While Bitcoin Rises Is It The Best Investment ?
Now that China is pretty well out of the picture and we still are holding steady around the $3,900 price point we can all see that China really no longer had a hold on bitcoin as they once did. Most likely the reason they banned it because they could no longer control it. With that being said more money and people are flooding into bitcoin. However is it the best investment?
When I look back at my days of investing into Gold and Silver, everyone seems to want gold right? It has a high price point worth more per once which leads a large portion of people wanting gold instead of silver. However what happens when you start looking at the percent increases as to what is better. Silver has always produced higher returned % wise then gold and this is where I see the advantages of bitcoin, litecoin, Ethereum and Dash.
For me my price points on the 3 are as follows and this is just based on background research and theory of my own. It's where I believe the market will be by years end but as always remember this is my own opinion and not professional advice. Please be responsible with your money.
Bitcoin - $5,000 we should hit 5k again it will take some time but a steady 5k per bitcoin is very well possible by years end. We hit it once and then shit hit the fan.
Ethereum - $700 is my price point by years end with all test nets going well ethereum is changing and addressing many issues. While it is taking time to address them and push scaling on the block chain it at least can while bitcoin continues to be heavily divided on this front.
Litecoin - Many have always considered litecoin as the silver to bitcoin as gold and thus I always put the price point on it at around $150 by years end as a reasonable goal for the cryptocurrency to achieve.
Dash - I really like Dash and feel like it has massive growth potential. Not only does it currently address all the flaws of the scaling issues of all the crypto currencies above but it also has less coins then them thus increasing the price. If Dash starts getting more publicity and being used more mainstreem like bitcoin (which I believe is Dash's new marketing efforts next year) this thing is going to be massive. It is really hard for me to put a price point on it but honestly in all cases I see it going up and up!
The prince increase is actually not that high, considering that a few weeks ago Bitcoin almost hit 5k USD.
I'd say it's a "decent" time to get into it :)
I would not count China out. They did not banned miners. This could just be a way to put everything on hold until the Chinese government's next NPC elections which happen late this year and early next year. My opinion is this world power is just taking a time out to position themselves better in this amazing technology. Also South Korea announcement of UPbit app could add potentially 200 million buyers to the market. Imagine if only 1/2 put $5 in! This is a great opportunity to buy and it could only be a small window of 3 to 4 weeks. I like your predictions and the price might go a lot higher
They are looking into banning miners though from what I recall ?
China did not ban Bitcoin, they only shut down the exchanges. Half of all Bitcoin miners are still in China, and millions of Bitcoin users are still there. It would be interesting to see what would happen to the network if half of the miners suddenly stopped.
More profits for my mining :D
I tend to think investing in Bitcoin is an individual choice. It's price might be up there and many investors are opting for Altcoins and move mainstream to Dash, Litecoin and Bitcoin. I love your thoughts; they are valid when it comes to the future if Bitcoin without the Chinese audience.
Yeah it really comes down to returns in the end. This year alone bitcoin went up 500% but when you look at other solid coins such as Ethereum up 2,127% and litecoin up 1,270% it shocks me a bit why most talk is still centered around bitcoin with all of their scaling issues, forks and fights. But that goes to show you how much of a hold the name bitcoin has on the market.
Seems like Bitcoin is the benchmark and has over the years overshadowed upcoming alternatives. That's my take here.
Great post! I'm interested in your thoughts on Monero. It's been one of my go-tos lately, and has been getting a lot of press for various reasons.
Monero has been doing well too I don't know all that much on it besides owning some lol Its been around for 3 years though and it really has not moved much besides the time when other cryptos took a big jump so I don't see that as real positive growth for the coin. To me it seems to still be the less secure of the coins on the market.
i really hope your right on litecoin, do you think is going to go down in the next few days?
due to the bitcoin hardfork?
what about bitcoins price will it increase or decrease?
Bitcoin is back in shady territory for me again with another possible hard fork here in November. It seems like bitcoin just can not get it's shit together. Litecoin I feel will continue to move up and should be easy to adopt into bitcoin atms etc.
yeah i was thinking the same thing, it seems like they can just split and double the coin any time they are disagreeing the problem is that it seems that when ever bitcoin is down litecoin follows the fall,
Ive seen predictions of 10k btc if it can break the 5k point, but they are advising 9k sell points as they think it will retrsct to 5k after hitting that high.
It is interesting because some countries have their own trade networks which are pushing the price upwards of $7,200 on theirs.
We can make more profit margins by investing in altcoins rather than just investing all the money in bitcoin, we should diversify our portfolio!
yes but smartly in only proven quality coins not these junk ICOs
any ideas for quality coins?
What about STEEM price? :>
Steem does not have enough going for it yet for me to back it in terms of saying what the price might be. There is no way to convert fiat to steem directly it is always done via other coins and mainly bitcoin.
Nice topic