The stage is set for an explosive year for cryptos. First, let us start with the ending of a massive 8 week sell off. There was no real reason for the past two month sell off of cryptos. All of the FUD in the past two months was false. We all heard of the South Korea, China and India rumors that put crypto in a negative light but was false. Who is spreading such rumors? Well, "they" succeeded in panicking the weak hands to fire sell their cryptos. Who bought all of the cryptos in the past two months? These are the strong hands and institutional investors (big money). It is the "big money" that had media access to spread the FUD. You and I do not have such clout but they do. There was no technical reason for this past sell off. The sell off was orchestrated to buy up more crypto at a discount.
Second, now that cryptos hit rock bottom or tested the 200 day moving average, bases are set for a bull run. Institutional money has a strong crypto position now. It is in their best interest to drive up the prices to all time new highs. All that we need to do, is go along for the ride. Hold strong and do not panic sell.
My third thought, for the stage being set for a record breaking year, is the favorable report from both the SEC and CFTC commissioners on Capital Hill. As I mentioned in my article yesterday, the U.S. Government gave a giant GREEN light to the crypto industry. The commissioners favor blockchain technology and both understand that this new Fin Tech is here to stay. The "Genie" can not be put back into the bottle. The government knows that blockchain technology and crypto currencies is the next evolution to the global financial/commercial system. Cryptos are no different than the advent of the internet back in 1992. To those that had foresight back in 1992, understanding and investing in the internet turned out to be huge for them. Today is no different. Will we see the future of the blockchain and cryptos to be just like the internet? Will we understand and invest in cryptos now and benefit in the future for making such a decision? Time will tell who had insight and invested accordingly.
Reason four, for this being a great year for crypto, is the weak performances of Fiat currencies. The global Fiat currencies are racing to the bottom. Global currencies are being devalued and beginning to hyper inflate. The inflation is being hidden in the global stock market, college tuition, health care, real estate and off book military projects. Very soon, we will see hyper inflation hit food, utilities and basic daily living needs. When this happens, people become restless and desperate. Behind the scenes, many governments hope to stall for time and hide hyper inflation in the crypto markets. We will see trillions of dollars poor into cryptos as a market sponge to absorb the printed Fiat currencies in hopes of delaying the inevitable.
The fifth reason, is due to the continued revelations that are coming out regarding the massive crimes of government officials and employees. The more people find out how bad the crime is at the U.S. Federal Government level, the more people will lose faith in the currency. All Fiat currencies are only as good as peoples confidence in them. If people have doubts about governments behavior and fiscal responsibility, they will not put faith in their currency. Take a look at the Indonesian Rupiah, Malaysian Ringgit, Venezuela Bolivar, Egyptian Pound and Zimbabwe dollar as examples. The currencies are in trouble and people have lost all faith in it. Crypto currencies are not owned, controlled or printed by any government. Cryptos are honest money and are deflationary by design. Ask any one of the citizens, in the above mentioned countries, if they would rather have their governments currency or Bitcoin. Even with Bitcoins latest retracement, Bitcoin has outperformed all global currencies by over 2000%.
So in conclusion, as global awareness increases with crypto currencies and the blockchain, so will the value of cryptos. Personal individuals as well as institutional investors (sovereign funds and hedge funds) are increasing their investments into cryptos. The only way for cryptos to go, is up. A One Trillion Dollar market cap will be reached and surpassed this year in crypto currencies. Years from now, we will look back and recognize 2018 as being a turning point in financial history. Hindsight is always 20/20 but seeing into the future is difficult. It is scary to be a part of anything new and unfamiliar. Crypto currencies/tokens are new and only some what familiar. The bold and educated who adopt crypto will prosper. The ones that wait for hindsight to get involved will always wish that they had acted differently. It is the ones who waited that always become envious of those who took the initiative and plunged in head first.
image from: autismafter16.com
Excellent article! Gives me faith! Resteemed!
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Thank you, yes we will all do very well this year. Cryptos are here to stay and are not going anywhere. They can only go up
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go Blockchain Revolution.. at last some sane commentary regarding the fud bomb. well I think you're correct in your assumptions and 2018 is the year of the altcoin. I think we'll see people get very excited about blockchain as it literally turns the world upside down. I've always said this. all we can do is side surf with the sharks like a wrass. if we're smart we can stay alive and ride their waves. take our eyes off and we're dead meat. that's what's so good about platforms like steemit. not only is it showing the world what a graphene blockchain can achieve in terms of numbers and speeds.. 100,000 tps and possibly millions ? it's also a way to earn good proof of brain cryptos and the tokenisation of the internet has begun. come back in 5 years and everything on the internet will be tokenised there will be more than 100,000 cryptos by 2020. if you can gab 1,000,000th of one which will become a major feature of the future landscape you'll do just fine. remember there are 35m millionaires in the world. they could in theory all have one BTC each if nobody else had one. the fiat will come dancing in when they realise what's going on. at that point anyone who holds at least one btc will be fairly pleased with themselves :) boom <> fomo bomb dropped
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Yes, you are correct. Thanks for your comment!
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I love to hear this. There has been so much negative. It is nice to hear something uplifting about what is coming. It is crappy to see and experience the dip but I am sure it is going to all work out.
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Yes, it will work out very well. For many, the past 8 weeks was their first real sell off. After the rebound many will be seasoned and not panic when it happens again. Remember, every time this happens, cryptos always make all new time highs!
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Which crypto do you see exploding? I strongly believe in EOS.
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EOS is good. LTC is very strong and will do well this year. OMG is good, SALT is another one. PPT is a good stream of income token. VERI , over the next 2 years will be the only token to equal BTC
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