I have been telling Berkens that I think that eventually Gold and Bitcoin will be priced at the same level. So that means that bitcoin $1250-$1300 is on my horizon. When? Well, I think bitcoin will be going down as we approach April 15th and tax time. I see no reason for it to go up after that and so I see it declining for the remainder of 2019.
I have been out of bitcoin for over a year. Way before the BIG crash. It was a perfect storm in late 2017. Bitcoin got caught up in Christmas, and we saw a phenomenon. Things like that don't often repeat itself. But we all witnessed something extraordinary.
There was still demand for bitcoin for Valentine's Day 2018. Even for graduation time 2018. How do I know this stuff?? I just do. There is n question. It's just an invisible phenomenon that can be seen when you have a trained eye of what to look for. Some think BIG buys drive up prices when it may be quite the contrary. One person buying 1000 coins may not even move the needle. 1000 people buying 1 coin each can send the price to the moon, even if the price is hollow. That's just the way it works. The increase came from SMALL buyers. Guess what?? The small buyers are all gone and the big buyers are on to the next big thing and it ain't bitcoin or any crypto coins. They have their own stable
But that's all over now. Bitcoin for Christmas 2018? NOPE! That was a fluke in 2017 and won't even be a thought for 2019. We all witnessed something unique. That's why studying business history is key to YOUR success! It's the onramp to the next big thing. Don't ask what the next big thing is, DISCOVER IT!!!!!
I watch bitcoin "Climb Lower"every time there is an upward spike. That upward spike usually dissipates and then loses ground. Not good!
Bitcoin has a place and a use. But the frenzy is over, and I don't see it coming back unless we have WW3 or there is some significant instability. As a currency, it will stay, but I don't believe it will ever be $20,000 again. I don't even see $10,000. I don't even see $5000. We watched a phenomenon, and now that is just part of history, the history of
May go down in history with tulips. The demand is down and I just don't see a bright future. There was a moment and people made fortunes. Moments don't last forever. It was real and you had to participate and take a risk to make $$$. But IMHO, that opportunity is over. And as far as other coins, good luck! Just another money grab. There is always room for Coke and Pepsi. Hertz and Avis. Nike and Addidas. Apple and Microsoft. Study business and there are always 2 great rivals. Rarely, but sometimes a 3rd or 4th. Ford and Chevy. Mercedes and BMW. Toyota and Nissan.
Consolidation usually eats up the smaller and the weaker. Of course, things can change. But look at Venezuela. That would be a perfect place for bitcoin and a boom. But does not seem to be happening. Stay tuned. But I believe Gold and Bitcoin will eventually be priced the same. They both represent something similar. However gold has more uses, but bitcoin will be easier to spend. They are the same to me, but things can change. Governments and currencies can collapse. Bitcoin is a monetary instrument that is the single biggest threat to governments and countries. So I still the importance, just don't see the value because we witnessed a stampede. A Frenzy. It was cool and great and fun to watch! Best thing since the Pet Rock. It was the Hula-Hoop of finance. Hula-hoops are still around, but the frenzy ended 60 years ago.