Cryptocurrency Price Predictions for July 2017!
Where will the prices be for the top 50 cryptocurrencies be in a month, a year, and ten years? Here are my predications which are honestly just a complete guess because who can really know for sure? After seeing hundreds of searches for specific price predications, I am going to take a leap of faith and suggest what the prices will be in the future! If your predictions differ from mine, would you share yours in the comments or in your own detailed post because that will help me have better information? Think a specific cryptocurrency is way over or undervalued? Will you share that with us to help us sell high and buy low if we are trading?
How accurate were my predictions over the three weeks since I made them? Most critically I predicted the Steem price would be up and I bet about $30,000 on that when it was around a $1. Today the price is over $2 which is very exciting for all of us! For the rest of the predictions, with no money invested personally I made accurate predictions a little over half of the time with the Bitcoin price being up, Monero up, Litecoin way up, and most others staying the same or dropping. The biggest two places I was way wrong were in the Ethereum price which I called as way to high and certain to drop at ... $200. Today it is $350. Same error with the Dash price which topped out at a new record of almost $200 which I think is insane. I also completely missed the Bitshares blow up which might or might not have happened in connection with the Steem price rising. For my first try at predictions, not bad and clearly not perfect either!
Now, more in depth! First, for the Steem price I have my most optimistic prediction today as of June 21, 2017 I am predicting the price in another month to me up to to $3 and over $10 within a year with an eventual price of $100 to $1,000 in ten years! Why $1,000 Steem? Facebook's market capitalization is almost $500 BILLION. If Steem were to get to half of that, the price of Steem would be around $1,000.
Now, what are my price predictions for the rest of the top 50 cryptocurrencies?
Read this post or watch the original video from YouTube to find out!
Thank you very much to @gmichelbkk for converting the transcription of the YouTube video from GoTranscript into this beautiful post for Steemit, which is much faster to read than the video and has all of the highlights in screenshots!
First Bitcoin, I'm going to tackle one month, one year, and 10 year predictions that I originally made on June 3, 2017 live in the video along with adjustments made in this post almost 3 weeks later. I think that Bitcoin in the next month is likely to keep going up higher because I believe if it forks, you'll get whatever it forks into.
Right now, Bitcoin is still the top thing that is being traded back and forth. If you trade most anything, most of the time you're going to be trading Bitcoin back and forth. I think that in the short term Bitcoin is going to continue going up. I'm going to guess that Bitcoin will go over $3,000 at some point, and it may even go over $5,000 dollars in the next year.
However, over the 10-year period, I think that Bitcoin is going to be replaced by most of these other altcoins. The Bitcoin network is not up for handling global payments as it continues to scale, but many of these other ones are. I think the fork is going to knock Bitcoin out of number one and Ethereum is going to step into number one.
I think that the Ethereum price in the short term might be up a little high. If you look at this recent graph of it here, it seems like it might have got a little over inflated. So I think that in the next month, it might actually go down a little bit.
WOW was I wrong on this one in the short term! It actually went up to over $400 at one point and I still think it might go down maybe even to $100 or $50 in the extreme. Realistically, a more conservative guess, it might go down to like $150 or $200 now from $350. It already did that a few days ago and I think that likely in the short term, it's going to be down.
Over the next year, I think Ethereum will continue to be strong and it may step into the number one spot. In 10 years, I think that Ethereum has a good chance to be one of the very top currencies and it could easily be worth $1,000.
Now, one thing about the Ethereum price. When you look at it you see that Bitcoin is $2,500 and Ethereum is $200, but there's a lot more Ethereum. The market cap is more of the true picture.
So, if you translate the Ethereum price to Bitcoin, it would really be $1,250 in Bitcoin terms, which is why I think the Ethereum price is a little inflated right at the moment, but for the long term, really good value. I just tested, and Ethereum is one of the fastest to buy US dollars and get it on to an exchange as well.
Number three, Ripple.
I think that Ripple is over inflated at the moment. However, I think that in the short term Ripple is likely to go down further which so far is accurate with the price slightly lower than when I made this prediction. It's got traded way up, there's all this excitement because the banks are using it.
