies.
For now, I'll buy some VRC and hold for the fork, watch the fork and decide if I will continue to hold for the next 3-6 months. If things go well and still appear to be moving upward, I'll then decide if I want to hold the VRC or move it over to BTC for the FOMO rally after we hit $10k and start towards $20k with a target of $200k/BTC within 5 years.
After spending the last 4 years trading Bitcoin, I'm going to give it a try at some alts. VRC looks interesting as it appears to have a large C&H formation which has recently completed and the rally has already begun, but it's still early. The depth of the cup shows potential for approximately 4000% increase during this rally, so I'm estimating that buying at todays numbers of $0.58 and giving it a month or two, may see it rise to $16/VRC.
The real question will be if the rise continues beyond the Bitcoin fork and if the alt's are truly breaking away from Bitcoin to become their own markets. I don't see it that way. I believe the rapid rise in bitcoin is making it easier to buy these alts by diversifying a small portion of your hold in Bitcoin and buying some alts to see 10-20x or greater returns with some of these volatile rallies.
For now, I'll buy some VRC and hold for the fork, watch the fork and decide if I will continue to hold for the next 3-6 months. If things go well and still appear to be moving upward, I'll then decide if I want to hold the VRC or move it over to BTC for the FOMO rally after we hit $10k and start towards $20k with a target of $200k/BTC within 5 years.
