Fundstrat's Tom Lee has set up a "Bitcoin Misery Index" to help investors come up with the right time to make their purchase.
Recently, that index has been at an all-time low, and Lee believes that it might indicate $20,000 mid 2018 and $25,000 by the end of the year.
Lee has had a lot of success as a Bitcoin trader and accurately predicted the rally over $10,000 in 2017.
Lee also points out that its really uncommon to be this miserable owning bitcoin, suggesting that it has only happened a few times before. So there you go. Either it's over and out for Bitcoin..or we're going up. Which one would you bet your money on? I know I've put all my money where my mouth is :)
You know what that means #HODLgang!
Seems to me most bitcoiners have lost track of why cryptocurrency was invented in the first place: to replace fiat! This obsession with fiat exchange rates is very unhealthy. Bitcoin is not a stock, but everyone seems to be treating it like one!
Well..how many realistically do you think shares that idea? Perhaps 10-20% of the space? The hardcore ancaps and possibly some real anarchists and pirates and freedomers. But most probably don't care. Most are probably satisfied as long as Bitcoin serves as a gateway to Cryptos - which is not cryptos - but blockchain based startups.
I dunno..I feel like there are two sides to this now. The people who are mainly in it on an ideological level (usually the bitcoin maximalists) and those who are in it to invest. Sure, there might be some hybrids - like me, who are more plastic and adapt to whatever - but generally I think most people are in this space to make money. If that means making money on blockchain based startups through crypto currency funding, and Bitcoin or Litecoin or ETH serves as the gateway..So be it.
In short..ONE thing is allowing blockchain technology and robotization of the Internet to be funded through crypto currencies..a VERY different thing is to roll over and let a p2p digital currency kill all the banks and eventually make governments obsolete.
Now, the first thing is guaranteed to happen. The other might happen - in time as a consequence of number one. I Believe blockchain could be some kind of inevitable government-killer. Like Pandoras Box. Once it's open, once the technology started to exist, there is no going back. And it will slowly take over absolutely everything.
I wouldnt worry too much about Bitcoin..No matter what happens there will never be more than 21 million of them. And it will always be the first. It will at best be universal currency..at worst a digital treasure. Make sure you always own one. Always own ONE Bitcoin. No matter what happens it will be worth an enormous amount of money in 20-30-50 years time. It will be something very rare that only a few people have. Having one BTC will be like owning one moonstone or a viking sword. Just something very rare.
I think we're in a decisive time with all the news this year it's, if the price goes over 20k or I do not know, but think it's entirely dependent on what governments around is doing.
inn a perfect world we could control it ourselves, but it does not work unless we need some basic rules. Here I want to thank bitconnect a think a lot of governments wake up now and burst them in to some progress.
bitcone It's the first coin and always going and exists, and a think it's going to be worth a lot of money in 30 years and most goverments is going to have a reserve it just as they have gold now.
but here is the problem with most crypto owners we are so used to things going fast we have to slow it dovn a bit to make the world to catch then the Real test can start
Agree. Prices were somewhat ahead of actual useability of most cryptos. But this has just begun. I don't care if its going to rocket this summer or next summer. All I know is that it will. People are barely scratching the surface yet..99,99% of all people have not a clue what most crypto currencies are trying to do (that they are start ups using cryptos as funding) the mainstream media has not caught up on that yet.
I am ready for BTC $25,000... Steem $20... and ETH $5,000.
Let's make it happen people. :) If I had more cash I would back up the truck here. The FUD will end any day now.
That is what we are expecting to happen.If bitcoin price goes up then steem and sbd price also will go up.Let's hope for the best.Thank's for sharing such useful post.
Nice. Let's see what happens!
:)
A very heavy year. In particular the bitcoin. Since the beginning of 2018 until now there has been no significant increase. Hope at least as late last year.
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Buy the dip! When the masses and media (including J.Oliver) start to ramp up fear, consider taking a position or adding to it.