Exciting Times for Crypto Enthusiasts Everywhere
I thought I was dreaming about 20 minutes ago when I was looking around CoinMarketCap and just happened to glance at the top of the page to see the whole of Crypto is now resting on exactly on the lump sum of $101,945,528,493 market cap. I knew a day would come where we would see such a nice volume but its still a lot to soak in that Crypto is making more and more headway then ever in the year 2017, a true historic year for all of us.
Bitcoin has tripled its value in 2017, and Ethereum is trailing right behind it in growth. One of the craziest things one should really absorb today, Bitcoin has now surpassed the market cap corporation giants like f Ford Motor Co, Delta Air Lines Inc., and now Deere & Co. who makes the John Deere line of products. We are worth more than Ford? Now that is something to really take a sit back and ponder how far we have come together in the Crypto movement.
More Bubble Talks
Of course as we sit back with pride about the peaks we are crossing, there are those still at us crypto enthusiasts with negative nancy attitudes. Billionaire Mark Cuban tweeted earlier: "bitcoin prices were in a bubble" and added "“more religion than asset.” about Bitcoin. Mainstream wealth still doesn't get the whole concept of wealth generating possibilities I guess but I will say this, I will take being a movement vs an asset any day. Assets liquidate, movements are a force to be reckoned with when you have such a tight strong crowd like those within the cryptocurrency movement.
I did a post on this bubble negativity talk going around so I won't rant in this article. If your curious about my take on the bubble paranoia here is the link to that specific article I wrote:
https://steemit.com/bitcoin/@sflaherty/bitcoin-everyone-expects-the-bubble-to-burst-what-if-this-isn-t-a-bubble-afterall
Expert Predictions
Not many know this but I have been a very serious trader for years, from fiat day trading in the early days of internet to very intense crypto trading in the last year full time. Right now I believe everyone should strike out and really educate themselves on trading education, its going to be a huge investment in your choice making this summer if you plan to stick crypto out.
I personally try ride on the heels of a few experts now and then to make educated choices when trading. I became very confident about a prediction I seen over at Bitcoin Magazine yesterday and would like to share their analysis summary. I will link their full breakdown after so you can read more about this.
From Bitcoin Magazine, Price Analyst by Josh Olszewicz on Jun 5, 2017 11:51 PM EST
1. A new all-time high is extremely likely, with continued demand for bitcoin and cryptocurrencies worldwide.
2. Despite the heavy premiums in Asia, USD trading volume leads the rally.
3. Based on technicals, targets above $3,000 are extremely likely in the near future.
The full analysis can be found here:
https://bitcoinmagazine.com/articles/price-analysis-cryptocurrencies-hit-100-billion-market-cap-bitcoin-reaches-new-highs/
I agree with this analysis very much and I believe we are already a day later seeing signs of that run to top over that $3,000 BTC mark. The demand for Bitcoin is unprecedented lately and you can see that in the transaction wasteland build up going on due to the lack of Segwit or some other fix to clear that issue up. This is creating a nice demand situation and a lot of hording and holding, kind of a perfect storm.
Do I predict some massive bubble bursting and a strike down so low it may need a long recovery? Personally I am not seeing it yet at this moment but in times like this it is very wise to really read your charts, listen to the experts and keep an eye on your investments a lot. Got to be vigilant this go around the markets but I have a feeling we are all about to make some great money and watch crypto kick the mainstream central banking systems ass.
This post is a perfect example for a reason why I follow you! Thanks for this! Love your style!
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Appreciate that, I know lately I been posting a lot for my Steemit Blogger Central stuff, lol....figured I better get back to my normal writing for you guys here. Really appreciate the support on this, I plan to kick a few more of these out the next couple of days, so much news for crypto going on I want to catch all the good stuff for you guys
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Hey bud, can you go to my last post and cast your opinion on which book cover you like best. Thanks man!
