I came across this article that compared bitcoin to the early days of Amazon (97-99). If this is the case bitcoin is only at the start and you are going to see big things. Amazon today is just a little bigger than it was 20 years ago :p. The article also talks about how it was hard to predict the growth of the Amazon stocks at the early stages because it was a ground breaking company. I can order things and not have to put on pants? And you bring it to my door? And it's cheaper? What is this magic? If bitcoin is as revolutionary, or more so, than Amazon was at the time, then it is possible that we really are at the start of something big.
You have probably seen the articles from experts that bitcoin is a bubble or that is not going anywhere. The reason for this, I think, is that they are using older models off assessment for stocks. These are experts in their field and I am not taking anything away from them but when you have a new paradigm presented, the old ways of analyzing can only get you so far. You need to use some positive imagination to see what it can be which can be dangerous when you are risking money. There is also the problem that people think cryptocurrency does not have a function which, between perks and efficient global transactions, it clearly does. Not calculating this can lead to treat the coin as purely speculative and throw your math off.
Nothing is guaranteed and the risks are clear here (do not risk money you cannot lose), but there is a chance this really is the start of the cryptocurrency rush and you are going to see some big things in the near future.
Here is the article if you want to read it:
http://www.investopedia.com/news/bitcoin-looks-lot-early-amazon/
*my upvotes/rep disclaimer: https://steemit.com/steemit/@whatageek/my-steemit-account-where-i-stand-on-bots-self-votes-and-multiple-account
Actually, bitcoin is one of the easiest to predict among all. Even my 7 year old can predict bitcoin accurately without any charts and indicators. All she needs to do is say "Bitcoin goes higher next year".
For me even if it's been 7 years since the bitcoin exists this is still only the beginning. Watch google 7 years after their creation and today. The crypto is just beginning and will be applied to all sectors within 10 to 20 years
I'll take the risk. Thank you!
Bitcoin is new technology, a commodity, currency, decentralization and so much more...I don't think we have seen anything like this ever and should expect the rise to act like something we have never seen....bullish for a looooong time
I thought this article was about women in the jungle. XD
Well they grow to be strong as well :p
You can only use technical Analysis to predict it for limited time period
According to me only government policies hurts them else no body stops bitcoin..
Its future of new tech era
Every thing is now shifted or correlated eith technology
The market is so volatile. NOBODY and I mean NOBODY predicted where it would be today and I bet they won't know what it will be in 6 months. Too many factors involved. Informative post, thank you!
I think you cant compare them much, only as an idea, everything else is different and a little bit complicated. Now i think the price of btc will keep getting higher but i dont know for how long and the reason is technology. At this era it grows faster and faster and as we saw many cryptocoins show up with new,unique and different characteristics ( and with big companies behind, that they now started to understand the power of cryptocurrencies) so i think in general cryptocurrencies are too advanced to predict and the future will based a lot in them but bitcoin not so much, although it would be in the history books as the first cryptocoin and will be studied