Crypto Market Update 3

Here is my estimated price target for Bitcoin in the short term ($9,000) - https://www.newsbtc.com/2018/07/29/bitcoin-price-weekly-analysis-btc-usd-could-test-9000/

If you haven’t noticed most cryptos are highly correlated with the movements of Bitcoin right now. So wherever Bitcoin goes, until something changes, I imagine most other cryptos will go. There is an opportunity to margin trade Bitcoin right now. The way it was explained to me is basically, you could buy small cryptos with what is called in equities as high Beta. Or you could just buy a bigger coin with a lower Beta, take on some leverage and goose your returns with lower risk. Keep in mind, margin trading is incredibly risky.



Some pundits including Tone Vays are still saying that we will be going to $5,000 per Bitcoin before the next full on bull market. Right now, I believe that is false. I think we have a chance to break out and gain some positive momentum right now. I actually heard Tone speak in person in New Haven about a month ago and learned a great deal from his presentation.

In my opinion, Institutions are opening up to Crypto right now. They will need to make some major internal changes to accommodate the differences that crypto offers but I believe its happening. You can’t dismiss the staying power after December 2017. All of those pundits stated that crypto will be dead. Unfortunately, that has not happened and a lot of people at the top of the financial food chain are starting to change their tune.

We may see Trillions enter the market in the next few years based on high net worth individuals, governments and open minded banks allocating a small fraction of their assets to the crypto asset class. This will in turn boost the value to prices we have never seen before. It’s a very exciting time to be involved in crypto.

What we may see next is a few coins taking the entire market share. According to my research Ethereum may be stalling as there are several competitors cropping up that will offer tokenized investment opportunities. For example, Bitcoin Cash is developing a colored coin system and or tokens on OMNI. Other coins are working on offering tokens as well or expanding their platforms.

Tetras Capital has a bearish outlook on Ethereum right now. You can read the full Medium article here - https://medium.com/@tetrascapital/ether-eth-bearish-thesis-the-flippening-of-market-irrationality-8633e70ab498

In other news, I’m reading more and more on Twitter about why I fell in love with Bitcoin and Crypto in the first place. This is giving me positive reassurance as to what everyone is trying to accomplish here. On a side note, I just acquired a domain name http://www.BTCUSD.co/. If anyone is interested in purchasing this domain from me, please reach out.

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