Bitcoin repeats itself..Or maybe it doesn't..
So... many people have varying opinions on Bitcoin and the whole cryptocurrency market in general. Some say long, others say short, maybe its on a bull run, maybe its a bull trap. Its all relative to what your think is a good return rate during some period of time. If Bitcoin mimics what it did back in late 2013 and early 2014 then its value should drop some similar percentage from back then. This would be about ~85% (Note: I am not including the data from the Feb 9/10 flash crash within the 85% decrease). Compared to its 20k price tag an ~85% drop means BTC hits about ~3k, which is why many people are expecting 3-4k as a range. That is it and it is a done deal get ready for a massacre. But many think it will not hit the 3-4k because there is too much mainstream news regarding BTC. Which brings me to speculation, and a lot of it... All of crypto thus far is highly speculative. There are very few coins if any that are actually currently in use for practical applications. I definitely don't think any of this cryptocurrency is going away, however we all know many, and boy do I mean many..., of these coins are going to fail. Their called shitcoins for a reason! So now for the speculative piece. The cryptomarket this year will flourish, not now, but more likely towards the second half of the year. And here's why (again this is my take and yes it is speculation with some facts thrown in); This year many exchanges (Coinbase for one..) are allowing or working with banks to provide many different assets (ETF's, Stocks - in the cases of GBTC and BTSC, and Futures contracts). This means money will roll in. It won't be right away but it will. But here's the BIGGEST problem with the market right now: BITCOIN. Bitcoin is the problem.. somehow, even though it is unintentional, when BTC goes down it takes ALL of the other coins with it. When BTC goes up it dries up all of the Alts and then they only seem to flourish when people cash out of BTC and go into these other coins. Coins are not yet independent of each other when it comes to price. I am very bullish on BTC and the whole market in general but I think until exchanges can offer alts/fiat pairs for at least the top 50 coins or any coin over 250mln market cap this won't change. So now what.. Like I said earlier: " Its all relative to what your think is a good return rate during some period of time". If people want quick money, BTC is NOT the answer, alts and shitcoins are :). This year or next year, no one knows when, but at some point there will be a coin that (like last year) went up 1,000,000% + increase. Thats right 1mln+ percent increase (both XVG, and NANO(rebranded from Raiblocks). This means you are getting a 10,000x return on your investment. That's fantastic! But rare... However the chances of hitting it are better than most think. If you put $5 into every single coin that comes out onto the market which as of writing this is 1543 different coins then you would need $7715. Lets round to 8k just because. If any 1 of them hits 1mln % increase then your $5 investment becomes $5 * 10,000 = $50,000. Wow.. A profit of 42k.. more than 5x your initial investment! But most investors take pride in retaining wealth when they have already created it. Most investors want high rewards and no risk. They wouldn't trust random alts or shitcoins or would consider it too much work for a chance at the lottery. They prefer safe coins (BTC, ETH, LTC, XRP, etc) that can still make 10-100% gains easy! This is why I am bullish on BTC, Investors are waiting and itching to get into crypto. Many older investors don't understand crypto however all of them understand how markets and TA work. Buy low, sell high. Common concept. Many banks are waiting for BTC to be more accessible and considered safe by SEC/CFCT regulations and even more are waiting to be able to invest directly in the alts without having to go through BTC. This year we will see a huge market cap increase and more company partnerships.
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