I just read an article from one of my financial newsletter I subscribe to. There is a big investor raising $500B*** for a crypto hedge fund. His upper long term target for Bitcoin is $400,000.
***I made a large mistake in my comment. It's not $500B but $500M. Sorry about that.
I believe that there is huge money that will pour into Bitcoin and the crypto space as a whole, but not until they've absolutely wrecked all the weak hands and new, unskilled day and swing traders. They're out to take every dime for themselves, I mean, why wouldn't they? It's a win/win for big, institutional money because they drain the market for profits now, and when they finally induce the pump, they bring in a new batch of FOMO investors who scream about "Lambos" and "mooning" and shit like that. My strategy, although laughed at by so-called newbie day and swing traders, is to invest in the project(s) I believe will be around in 5 years time, then ignore the swings and go live my life to the fullest. I'm basically poor by U.S. standards, but I still managed to save enough money to live most of the year in Bali Indonesia, hitting up beautiful beaches a few times per weak, spending less than $200 (USD) on rent per month and less than $3 to fill the tank of my brand new Honda Beat Scooter. work hard, live hard, play harder. Good luck everyone.
Well said. Congrats on your dream living. I'm buying only the tokens that have awesome teams behind them, with platform businesses and that are likely to be around in 5 years. I'm not really trading but holding them and buying more of my favorites when I'm gifted with them being on sale. I follow haejin and others to see when the opportunities will present themselves so I don't buy at poor times. There are some incredible companies that are creating big opportunities and/or solving massive problems.
you should check out @yallapappi who's living the dream like you in Thailand!
Are you living the dream of being a steemit scammer?
That hedge fund won't come in with $500 Bil but will come with $2.5 Bil leveraged to buy Bitcoin. This is the liquidity effect I've been talking about. There is not enough Bitcoins for these Hedgies to come waddling in to buy billions worth. They'll have to bid up the price.
Blah Blah Blah... keep talking out of your ass like you know what your talking about. This guy is TOTAL FRAUD!!! SOUTH KOREA is after him for TAX EVASION!!!
I completely agree that liquidity will be the reason price will be moving up. To be clear, the fund is not just for Bitcoin. It will focus on all cryptos. The point I was making is simply that there is massive upside ahead when the money starts flowing. When a <$300B market starts to see hundreds of billions from institutional investors, family offices, and pensions, we will get a big uptrend and retail investors will join the party.