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Bitcoin, Litecoin, Which Coin?

|About: Winklevoss Bitcoin Trust ETF (COIN), GBTC
Summary

Bitcoin is up 100% since I called for my readers to put 1-2% of their portfolio in the cryptocurrency.

There's other cryptos worth seeding some profits into.

Let's re-evaluate where the strategy should go now that you have house money to play with.

If you got an alert and heeded my call to ignore those who are sharing vast and wild opinions of Bitcoin (COIN)(OTCQX:GBTC) just 21 days ago, you would be up exactly 100% on your investment - and I know some of you are as you took up my referral for a free $10 on Coinbase. Granted, this is a small increase in the world of cryptos, but a week short of a month after putting your money in the space you would have doubled it - great by any standard.

(Source: Coinbase)

But, I'd say it's time to expand your horizons. Subscribers to my service Tech Cache were already made aware of my strategy to diversify into other easily attainable cryptos. They were aware of the benefits to get into the likes of Litecoin and Ethereum two weeks ago. Since that time Litecoin has jumped 150% while Ethereum has jumped 65%. Those are great moves and continue to be lower risk for those keeping within my 1-2% initial investment spend of your portfolio recommendation.

The problem with mentioning all of this is as more time goes by and the higher these currencies go, the less likely you feel you have a chance to double or triple your investment. This is a mistake especially when considering the amount of your portfolio you are dedicating to this. Let some of the cash you have sitting idle take some risk in this environment. Even if you see a 50% gain in a month in any of the three (or perhaps all three combined) you are making way more than that cash would ever do in a current stock investment - let alone your cash account.

Part of this diversification strategy rests on the idea of Bitcoin futures. While BTC futures creates an unknown in price discovery and a seemingly mainstream way to short the currency, it gives the remaining, less mainstream cryptos some awareness by way of the hedging process. And, even if the futures trading on the king of cryptos doesn't succeed in slowing down its ascent, other currencies will have already benefited from the rotation to protect against a fall. If futures trading produces anything in the short-term it's likely the growing adoption of trading/investing in cryptos, thus creating a larger investment pool.

Of course, much of this information would be beneficial ahead of things like futures trading and multiple times rises in these cryptocurrencies. That's where my subscribers benefit the most - with my timely calls to move around their holdings within the space. You can benefit as well and at the same price they are paying yearly. But, after the New Year my subscription price will go up. However, if you lock it in now by subscribing today, you grandfather yourself in at the current price for the lifetime of your subscription.

This blog post was sent to my followers as soon as I posted it - don't lose out twice and miss my actionable ideas by not being my follower or subscriber. Follow me and subscribe to my service by clicking the Tech Cache link here.

Disclosure: I am/we are long BITCOIN, LITECOIN.