My Cryptocurrency Prediction
These are my thoughts today and they could change tomorrow, but when anyone asks me what's going on (with bitcoin or crypto's), I typically give this answer... I think Crypto prices are impacted by three major items (in no order): 1) Speculation, 2) Trust in the system and 3) Use Cases (or ways to use the currency). Below are a few predictions.
a) Bitcoin price may decrease for a short time or it may continue to go up. Either way, I expect it will continue to go up as long as new money is coming in. I've had construction workers ask me how to invest as well as dentists and bankers. We may still be very early in the price growth. On top of that, US corporations will soon have a more ways to invest in Bitcoin and/or Bitcoin futures, which will bring even more money in. And if merchant acceptance starts to take off (for this or any other currency), price should increase because more people will use the currency instead of a card or cash.
b) Bitcoin Cash has doubled since the fork, but there is a lot of promotion behind this product and its transaction fees are lower than Bitcoin. Also, pretty much anything that's built for Bitcoin (i.e. point of sale systems or miners) can easily be made to work with Bitcoin Cash. But more importantly (I think) is that Coinbase.com will soon support this currency, which will bring more money into it and should have a positive impact on price.
c) All other currencies...your guess is as good as mine. I wish I knew of a currency that will take off the way Ether, Bitcoin, Litcoin, Dash, Monero, Waves, Steem etc have taken off over the last few years, but it's all speculation. For me, I go back to the three drivers I believe impact the price long term (1) Speculation, 2) Trust in the system and 3) Use Cases (or ways to use the currency)) and see how a currency fits into that. BTW, I'm open to suggestions on the next big thing :)
Well, those are my thoughts. Feel free to agree, add to, or disagree with me because I'm sure I still have a lot to learn!
I agree for the most part with what you said. I am worried that even though a crypto has a great use case, with great speculation and great value...that the gov can just step in and say this is done and over.
If we let the crypto world play out the way it should and can....I think the world is going to be a WAY better place. Maybe I am naive though.
We'll see if governments can really regulate. They can probably regulate to keep money coming out of a cryptocurrency (i.e. exchange BTC for US Dollar), but they probably can't keep people from owning it and transacting with it or using it.