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RE: Why bitcoin is now fully charged for its next explosive move up

in #bitcoins7 years ago

How big do you estimate the overall possible market volume? Will all liquid assets move into crypto or maybe half? All of it would be some 8 trillion $ considering 1,000$ per head as average in liquid holdings. Of these hypothetical 8 tn $, Bitcoin has a share of 5% right now. If Bitcoin stays the market leader with 25-35% market share in 5 years from now, we can expect the price to go up 5 times the current value. Not bad if you have some of it now already^^

But we have to be vigilant. There is too much speculation without knowledge involved. I was shocked for example when I read that Steem Dollar is not a crypto at all but a fiat currency that can be created out of thin air without any expertise by those who can do it (=whales on Steemit) and also no limits for its creation. That is imo very concerning. I would say <1% of all Steemit users and holders of SBDs know about that. As soon as that bubble bursts, it might affect Steemit and the entire cryptomarket since the market cap of SBD is >45m $.

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People will continue to hold diversified portfolios of all kinds of assets. My nearer term target for crypto would be 1%. Hard to say where the price would be as adding $100of new money can increase the markrt cap be $1000.