WHERE SHOULD THE CRYPTOCURRENCY PRICE BE TODAY!!!!
So like any market the slow consistent rise of cryptocurrency could be seen prior to November 2017, as interest grew the market exploded over November and particularly December, peaking in January and then volatility since dropping by 100's of billions of dollars.
Probably for many who got in during that time causing a lot of stress due to the slide of thier investments and probably pulling thier money.
So with little bit of research this will give you an indicator of where the price should be. This graph was taken today on the 8th Feb 2018, we hit the right point a few days back at around 280 Billion USD marketcap for crypto. For crypto to be sustainable the trend of growth needs to be sustainable. Please see my graph below, the red line is taking a sustainable trend growth from back before the super blow out in crypto.
Even at my suggested trend since October the market cap would increase by 25% each month, that is amazing. Since October if the market cap was at 280 Billion USD today then that would be a doubling of market cap. No stock portfolio or bonds or investment comes close to this in a 5 MONTH PERIOD, so over a year your getting $3 for every $1 you put in.
Again that is probably unsustainable but realistically today, the market cap is a bit high. love to hear you thoughts.
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25% per month is unsustainable. Using compound interest you would turn $1000 into over $200000 in 2 years.
The crazy increases over December caught me a little too. By around Christmas I was listening to the little voice in the back of my mind that was telling me the crypto market was going Full Tulip. Exchanges were falling over themselves to sign up new members without being able to support them. Useless zero value coins were getting pumped from the bottom 100 of the coinmarketcap list up near the top. The frenzy over PACcoin caused Cryptopia to suspend markets for DOGE/PAC and LTC/PAC. Everybody who was buying PACcoin new it was worthless. Everybody got onboard hoping to make the Moon. No doubt, some made a lot of money from it. Some made a little. Some broke even. And some are still HODLing after buying at ATH.
I don't want to sound like a bad podcast presenter, but I always try to look at the reasons for the existence of a coin before considering investing. Read the whitepaper. Spend some time reading through the Telegram or Reddit (Although both of these are now filled with FUD and/or Shill).
Dude, I love your enthusiasm for crypto and the realistic perspective you have on the current valuations. I got real keen on Bitcoin when I first got in. I looked at the Alts with disgust thinking they were polluting the good name of Bitcoin. Over time, I saw flaws in Bitcoin. Slow transactions. Expensive transactions fees. Watched it become useless for day to day transactions. I did a lot of research on alternatives and saw a bright future for Bitcoin Cash. I was prepared to pull out of Bitcoin and into BCash until Roger Ver flipped off his interviewer in the now famous youtube clip and I then realised that the rules are better (Still some problems) but it's being run by chumps.
I've since got into XRP, BTS, XVG (Wonder where it would have gone had they made their December 31st deadline. Tech is working now and it is solid but the interest moved on), NEO, XLM and some others. No PACcoin. I've stayed away from Etherium because it has some scaling issues that will happer its growth. e.g. Crypto Kitties.
This is my first post on here. I should spend some time and write an introduction. Keep carrying the crypto flame my friend.
very well said thx
The market DID grow entirely too fast considering the fundamentals, and I think we could be in an extended bear market for several months if too many new people got burned. I know that I lost a LOT of money on the recent correction and it did leave a bad taste in my mouth.
it was very exciting but realistically in hindsight it was unsustainable, if people leave the market it may be a good thing just to get some consistency and get rid of the scammers. All the best for you future trades and thanks very much for the comment.
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Thought I would just give another update to the global crypto market cap, although I thought it would need to come back down (and still think it will) the attached graph is showing a trend upward.
We are in a phase of no one wants to miss out at the moment but we will see how it is in a couple of months. Still too volatile.
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