Weekend rant: Total market cap is $826 and rising. Will we reach the $1 trillion mark this week?
A really good weekend. I acquired a few new coins on friday, amongst others Databits which I wrote about in my last post. I will write about the other ones hopefully this evening or tomorrow morning. Great coins! Also, in the coming days, myself and my investing colleagues will be focusing on very low cap coins with HUGE potential.
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I almost hit the jackpot with Payfair (PFR) these past days. I bought it at mcap 800k and now it's around 20mill. And I expect it to rise even further. We're looking at those legitimate 50-100x'ers. I know there is a lot of scams going around and empty promises. We're trying to find the really good, new and undervalued coins. So stay tuned!
Other news
Bitcoin started to show some life again after going into hibernation (not really, as it has risen from a low of almost $11500 a week ago, and is now up to $17000) In Bitcoin world that qualifies as hibernation.
Ethereum broke $1000, and after trading for 24 hours up and down, it has finally blasted through and is currently at $1120 which is a pretty solid starting point for further increase to our mid term goal at $2000.
Bitcoin Cash gained some market share over Bitcoin tonight, going up almost 15% to $3000.
EOS gaining strong - perhaps as Cardano has fallen a little bit. I personally think ADA(Cardano) is grossly overrated. Dan crushed Cardano in this post here
Monero and Lisk is doing good.
Steem pulled back from the high of $8,26 (which was too much too fast, going from less than $3 in a few days. But it turned at $5,36 and is currently trading at $6,30 so this is exciting.
SBD however has lost it's high ratio with Steem and is at $7,86. Could we see another pump in SBD? I don't know.
Then there is two other coins I want to mention (I'd like to mention many more really) and that is Substrateum and Ethos. These two has just been going mental for me for weeks. And I urge you to look into them, as I think they are still very underrated.
Hang on for a exciting week ahead! Will the market reach $1 trillion? I think it will be going for it, either this week or next week. It could be some turbulence I suppose.But again, don't be surprised if it doesn't.
Fundamentally and bubble-wise, we're far away from anything near the tech-bubble of 2000. The scary range is between $7 trillion (very conservative) and $15 trillion total mcap for the crypto market. In this range I will take some small profits. The markets could be much greater than that also..It could be $30 trillion or even $100 trillion before the pullback comes. Booming up and coming markets always end up in bubbles. Be clear of that. It WILL happen. What people get wrong is when it happens - because they A) haven't bothered to look at the numbers, or B) are spreading FUD. Or in some cases, with people in the space - they don't think it CAN happen.
But for now, we're still waiting for institutions, big money and mainstream to enter the market. Institutions and big money has just begun looking at Bitcoin and Ethereum.
The argument often is, that unlike when the tech-boom happened in the late 90s, this time it's private investors that are ahead of the game. Back then it was institutions first and then private persons came in, and the market crashed.
But make no mistake..even if there are a few private investors early in the game this time, nothing has changed. Back in the tech bubble age there were also private investors early in the game - getting options and heads up for stocks. This time it's ICO's and Etherdelta and basically it's up for grabs for everyone that is savvy enough.
So a few people, probably like yourself, who are savvy enough can profit immensely on this. Then the institutions come in, and THEN the normal private investors come in - and then mom'n pops.
I know there's a few crypto-strippers and waitresses and burger people, but that's just the way it is. Just because someone is a stripper or a waitress doesn't mean they are not intelligent. Most people aren't though, but the media loves to portray it like all the taxi drivers now hold cryptos. THEY DON'T.
Have a great Sunday!
certainly. multi trillion by 2020 imho
One coin I think you're forgetting about is Litecoin. Still one of the most undervalue and underrated coins out there. But great market analysis and overview!
There's a LOT of coins I'm forgetting :) I own over 55 different cryptos, and I like them all. I'm trying to write about all of them, but its easy to forget some of them. LTC is of course a great coin which I hodl a lot of.
55 cryptos?! How do you find the time to research them all? Lol. I’m sure you HODL the majority of them, so I guess that makes sense
Its been pretty much all ive been doing the past year.. i havent missed on a coin yet! ☝️ And yes. I hodl. I sell bits when they go 10x. And then at 50x. With bits i mean 10-15% the profit is used to buy othrr cryptos. I dont convrtt to fiat.
And the poor Tesla is still living in the snow :( Hearthless, cruel Vikings...
Yeah, No way I'm cashing out to buy a proper decent home for myself and my family (and the tesla) when I can make trillllllions on cryptos! (In two years I have to sell the Tesla and buy a skoda again..and live in a tent) :)
Wow man. I really prefer to stick to 4-5 coins max. Don't want to stretch myself too thin in a market that moves so fast.
Yeah..I get that. It's a lot to try and stay focused on, but right now that's pretty much all I'm doing 24/7. I have my tactics and plan that I stick too, and I will try to adapt when things change. I think you're missing out on so much fun with so few coins in this new market. And potentially a lot of profit.
We dont know which coins will survive..and if you only have 4-5..yeah..if they are good coins some of them could survive, but theres also a risk they will be wiped out. Diversifing within a industry is clever imo. I mean..thats why I only own robotics and automation and tech ETF's in the stock market. In cryptos, I am sort of running my own personl ETF fund.
You're right about that. I have a few bets of some up and comers, but I try to stick to established coins for the most part. If it weren't so regulated, you could have people buy into your "ETF" for lack of a better term. Too bad the feds only want the largest most centralized and corrupt companies doing this.
I think there are no obstacles to be reached @scandinavianlife
Your post is very nice
Why did you get PYFR when you did?
how do you think about the price of sbd and steem in early 2018 this?
any 1000x leads ..long term
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