About Those Prices? I. Was. Wrong.
One thing about cryptocurrency is that everyone seems to brag about their big wins, but few will tell you about that time they screwed up.
Well, gang, I made three bold predictions over the weekend, and none of the three came true.
I'm here to come clean: I. Was. Wrong.
What I Said
It was pretty simple, actually...I thought Bitcoin would hit $5000, Ethereum would be back at $400, and Litecoin would reach $100. I said all three would happen by the end of the holiday weekend, which would mean by Monday night here in the states.
What Happened?
Bitcoin came close, reaching $4950 before dropping. It's now at $4300 or so.
Ethereum? Made it to $371, then pulled back, now in the low $300s.
Litecoin? High of $93.66, but a low of $60 over the weekend.
The Reasoning?
I, Dave from Metacoin, still believe in all three and am still HODLing all three. I think what got in the way here was the Chinese "ban" of ICOs. Panic meant a setback for all three coins.
Your Reminder: Do Your Own Research
If you're relying on me for trading advice, don't - I don't offer it and you need to do your own research.
I still think we'll see all of the above prices before too long...maybe the next week or so?...but we'll all have to wait and see.
Awwh, don't feel bad! If you just pick another exchange to base your numbers off of, you will see that Bitcoin did go beyond $5000 and Ethereum did breach $400. Not sure about LTC since i don't follow it, but surely that too!
It just didn't on every exchange. Usually the Chinese and Korean exchanges trade at a slightly higher price. So you can feel better now! 😀
Thanks. I do feel better. Plus the recovery is underway...
Hey buddy great post. One interesting thing about crypto prices, I believe it was when we hit 4K it initially went up to like $3975 adn then came back down before topping 4K which surprised me as I thought the enthusiasm for a new milestone would launch us past.
It's interesting that this time around we got close to 5k and then crashed. I was away on a camping trip and didn't really have internet access so wasn't watching as closely as I normally would be but did sort of notice that.
Funny enough, I was on a six-mile run during the hour that it appeared Coindesk broke the story of Chinese ICO bans...at least, I didn't see a precipitous drop in prices for the coins until the exact hour I was running.
Well, hour and seven minutes or whatever it took me to run six miles.