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Bitcoin Price Will Hit $20,000 Before Tanking: Financial Expert


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https://www.cryptocoinsnews.com/bitcoin-price-will-hit-20000-before-tanking-financial-expert/

 

Quote

Spencer acknowledged that cryptocurrencies are here to stay, but said bitcoin is a bubble.

In July, Spencer said he prefers Ripple and Ethereum to bitcoin and that he might introduce NEX trading platforms for cryptocurrencies. The problem with any bubble, he said, is that you don’t know if it’s going to double before it halves.

“At some point, it’s going to go a hell of a long way back down,” he said.

 

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With the road-map for a future of Futures markets in Crypto this is possible, but its also possible the network effect triumphs and Bitcoin continues to surge or, the network effect diminishes with negative regulatory news and Bitcoin falls into multiple Bull traps along the way and yet surge in value, or Bitcoin touches another landmark resistance level only to trade sideways or range bound due to bull exhaustion or risk aversion of the general community. Miners are another factor that would play a huge role in the future considering they are not as decentralized as Bitcoin community would wish them to be. Massive Miner pools seem to me are like OPEC to Bitcoin investors.

 

 

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8 minutes ago, Lumpy said:

Bitcoin will crash... The question is: is it going to drive the entire market down or some digital assets will stand out (while BTC is crashing)...?

BTC is a gateway to all alts at the moment so I'd say the entire market. We've seen this numerous time already.

However, I don't think it will crash massively, not next year at least. I think the bubble will start to pop around 2019. A lot of ICOs will get absolutely destroyed next year by regulations though.. and rightly so. But I do expect BTC to hit 50k. What do I know though. 

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11 minutes ago, Lumpy said:

Bitcoin will crash... The question is: is it going to drive the entire market down or some digital assets will stand out (while BTC is crashing)...?

When it does, if it does, only the Fittest will Survive. Because the Market will not be whiped out. It will IMO be cryptos maturing.
There will be a lot of Blood on the Streets for sure. As always.

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My opinion... Every year up until now has been the year of BTC.  With mainstream attention, loads of new coins (some of which can do what BTC can, only better), and a crazy high value, I think new money is going to come in strong and short the hell out of BTC.  There is just as much money to be made on the way down as on the way up, you just have to be on the winning side.  That new money will then move to better (faster?, safer?, more transparent?, more anonymous?, connected to the banking system!?) coins. 2018 could be the year crypto really takes off.

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40 minutes ago, Danny said:

Bitcoin will crash. That's what they said in 2010.

You can look at it on a grand timescale like your doing, or you can stop mocking people and realize most people havent purely hodled bitcoin since 2010.  Also, most people didnt get into bitcoin in 2010. In fact most new people got into bitcoin during the peak hype cycles at the top ($800-$1200 range).  It then dropped for 2 years straight about 80%...People lost a LOT of money. 

 

That reminds me of ripple....I think most new people got in at the peak of the 40 cent hype cycle.  People have since lost a lot of money in this long XRP/BTC bear market phase as well as the extremely long accumulation sideways phase of XRP/USDT.

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I'm going to fill my future, giant XRP shaped swimming pool with the tears and failed dreams of Bitcoin investors when that bubble bursts.  

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15 minutes ago, cuber said:

@tartankiwi so the three segments are pool bar, hot tub and chicks with bikinis section. Sounds freakin’ awesome!

OMG I can't believe I forgot the bikini girls.... :shock:    Shout bro ! 

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