2018 Cryptocurrency: The Greatest Creation Of Wealth Ever Seen?

I stated for the last few months that we will see a market cap of $1.5T in cryptocurrencies by the end of 2018. It seems I might be a little light in this area. Yesterday, Mike Novogatz appeared on CNBC's Fast Money and says he believes there is a 6x in this market from the present $300B crypto market cap. That puts the market cap close to $2T by the end of next year.

For those who do not know who Mike Novogatz is, he is a Wall Street uber-rich hedge fund dude. He is in the process of raising $500M in capital for a crypto hedge fund. This fund was started with a $250M check from Mr Novogatz. I would say this makes him a rather interesting person to comment on the cryptocurrency market. He is the combination of Wall Street and blockchain enthusiast.

The video:

https://www.cnbc.com/video/2017/11/27/the-man-who-called-bitcoin-10k-now-sees-this-for-the-cryptocurrency.html

Many seem like to talk about bubbles and how things are over priced. While there is a chance, perhaps a good chance, of a short-term pullback, the simple fact is you do not see a bubble BEFORE Wall Street arrives with their trillions. It is only after they sucked every dime out of any investor they could find that we see bubbles pop. Therefore, do not buy into any of the scare tactics that people are using. The cryptocurrency market is just getting started.

2018 is going to see another huge explosion in the cryptocurrency world. My estimate is Wall Street will be good for over $3T in the next couple of years. This should push everything (legitimate) higher. I would suggest avoiding garbage and scam coin since they will end up at zero. However, anything that has a legitimate group of developers, and is a solid token, will see massive appreciation.

I fully believe the blockchain technology and the overlying cryptocurrencies are going to create a path to freedom for billions of people around the world. Not only are people going to enjoy freedom from FIAT currency, they also are going to have a voice for the first time without censorship. This is going to impact humanity in many ways.

On a more personal level. knowing Wall Street the way I do, it is going to become a feeding frenzy. Once they open the spigots up, it is going to be a multi-year party. There will be a seemingly endless supply of new money entering this segment. Everything will be sought although the more liquid and better known stuff like BTC will get much of the funding. That said, there will be a great deal of money, relatively speaking, put into alt-coins. These will see significant jumps also. Anything that gets on the radar of these money mangers spreads like wildfire.

The 6x increase that Novogatz talks about is for the overall market. We know there are a lot of tokens that are absolutely worthless, or should be. They will end up crashing and burning. Hence, we are looking at a total average across the board. Many quality coins will see a much bigger jump. Depending upon what you presently own, it is not far-fetched to believe you will see a 10-20 times jump in the value of many of your coins. What would your life look like if your crypto-accounts were 15 times higher a year from now?

Does this sound unrealistic?

On January 1, 2017:

BTC $963.06
ETH $8.26
Ripple $006
LTC $4.37
Mon $13.58
ETHC $1.45
Dash $11.26
MAID $.099
Auger $3.79
STEEM $.17

I will let you look up the present pricing of the Top 10 on Jan 1 of this year and let you figure out the percentages. The entire market went from $17B to $310B in 11 months, good for an 18 x gain. Some of these coins jumped a great deal more.

This is the opportunity before us. Wall Street is coming and there will be plenty of money spread around. We are in the most unique situation I ever saw. Many tokens are akin to penny stocks except we have hedge funds gearing up to buy them. This does not happen in the penny stock world. Never before has something been so inexpensive for the average person to get into yet facing the prospect of so much money coming after it.

So tell me, how would you be if you saw a 10 fold in your crypto holdings in 2018 followed by an 8 fold increase in 2019? Would New Year's Day 2020 find you a wealthy person?

I think, for many on here, the answer is yes. Just your STEEM holding alone could be worth hundreds of thousands of dollars.

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