The major cryptocurrencies like Bitcoin, Ethereum, Litecoin and Ripple are down by more than one to eight percent today:
I want to let you know what I think of the cryptocurrency market we are facing, as I’ve experienced what is happening previously (2014-2015).
Cryptocurrencies tend to operate in a triangle, where something sparks interest, media coverage, prices are rising, and everyone is “making money.” One could argue that the latest surge in bitcoin and ethereum price is driven by ICO-enthusiasm. The prices tend to drive sharply upwards until deposits are matched by withdrawals and “take profits”. I believe bitcoin hit that crucial target at $3000 per bitcoin, and I hate to say it, but if history will repeat itself, the bitcoin price, including other cryptocurrencies, might fall by 70 to 80 percent in the coming years (2017 and 2018). The hype seems to be over. ICO-scams are appearing, and you can expect negative media coverage going forward, demanding regulation.
Cryptocurrency investors are impatient, so when they do not see that the price is rising but standing still, they tend to get bored and anxious. This might lead to a selloff which creates more panic in the market, and then prices go down.
I want to prepare our Gold Members of such a scenario. Of course, I might be wrong, that in this case the price will keep rising to 1 million USD per bitcoin (lol), but my gut feeling tells me we are continuing down to at least $1000 per bitcoin within the coming years (let’s hope I’m wrong).
What does this mean for you?
You should not hold more funds in cryptocurrencies than you can afford to lose and still be happy. Do not bet everything on the magical cryptocurrency economy. Put more funds into ordinary assets like Gold, Silver, and even corporate bond funds as I have.
This report has been sourced from hacked.com and I hope I'm not breaching any rules by sharing this information.
i think an 80% drop is possible, not likely but possible. I expect the market to go sideways or slightly down until September when it will rise. just my opinion.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I think it is to do with media hype as well, people jumping on with the hope of becoming millionaires overnight, and I think as this mass hysteria wanes we will see a drifting lower, but just need to find funds to keep on topping up as I believe this is the future once mainstream adoption becomes more the "norm"
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
First of all, we have to be more realistic. Cryptocurrencies will never be different than any other stock market, where value + demand and supply are under constant scrutiny. We all wished to become millionaires overnight, but that dream should be forgotten, and we should focus on value of cryptocurrencies or tokens we believe are 'for a greater good', and therefore participate in their development, no matter how small our part might be.
And never fall in love with any crypto, we live in super fast developing times, so what is today's 'hit', it might be obsolete tomorrow. My personal opinion is that is what is happening to Bitcoin right now.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Agreed, we need to see more adoption in everyday usage, and trust, but it is happening.....
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
https://hacked.com/top-10-cryptocurrencies-tanking-prediction-bitcoin-price-2017-2018/
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Check this video out, we might not even be close to the end of the bubble, this also might not even be a bubble.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
will have a look now, it is getting kind of worrying, although I do believe in market corrections, just hope its not to BIG a correction :-)
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit