I’ve had enough of being bombarded with FUD, from so-called ‘experts’ who don’t really ‘get’ Bitcoin. If I want predictions about the future of crypto, I’ll ask an expert in the blockchain industry. Fortunately I don’t have to, as CNBC already asked.
But First … This!
It’s easy to feel down when it’s cold, wet, and grey outside. Oh … and your investment lost over two-thirds of its value in the last six weeks. But we’ve all been through this before. Actually, some of you haven’t, and it’s you that I wanted a word with.
If you bought into Bitcoin, hoping to make an easy buck, then you were barking up the wrong tree. That ridiculous bubble just before Christmas; that was your fault! And nobody will feel sorry for you because you lost your nerve and your money.
Ahem. Now that’s dealt with, let’s continue.
The Sun Will Break Through These Clouds
I believe that we have already seen the worst of the burst, and that the steadying of the price since yesterday was the turning point. Take a look at the one year chart but ignore all the silliness of the last three months and draw a line straight to now. Looks good doesn’t it?
And I’m not the only one seeing sunshine on the horizon. Just check out these positive outlooks.
Who Said What?
Thomas Glucksmann of the GateCoin exchange suggested that regulatory recognition, combined with technological enhancements like the Lightning Network, could push crypto to all new highs this year, suggesting:
There is no reason why we couldn’t see bitcoin pushing $50,000 by December.
Outlier Ventures is a venture capital firm specialising in blockchain investments. CEO Jamie Burke said:
…after February the market will likely go on a bull run comparative if not greater than last year potentially reaching the trillion-dollar mark…
However, he did caution that this may be followed by a realignment as the market becomes mature.
Other commentators have suggested that the coins to watch are those with a utility and value outside of pure speculation. Mick Sherman, CEO of Hercules Tech, a company working with blockchain and big data, speculated:
…assets with a working platform and a clear-cut reason for requiring both a blockchain and their own token, are more likely to appreciate in value this year.
So … HODL, Don’t SODL
Everything is back on track. Bitcoin isn’t a short-term investment, as many are now finding out to their own chagrin. If we didn’t have these roller coasters, then we wouldn’t need to Hold On for Dear Life … but where would the fun in that be?
So lets continue onwards and upwards. But forget the moon. We’re following Elon’s Tesla all the way to Mars!
Do you think the worst for Bitcoin has passed? Will it reach $50,000 by the end of 2018? Let us know in the comments below.
Images courtesy of PublicDomainPictures, Coinmarketcap, and Bitcoinist archives.