GREAT READ!! ENJOY, ALOHA :)
http://cryptowisdom.io/cryptowisdom-market-report-2-november-22nd-2017/
Recently a friend of mine finally managed to buy a fraction of a Bitcoin. He has watched the crypto tale unfold, but from the sidelines for quite a long time, reluctant to buy in, because obviously buying Bitcoin is getting an expensive venture these days. While he managed to obtain about 0.3 BTC for a start, there seems to be a single point of interest: getting more Bitcoin. And this is exactly what this is about. He (and by the way everyone who does not yet own crypto, but observe it from the sidelines) wants to have AT LEAST 1 whole Bitcoin. Well, getting a whole Bitcoin is getting tricky for most people with the price hovering above $8000. It is a bit comparable to what happens with Masternode FOMO, when traders start to push that buy button because the masternode is slowly getting out of reach and they fear to miss out. Thats exactly the same with owning a whole Bitcoin. Imagine a price of way above $12k or even $50k. Telling your friends that you just bought 0.001338 BTC is nothing to be very proud of. It doesn’t have the ring to it, everbody wants a whole BTC, AT LEAST.
And this is where this story gets interesting, because right now we at the very threshold where owning a whole BTC is quite expensive, and it will soon be out of reach for most people entirely if prices go above 10k and onwards. So what does that mean? Basically it has two significant consequences. Firstly, people will push the button rather sooner than later, because they know if it continues to rise they will never manage to hold a full BTC. Especially people sitting on the sidelines observing will feel the urge. If the two options are to either have a BTC but pay much, or have no BTC at all, many will decide to buy instead of waiting even longer. The risk of missing out on this rally is just too high and the pressure is rising. Secondly, if you are not able to afford a whole BTC, what you gonna do with your 0.3 BTC? You either hold it, which is frankly quite boring, or you reinvest it into $ALTS with the chance of multiplying your amount manifold. This dream comes along with the possibility of owning even more than a whole BTC in the future. This is generally true for all Bitcoin holders. If there is only two options, to Hold or to Reinvest, it is obvious what the majority will do. If you don’t like risk I assume you wouldn’t have entered crypto in the first place. I think its pretty safe to assume that the majority of crypto hodlers are accustomed to take risks and even enjoy it, which contradicts with the “just hodl BTC” idea and strengthens the idea of reinvesting BTC into ALTS in order to obtain more BTC eventually. Sure it is more risky, but isn’t that the purpose of this crypto thing in the first place, to take some risk and potentially obtain financial independence for a lifetime? Sole focus on security usually doesn’t get you anywhere…
However entertaining the $ALTS strategy is a little more complex than just hodling BTC. Firstly, we have two requirements for making extraordinary amounts of money, instead of one. If you just hodl $BTC, all you need is to be right on $BTC. However if you are like me and decided to play this game in ALTS entirely, you suddenly need two requirements: You need to be right on BTC AND on ALTS. It is therefore way more risky, but once #GoldenAge is here (which I use to describe the situation that both BTC and ALTS rise at the same time parabolically), you will make double profits in a very short duration of time. I therefore suspect that the ALT markets will become significantly more important in the long run, as it is the ONLY way to increase your holdings of BTC. If you go to a Casino and get some chips, you want to play, you dont want to just keep it in your pockets. You will give it a go on the Roulette table and hope luck is on your side, right? Because that’s where the thrill is.
During the last week we experienced mass coverage and attention in global media, TV, newspapers, everywhere. Coming from the traditional bubble stage theory it would indicate that we currently reside in the “Media Attention” phase, which is usually followed by extreme influx of money, right into the stages”Enthusiasm”, “Greed”, “Delusion” and “New Paradigm”. Which is absolutely in alignment with the signs appearing everywhere that the Early Majority will soon begin to participate in this emerging market. It also means that Institutional Investors have finished accumulating their positions in order to dump on new market entrants during the latter stages of the trend. As a logical consequence we will soon begin to see real life adoption everywhere around us. And that in turn means that Mania Phase is ultimatively beginning. I am talking about mass fomo on a global scale, not only for BTC but more prominently any promising crypto people can get their hands on before it is too late. Is that actually theory or backed by anything? Lets check that out, here is the Google Trend Charts for some typical crypto search terms: ...