Top 10 Cryptocurrencies are Tanking - Prediction of the Bitcoin Price in 2017 and 2018 | Hacked: Hacking Finance
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Top 10 Cryptocurrencies are Tanking – Prediction of the Bitcoin Price in 2017 and 2018

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Top 10 Cryptocurrencies are Tanking – Prediction of the Bitcoin Price in 2017 and 2018

Introduction

This article was posted on Saturday, 13:38, UTC.

The major cryptocurrencies like Bitcoin, Ethereum, Litecoin and Ripple are down by more than one to eight percent today:

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Source: coinmarketcap.com

I want to let you know what I think of the cryptocurrency market we are facing, as I’ve experienced what is happening previously (2014-2015).

Source: coinmarketcap.com

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Cryptocurrencies tend to operate in a triangle, where something sparks interest, media coverage, prices are rising, and everyone is “making money.” One could argue that the latest surge in bitcoin and ethereum price is driven by ICO-enthusiasm. The prices tend to drive sharply upwards until deposits are matched by withdrawals and “take profits”. I believe bitcoin hit that crucial target at $3000 per bitcoin, and I hate to say it, but if history will repeat itself, the bitcoin price, including other cryptocurrencies, might fall by 70 to 80 percent in the coming years (2017 and 2018). The hype seems to be over. ICO-scams are appearing, and you can expect negative media coverage going forward, demanding regulation.

Cryptocurrency investors are impatient, so when they do not see that the price is rising but standing still, they tend to get bored and anxious. This might lead to a selloff which creates more panic in the market, and then prices go down.

I want to prepare our Gold Members of such a scenario. Of course, I might be wrong, that in this case the price will keep rising to 1 million USD per bitcoin (lol), but my gut feeling tells me we are continuing down to at least $1000 per bitcoin within the coming years (let’s hope I’m wrong).

What does this mean for you?

You should not hold more funds in cryptocurrencies than you can afford to lose and still be happy. Do not bet everything on the magical cryptocurrency economy. Put more funds into ordinary assets like Gold, Silver, and even corporate bond funds as I have.

Next week, I’ll let you in on a little investment secret that I believe will be a killer in the coming years. And I’m going to buy more and more shares of the X in order to take a bigger part of X. I’m excited.

Have a good weekend all.

Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



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Jonas Borchgrevink

Jonas Borchgrevink

Founder of Hacked.com and CryptoCoinsNews

Comments
  • user

    AUTHOR Roberto

    Posted on 2:30 pm July 1, 2017.

    70 to 80 percent drop. This is an unrealistic article and I can’t believe it actually got published.

    • user

      AUTHOR gullyfoyle

      Posted on 3:51 pm July 1, 2017.

      Have you measured the bear from the last bubble?

      • user

        AUTHOR Roberto

        Posted on 4:12 pm July 1, 2017.

        I just think 70 to 80 percent is unrealistic. Maby 50.to.60. Wouldn’t you agree?

        • user

          AUTHOR gullyfoyle

          Posted on 4:27 pm July 1, 2017.

          I measured it @ approx 65% sometime ago, value lost so I suppose I agree- as 50% retracement is my personal target. I was just surprised by your reaction to the article, it seems entirely plausible.

          • user

            AUTHOR Roberto

            Posted on 4:47 pm July 1, 2017.

            Let’s just hope we are both wrong. Thank you for quick honest response. Have a great day. Any thoughts on max coin?

        • user

          AUTHOR gullyfoyle

          Posted on 5:46 pm July 1, 2017.

          Dunno about maxcoin, unless there is something special about it (AFAIK there is not and it’s a Max Keiser P&D, which he subsequently dumped himself, so I’m guessing there is still a strong or some community behind it) I’d trade it but not hold. Just my opinion, but I know next to nothing about it since 2014.

  • user

    AUTHOR juliengro

    Posted on 2:32 pm July 1, 2017.

    I believe you are 100 just.!!!
    I party is over until beginning middle 2018

  • user

    AUTHOR flogy4031

    Posted on 2:55 pm July 1, 2017.

    well, beside trading crypto-coins do not seolve yet any real world problem. So you might be right, but I believe the hype will go on a little longer (3000 USD/BTC is not a vey powerfull psichological level). I think we will se at least one more wave up, though I believe two waves up to the “magic” 10.000 USD/BTC are likely. If by then we can not use coins to actually do something they might take a BIG fall. And who knows, we might see large sacale adoption as currency by that time, or we will se another blockchain becoming dominant and with real world applications (ETH,LSK,maybe XRP)

  • user

    AUTHOR alphadreams

    Posted on 3:17 pm July 1, 2017.

    Even in Fibonacci pullbacks, 38.2%, 61.8% is standard, but 70.7% and 88.6% are common too. So it can happen with bitcoin too. Cryptos have be regularly pulling back 50% of just their bull runs, so as wild as “70-80” sounds, it is quite possible. This article is just asking people to use care as with any investment portfolio to diversify.

