Bitcoin is not in a bubble Only 300,000 Bitcoin accounts have 5000$ or more worth of Bitcoin.
In the video linked below, Thomas Lee appears on CNBC's Fast Money and reaffirms his short-term target of $25,000.
Lee explains; " There are only about 300.000 holders of at least $5000 of Bitcoin. Thats like saying the Iphone was a bubble in 2007 four days into the sale because there were 500,000 Iphones sold. Bitcoin is a protocol, meaning, the actual network itself is generating value."
Again, I must stress that you don't let the fluctuations and volatility and noise we're seeing now confuse or affect your decision. I know it must be hard to have bought in at $3000 or even 4000$ and wonder if are ever going to make any money. But if you made the decision to buy because of fundamentals, you should shrug those irrational thoughts off. Also, I don't Bitcoin will take 5 years to hit $25,000. He is just being conservative because he needs to take care of his mainstream reputation. Personally I think it will go much faster, and that we will see Bitcoin at $25,000 in less than three years.
Right now Bitcoin is trading at $3910 on Kraken. To me the 5 hour and daily chart look pretty bullish. That shouldn't matter to you if your're a long term investor - but perhaps it helps to calm the nerves. I knew we all want to head for new ATH's above $5000, and I have no doubt in my mind we are going to do that very very soon.
"This is not investing advice. I am not a professional. Do your own due diligence"
Agreed:) I had to write a reply to Stig Myrseth about his recent blog post, which revealed a very several lack of understanding of BTC and blockchain technology in general (http://www.xtrainvestor.com/en/group/stig-myrseths-blogg).
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Straight gangsta @janusface. It's cringy when the new "elite" bashes the old dinosaur elite. This is how shit shifts. We can just watch the old world slowly die in their ignorance and misconceptions. I'm not as technical or even as intelligent as you are Janus, but I'm good at macroviews on the world and trends. I love how this new technology enables a lot of us to learn, thrive and be involved in something at an early stage. We are enthusiastic and eager to learn, while the old dinosaurs have too much invested in the old system. People like us are invested in the new world.
Stig Myrseth will never reply to you, but you dropped the bomb on that ass.
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'You dropped a bomb on me' is actually a song. Never heard before, cool song:)!
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It's awesome. Check out the barkays for more awesome funk in the same "street" :)
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I really regret i didn't buy btc in 2013...
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We all do! But how much will you regret not buying at 3000$ or 4000$ when BTC is at 400,000? A LOT.
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I am planning to buy it, but i think You are too optimistic about the price :)
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A lot of people said that a YEAR ago when prices were $500. Few thought prices could 10x in a year. Why? Because of lack of knowledge IMO. 10x $5000 and we're at 50k. It could easily happen. Although, I do suspect a pullback from 10k levels which will probably IMO happen late 2017 or early 2018. Sure, it could also not happen. :)
The odds of Bitcoin just hanging around 3-6k for months and months is small. We're still in a phase where it is undervalued and interest in BTC is booming.
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Excellent content. Good information. Thanks.
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Thanks for commenting brother!
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Bitcoin is good, bitcoin is great, but people most often don't take into consideration altcoin. Sure Bitcoin will grow, but other coins may grow faster due to some well known techy advantages.
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Sure! It's smart to own some altcoins as well! But personally I have 60% in Bitcoin.
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@scandinavianlife got you a $1.56 @minnowbooster upgoat, nice! (Image: pixabay.com)
Want a boost? Click here to read more!
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like your post.
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It is possible now to turn off Ethereuma mining, so now it's better to buy EthereumClassic, because in the coming months the coin will grow.
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I best get my hand on some bitcoins.. thanks for the information.
I really need to up my crypto game!!
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I honestly don't think it's too late at this point! Just don't go in with any money you can't afford to lose. Even a small deposit could be worth tens of thousands of dollars in the future.
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