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BITCOIN & Predictions

Discussion in 'Investing and Trading' started by James Fend, Nov 8, 2017.

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  1. James Fend
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    James Fend Silver Contributor FASTLANE INSIDER Speedway Pass

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    Hey Fastlaners,
    As Bitcoin is slowly becoming the real deal. I wanted to give Bitcoin it's own thread containing just long-term & short-term predictions & any big crypto news to help any others who's trading, hodling, etc. a place to throw in your predictions & any actions you plan on taking.

    I see the current stage of Bitcoin & crypto as the new Napster & Limewire. Industry bigs (middle-men) will do all they can to fight it & shut it down, but they will soon find out - You can't beat the under-lying ideals & world-changing tech. It will carry on & win out in other forms because the market has experienced the benefits and the market always wins (it will even beat out government regulations).

    Bitcoin is in the experienced the benefits stage. As more and more adopt to use Bitcoin as a form of payment (even if the sellers offering to take Btc as payment are valuing on speculative price/trading); the fact remains: They are still using Bitcoin as currency. It is being used as the real deal of exchange between goods & money.

    Predictions Nov 8, 2017:
    A fork titled B2X was recently cancelled (or "suspended") by their own backers & creators. This is going to give Btc a big bull-run for the next week or so to ~$9,000.

    Once it hits this; if the bull-run slows down; a market correction drop of ~20-30% will hit around early or mid December. This will be a short-lived correction though as many are waiting on the sideline (who haven't jumped in the game) for this drop to happen and ready to buy into Bitcoin.

    With or without this market correction happening; I strongly believe Btc will at least flirt with $10k before the year is over with.

    My actions: I am going to Hodl until I see about a ~15% drop then going to sell half of my coins to later re-buy in once it begins climbing back from the drop. Then Hodl, Hodl, Hodl.
     
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  2. TKDTyler
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    TKDTyler Silver Contributor Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass

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    You can already see a bunch of the money leaving BTC and heading towards ETH and Altcoins. No more free coins for new investors.

    I transfered my BTC over to ETH and will sell the ETH peak/BTC dip after the next few days
     
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  3. James Fend
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    James Fend Silver Contributor FASTLANE INSIDER Speedway Pass

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    @TKDTyler - Ah yes, Btc will definitely take a short dip due to "no new coins".. I do think the amount of money that will be pouring into Bitcoin due to increased confidence over the week will fight this dip. Mainly because there was so many new investors scared off by the 2X fork & just waiting to see what would happen first before they bought in.
     
  4. C-Jay
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    I speak on exactly zero authority, but I think this latest meteoric rise in BTC is bound to regress a bit, probably right down back to $5500 or so. I'm not complaining as it's made me some serious (unrealized) gains, but I feel it's growth has been disproportionate with the whole fork-mania trend lately.

    ETH is having issues at $300, but it's consistency is remarkable. I think the money will start to pour into ETH in Q1 18. Wouldn't be surprised to see $1000 ether by April.

    Then again, I have no real reason for choosing these predictions. Wake me up in five years when ETH is $6000 a coin so I can retire.
     
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  5. Fraf88
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    Fraf88 New Contributor

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    Hi Guys,

    I am newbie about cryptocurrencies.
    Do you suggest any book or forum to understand well this argument ?

    Thanks
     
  6. baemes
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    baemes Wantreprenuer FASTLANE INSIDER

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    idk what it's worth, but i listened to a podcast last week and Charlie Shrem (some guy in that famous bitcoin documentary) stated that if just 1% of money in gold went to bitcoin, one btc would be worth $1m.
     
  7. James Fend
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    James Fend Silver Contributor FASTLANE INSIDER Speedway Pass

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    The real test is to see what the Asian countries are going to do as they are waking up now.
    Bitcoin held it's value in the ~$7200 range. Interesting to see how it held it's value & at the same time Ethereum sitting at $313 (up ~$21) from this morning. Which to me; I think the new money is coming in..

    Either way; some big money is headed into Btc from some Wallstreet players here in the next months anyways.. Still going to hold strong on my current strategy.
     
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  8. James Fend
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    James Fend Silver Contributor FASTLANE INSIDER Speedway Pass

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    Possibly.. Eth is due for a rise especially as it's tech is strong. Even Btc sat flat-lined for months before it went into it's spike growths.