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Sure can, will head over there in a second and give you an opinion, not a problem
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I havent trade my coins yet im just keeping them now, but when do you know to trade them? I'm kinda new, I started in january
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I do it this way, I tend to hold as long as I can bare, watch the markets and try to decide when profits are enough before that coming dip down may happen. Its a bit of trusting your gut and researching what the coins future maybe like, if they got updates....new expansions or just some off the wall growth happening. Its seriously hard to predict, especially right now because the markets are getting so much growth due to mainstreamers starting to catch onto crypto. I suggest what ever coin your on, read as much about them as you can, find out their inner workings and try to decide if it has a future, if so that that is worth holding long term. Hope that helps, I know its vague but its really a vague side to trading that is difficult to discern. What are you holding right now? By the way I followed you
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Thanks! well I have a bit of everything, some dogecoin/ art byte/waves/eth/peercoin/digibyte/btc/lite/nxt and gulden. but haven't sold them yet. btw lite coin fucked me with the segwit update. I bought it when it was 35 on his top -.-. so you really have to guess if its profitable when you buy or sell anything.
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Man that sucks about litecoin, just was a bad moment...its a good coin but this is the issues going around due to all the Segwit needs to kick in for expansion fixes. Very good choices in your picks. I suggest to look at PIVX too, i used to work in there and they have a huge opportunity to rise when they get a few updates coming, might be a little hold but when it goes off it will. I still back them just more full time now with other stuff.
I wouldn't say you guess, more or less read about the coin, meet the communities behind them and educate guess the future a little through that. Joining SLACK channels for coins or forums is a great way to dig up the dirt. You gotta be careful in crypto....some coins can and have died off in the past but your picks are solid ones that I don't suspect death to come to
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Yea maybe I should dig in the coins, but I want to transfer my coins to another wallet. Which exchange do you use?
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I use a few, I tend to bounce where the low buy ins are and where the highest sells are lol. Usually Poloniex, Bittrex, Cryptopia...will sometimes visit YoBit but I am no a huge fan of them, seems scammy there lol...I walk out of YoBit feeling like I left a dead hooker in a room...something dirty feeling about that site hehehehehehehe. What I tend to do is watch prices on coinmarketcap.com as my hub, click on my coin there and hit the market tab and see who is paying the highest out, tends to be between Poloniex and Bittrex most times but there is always small exchanges that pop up and surprise you. I honestly am signed up with about 20+ exchanges but those listings I gave are usually where I go. Oh and lately I have been using Block Trades a lot for my mining, tend to send my mined coins there on the fly and toss them into Steem Power lately. Did a write up on that deep in my list on how to go about that but you can also follow @blocktrades on here they do a lot of postings and active with the Steemit crowd....awesome people over there from what I seen of them, never done me wrong
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I do already have a poloniex account tho but didn't get to used to it because there are so much things on the website xD I'm using bittrex now and sent all my coins to it from litebit. well not all of them like peer coin has his own wallet.
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Be careful using an exchange as a wallet, always best to trade there but keep wallets on your pc from the coin dev teams. Reason is there has been past known issues with lost money left on exchanges. Bittrex has a good rep but gotta remember this, you do not hold the keys for your coins when they are on an exchange, the exchange does so security is always on them and not yourself. I tend to trade and send my stuff to my personal wallet on my pc for that reason. Some leave them on exchanges but there comes risks in that area sometimes
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"Who the hell is Mark Cuban!?"
My personal opinion: BTC price will surpass 3 K this week for sure; after this level is taken the rise continues. This price action will help the miners to overthink and change their attitude on SegWit - because they realize that, otherwise the USAF BIP148 will kick their pants out of the race! When SW is activated prices will show up at the 4 K level... - so far my opinion! "Bubble Land?" - No way, Marky Mark Cuban... - not yet!
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LOL Mark there is a billionaire that is always on his Twitter talking smack about crypto being a joke. Honestly though he is a fiat whale and has 7.5 Million followers who hang onto his every word so once we can break him down we might grow some more lol. I agree with you, definitely not a bubble and we should see $3000 very soon
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