The crypto blood bath and 2018 predictions.

Apr 2017
Texas
#1
So as we are all witnessing, the crypto markets are experiencing a massive correction. There are many potential factors as to why this is happening. Some of these may include: panic sales, banker manipulation via futures trading, banks denying service for buying crypto, mass sell off for people taking profits, Korean based FUD, Bitconnect's exit scam, etc. It's not clear yet which is the dominant factor, but collectively, all these factors can be easily attributed to this market we are currently witnessing. However, this is not the first time we've had a down market, and it won't be the last. Some of the factors have changed because you have so much new money that entered the space only recently. With new money comes new issues. One, much of the new money are new investors that are not as familiar with the crypto space, and thus are not seasoned in this market and are likely coming from a traditional market mindset where any bad bit of news can tank a stock or mutual fund which can almost go to zero, never to be heard from again. However, for those of us who have been in the market much longer have seen Bitcoin drop in value by more than 50% in a 24 hour period, only to watch it regain that 50% and more within a 2 week period. Another factor, is institutional money entering this space. Not only are they coming from a traditional market background, behavior intact, but they are coming in with incredible amounts of money, and can act as whales, effecting the market in greater and more obvious ways, which can also panic new investors to panic sell. A cocktail for disaster. To all the newbies in this space I would give this advice: if you're in this marketplace to make a quick buck or you dream of lambos on the moon, although some of you may be able to accomplish this, I would suggest making looking for the next Bitconnect, and trying your luck there rather than being in the overall market space. Crypto is not about a get rich quick scheme. It is about changing the future of commerce and regaining control of our ability to control the fruits of our labors. The banks are going to continue their war on crypto and it will get more aggressive, but for those of you who believe in crypto and what it symbolizes (economic autonomy and freedom) remember that nothing good comes easy. Freedom is never given, it is won. Make no mistake, this is a war and if we want to win we need to keep level heads, hold on to what we believe in, and demand the kind of economic system that we want rather than being stuck with the archaic system we currently are forced to use. That's why it is called "fiat." Fiat means "legal" tender, which means that's all the government will accept or recognize. We can change that if we declare economic freedom and fight for the kind of future that is possible and within our grasp.

But anyway, a few predictions for this market. It is possible that we could see Bitcoin drop as low as between $6500-$8000 before it begins to stabilize or make a move back up. This will depend on how deep the FUD and panic sales will go. If you look at the current prices, we are getting back around the ranges we were only a couple of months ago before futures started and before a lot of the institutional money got in. So who is left in the market? The same people who got the market up to those valuations in the first place. If there was any inflated values it was the temporary institutional money that came in over the last couple of months. And those people leave as quickly as they come in. And don't worry, they'll be back. Ethereum could drop as low as between $550-$700, and we could see Litecoin as low as between $70-$120; all before the market begins to significantly rebound. It may not fall this low, we will see over the next few days to 2 weeks, but one thing is for sure, people love a bargain, so once the price stabilizes at a new low, the money will start to pour back in, bringing us back to the $700bln market cap range. So, remember, if you are in this space for the right reasons, you are already holding for the long term. If you are an institutional investor with bad intensions, honestly, we don't want or need you. We were doing just fine without you so do us all a favor and go back to your traditional market. If you are a newbie and have no idea what's going on and are nervous or scared, relax; hold onto your coins, even if you think you bought it too high. This market will not only survive but come back stronger than before. I think we will see a surge come back into this market during early to late spring that will continue into the summer. If exchange demand is any indication of the world's interest in crypto then we are all in for a nice surprise when the exchange infrastructure ever catches up with the demand (eg Coinbase signing up 100k per day, Binance taking in 250k new users per day). The amount of money that will pour into this market beginning this year will dwarf any amount of money lost in this current down market. So, if you're nervous, don't be. Log off your computer and go for a jog, or go re-read a book you haven't read in a while. Come back in a few weeks and see how the market has changed. Either way, the core community who see this as a economic paradigm shift are going nowhere, so the rest of you can come and join us, or go back and try your luck in Vegas or make your 1% annual gain in the stock market; either way this revolution will happen with or without you.
 
#2
Well Said!!!! you post was informative and equal comforting so many ppl ask me how do you get rich in crypto and me well I'm still new but I'm holding onto what i have maybe buying some more on the dip and then i guess i might just check back in a few months see how were going! but i believe in the cause and thats a lot more than i can say to all these get rich quick yuppies!!
 
#3
I feel like there should have been some music in behind that like an inspirational speech in a blockbuster film lol, well said glad I came on and read it, I've been buying every week haven't sold a thing bought another $30 of litecoin this morning every payday week I'm putting $30 into the market until it rises again
 
#4
I feel like there should have been some music in behind that like an inspirational speech in a blockbuster film lol, well said glad I came on and read it, I've been buying every week haven't sold a thing bought another $30 of litecoin this morning every payday week I'm putting $30 into the market until it rises again
I agree! Definitely moving speech! I to am not selling anything and putting in a little every paycheck! Crypto currency, tokens, technology not going away...only going to improve, and develop.

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#5
I've put alot of faith in ECA great team got to know them on discord great vision for the future coin up 63% in 24 hours giving me a bit of light at the end of the tunnel glad I never folded to the FUD
 
#6
I feel like there should have been some music in behind that like an inspirational speech in a blockbuster film lol, well said glad I came on and read it, I've been buying every week haven't sold a thing bought another $30 of litecoin this morning every payday week I'm putting $30 into the market until it rises again
I agree! Definitely moving speech! I to am not selling anything and putting in a little every paycheck! Crypto currency, tokens, technology not going away...only going to improve, and develop.

Sent from my XT1585 using Tapatalk
Just loaded up on the key (TKY) just hit kucoin for less than I could crowd sale.

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#8
An old saying holds that markets are ruled by either greed or fear. Greed once governed cryptocurrencies. The price of Bitcoin, the best-known, rose from about $900 in December 2016 to $19,000 a year later. Recently, fear has been in charge. Bitcoin’s price has fallen back to around $7,000; the prices of other cryptocurrencies, which followed it on the way up, have collapsed, too. (Source: The Economist). No one knows where prices will go from here. Calling the bottom in a speculative mania is as foolish as calling the top. It is particularly hard with cryptocurrencies because, there is no sensible way to reach any particular valuation.
Bitcoin was created to become an online version of cash but a decade on, it is barely used for its intended purpose. Users must wrestle with complicated software and give up all the consumer protections they are used to. With few uses to anchor their value, cryptocurrencies have become a focus for speculation. As things stand there is little reason to think that cryptocurrencies will remain more than an overcomplicated, untrustworthy casino.
 
#10
Since 2010, in most of the years, there had been an annual uptrend starting in October and ending right before Christmas. Right now we have the end of October, small trading volume and volatility of BTC, which by its fame and market dominance can change the market fully by itself.
But once the cryptocurrencies are regulated and big investment companies will feel safe to invest, then we will see trading volume and prices of many cryptos to skyrocket.
 

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