Bitcoin is set to have another banner year, at least according to Tom Lee, but it's the altcoins that are really going to outperform.
Specifically, he's talking about the top 50 altcoins by market cap.
He predicts bitcoin will hit $20k by middle of this year and then be double that by the end of the year.
Which means, we are looking at a price of around $40k for bitcoin within the next 12 months. Which makes buying right now, today, a great opportunity!
However, it might be even better for midcap cryptocurrencies.
Check out the video:
Top 50 altcoins by market cap to significantly outperform, but doesn't that include... steem?
Yes, yes it does.
Steem is currently #37, right behind Dogecoin.
(Source: https://coinmarketcap.com/)
Which, while we are on the topic, I see no reason in the world why steem should be behind dogecoin and bitshares in terms of market cap, but that is a topic of another day.
According to Lee, he thinks that the many of the midcap coins will go up several multiples of the gains seen in bitcoin. Gains of 3x to 4x etc are possible for many of these midcap coins.
**Which, if that was applied to steem, would put steem in the $20 dollar per coin realm!
**
Yes please.
One Caveat:
Keep in mind that these comments by Tom Lee were made yesterday before the news about South Korea potentially banning cryptocurrency trading was released. Though if I know Tom Lee at all, I would bet that news doesn't change his thesis a whole heck of a lot.
(Especially considering there are major question marks as to how likely an outright ban is to actually happen)
Tom's bullish thesis is mostly based on millennials finally having money to invest. They don't trust the stock market and they don't really view gold in the same light that baby boomers do.
For those reasons, Lee thinks a small portion of their investable money will find it's way into bitcoin and other digital currencies over the coming months/years.
If just 5% of the gold market makes it's way into bitcoin, that puts a $50k dollar value on bitcoin, and that is just 5%.
But wait, there's more...
Also, when you look out at the pent up demand for cryptocurrencies, you see a lot of money trying to come in that is not really able to do so.
Many exchanges are currently not accepting new customers.
Current exchanges have very low limits on what can be purchased and withdrawn each day.
Many exchanges have high fees.
Over the coming months, better infrastructure will be coming and also the increased competition in the space should ultimately breed better products for customers.
Combining all of that and it is very plausible that we see another massive influx of cash over the coming year.
Hold on to your hats ladies and gentleman 2018 could be a fun ride for cryptocurrency investors.
Stay informed my friends.
Image Sources:
https://qoinbook.com/news/say-goodbye-2017-2018-hold-bitcoin/
https://sethdavid.com/creating-massive-demand-services-targets/
Follow me: @jrcornel
If you look at the chart of almost all altcoins, then you can see they have slided from the peak from Aug 2017 and bottomed and then started to rise mildly from Dec 2017 and now the platform is fully set for altcoin rally and not to forget last year almost 50% of the bitcoin rally happened from the squaring off of the positions from the altcoin segment, becoz all those hard fork made a craze among the people.
History repeats itself, I dont know why there is strong intuition in me saying that the first half of 2018 is going to be fully for altcoins and altcoins will at least make 3X from here and some of the altcoins can even go up to 10X and later in the second half we will see Bitcoin surge.
Thank you @jrcornel ...its a nice article written by you and Have a great day.
I think your intuition are correct. Correction is about to get over soon.
Correction over.
Top Cryptocurrencies Pending Price Target and their due dates
https://steemit.com/cryptocurrencies/@salahuddin2004/top-cryptocurrencies-pending-price-target-and-their-due-dates
While I think Lee may be correct, I have a difficult time taking any talking head on CNBC seriously. They don't always seem to be the most informed on the tech, demographics, etc. so I sort of just see people spouting half-baked opinions.
Today, there is a tiny gate into crypto currencies.
I hope all of the small people take advantage of this. Even a couple hundred from a CC purchase of an alt coin will be a great boon to them.
When there becomes an actual door into cryptos, there are a ton of investors that would love to move into this space. The cash inflow will be unreal.
The bitcoin is a bubble people will still be yelling its a bubble, but when comparing 2017 (a childs balloon) compared to 2018 (a hot air balloon) and 2019 (the super-city-dwarfing-hindenberg) we will look back at old "its a bubble" graphics and laugh.
Great point. Those are my thoughts as well. It's extremely difficult and not user friendly to try and get money into crypto right now. What happens when it actually gets "easy" to buy cryptocurrencies?
Not sure if it will ever get a lot easier. The technology makes is very difficult. In addition, the addresses in wallets are hard to remember, a diffrent address for each coin, mostly diffrent wallets for several coins as most wallets don't support all coins... Not sure if this is the kind of effort the "ordinary" people would like to put in to it.