However, I think that it is going to drop in the next month. I expect Ripple to go down as much as maybe 50% in the next month or several months, because it has been just blown up with hype and speculation, and there's still not a lot of true value that actually gets transacted in Ripple as far as I can see.
There's a lot of excitement and a lot of speculation, but I think it's going to have a steady down trend over the next year.
Also, as the practical reality is, banks move slow. Banks don't tend to do anything quickly and banks are going to continue to need much more time to switch over to using anything like Ripple on a regular basis.
I think that in 10 years, Ripple has a very good shot to be number two or even number one. If the banks actually go through and change what they use now to start using Ripple instead, then I think the price of Ripple could be a much higher market cap than it is today, but it's uncertain as to how many they'll actually make available.
It seems that there's a whole lot of Ripple being held that aren't being released, so that could plummet the price. But I think that as a market, Ripple has a good shot to be number one or two.
New Economy Movement (XEM)
New Economy Movement is really exciting too because it's an entire economy that satisfies everything you need. I like the supernode you can have at New Economy Movement. I think though the same thing with many of these others, NEM has just got blown up recently. I think that it's a little overclocked as well.
In the short term, I think that the price on New Economy Movement's going to drop just like most of these others. So far the price is about the same as when I made the prediction and I think out of Ethereum and Ripple NEM has some of the most potential to also go up further given the problems with the Ethereum network in handling the transactions lately and Ripple holding so much more currency in reserve. If you've looked at the data, New Economy Movement has been way lower, and now, just like most of these others it's hit this massive bubble.
Sure, lots of the traders and speculators don't want to stop trading with it yet, but I don't think it's going to hit any more of these big ups in the next year or the next one month. I think that in the long term though, it has a very good shot of being a mass adoption as well.
I think that in the long term, New Economy Movement, given the rate that it's available today, could have a good shot at being one of the top markets as well. So, I'd say a dollar is possible for NEM in 10 years easily. Still, even buying it at today's price is likely a good long term investment.
Ethereum Classic (ETC)
I'm skeptical about Ethereum Classic. Now, the data looks good on Ethereum Classic because the Bitcoin price has actually been pretty high in the past. Ethereum Classic is a split off of Ethereum and has a fraction of the use of Ethereum. That said, I was clearly wrong for my initial prediction on June 3, 2017 because the ETC price is up 15% more today!
I'm skeptical as to whether this is going to hang around though, because it's just a problem of branding. You've got Ethereum and Ethereum Classic, and it's confusing. It's easy to let Ethereum Classic go in my opinion. I think that it's been just blown up lately, looking for opportunities to make money, but I believe that Ethereum Classic is going to fall off.
I don't think Ethereum Classic is going to be in the game for the long term. I think it's something that is going to die off.
I could be wrong and I've been wrong a bunch of times. I've not made more money than I have made money being wrong.
I think Ethereum Classic is going to fall off though. I'm predicting it's going down and down from here. I think this is Ethereum Classic's high and it's going to go all the way down.
If you make Ethereum Classic, I love you and I hope you prove me wrong.
Go for it.
I think Litecoin has a chance. It's been around for four years and I think there is a lot of true value in Litecoin.
Litecoin is the third one adopted by Coinbase and I tend to pick up on signals from major exchanges or companies like Coinbase, which have to put their resources to research and pick one coin. They've picked Litecoin.
Litecoin's got the deepest history out of these top coins, besides Bitcoin, and it actually has a $1.1 billion market cap.
I think Litecoin has the chance in the short term to actually go up some more because it's $27 today, it's been significantly higher. This prediction I was right on as the price today is over $42! Litecoin presents an attractive opportunity to speculate and move something up. It actually hasn't moved up as much as some of the others, but if you look at the past, Litecoin got all hyped up, and then it proceeded to go down and down for years.
I think a lot of the coins will follow this path and are going to see years of down and down.
Litecoin may do better than some of the others because it has a deeper history and a longer usage. I think that in the next month the Litecoin price might go up a little bit.
I think that in the next year, Litecoin is going to hold its price better than some of the others. In 10 years, I think that Litecoin has a good chance of continuing to be used online, although I don't see it blowing up and being number one.
