Why I say "buy" when they say "bubble"
More and more keep calling cryptocurrency the 'B' word
Cointelegraph put out this article today talking about how Aberdeen Asset Management is the latest in a long list of financial organizations, professional investors, and asset management companies calling cryptocurrency a bubble.
But let's think about this.. What would happen if they didn't say that crypto is in a bubble?
These organizations and people have a reputation that is more important than most. If they start losing their follower's money, they will take the heat. If Aberdeen Asset Management were to say cryptocurrency is a good investment, even if they prefaced it with plenty of disclaimers and warnings about the volatility, there's no doubt that there would be blood on their hands as soon as the prices start correcting.
People don't forget when you "con" them into losing money, and that's exactly what would happen.
So what are they putting on the line by saying crypto is in a bubble and shouldn't be touched with a 10-foot pole? Absolutely nothing. Nobody will remember or care about what these guys say when crypto starts gaining traction. They'll forget. There's no risk, all reward.
Keep this in mind any time you hear large asset management companies or professional investors express doubt in cryptocurrency, especially when they start throwing around the 'B'-word.
FUD = Sale
I tell this to everyone who is getting nervous about their Ethereum investment, but it applies to many others as well.
Ethereum is only half way through the major releases. Metropolis and Serenity will undoubtedly cause massive movement in price, and I'm not thinking downwards.
Bitcoin is very close to attaining massive improvements in scalability, directly effecting the cost of transactions. These updates also have the potential for paving the way ahead for Bitcoin to be a lot more useful than it is today. Bitcoin is still young.
Golem, SONM, Storj, Sia, Litecoin, etc., are ALL just babies in the cryptocurrency world. They have so much potential and a whole lot left to show us in the future.
Cryptocurrency isn't at the point where "bubble" can be even close to applicable. The intrinsic value is nowhere near being determined, and I find it naive to think that it will end up being worth less than it is today.
Keep your head straight, consider the motives of people spreading both FUD and hype, and capitalize when others fall into those traps.
Just wait and see the money flow into the market again. The contraction we've seen the past days will be forgotten. My two cents.
I won't forget the gains I'll see on the $215 Ether I bought :^)
Some good perspective there, son.