If somehow it got made easier, there would have to be some kind of person or company involved to make some changes. This would probably mean more costs which will hurt the decentralized part... Not sure but these are my thought... just putting it out there...
Steem for Steemians ! Next meeting at $ 10.70
X3 or X4 would be a major slowdown in % gains compared to last year.
True. Though it takes less dollars to move steem from $.07 to $2, then it will take to move steem from $4 to $20.
Not going to take long at all when the smt becomes a reality. Steem will pass EOS and several others easily, because it will be ready-to-go with several projects already waiting to implement.
It's going to be a huge year for Steem, assuming smt deployment is near.
I couldn't agree more. I have been fundamentally analysing a multitude of coins from the top 120 coins by market cap and have found a number that appear to have a very bright future ahead.
When looking at the potential of coins, I do all of the typcial things - check out the problem that the cryptocurrency solves, the value of the market it is within, the team behind it and more. But, with more and more newbies coming in to cryptos, I found that one thing which is important is to identify what type of person would want to invest a coin, for example:
a coin that has a solid use case for an upper class market may receive more of an initial investment.
A coin that is of specific value, for example a coin that solves a big problem in the biomedical pharmaceuticals industry may get the attention of large companies who want to use it, thus it may get a larger initial investment.
Either way, choosing coins that actually solve a problem is always the best way to go!
Great comment. I agree with you. Figuring out what problem is being solved is where any DD should start.
Thank you. Agreed! I always look for it in a coin. I am going to be doing a post about a different cryptocurrency every day, and I will be looking at coins with these traits - if you are interested!
think Steem will be massive!
Yes it is, that's why I'm gonna go shopping during the red tags !
It's a saleeeee!
Nice post, you have get 100 % upvote from @steemupvotebot, follow us for upvotes, updates and technology related news.
To, @jrcornel
Wouldn't it be, 8(100)=X....
I couldn't concur more. I have been on a very basic level breaking down a large number of coins from the main 120 coins by advertise top and have discovered a number that seem to have a brilliant future ahead.
When taking a gander at the capability of coins, I do the greater part of the typcial things - look at the issue that the cryptographic money settles,
the estimation of the market it is inside, the group behind it and that's only the tip of the iceberg. Be that as it may, with an ever increasing number of amateurs coming in to cryptos, I found that one thing which is vital is to distinguish what sort of individual would need to contribute a coin, for instance
a coin that has a strong utilize case for a high society market may get a greater amount of an underlying speculation.
A coin that is of particular esteem, for instance a coin that takes care of a major issue in the biomedical pharmaceuticals industry may get the consideration of huge organizations who need to utilize it, accordingly it might get a bigger starting speculation.
In any case, picking coins that really tackle an issue is dependably the most ideal approach.....
crypto money promises to to be strong and legal money
Definitely see the potential and the whole millennial thing is totally true. Lots of my close friends now are asking me whats the easiest way, what to buy. As soon as ripple blew up I had roughly 6 new FB messages asking me how to buy ripple.
nice post! Thank you for sharing
2017 was the year of the Altcoins too :)
Thanks it will be messave
I love cryptocurrency.Much obliged for sharing it
I agree so!! I think Steem will be massive!
Thanks for the post. Looking forward to more post from you
Bitcoin busness is a good busness....your post is a Wonderful post.....I like your post.....Thanks for Shearing.
I like this video.
...just another perfect time to purchase bitcoin.
Lots of folks are yet to become accustomed to the rise and fall of crypto.
2017 saw a summarily good rise in bitcoin. 2018 will be a greater year for crypto.
I agree! When people start panic selling we more people need to panic buy :D
Please follow me @asifgoraya123
I am a crypto trader analyst and researcher.
get latest news about bitcoin altcoins realtime,
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I agree to your statement.
Hopefully stem to the moon
Thank you for the Info :)
There is one more coin that i suggest to Invest in.
It calls Siacoin. There will be a Fork for this coin at the end of Jan so its dificulty will rise to the moon and so his profitabilty.
Very recommended.
BTW, Do you mind to help me a little bit? Im helping new steemains with my upvotes to give them more SP fast as i can. Can you upvote for my posts in my blog?
Agree with you , Alt coins are going good with New Year !
2017 was best for steemit and hope this year will be great for all Altcoins !
Wish you crypto New Year 2018 !
Thank for sharing !