I just learned a little bit about Stratis.
Now, I think that anything that gets blown up this fast is likely to have a hard correction. Stratis just went through being down at like 10 cents and now it's all the way up to $10 which is 100 times growth.
I think that Stratis has lots of exciting things now, but in the short term it is going to come down and down as well. I think that Stratis is going to drop easily maybe down to $5 in the next month or so. So far my prediction was right on this as well with the price at around $7 today halfway through the first month's prediction.
I would say it'll be down maybe to $2 or $3 in the next year.
In the long term, with the block chain adoption, and based on what I read in five minutes, I think it has good odds of being adopted in the way it's being used in companies.
I think Stratis has a good shot to be a long-term option for many companies to use, which gives it a good chance to go up. But again, companies don't move that fast on stuff usually. Stratis is going to need more time to have more true value.
Dash is so hyped up.
All my predictions for Dash are down. That's why I sold my Dash masternode. I think Dash is as hyped up as it's ever going to be.
I think Dash is way hyped up and I don't see that Dash has that many actual end users who are using it for legitimate purposes.
In my opinion, the things Dash does once were exciting, but not so exciting anymore. They have "instant transactions," but there are lots of currencies that send much faster than Dash does. Concerning the "anonymity," there are also other currencies like Monero that are being taken as the top choice on some of the places to transact illegally online.
The masternodes, the voting and the budget was an exciting feature, but I don't see that it's being used very well based on my experience participating with that. I think Dash is going down over the next month, and will continue to go down next year. So far I was way wrong on this as the Dash price went up to around $200 and is still at $187 today which completely shocks me!
I still think Dash in ten years won't be around anymore because the community will implode after some disaster such as a bunch of masternodes getting stolen which will trigger a big masternode sell off and a price drop that will never be recovered from as masternode owners invest in newer currencies. As soon as the masternodes realize that it's not going to be a long-term option and some of the masternodes want to take their money out and invest in something else, the whole thing will crumble from there. Dash is basically propped up by the 4,000+ masternodes and it's all over when the masternodes start pulling out.
Monero, I think has a very bright future for some of the same reasons I think Dash doesn't. Monero seems to be one of the choices right now for people doing illegal services online and that's one of the things that blew Bitcoin up.
Bitcoin got blown up by people doing illegal services. Now, Monero seems like it's actually very good for serving all these illegal marketplaces because of the anonymity built in. Now, while Dash is annoying to use the anonymity features, it's very easy to use it apparently on Monero.
Monero hasn't got blown up as much as some of these others.
Now, it is up about 20 times from a year ago. It's actually been pretty strong over the last year. It has not had that much of a surge compared to a lot of these other currencies.
I think that Monero will actually hold its value or maybe go up over the next month. So far this prediction is correct over the last three weeks with the Monero price now over $50! I believe that Monero has got a strong future.
The biggest risk of Monero, like anything that is adapted too much for illegal currencies, is to be targeted by governments, which then if there's some big marketplace taken down or if the currency itself gets taken down by government, that could be a big risk in the next ten years, but I think Monero will survive that.
I think Monero's going to essentially replace Dash as the choice of an anonymous cryptocurrency at the top.
I think Monero looks good for the future.
I don't know that much about some of these other currencies that have been traded up. I think a lot of them that have just been blown up are likely to go back down, especially if they don't have that long of history. Now, Bytecoin is an exception to this.
I like Bytecoin because it's been around for years. In my opinion, online currencies that are newer present a much bigger risk than those that are older. Why? Because something like Bytecoin has been getting worked on, people have been investing in it their time, energy and money for a long time.
Currencies that are newer and just all of a sudden come out with all this hype, tend to be more of a risk. Even Steem, that I'm so pumped about, is newer relative to some of the other currencies.
I think Bytecoin might have got blown up a bit too much recently, but it has a good potential to stay up where it is which as of three weeks later is accurate.
I think most of these though that have seen this kind of growth are likely to have the down trend.
So, my predictions for most of the rest of the top 50 cryptocurrencies follow this pattern.
