Guide to estimate the price of crytocurrencies

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MichelleJones
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Joined: Wed Apr 17, 2019 11:48 am

Guide to estimate the price of crytocurrencies

Post by MichelleJones » Wed Jun 12, 2019 9:53 am

Bitcoin – Expect a rise over the next year that will surpass the current low. Also expect bumps as the SEC and other federal agencies around the world begin regulating the buying and selling of cryptocurrencies in very real ways. Now that banks are in on the joke they’re going to want to reduce risk. Therefore, the bitcoin will become digital gold, a staid, boring and volatility proof safe haven for speculators. Although all but unusable as a real currency, it’s good enough for what we need it to do and we also can expect quantum computing hardware to change the face of the oldest and most familiar cryptocurrency.
Ethereum – Ethereum could sustain another few thousand dollars on its price as long as Vitalik Buterin, the creator, doesn’t throw too much cold water on it. Like a remorseful Victor Frankenstein, Buterin tends to make amazing things and then denigrate them online, a sort of self-flagellation that is actually quite useful in a space full of froth and outright lies. Ethereum is the closest we’ve come to a useful cryptocurrency, but it is still the Raspberry Pi of distributed computing — it’s a useful and clever hack that makes it easy to experiment but no one has quite replaced the old systems with new distributed data stores or applications. In short, it’s a really exciting technology, but nobody knows what to do with it.
Where will the price go? It will hover around $1,000 and possibly go as high as $1,500 this year, but this is a principled tech project and not a store of value.
Altcoins – One of the signs of a bubble is when average people make statements like “I couldn’t afford a Bitcoin so I bought a Litecoin.” This is exactly what I’ve heard multiple times from multiple people and it’s akin to saying “I couldn’t buy hamburger so I bought a pound of sawdust instead. I think the kids will eat it, right?” Play at your own risk. Altcoins are a very useful low-risk play for many, and if you create an algorithm — say to sell when the asset hits a certain level — then you could make a nice profit. Further, most altcoins will not disappear overnight. I would honestly recommend playing with Ethereum instead of altcoins, but if you’re dead set on it, then by all means, enjoy.
Tokens – This is where cryptocurrency gets interesting. Tokens require research, education and a deep understanding of technology to truly assess. Many of the tokens I’ve seen are true crapshoots and are used primarily as pump and dump vehicles. I won’t name names, but the rule of thumb is that if you’re buying a token on an open market then you’ve probably already missed out. The value of the token sale as of January 2018 is to allow crypto whales to turn a few cent per token investment into a 100X return. While many founders talk about the magic of their product and the power of their team, token sales are quite simply vehicles to turn 4 cents into 20 cents into a dollar. Multiply that by millions of tokens and you see the draw.
The answer is simple: find a few projects you like and lurk in their message boards. Assess if the team is competent and figure out how to get in very, very early. Also expect your money to disappear into a rat hole in a few months or years. There are no sure things, and tokens are far too bleeding-edge a technology to assess sanely.
You are reading this post because you are looking to maintain confirmation bias in a confusing space. That’s fine. I’ve spoken to enough crypto-heads to know that nobody knows anything right now and that collusion and dirty dealings are the rule of the day. Therefore, it’s up to folks like us to slowly buy surely begin to understand just what’s going on and, perhaps, profit from it. At the very least we’ll all get a new Linux of Value when we’re all done.
By the way I often go to https://academy.mtbit.com/ to read about Technical Analyst and Trading tips

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