    The best way to learn? Create a Coinbase account & buy $20-30 worth of Btc. No better way of learning than actually doing. Then use Google every single time you have a question pop up in your head while doing.

    I am pretty optimistic on Btc, but not quite $1M. But who knows.. I think before that happens; one or two other coins (not yet made) will rise up against it. Bitcoin to me right now is like Napster and Limewire; they will eventually go away due to limited tech (speaking in like decade of years) & not being able to adapt with changes (like regulation, etc. etc. similar to how digital music's life adapted & has matured), but what they leave in the world before they go will transform Money entirely in the globe. The new "coins" that will rise are the ones that adapt & go through the same difficulties that Bitcoin will face (example: your Spotify, Apple musics, etc.)
     
  9. letter9
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    letter9 Contributor

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    Anybody here thinks that bitoin is big bubble? And that it's not fast lane?

    Are you building business? Are you providing value?

    All my slow lane friends keep talking about it. Often it's a sign to stay off.
     
  10. Yoda
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    Yoda Gold Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    I'm a big fan of diversity, just not right now.

    Capture.PNG
     
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  11. MarekvBeek
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    Totally agree!

    Don't think any predictions are very accurate, as no one really knows what direction the price will move.



    "You know what a fugazi is?"

    Does this mean I have to stay out of it? No.

    There is a lot of money to be made, which can be used in different areas of your life (for example helping others).

    Trading (a skill) can be used to help others learn how to trade as well.

    @Yoda, I like how you diversify your portfolio!
     
  12. ksc23
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  13. MJ DeMarco
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    MJ DeMarco Raving Lunatic Staff Member Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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  14. TKDTyler
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    Bitcoin as a bubble? Probably, but bubbles can last a long time.

    Cryptocurrent as a bubble? No, it's definitely here to stay. There are far too many upsides even at the current state of technology; it will only progress and improve. Some people believe Bitcoin is going to be the gold of the crypto world, but it doesn't have any intrinsic value other than the perceived value of hedge funds and high profile investors buying in.

    In all aspects, Eth should take over BTC at some point, but nobody knows how long that will be or if another technology will emerge and leave them both in the dust.

    Bubbles are a terrific opportunity to create mass wealth in the span of a short time. It is fastlane in the sense that your money is working for your as you sleep. Although you cannot control the market, you control how you trade. It is a very volatile market, but one where there is consistently very high upside and downsides. It is just another vehicle towards freedom and another opportunity for those that take action.
     
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  15. James Fend
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    James Fend Silver Contributor FASTLANE INSIDER Speedway Pass

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    I think you're getting the two mixed. You're comparing "what makes something Fastlane" to a "blockchain tech/financial currency"... that's like comparing a Horse to an Elephant; they both are four legged mammals and comprised of cells, but vastly different.

    You can have 'one with the other', and also 'one without the other.'

    Bubble. Definitely inflated, but not a bubble imo (and it will get it's correction). The volatility is scary, yes and unlike anything else the world has seen, but I wouldn't confuse volatility with "bubble crash". It's simply adjusting it's over or under-inflated value to the "correct" place, not losing value.

    Fastlane? It could be. It's just like stocks, it depends on what you do with it. There is more than just "trading". You could build apps around Eth, or services and businesses around Bitcoin. It has spawned hundreds of multi-million dollar companies all serving the crypto space. Especially those selling the "shovels" and "jeans" to the miners, as such did Levi's did to the goldrush miners.

    Haha, right. Isn't that what real Gold is?
     
    Last edited: Nov 8, 2017
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  16. James Fend
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    James Fend Silver Contributor FASTLANE INSIDER Speedway Pass

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    I would like to add this to the thread.. I meant the thread as a place to discuss predictions of Bitcoin to help or raise awareness in a time where some real things in the world are changing in a big way. If you think it's a bubble, feel free to go into detail why you think so, and why/what will cause the bubble to burst?

    Here's the thing: In order to give valid reasons for Bitcoin being a bubble; you have to dig into what Bitcoin is, how it operates, how it's created, how it's maintained, etc. You can't get this from bits and pieces you hear on CNBC or websites or friends..

    Once you do dig, like me (because I was once very cautious on Btc), you will be very impressed at how the whole system works.. and you'll see the points of argument you had about it being bubble turn more into points that reflect 'inflated pricing'.