Total Market Capitalization
If you look, there was a huge upsurge in 2013 and then the market corrected itself and went back down. The market went down from about 15 billion down to about 4 billion over the next two years.
I think that we're into a similar period right now.
There has been a ton of excitement lately and during the last year about these currencies. I think everything pass, people get excited, it's all about cryptocurrencies now and I just can't make enough cryptocurrency videos.
But then in a few months, it will be on to something else. It will be on to whatever's next and most interesting to invest in and trade in. I think we've kind of hit a peak with some of this energy for now and a lot of the people who've made money, who have invested like me, could be looking around at things and saying, "This has gotten really high, I want to pull my money out and put it back in the bank, and hold on to my winnings."
I think that these cryptocurrencies are going to continue to have a downward trend over the next month.
Many of them may go up and down, and I'm not sure, for many of them, which ones will go up and which ones will go down. The more volatility they have, the more opportunity it gives you to both make and lose money.
So, if you just like to gamble, some of these might be fun to buy into when they go down.
One of the cryptocurrency I was interested in was PIVX, and this has just been crazy over the last three months. It's gone up, but it was over $2 at one point, then it dropped all the way down. It was down to 73 cents, now it's got blown back up to $1.64.
PIVX is so new, if you look, it's one of those currencies that's not that old. It's only been getting traded a lot recently.
The problem with these cryptocurrencies is that for so many of them, you're basically running completely on the community and the speculators. If the speculators lose interest, then it's going to be hard to maintain that energy.
Now, one of them has a very good future in my opinion and I posted a video about it yesterday.
Steem is a bit newer, but I think it has a chance. I don't think Steem has actually hit its peak yet.
Most of these other newer cryptocurrencies like Gnosis or Siacoin have had this unbelievable bubble. Most of them have been through something like this, where they've been around a while, and they've just got blown up all of a sudden.
Now, out of all these currencies, Steem has not got blown up the same way. I think a big part of that is Steem was massively inflating the currency. Everyone was excited about Steem after it'd been out for a few months, and then people started realizing the inflation and watched the price drop from $4 all the way down to 7 cents.
I think a lot of people are not excited or are scared of buying into Steem again. I bought into Steem when it was up in July, and then I bought in again when it was down in April.
Then I thought, "This is stupid. All this currency does is lose money," and I sold all of it. I think that's what a lot of other people have done. I think some of the early adopters have got in and bought some more Steem, but I think it still has another power curve to hit.
This is what make Steem so awesome. I haven't seen any other currency that has what you can do right here.
Steem is basically a social network made with the best of Reddit and Twitter, Facebook and Medium. It takes the best elements of those sites, where you can just make posts and make money on them.
I have not seen another currency that has anything this cool in it. I made an entire video about what I believe is the best June 2017 cryptocurrency investment, so I won't go on about that any longer.
Now, if the price of Steem gets blown up ten times like I think it's going to, then it won't be the number one investment anymore because it'll be so high.
I think that a lot of these currencies already have peaked for now and if you don't sell now, there's going to be a lot of losing money over the next few months. However, in a year and 10 years, I think the prices will continue to go higher and higher as people worldwide start to put their money into user managed currencies rather than into government based currencies.
There was a ton of speculator and all this hype over Zcash last year because of its features. For cryptocurrencies, features means something, but they don't mean everything.
In my opinion, the community is everything, because it's just like real currencies or fiat currencies, the government issuing the currency is everything. In these currencies, it's all about the users actually using the currency.
Let's look how hyped up Zcash was when it first came out. Zcash was hyped up stupid. Zcash was literally like six Bitcoin.
Zcash was six Bitcoin, which was $4 000 at the time.
Zcash was crazy hyped up when it first came out, then it got down to $1,000. I was looking at it and thought, "That's stupid. It has no real value right now."
So then, what happened to Zcash?
Let's load all the data over the next several months.
The value went down, down and down.
Zcash bottomed out around $20 or $30.
At one point it was $3,000 for Zcash because it was so hyped up. Then, it was several hundred for Zcash, finally it went all the way down to $30.
