Bitcoin Bull - More Pain Ahead, Prediction on whether the worst is still to come for Crypto???

Bitcoin is in largest & longest correction in years. At the time Bitcoin was at 1000 dollars in Nov’13 & 85% from then until Jan 2015. As it today, Bitcoin falls 75% from its all-time high in Dec’17 ie, 20,000 dollars & officially being in a correction for 190 days.

Bitcoin price is pretty good right now. We can talk about some reasons. But specifically why prices might go lower & we can talk about the fund redemption cycle. So we go back to the summer 2017 when crypto prices were boom in. There were 200, may be 300 new crypto hedge funds formed. So in the summer 2017, the formation of all of these funds will now here in the summer 2018, a lot of them are heading towards the end of the one year locker. That means all these funds are now looking at a down 50% here in the sense “Hey, I want to redeem out of that fund”. That means for selling on behalf of all these new crypto funds that have popped up. I think that could take the prices artificially lower & again I think that the prices of something like Bitcoin is very attractive at these levels.

A lot of ICO’s we have seen over the past years are still very over-valued. But when I am looking something like Bitcoin, I am very constructive. That’s because it has the mine share. Most people know about it. It has the distribution. So we think about all of the countries around the world almost every major country has a fear on ramp that people can use there USD, British Pounds etc. go ahead & buy some Bitcoin. No other coins have that kind of distribution. In addition, Bitcoin is also the safest from a regular trade perspective. So all would not sure which coins might be declares securities by the authority.

Bitcoin & Ethereum are the only coins in the safe sides of that funds right now. And Bitcoin is the only coin that demonstrates its real use case, we think about Bitcoin’s ability to move the value around the world. The story is actually happening today, people are using for that exact purpose. It’s not like people are here in about how Uber is gonna change the transportation, haven’t seen yet. People are riding in the cars today with Bitcoin. So the future of Bitcoin is safe in my view.

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