I Am Bullish On BTC And Why I Sold Some Of It Last Night: HINT: Think STEEM

Please bear in mind I do not give financial advice only telling you what I am doing.

I am not one of those people who believes BTC is in trouble. While those who are bearish on BTC have valid points about the speed of the network and the cost of transaction, I really do not think any of that matters. Wall Street is on the way and they speak a different language. ROI, liquidity, and 20/2 are what hedge fund managers understand. They are not going to discuss block size, transmission speed, or side chains to their clients. That is not how you get a 7 or 8 figure check out of someone.

My forecast was that we would see a $1.5T market cap by the end of 2018. Since we already crossed the $400B level, that might be low. Whatever the number ends up being, Wall Street is going to push a few trillion at this market over the next couple years. That is bitcoin's strength. Bitcoin has the name recognition and the liquidity to make it something Wall Street can sell. I expect Bitcoin to get a large portion of the Wall Street money.

So why did I sell some of my bitcoin last night? To start, I had a decent gain. It is never a bad idea to take profits off the table. That is what I did. However, I was fully confident in leaving my money in BTC for the long term.

In 2018, I can see a price on BTC of $50,000; 70.000; even 90,000. There is no reason why BTC cannot see a 3-5 multiple next year. Even with the big run up in 2017, these numbers are not outrageous when you consider the Wall Street money entering the picture.

What I do not foresee for BTC is a 50 or 100 times gain in 2018. There is no way that BTC will hit $500K in the coming year. While a 300%-500% return is outstanding, in the cryptocurrency world, that is minimal gain. The reason I took money out of bitcoin last night is because I feel that there are a couple tokens that are capable of yielding the return I am talking about here.

The first coin I entered was to power up with some SP. It is no secret that I am uber-bullish on this blockchain. My projection of $100 by the end of 2018 still stands. From these levels, that is roughly 75 times gain.

Another advantage to buying SP is that it enhances the entire network. Everything I do on steemit is now more potent because of the added VP. Not only should this help myself, it also enhances the ones I interact with. This is a winning formula in my view.

The other coin I bought was bitshares. For those who follow @haejin, you know he is over the moon about this one. There is nothing that excited him more than bitshares and he is extremely bullish on most tokens that he charts. This is saying something.

I also love the fact that it is a de-centralized exchange looking to replace many aspects of the financial industry. Barely a day goes by that we do not hear about some country threatening regulation. I have complete confidence that the banksters will push government regulators (read hacks) into over stepping the bounds and creating onerous regulations. This will ultimately force people to move to those exchanges that are outside the regulators control, i.e. de-centralized exchanges.

Sometimes bullishness is trumped by uber-bullishnes. I know that BTC kept going up while BTS stalled and STEEM pulled back. Timing markets perfectly is near impossible. Besides, I am in these for the long haul so missing a couple dollars is not the end of the world.

If you are on this platform, I do not think it is a mistake to add to your holdings. STEEM is one of the few coins where one can directly influence what kind of return he or she gets. The Proof-of-Brain concept enables all of us to add more STEEM without buying them. To me, this is a very enticing aspect. Also, SMTs are going to change the publishing/content creation via many ICOs. We all saw how ETH jumped due to the ERC20 protocol. Believe it or not, SMTs offer even more advantages than ERC20s do.

Oh, as an aside, the STEEM network is lightning fast compared to both BTC and ETH. The recent troubles in transmission speed by those blockchains would not even have steem or BTS breathing hard. This blockchain has a ton of room to grow.

If you liked this article and found it informative, please give it an upvote and a re-steem.

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