Fortune magazine's article on why you should be buying BTC + ETH
So Fortune's writer Jen W. wrote a piece on why we should be buying Ethereum and Bitcoin. She started off by saying - hey look billionaire Michael Novogratz is doing it you should too!
The article then goes on to describe the incredible gains BTC and ETH have had this year and discusses the recent drop calling the current price a good time to buy as it is likely a dip.
It seems like everything in this article is based off of Michael Novogratz opinion rather than any kind of solid market TA. To top it off the final paragraph basically says that all crypto's are a huge bubble and will pop.
"Eventually, however, Novogratz believes there will come a time when investors are better off getting out of cryptocurrency entirely — though it’s likely still a long way off. "I sense that this blockchain, Bitcoin, Ethereum, ICO revolution is going to be the single greatest bubble of our lifetime," he predicted. Of course, when that bubble pops, it’s probably a perfect time to buy back in."
What's your opinion - is crypto just a big bubble that's going to pop? Personally I believe that as a whole we are definitely in a crypto 'bubble' due to sheer quantity of ICOs and coin options out there. However, I also believe there will be a small batch of solid blockchains that come out on top and revolutionize the finance and hopefully technology industries.
Source: http://fortune.com/2017/06/29/bitcoin-ethereum-price-buy-michael-novogratz/
It is time to look at the question whether any given coin or application solves a real problem and if so, how it fares against the competition. Any shortcomings in this respect, will lead to marginalisation of price later on.
But for now, the huge inflow of wealth lifts all boats. No sweat for anyone to make gains is this market.
I believe that identifying the valuable coins that solve the real problems is definitely key; however the not-always-rational market has shown me that this isn't the only variable I should consider when attempting to predict who will come out on top.
Yup. First mover and other variables also play a role. It remains a gamble somewhat.