Now, since then, it has made a good recovery, but it still hasn't even gotten back to where it was before in terms of the actual price to a Bitcoin. Now, Zcash was a billion dollar market cap for a little while and it has started to get close to what its market cap was before.
But still, I think that most of the top 50, not the top 10 necessarily, but most of the top 50 currencies are going to go through this same process. They're in a phase where they're going to go back down, and then many of them may go back up again.
I might be wrong, they could go straight up.
I don't know, I just guess.
Black sheep event
Now, there is one big thing though, there's the unexpected black sheep event where something happen like an exchange gets hacked, or where some government passes a law. Even Russia seems to be favorable and is going to pass a law regulating cryptocurrencies, which is really exciting.
The government seems like they're going to go forward and allow these currencies, which is a brave move on their part. At the same time, there's likely to be more hacking and black sheep events like Ethereum that had this massive DAO project which got hacked. I believe Ethereum Classic was used to let the hacker cash out and move forward. I could be wrong on that, but I think that's what I heard.
Those things will utterly be able to devastate the price of a currency. Dash has a great opportunity for that as well because of masternodes. Masternodes present a very good target for a hacker. It's not that hard to find out who has a masternode, and once you find who has the masternode you can go in. If you can figure out the exact way they're holding their masternode, especially some of these guys that have a bunch of masternodes, it presents a really lucrative target.
Because you can steal it anonymously and cash it out very easily.
So, I think that some of these black sheep events like this will totally take down and destroy some cryptocurrencies. All it take on Dash is for someone that's holding 10 or 20 masternodes to have them get stolen, and then that go out, and all of a sudden everyone unloads their masternodes and the whole currency is over with.
I think that some of these currencies are going to get hit with things like that. The way to keep yourself safe from that is just to bet the market. If you buy in a little bit to all these different currencies, then if one of them gets hit it won't knock your whole portfolio.
Going all in or diversifying?
Now, I'm currently vulnerable. If Steem gets cracked and everything falls apart on Steem, I've got about $31,000 in Steem right now.
If something happens to Steem, baby, my boat's sinking. I've got everything in Steem right now. However, I just got everything in Steem because I believe it's such a good investment.
So, it's tricky to just walk the line because if you want to make the biggest profits, it helps to be all in on something. I went all in on Dash when it was at $11, I sold at $87, as you've probably heard 80 different times by now. By going all in on that one, I made a really good profit.
Now, if I'd gone all in on Ethereum, I could have made a similar profit. Ripple, New Economy Movement, I could have made similar profits on a lot of these. I also bet the market and made a similar profit as well with several Bitcoin, which turned into several more Bitcoin.
So, if you want to protect yourself from one individual currency crashing, just buy into several different currencies. You can either, if you don't want to research and get to know and participate, buy into a bunch of them for a little bit or you could take my strategy, get to know a few that you really like, if you want to join me on Steem, you could buy into that.
I think the price is going to go to $10, it currently is a $1.28. I don't know if it's a coincidence or not, it went up a whole bunch after I released the video yesterday, it went up 20% or 30%.
"You got to take credit for that?"
I don't know.
I released a video yesterday on Steem and it went up a bunch. Several others went up a bunch that I didn't release video on as well, some of them went up higher, so here is my ego for you.
If you pick out a few cryptocurrencies that you really like such as Ripple and New Economy Movement, Dash and Monero, if you really believe in them, then you could just put everything into them.
If one of them falls apart, then you won't lose everything. You might lose a lot, but you won't lose everything.
It's tricky to balance everything out. I try to follow my heart and sometimes my heart clashes with my mind, which is challenging.
I give you these predictions today.
I think that most of these cryptocurrencies on the top 50 are going to go down over the next month. A lot of them have been hyped up and speculated up a lot, and there's very little value in them.
I think that there's probably maybe a handful of them though that will continue to go up a lot in the next month, where there's a lot of money to be made.
I think over the next year, that most of these currencies in the top 15 to 20, are going to go down and down. A couple of them might go up and become into the top ten.
I don't know which one of those are, I just gave the best guess I have today.
I thank you very much for reading.
I appreciate any of your suggestions or comments as to what the next coin is that's going to be hyped up.
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