Top 10 Cryptocurrencies are Tanking – Prediction of the Bitcoin Price in 2017 and 2018
The major cryptocurrencies like Bitcoin, Ethereum, Litecoin and Ripple are down by more than one to eight percent today:
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).
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.