    Now; there is a fine area that you want to stay in where you aren't "too deep into the tech & full blown Bitcoin fanatic" and then "my opinion and understanding of Btc is purely on bits and chunks of what I randomly hear or run across".. but somewhere in between. Because if you are in either, you have some serious blind spots.

    Not saying everybody will, but most people that I know who have given some research into how Bitcoin works generally turn into or have an Optimistic stance on Bitcoin, blockchain, and everything between. And most of these people would agree "Yes, Btc can get over-inflated" but it's the real deal, it's reached critical mass, and at it's current state - it is not a bubble.

    Now; that is not to say that 5-10 years down the road; it could turn into one. But currently; bubble. No.

    But this thread isn't here to try to convince you into Bitcoin. It's for people already progressed into the movement... I could spend my time trying to convince a 9-5 is wasting precious life to someone, or I could find others already adopted into the Fastlane mentality and have life-changing, world-changing discussions.
     
    Last edited: Nov 8, 2017
  17. mike24601
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    mike24601 Consumption Bear Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    I was up until recently solidly against investing in crypto, but I am quickly beginning to see huge value as I learn more. Plus there are multiple coins other than BTC that can still be bought cheap and may or may not experience an explosive rise in value over the next few years. I'll probably come in very soon at about 10% of my total portfolio and enjoy the ride wherever it takes me.
     
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  18. lewj24
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    I would say bitcoin is in a huge bubble. Now I haven't researched this in depth or read the gold thread but all of the signs are there in my opinion. Most people buying bitcoin aren't buying because, "Wow blockchain technology and cryptocurrencies are so valuable/useful/helpful." They are buying because, "Wow have you seen how much the price has risen? I'm getting in on this!" #Bubble

    Even if it might actually be valuable I feel that almost all of the people buying are trying to make a quick buck creating the inflated price. Yes it may have some legitimate value but not $7,000 worth of value (per coin). #GonnaPop

    1 year ago Bitcoin was $600 per coin. Now its $7000 per coin. That is a 1167% increase in 1 year. #YouWillLoseAllYourMoney
     
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  19. mike24601
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    That's the biggest problem as I see it. So many unsteady hands holding the purse on this one. Not an investment for those lacking balls, that's for sure, but the sharks will always be there to buy the dip when the majority of investors crap their pants.
     
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  20. Vigilante
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    What exchange do you buy and sell on?
     
  21. Vigilante
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  22. James Fend
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    James Fend Silver Contributor FASTLANE INSIDER Speedway Pass

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    I answered this on the Eth thread as well, but Coinbase is best place to start to get a handle on the basics. Small purchase first, then move money over into Gdax.com (owned & ran by Coinbase as well and fully integrated) and then buy your big purchase there to save fees (1.5% versus .0025%).
     
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  23. James Fend
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    James Fend Silver Contributor FASTLANE INSIDER Speedway Pass

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    I agree 100% with ya'll two with the only exception being of @lewj24 defining it as a soon-to-implode bubble. I think a 30-40% correction which occurs often would fit what you said better. A bubble to me is when something implodes because there was absolutely nothing in value to begin with. Bitcoin's vast network of miners & it's infrastructure alone is worth ~$7000 in my opinion. I think it's a fair price. Nothing in value to me would be home loans based on fudged numbers or vc money pouring into me-too ideas with terrible execution (equivalent to creating & selling a private label Garlic Press on Amazon). Bitcoin, when viewed deep, fits neither.

    I also think the crazy increase this past year doesn't say bubble either. To me it says, early majority adoption is on the front edge. With a world-changing tech like this; crazy rises are only crazy because it's comparing to what's already out in the world now... but you can't compare it to the current world.
     
  24. James Fend
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    James Fend Silver Contributor FASTLANE INSIDER Speedway Pass

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    Btw; thanks to a quick short today; Bitcoin paid entirely for my Fastlane Summit ticket & I still have the same amount of bitcoin I started with.
     
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  25. James Fend
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    James Fend Silver Contributor FASTLANE INSIDER Speedway Pass

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    Agreed lol. I hope no one thinks I'm an expert in Btc (cause nobody is!!..) I'm just merely trying to get folks already with Btc into conversation so other Fastlaners can be exposed to the actual aspects of trading, hodling, etc. if they choose.
     
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