Good news on a down day... HODL is definitely the way to go. Especially with the new tax code that makes every single exchange of crypto a taxable event. In the crypto world you basically cannot sneeze without being taxed!
Nice post, upvote and resteem @jrcornel
2018 is off to a great start. So much growth in the crypto markets!
You brought good news, because recently there has been a sharp drop in the Crypto currency. Now the reason for the fall became clear, but I think the market for crypto currency will soon be bullish. All that remains for us is to be patient and wait. The year has just begun and it promises to be profitable for holders of crypto currency.
Thank you
2018 is the year of altcoins, people are beginning to understand how expensive it is to make a transaction with bitcoin, while other coins have les or no fees when making a transaction. the price of bitcoin is already to high, it's better to invest your money in altcoins that can give you a 100 -500% gain as fast as possible.
wow, amazing. it is really fantastic. keep posting such interesting and eyes catching stuff. Thank you.
Bitcoin is becoming unattractive because of high transaction fees and network congestions, these challenges negates the the transaction needs of users. I think an altcoin especially Steem can meet these challenges.
Please follow me @asifgoraya123
I am a crypto trader analyst and researcher.
get latest news about bitcoin altcoins realtime,
I am a noob steemian please help me to build some good audience to present my content i hope you will enjoy it.
See you all there.
Very nice! That's why I'm keeping as much altcoins I can get right now. I'm hoping one day they will go to the moon!
Thanks for that scientific pdiction
This 100%. I have some investors I am trying to bring into STEEM right now and they can't get their fiat money in. I signed up for a gemini account 3 weeks ago (seems better than coinbase) and they are still "verifying my identity".
This is exactly the reason GBTC trades at such a huge premium over BTC.
Yes. I tried to sign up for a Gemini account a few weeks back and I just so happened to live in one of the 8 states where they are not licensed yet. Lovely :)
I think the market right now is reacting to the crackdown in South Korea. If the hype surrounding South Korea's intention to ban crypto trading is just that, hype, then the market will bounce back big time. My prediction is that South Korea will eventually regulate the market, rather than wipe it out completely.
The change in tone seems odd from where they were a few weeks ago. However, I also thought the same about China and they came out and outright banned everything...
Let's hope South Korea doesn't follow in China's footsteps. But I do think China will get back in, once they sort out how they can regulate it because that's the communist way. South Korea is also a bit of a dictatorship so they also need to figure out how to regulate the market. Both of these countries are at the forefront of technological uptake so I can't see them opting out of the crypto world long term.
I sure hope he is right!! It would indeed be an epic year!
I fully agree! We're going to see a huge rise in alt coins due to the new possibilities they're presenting.
I also see many of my friends getting interested in this market, as younger people understand technology and have much more hope for a future that blockchain can provide.
The main thing I tell them is to research these coins and understand the projects and the aim of the developers. This is a huge space and it only makes sense to do a lot of research before investing in a project.
This is why I love Steemit so much! It's a beautiful product that works great and provides value to thousands of us. This is why it's the main place I'm investing at the moment.
Thanks for sharing!
Much love,
Bryan
I hope so, because i invested in some :)
I think once this bearish trend is over we will see a very significant spike that will last for the rest of the year.
Very much in agreement with you @jrcornel the world of cryptocurrencies is on the rise and of course choosing a currency is not random. I share the point of @lukebrn
I follow you. I really liked your information.
I'm quite bearish and I feel a collapse in Bitcoin is due this year (and other crypto currencies too). Why? Because of articles like this which only talk about crypto currencies as 'an investment': Not about what you can actually do with them. If they're not actually useful, people will eventually twig that this is a fad and get rid of them. Which is a shame because they are actually useful. But people need to use them rather than just hoarding them so they can get rich quick.
this is rocking
yead... how did youguess
looking forward to seeing the better days of Altcoins
I'm not sure why Lee would be focused on bitcoin at all. At what point is bitcoin just too clunky (high-priced)? Doubling your money in 2018 is great, but I've doubled my money in altcoins in the last month. Some of them tripled in that time. So who really cares that bitcoin will double in a year, and then, only after it recovers?
Now am happy with this post on bitcoin because have been getting all negative talk on it and much positive on EThereum and ripple. And i am convinced ok what lee said because by middle of 2018, crypticurrencies will be so high in value so its a good idea having them with its current price ans selling later on and sure am going in purchase of bitcoin. Thanks for this info.👏
2018 year of the alt! have been saying this for a long time now looks like it's coming true especially seing how ripple has just partnered with moneygram
greataricle , keep the good work