Still seeking answers why the crypto markets crashed in 2018? Tom Lee says there are two main reasons why...
Are you still seeking answers as to why exactly the crypto markets had such a poor year in 2018?
If so, Tom Lee may be able to help you out!
Tom Lee says that there are really 2 very simple reasons why...
Check out the video to see why:
(Hint: His answer starts around the 2:51 mark)
Bigger hint...
Parabolic moves and reversion to the mean.
Enjoy the video!
This guy has been a little off on his crypto predictions thus far, but he has been one of the best macro guys in stocks for years now.
I except it is only a matter of time and very shortly he will start to nail his crypto calls.
Stay informed my friends.
-Doc
This video was great, thanks for sharing.
The demographics argument about millennials being the financial decision-makers in the next 10 to 20 years and them disliking banks is very convincing. Crypto is the next FANG!
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Yep, I agree.
1000$ in FANG to be a millionaire 20y later. Now have a look at what we already have invested in crypto^^.
Yes, it was a great video. Yes, Millenials don't trust banks and governments and will be buying most of the financial products in the next 20y. So if you can guess what they will buy because of their generational preferences, the profits will be like investing in FANG 20y ago. Interesting times ahead for HODLers.
Yep, I agree. Just need bitcoin not to leave a bad taste in their mouth!
Yes, it seems surreal to be that early adopter. We just have to invest in hardware crypto wallets now if not already done.
Yep, custody is a major issue.
Is there a company that produces hardware wallets and can be bought as shares? If so I will take a look at those companies. Interesting idea, I don't know why this did not come to my mind yet, thanks.
I was thinking mostly, protecting our coins with a hardware wallet instead of keeping on an exchange. But yes, someone has to build these 4B hardware wallets for sure.
But I think we will quickly get sim cards with embedded crypto wallet. That would be neat and cheap.
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"But I think we will quickly get sim cards with embedded crypto wallet. That would be neat and cheap."
I am no fan of that. I would not carry a gold bar in public or when walking through the city, so I also would not like to carry my wallet on my sim card when the crypto on it is worth a lot of money.
I might lose the phone, or somebody steals it, or the sim card gets destroyed or somehow unreadable...
When you are your own bank, you need to be able to store it as safely as your bank would.
Thats one reason why I like steem. It is locked up and even I can't get to it fast, if I wanted to.
Yep, I don't think people want to be their own bank when it really comes down to it. They like they idea, but they don't want to have to worry about the same level of security that banks do... again custody is still a major issue.
Yes it is. The first person to develop a safe storage(and/or custody solution), which is useless to anybody else but the owner of the crypto, is going to be a very rich man.
They have to make being your own bank easy and comfortable, or it will be very hard to establish a future world free of banks and middlemen.
Its called samsung. They built it right in their phones.
Though if I am not mistaken, it's not bitcoin compatible yet?
There are two reasons: Facebook & Google! Banning Crypto ads dramatically reduced demand thus prices fell. Simple economics!
If you want to recover your losses from the Crypto crash then join @jpbliberty’s Class Action against the reasons for it. Www.jpbliberty.com
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Who are they going to recover losses from? By the way Facebook didn't ban bitcoin ads till over a month after bitcoin had already peaked and google didn't ban until close to 4 months after bitcoin had peaked... They definitely did not cause the crash, at best they were only small contributing factors.
Losses will be recovered from Facebook and Google. That’s the point of the class action lawsuit.
The market fell 53% in the week after Facebook announced their ad ban on 30 Jan and 30% in the week after Google announced on 14 March.
While it was below its peak, without the ban the market would have stabilized at a much higher level or even recovered.
While there are always many factors in markets, the sudden removal of 66% of the advertising market from use by Crypto projects has a very obvious and huge impact on demand and thus price. The whole purpose of advertising is to stimulate demand.
All other reasons for the crash are far less solidly based in economics and mostly are baseless conjecture.
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How can you possibly say Facebook and Google CAUSED this? You just made my point in your statement above...
"while there are many factors in markets..."
It can't be proven what caused the drop!
Which is going to be a major issue in any court.
Not to mention markets go up and markets go down. Should short sellers sue Facebook and Google for allowing crypto ads in the first place that (by your logic) allowed prices to run up like they did?
By your logic, they should!
Plus Facebook and Google are not required to show ads of anything they don't want to... They are a private company! There is basically a zero percent chance this lawsuit holds any water in the slightest.
He thinks it's just a reversion.
Hmmm.. dont know but imho, it was late 2017 that it went to the main stream, got accepted by the many and so it was expected to descend.
On the other hand he has a point, it went all the way up of course it has no other way to go but down, next but that's just the market it would hit bottom and once again rise.
am glad you're doin well !
haven't seen you a long time!
I just finished to watch the video... yeah, that was super interesting ;-)
Big Hug from Switzerland
Steemitri The Mannequin
Yep, it is a very good watch for any crypto/bitcoin investors.
When he talks, I look the other way 😂
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That would be a mistake. Just because he missed on his price call for end of 2018 doesn't mean he is not one to pay attention to...
I just can’t listen to a mainstream dude. 🤷🏼♂️😂
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You'd rather listen to someone with no experience in financial markets? Whether we like it or not, bitcoin and crypto is a financial market and will start to trade more and more like other financial markets as time goes on.
My first post on steemit platform
https://partiko.app/@polad/today-i-am-on-steemit-ikleftzl
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Cool.
This will be what brings it back as well as the mean should be higher given the amount of capital still flowing into the underlying infrastructure.
Posted using Partiko iOS
Yep. At some point the sellers will be done selling. Just not sure when. Sooner rather than later would be nice.
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