RE: Bitcoin Sell Signal -- Jim Kramer Says Buy ---Time to Sell Move into other coins! Fake News Herding the Sheep into $2800 bitcoin after major price spike
As a long term investment I see no problem with BTC. I am suggesting that it could be at a short term top with Kramer's boys selling now. There is no doubt that BTC will remain a viable crypto as long as the market exists. However, bitcoin rose the most when it was the main coin and everything else was an "altcoin". The technology has changed significantly and eventually bitcoins value will only be derived from it's very limited supply. It will likely continue increasing steadily in the years ahead but I think there are better choices today and even more in the future. As for reserve currency, Ethereum in just a short time period is beginning to challenge that notion. Eventually, there will be decentralized exchanges and mulitcurrency credit cards so the concept of reserve currency will become obsolete as any currency can be held and instantaneously exchanged for fiat or another crypto.
Right, I also dont think bitcoin will be a currency in the future, I believe it will be money and we will use something else as a currency due to the price about transfers and miners, just like how wire transfers are more expensive that a payment through paypal or your credit card, just an entirely new system of how those communities communicate globally together. Bitcoin shouldn't be used a currency as we move forward, just as a money and a store of value.
I think bitcoin will be a digital asset like a rare painting or gold bar. As the velocity of money regarding bitcoin slows due to transferability of competing currencies I think it will lose the premium it now enjoys and trade based on supply and demand fundamentals only meaning that it will plateau and hold value relative to inflation only. The only thing keeping bitcoin alive now is that it is universally excepted and other coins are priced in bitcoin. That could quickly change within a few years.
I jusst think it will leave the realm of accessible to the normal person soon. Just like wire transfers today. It could take a day and cost 10$ and its still much cheaper and faster than a wire transfer. So it is doing what it needs to. I think we will see an implementation of a trade capability between say litecoin and bitcoin that adds a single layer for cheaper transactions to a coin that is more currency available. Thatss my speculation.