RE: Longer Term Look At Bitcoin | BTCUSD
Such a pessimistic view but I suppose it's just as valid as the optimistic views.
The truth is, as I understand it, NOBODY knows and we have people from both sides claiming they have some predictive insight to prove their view when in reality it's all just guesswork.
The crypto market is still a tiny little fetus that is slowly taking shape while we're all waiting for it to be born and achieve its true potential.
There isn't enough data to accuratly predict the Crypto market yet. This is why it's such a volatile marketplace.
However, my guess is the market is going to continue to grow and grow for the next 5 years at least. Whether Bitcoin holds onto its dominant market share is hard to tell. My best guess is, this will fluctuate with media attention and investments going into smart contract blockchains. I think Bitcoin will always stay above 20% market share.
But like I said earlier, this is all guesswork. Investing in Crypto is ALWAYS a risk which is why you can earn some serious returns in a short amount of time. Anyone investing in crypto should be aware that Quantum computing could make a giant leap forward next week and solve the cryptographic problems that keep blockchains secure. (This is why I only have confidence in Crypto for the next 5 years)
First of all, thanks for the reply.
It's basically a post and not really a reply to my post, but still. I appreciate the attention
I don't see why it's pessimistic. I can short cryptos when they go down and make money.
It's pessimistic if you're a hodl'er.
I agree, nobody knows, but some educated guesses make more sense than others.
Some theories/strategies that have been proven over and over again make the educated guess even more educated.
How do you know there isn't enough data yet to predict the cryptos? How much data is enough? Not having much data is not a reason for volatility. It's very volatile because it's a relative small market where FOMO and FUD go hard.
I agree. When the correction is over I see new all time highs voor BTC and most altcoins.