Investing in Crypto is too close to gambling!
I've heard it said so many times: "Investing in cryptocurrencies is akin to gambling with your money"
I feel that I must address this statement. But you know what? I'm not going to. To hell with that - haters are always going to hate! For once I'm not going to argue a point that stubborn people won't listen to anyway. Since we're being accused of it, we might as well be guilty of it!
Let's Gamble!
From https://www.maxpixel.net/Gambling-Game-Bank-Game-Casino-Profit-Roulette-1253622
Investing in Crypto is too close to gambling!
It's been too long since I've stuck my neck out with a solid price prediction, I'm about to rectify that. This time I'm challenging you to do better! Bragging rights are up for grabs!
If you can beat me - and that's a big "if"! - I will publish a post of those who are "Smarter than Bit Brain", including awarding the title of "Crypto Brain of 2018" to the person whose prediction is closest to reality. If you know what a self-absorbed egomaniac I am, then you'll realise that that is a prize which is rarer than hens' teeth.
No you don't get any SBD, don't even ask!
The game is "Predict the highest price that Bitcoin will reach on coinmarketcap.com in the second half of 2018".
Rules:
- The price period in question is from 00:01 UTC on 1 July 2018 until 23:59 UTC on 31 December 2019.
- You can give only one price.
- You can't change your answer. Edited posts will be disqualified. So get it right first time! (or delete it and post a new one before the cut-off time).
- Prices are to be in USD. The inclusion of cents is optional.
- The cut-off time for entries is one week after publishing. As soon as this post pays out - entry time is over.
- I determine who wins. (So much for my belief in decentralisation!)
- Bit Brain reserves the right to add additional rules if any clever people find some creative way of circumventing the existing rules. Except for this rule which accounts for that. Which makes this rule unnecessary. But it makes no sense if it is removed... Help! I've created a circular reasoning loop which threatens to destroy the universe!
What's the number to beat?
It will probably drop a little after that high, but I expect BTC to end the year at a price in the $20 000 - $25 000 range.
So there you have it - $25 050 is my guess. Come on, drop yours in the comments and let's see if you can beat the most narcissistic ultra-genius in crypto. 😜 What have you got to lose?
Must.. Control... Urge... To... Type... MORE!
There are a few more crypto topics that I'm just itching to discuss, but in a concerted (and largely unsuccessful) attempt to keep my posts of easily readable length, I'm going to begrudgingly carry those over until tomorrow or later.
Yours in crypto,
Bit Brain
Published on
by Bit Brain
@bitbrain Yes, I remember when I did my first trading. Wasn't sure which alt coin to choose or hodl. I'd tried xrp and made 8% profit on first trade. Then on 2nd and 3rd trade loose profit as well as some base investment. So, it's definitely gambling. Either you win or loss!
The first time I ever did a trade it was a buy of Massmart shares. I used the time honoured absolute noob method of: "Hey! I recognise that name, I'm pretty sure they do well, I think I'll buy it!" 😂 Those shares performed terribly and only ever lost me money. That was many years ago, looking back now I cringe to think I was ever that green, but I guess we all had to start somewhere!
I would definitely not call crypto gambling, provided you know what you're doing. There is certainly a lot of risk in the market, but I believe that with a firm grasp of the fundamentals, you can get great profits from it, extreme profits even, provided that you are patient enough and have strong hands.
I have lost a lot and I have made overly risky crypto investments, but when I did so I did it knowingly and willingly.
Mostly every year Bitcoin crosses its last all-time high price and last all-time high price was around $19,700. Keeping that in mind, I think this time Bitcoin will reach near $27,000.
$27000 for princejain123 it is. That's a really good call and I think you're in with a strong chance.
From the other side, not to invest in crypto is just to loose your money without any chance, IMHO.
Well said!
I don't care the price because I will not sell until adoption has fully hit the mainstream!
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Ah, BUT, you could trade it for altcoins...
I am going for a conservative 10k.
Your $10000 may just be the most realistic out of everyone so far @tradealert! I hope not though...
I guess $25 049!
Honestly, I wouldn't dare wage a real bet on this. The way it's going now I am not so sure we'll be back at old highs by the end of this year. I do think by then we will have bottomed out. My more realistic prediction is $10-20K and I am leaning toward the lower side of it. I'm still traumatized by the crash of 2014 and remember well how long it took before we climbed out of the pit of despair. I wouldn't be surprised if it took all the way until mid 2019 before we see real action, but we will likely have been climbing up before that too.
I'm a pessimist though. It helps with crypto investing, because instead of disappointment, I feel happy when I'm wrong
My prediction would be $20k eoy.
@cryptomeet - yeah that ties in with what I wrote - so at least two of us think that way!
@pandorasbox $25049 - I see what you did there, wicked! But that's cool, if anything I would expect it to be a bit higher than my $25050. I'm expecting $25000 to be a strong resistance level, and I'm adding in $50 for those outlying prices that always seem to find a way through somehow. I was very tempted to say $28000, but that's probably wishful thinking.
Hmm.. My guess $15,000
$15000 for @sames. A nice middle-of-the-road figure. Good luck!
Do you see any other tokens outperforming BTC?
Yes @anotherjoe, I most certainly do. I would expect most of the "decent" tokens to outperform BTC. I also expect the good (and somewhat lucky) low market cap tokens to do exceptionally well. Then of course there is always the "coin of the moment" that gets over-hyped and does way better than what it should. Most recently that was EOS, before that it was Tron and before that Cardano. In the greater scheme of things I expect the BTC dominance to continue to drop, despite many rubbish little tokens dying off.
I just remembered that this post deals with that topic: https://steemit.com/cryptocurrency/@bitbrain/supercharge-your-bitcoin