Bitcoin on the grind but don't despair
We all thought bitcoin had made its comeback and was ready to shoot past the $10,000 mark and make its march back to 15,000 to 20,000. Bitcoin has struggled to reach and stay above the $10,000 mark. People such as myself who are mining sha-256 abitcoin algorithm and holding bitcoin since Dec 2017 -Jan 2018 when bitcoin was at its peak, this has been a slow grind. The rumor is that allot of bitcoin miners are getting out of the business, this was told to me by a fellow steemit member @inspire1 who has yet to write his first article :). I can totally understand the discouragement that people feel but don't despair.
in this article Evelyn Cheng reports that research firm fundstrat predicts a $36,000 bitcoin by 2019 year end with a range of $20,000 - $64,000.
In my opinion this is not blowing smoke because if you look at the historicals of bitcoin and where it was in January 2018, and where it was one year earlier it would be very easy to see the potential of how high the price of bitcoin could rise.
This is where bitcoin is today
This is where bitcoin was on January 2018
This is where bitcoin was in January 2017
Bitcoin going from $900 to $16,000 was a 1600 % increase. lets say bitcoin goes back to $6,000 and increases by 800% half of what it did last year. Bitcoin would go to $48,000. I think that this is a very strong possibility. I encourage everyone to hold there bitcoin and don't get caught up into the fud, fear uncertainty and doubt.
Don't listen to the Warren buffets of the world, who says that bitcoin is rat poison. Warren Buffet says that bitcoin will never produce anything of value. Contrary to that statement I believe the opposite. Believe me bitcoin is not going anywhere
http://money.cnn.com/2018/05/07/investing/warren-buffett-bitcoin/index.html
Warren buffet is th largest owner of two of the worlds largest banks, so why would he be a fan of crypto curency. Ladies and gentlemen, you always have to consider the source.
We will all be looking back on today and wish that we had bought more bitcoin and altcoins when the price of bitcoin was so low.
Thanks for reading and keep a look out for my next post comparing the stock market and the crypto market and finding the most profitable investments.
If you like this type of content please upvote, comment, and if you please resteeem.
I think bitcoin will rise much slower than people think mid term. It might be a while before we see another parabolic rise like the end of 2017.
I agree patience will pay off.
Yes, i think the next parabolic move will bring us up to 100k over the next couple years. It will start off slow than parabolic mania lol
Thats why Im holding some bitcoin, im also holding eos, bts, and a small amount of neo. I have some other coins for pos.
Well, actually it's pretty clear that Warren Buffet is trying to protect his assets. As you correctly wrote, him being the owner of two of the largest banks in the world, why would he endorse Bitcoin. Of course, Bitcoin is the biggest threat to banks, it's a new disruption if you will. So for him to try and protect what took all of his life to create is pretty understandable. But unfortunately we can see through him, and his Vice Chairman. They are trying to create FUD, but the crypto community is wiser now. HODL on!!!
We cant afford to get side tracked by distractions.
I believe the UpBit fund cause this drop, but price seems to have found minor support on smaller timeframes hopefully we hold. A close above $8,500 and I'm taking a small entry. A close above $8,700 and iIll be adding to my bag :)
Keep up the good work!
Thanks buddy, thanks for the info on upbit fund. Yes its time to add some bitcoin, thank you for the entry points.
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beautiful scenery, I really like the scenery.
Thank a lot for you 😀
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