Here comes the last big drop in crypto........
So we watched this last little spike very closely and from what i see the market does not look good at all at least for the short term. the next 60 days i fully expect a massive drop, Bitcoin will almost half in value. My guess its somewhere between 4,500-5000 USD per coin, And almost everything but tether will do far worse. Mining is stale, Blockchain networks are not panning out as well as they thought. Even steemit has seen a massive drop in activity, signups are slowing down and the platform does not seem to be morphing in any form let alone for the better. This last dip i saw in the past few days, is on very heavy volume, lots of dumping and i don't see this letting up until the price gets near $5000, people will sell or hold, but buying will come way down. Something could happen, major deals, acceptance on a massive scale, newer coins with real not fiat backup, like gold will be the new crypto king in the absence of regulation and ETF insurability. As well as being welcome by the SEC.
Steem will go below .75 USD, LTC to 40-50.
I think so too with one difference, bitcoin will fall to about three thousand dollars
How did you predict this almost 4 month ago, what now has happened ? Just looking at charts or what or did you have a big oracle ?? lol... Anyway, well done..
thank you, i been watching markets when i was 12y.o. Last year at this time i saw, crypto just starting to get some real use, with some big news from tesla i think it was, excepting bit coin. Thats factor 1, Factor 2 was the main stream media and social media both were all over it as soon as it was trending. And 3rd was the fact a liquidity market (wall street) made it easy to get or get out of for those who built up a ton, creating huge spikes in volume, and that means price as well. I call these 3 items the trifecta, and they all hit at the same time. Then I think what really is the use. Almost no place excepts them, huge swings in price means it hard to tell what you can even buy and when. You might have enought to buy a starbucks coffee one day and the next no be able to get a coke, with that same amount. Commercials telling you demand is there, but they never said they demand was not already being met. Think about, have you ever heard somebody say " i cant spend these worthless dollars anywhere" nor is there a product you cant get with it. I call that false demand, and the commercials were to sell it. Then you must think of all the other downsides, over supply of random coins, unlimited number of coins per crypto, and other little things like who gets the money in the end. People dont seem to understand, money changed banks. But the Location, labor, equipment, and almost all costs are bared by, non bankers (aka, home computers and small private sector data centers. Now all this happened for a fraction of the cost to the banks, who end up with more money in the long run as the money starts in banks, and ends in banks. That is why wall street and the government allowed it.
What happens if you try to print money. Or put forth any alternative to the dollar. Why was it allowed?
Anyway thank you for comment and reading my post. Thats how i call it anyway.