Bitcoin reached a new high of $4300 during the past 24 hours. During this week of new highs, have you guys noticed something unusual going on in the cryptocurrency space or is just me? Well then, I will say it here. Most of the popular alt-coins have actually been heading downwards or either remain flat. Typically we would expect these coins to move higher with the Bitcoin controversy out of the way. You have groups from different areas that are now saying that the market is being carefully manipulated. You will hear another group say that more people are just jumping into Bitcoin and ignoring the other alt coins with respect to volume. And finally you will hear another group say that prices are stable, providing more of an entry point for hedge funds and other financial institutions. So let me know what you guys think. It is definitely interesting seeing Bitcoin go higher each day while much of these alt-coins either lose their value or stay relatively flat. And well I do not like to sound like a conspiracy theorists, but something fishy is going on in this market.
At this point, if Bitcoin were to take a $1000 point drop at any moment, then the other coins could topple as well and head further to bear market territory relatively quickly. So for everyone investing in Bitcoin and cryptocurrencies, just be careful. If we were to look and understand this current cryptocurrency industry, but more particular the people that are involved, you and me would be considered innovators that are investing into this space right now.
Whether you are investing in Bitcoin or crypto currencies, maintaining a YouTube channel, or simply just paying attention to what is going on, then you are an innovator. This crypto currency mania has not even reached 1% of the general public's interest. Once it reaches between 1 to 3 percent, then you will hear some crazy things going on in this space. I will go off what Clif High would call it, as a period of innovation for a small group of people at this junction of time. And for folks who do not know Clif High, he comes up with monthly analysis on cryptocurrencies and some other weird stuff. His cryptocurrency stuff I care about because the guy can move markets, the other info he covers on different topics, I generally don’t see eye to eye with. But he’s definitely sought upon when talking about these various alt-coins.
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Anything is possible, I've been saying that in these times, one thing is certain, the Dollar is becoming worthless and it's buying power going down every week.
But we can trade it for gold, silver and crypto currency.
We know Gold and Silver is a must, especially with countries buying it, now that I hear them accepting crypto, make me believe either they will help boost them or they will come out with a gold backed crypto of their own. Which actually one has I think it's from Dubai.
Love Cliff High, you make some interesting thoughts, so all I can say is deversify, invest little by little and watch the markets carefully.