Wall Street strategist Tom Lee recommends Stellar and Neo
January 30, 2018 1:48 pm
Tom Lee recommended to Try Small Cryptocurrencies such as Stellar and NEO
“We think 2018 is going to be a story about the rotation. But the rotation we’re referring to is among the smaller alt -coins and the large platform tokens.”
Lee, is also a co-founder and head of research at Fundstrat Global Advisors and one of Wall Street’s earliest investors in bitcoin, points to alt-coins, or smaller coins with a market cap of less than $3 billion, which have gathered more than 300 percent in the last four years, as data of the crypto-rotation trend.
“That generally marks a peak and then we start to see rotation into large cap-quality tokens. We’re starting to see this move into the top 10 tokens and that should actually help large caps rally.”
While Bitcoin was the largest Cryptocurrency, it reached the high level by reaching $19,500. Eventually, it continued to fall down from the beginning of 2018 and reached less than $10,000. At the same time, other cryptocurrencies have performed very well with higher market caps. Including Stellar, Neo, Ripple and Ethereum, have also beaten during the same period.
The rotation of cryptocurrencies allows investors who missed the initial wave of digital currency investment with bitcoin to invest in other digital currency assets, while bitcoin’s specialty is “digital gold,” other digital coins dive into the larger crypto market, offering other options, such as that of payment systems.
Lee told that the rotation of Cryptocurrencies will allow the investors who missed the wave of digital currency investment with bitcoin to invest in other digital currency assets. while bitcoin’s specialty is “digital gold,” other digital coins fall into the larger crypto market, offering other options, like one of the payment systems.
Lee included that his firm:
“Considers bitcoin’s fluctuating prices, very healthy given the strength of the gains seen in 2017.”