Cryptos are just getting started
Bitcoin is testing the $50,000 USD level (that statement alone is a bit surreal) and many of the other cryptos are now moving up after a long bear market. With everybody from Elon Musk to PayPal to the credit card companies and big banks getting involved, it seems all bets are off for where this could go. As somebody who has followed and accurately forecasted Bitcoin's price moves since 2013, my meta-analysis of the crypto market is one to consider. I'm also going to talk a bit more specifically about HIVE and Cardano (ADA).
But first, a glimpse at the overheated US stock market:
That's essentially the whole market in one chart, going back to 2004. You remember the housing bubble years, right? And the crash back down toward reality (which Main Street is still recovering from)? And the massive easing (currency debasement/creation) done to inflate the market during Obama's reign? And the ridiculous nonstop rally during Trump's years? And the collapse of the world economy and complete lockdown since last March?
... And the DOUBLING of the market since then?
Exactly what justifies a market twice the size it was when the lockdowns began? What justifies a market TRIPLE the size it was during the housing market bubble of 2007? How have things improved at all since then, other than more currency being created from thin air?
Most of those funds don't reach the common people, but large investors and corporations are getting involved now, so I think cryptos are also starting to see inflationary forces.
Gold and silver would be skyrocketing right now if they weren't 100% controlled by JPM and friends, but the cryptos reveal what the precious metals would be doing in a free market.
Including Bitcoin's 60% dominance (market share), the overall crypto market is just now breaking out to new highs.
Notice the striking similarity in the bull/bear market cycles.
And notice there could be a good year or two of gains coming. The market feels hot, and yes there WILL be pullbacks along the way, but it would really surprise me if this was a long-term top for the crypto market.
With Bitcoin at 48k right now, if the 50k psychological barrier is broken, a surge to 80k or higher within a few months is entirely reasonable. And that's indeed what I forecast in my video at 20k, so temporary corrections aside, I think it's going higher.
And with the rest of the crypto market just starting to warm up, and "alts" always prone to overcorrect (like silver during a precious metals bull run), value tokens like HIVE are looking promising.
A long, long way to go from the 8.1 USD high (when I first got involved in this community).... but well off the 10 cent low, and much upside potential to be explored.
That's Cardano's chart going back to it's beginning in late 2017, on a log USD scale.
Current price is 93 cents, ATH was 1.18 USD.
Big, promising news in the fundamentals for this coin. Not surprised to see it vying for third place in the crypto world!
(I personally grabbed about ten bucks worth when it was in the pennies. The wallet "Daedalus" was slow and demanded a lot of system resources, then got upgraded and stopped supporting Windows 7 users, so I can no longer access my wallet.)
A break of 1.2 could easily see ADA head toward ten dollars apiece.
The mainstream media has HAD to cover this story. And now, they're actively getting on board with the pumping. I saw that in silver in 2011, and we know where that went (to $50 and back rapidly, followed by a long sad bear market). I don't trust CNN as far as I can throw them.
I expect pullbacks, and anyone else involved should as well. Part of that comes from media pumping and dumping, part of it is just human psychology playing out on the chart.
Don't get involved out of greed or FOMO (fear of missing out). Get involved if you've done plenty of independent research, have been watching for a while, and have funds you don't need for anything else. If your emotions are getting intense, step back. Currency is just a tool. This shouldn't be about getting rich, it should be about adopting and helping improve a brand new currency and technology, ensuring it ends up serving the people, not the same corrupt warmongering bankster elites that got us to this point.
But yes, I think we're going a lot higher pretty soon.