    Gold, for instance, was thought to continue to grow, and it may, but there are always pullbacks. As the asset grows… so too do the corrections. The percentages remain, but the dollar amount increases and you should use care. Especially if 70+ percent puts the price lower than your current average entry into the asset.

    I’ve attached a chart, where gold pulled back after breaking $1000 and was as high as $1035! Everyone was excited, there was still fear in the economy and gold was the safety. Then it pulled back 70% to $688 before a huge rally to $1920 range. It later pulled back 70% again to almost the previous high of $1035. I hope this illustrates how large these moves can be in assets that are not stocks/equities.

    https://www.tradingview.com/chart/XAUUSD/lFXnCM8Z-Gold-70-7-pullback/

  • user

    AUTHOR cryptopalevu

    Posted on 3:19 pm July 1, 2017.

    Jonas thanks for publishing this. As you know with the exchanges being backlogged for verification and such a new space, it is not so easy to make the conversion from Altcoins to Fiat… strategies on how to do that as well would be welcomed.

  • user

    AUTHOR cryptopalevu

    Posted on 3:44 pm July 1, 2017.

    Remember: the internet boom reached 3 trillion before crashing hard, and cryptocurrency market is at 100 billion.

    Also, as opposed to the stock market where stocks are sold to fiat, a lot of crypto is *reinvested* into more successful cryptos.

    Having said that, I realize that Bitcoin and Ethereum hold the vast majority of the $$ where as the internet stocks were much more spread out in wealth.

    My effort here is to consider all factors and make the right decision.

  • user

    AUTHOR visiondream3

    Posted on 4:07 pm July 1, 2017.

    I think during this bull run, many people got in at around $2000, so I think that figure may be a watershed moment. If they are frightened to hold on when the negative news kills bitcoin again, it will be worse.

  • user

    AUTHOR pradz

    Posted on 4:14 pm July 1, 2017.

    Thanks Jonas,
    For the article. Little bummed out by your views, but as with every problem I’m sure a buying opportunity is around the corner and I’m sure you and the Chartbusters will figure out where.

    “there something strange….

  • user

    AUTHOR Tommy

    Posted on 9:52 pm July 1, 2017.

    There’s the time to panic and screaming ;P guess all my alt’s just went in for a loong ride now. better just hold, then panic sell at 30% down. idk if they go 90% down, until the day i actually have to sell . (or loose them)

  • user

    AUTHOR wolfye82

    Posted on 8:43 am July 2, 2017.

    Hi Jonas, all. Interesting point of view and yes also a plausible scenario. One thing that should be taken in consideration is the investments that big companies like Microsoft, IBM, Accenture and also big Banks are making in blockchain technlogy (mostly ETH and XRP driven), investments that were not so common in the past…. So, my feeling is that the drop could be not so dramatic.

  • user

    AUTHOR Chris G

    Posted on 11:12 pm July 2, 2017.

    Thus far, Mate Cser has been spot on in terms of trading predictions. And this recent bubble is def. reminiscent of the 2014/2015 surge that brought so much attention to BTC. That said, obviously I wish I had held long-term positions in BTC when the price was around $400. The general consensus at this point seems to be 1. hold a long-term position, while 2. profit taking during the bubble. In terms of Ethereum, I’m dug in with about a $20k investment in mining equipment that I view as part of a long-term position. But big thanks to hacked.com and particularly Mate, whose advice has me at +$10k on cryptocurrencies at the moment … only risk what you can lose on this one!

  • user

    AUTHOR birmas

    Posted on 4:39 pm July 5, 2017.

    I went long on a bunch of alt coins that are currently stored with poloniex. What are your suggestions in a case like mine? Should I withdraw my coins to local wallets or leave them and wait for the bounce? Advice appreciated 🙂

    • user

      AUTHOR eriore

      Posted on 7:57 pm July 5, 2017.

      I would personally advise against leaving crypto you aren’t trading in an exchange. There is always the possibility they can get hacked and someone steal a ton of crypto, only store what you are trading on the exchanges and anything else you would like to hold on a local or hardware wallet.

  • user

    AUTHOR Mr. Anderson

    Posted on 3:32 am July 6, 2017.

    I strongly doubt this will happen especially in that time span. Perhaps when coin distribution runs out however I still think that is a reach because the price will be far too high by then. This month seems to have the best chance at seeing 1k with the proposals looming however many other positive influences are occurring across the globe simultaneously.

    Bitcoin is just now picking up steam and being regulated into normalcy by many governments. Let’s not forget that blockchain technology is secure by default (on the chain – primary vulns are endpoints and centralized infrastructure and gaps are closing), globally fault tolerant, enabling financial freedom from banks and gov corruption, disabling fraud and so much more. Currency was just the first application to be put on top of blockchain. Most of the FUD being flung is from those who stand to lose their way of life WHEN this becomes mainstream IMHO.

  • user

    AUTHOR godishere

    Posted on 3:15 am August 18, 2017.

    Lol gut feeling. You’ll miss out big time, the chart says it’s crossing $10,000 by the end of this year. Haha.

  • View Comments (21) ...
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