Morning Folks!!
If you don't LEARN from history you WILL repeat history. Last year at this very moment Bitcoin was the hottest gift and commodity on the planet. Fast Forward to this year and it is as cold as it was hot. This morning dropping to a bit over $3600.
The bloom is off the rose and if you think Bitcoin is bad, just imagine how all the other coins are doing. OUCH!!
Is it over? It may be. Personally I think it may end up around the same price as gold at around $1200. So there is a long way to the bottom. Crisis is the only thing that may bring bitcoin back. Other than crisis, the demand is just not there.
So what do you think? Is Bitcoin done? Is Crypto done? Where will Bitcoin be trading at next Christmas?
I cashed in all my Bitcoin at the end of last year and early this year. I started buying in 2013. I won't be investing in it again.
Rick Schwartz
JJG
As they say “Buy Low and Sell High” but it is easier said than done since otherwise we would all be rich.
Ibrahim Khan
I think it is not done yet. This is great time to buy but cautiously. You can still invest small amount to try luck.
John Tester
Appears to suggest the old “80 / 20” rule.
When 80% of the people think one way, the cliff is near.
Talk about history repeating….
Remember
Cabbage Patch Dolls,
Pet Rock,
Jim Beam booze bottles,
USA state quarters,
and thousands of other man made mfg collectibles and gifts, which soon become yard sale items.
The old “Bait and Switch”
Dave
Thank god, now everyone can forget crypto and get back to domaining.
Michael Anthony Castello
Until Google is regulated to give up control of the URL, domaining will be in a coma.
John
Thinking recently how one of the most truly criminal things about Google in their conscious desire to decimate and destroy domain names and the url is how they often do not honor when people actually search for a url deliberately. Sometimes they do, but very often they do not. That really calls for regulation of this monopoly. But since they are in bed with the PTB and it’s about control over everything beyond just money and profit…
steve brady
Right now better to spend $75,000 on a new Cadillac Escalade than 75K on Bitcoin, when next year half the value disappears, you keep the Cadillac.
Bobby
Great question. Looking at a bottom in 2020. Most such corrections take 3 years after a blow-off top move like btc experienced late last year. What happens after 3 years??? Well, it could base for another 5, 10, or 20 years thereafter.
Crypto is not done. But we are NOT there yet in cryptocurrencies any time soon.
Same thing like the “new economy” internet stocks back in 2000 blowing up. It just wasn’t time yet. The internet infrastructure still needed to be built out and the devices were not in the picture yet (smartphones, smart-pads, wireless, etc.)
“You are looking at the basic requirement of a generational shift. As the older generation dies out, money will become completely digital, newspapers will see their last print, and paper books may be found only in a museum. Things always change – but not as fast as people think. The DOT.COM Bubble was all about the rage of how the internet would replace stores. The prices got ahead of the reality. Eventually, the technology changes the system. But it always takes time.”
Vinod R
Nice observations Bobby. I too feel the same.
Michael Anthony Castello
Crypto is a great idea that has too many terminal problems hanging around its neck. That tipping point may simply be the cost of maintaining its security(the mining sector which charges a fee to maintain crypto-currency’s viability). Once the cost overtakes the return, that could speed up crypto’s decline..
Donny M
The start of the recession has already started in the US IMO. Oils demand is very low probably end up in 30s in 3 months. Its always the first indicator of a global recession.
Bitcoin is still worth more than top 50 coins after that could go drop to 500-1000 in 3 months. which is still amazing considering where it started. But really only 1 or 2 can be standing at end of day. Just like .com bottom line people are selling because they need the money and see whats coming in 2019.
Interest rates going higher will halt everything and make things worse.
All for domains security tokens,blockchain and foldable phones for 2019.
Better deals for domain names coming for 2019:)
Donny
Sigma
@Donny
Great insights. Well said.
domain guy
Bitcoin was the market leader and has now dropped. Probably to a lower price in the near future. However bitcoin introduced the world to the block chain which in the next ten years will change everything. Eventually the blockchain will be backed by securities, real estate or some type of national/international public ledger…could be coming out of Russia.
As for Bobby”s comment oil has seen its best days. World is changing to eliminate fossil fuels as climate change will soon be factored into commercial transactions.
There will be regulation for social media fb, twitter and maybe Google. Bing was the big hope for a Goggle competitor.
Mark Thorpe
Bitcoin will live on, at what price going forward, who knows. 99% of all other cryptocurrencies will die-off. Bitcoin forking killed it’s chance of being great and making a difference in the financial world. Greed killed Bitcoin!
Most Bitcoin pumpers have already moved onto other things to scam people with. But there are still some “Lambo” Bitcoin and ICO pumpers around though, looking to steal your money. Pump and dump you all the way to being broke.
The rest of the Bitcoin pumpers are in hiding for now, including some well known domainers.
Jose
In my few years of work as a beginner in the stock market of Barcelona (Spain) learn to distrust very novel products and uncertain future as presented by entrepreneurs and with their fantastic words the bad way for the long term.
I do not invest in bitcoin normally if I do not have confidence I do not, I do not put my money to a possible unforeseen decline, after a few large increases, is what has happened in this year 2018 and now what’s the future with bitcoin, rest of cryptocurrency.
I invest in domains(.com)in bitcoin, there, crypto, litecoin, and not wait for more for sale, and also make offer and broker to negotiate, will be next December at http://www.cax.com, also Broker possible to say wait for http://namescon.com/
That’s if I can confirm next week at http://www.uniregistry.com/market Buy Now five premium domain 273.global, 490.global, 523.global, 705.global, 901.global all for sale $ 100,000
Happy Day. Jose
BullS
WTF is bitshi*&^coins….sorry I don’t carry coins anymore.
Logan
I’ve been shorting BTC, ETH, ETC, MRP, and USDT for a month and am enjoying the profitable ride so far. My hypothesis is SHORT HODL because, all along, these cryptocurrencies have had zero intrinsic value. It’s been overhyped just like tulips. But, the risk of over-emotional cryptocurrency enthusiasts propping up the prices for a few more months remains as it continues to slowly deflate. There will likely be a final capitulation in 2019 – with Tether fraud and arrests/prosecutions as the catalyst? – that will kill off most cryptocurrencies into pennies per unit for good, though Bitcoin will likely live on between $100 USD and $500 USD, just because.
A completely different kind of cryptocurrency – likely gold-backed in some way and maybe government issued too to differentiate itself as a product against the free floating USD, EUR, JPY, etc. fiats – will likely arise by 2021 and actually have real, hard value behind its virtuality. And that will make all the difference that libertarians and cryptocurrency enthusiasts have been seeking in this post-Nixon Shock, money printing world.
Snoopy
It is very different to the dot com boom because the actual technology has very limited usage. Very few people are buying or selling things with bitcoin, the benefits are not particularly clear unless you are selling something shady or illegal.
I think Bitcoin will live on (at much lower prices than today) but it is closer to the Dutch Tulip craze then it is to the dot com crash.
Crypto domain sales will collapse, these companies are going to go bust at a fast rate and fundraising will become extremely difficult.
Steve B
I think of cryptocurrencies like the new gtlds. The only ones hyping over it are the investors, not the actual end-users.