Crypto Market Alert
For those of you who are unaware, the crypto market has been surging the last couple of days and will probably continue to surge for a couple of more. For those of you who are new I want to let you know that when Bitcoin goes from the ~$2100 to $2300 price range there will potentially be about a $400 drop in Bitcoin, and in return altcoins could go up or down depending on where the money is flowing.
The reason for the $2300 price range is that a psychological price trigger as I believe that is relatively near the highest price of gold (although, goldprice.org shows under $2000) and as it approaches that price people that are traders, not investors will dump their coins into precious metals or other assets.
When/if this happens, be warned that this is temporary and shouldn't take long (whether that is a day, month, or year) to recover. Just be warned that when dealing with crypto-currency, the idea is to invest, meaning you have to think long term (5-20 years) down the road on what the price will be, not short term.
Interesting developments in the crypto arena to be sure. I have always thought of myself as a Bitcoin maximalist, but I have been diversifying more and more into the alt space all the time.
The fact that Bitcoin has been taking off is masking the fact that it is rapidly losing market share. The inability, or more accurately, the unwillingness of the bitcoin core team to solve the scaling debate is now bordering the absurd. Bitcoin is being mismanaged into irrelevance.
The free market in competing currencies has already improved on the original, and will continue to do so.
If possible, investors would be wise to buy any dips in the largest half dozen coins.
I absolutely agree with your statement. I think for the most part, the majority of users are going back to the segwit side
Unless geopolitical events dictate otherwise. Then more money will flow to cryptocurrencies. Many factors play a part and one should be scanning the world politics at all times too.
I think Bitcoin in a year will be $10000 +, I'm just saying short term so people don't sell when the price is going down and buy when the price is going up.
Watching the cryptos explode has made me happy and SICK at the same time. Im a metals guy but understand the use of having cryptos. Its just ridiculous though, how gold and silver still have a giant boot on their necks! We should have already SEEN the prices skyrocket to astronomical levels. At the end of the day, i enjoy holding my wealth in my hands, but id be an idiot to say crypto isnt here to stay. I just hope the banks will finally have to give their manipulation game up....SOON.
whst if i am doing arbitrage and want to buy and sell as most and as fast as i can?
I agree. The marketcap has grown too much too fast.
We are in unchartered waters my friends, it will be an interesting time and fortunes will be gained or lost based on positioning.
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Like the post...... Just checked on the $2300 price for gold, the all time high for Gold was always under $2000 as you mentioned, but Platinum all time high seems to be around $2300 in 2008 (checked it on bulliondesk.com). Just wanted to share this with you.....but I agree still the $2300 seems to be a all time high for precious metals (when u include platinum also) and can prompt people to put some money back from cryptos to precious metals once BTC reaches $2300/$2400.....lets see...
Well said