![]() Join Forbes crypto experts Steven Ehrlich and Michael del Castillo on Tuesday, January 19 at 2PM EST for a live webcast where they’ll discuss what's in store for bitcoin and other crypto assets in the year ahead.Ĭlem Chambers is the CEO of private investors website and author of 101 Ways to Pick Stock Market Winners and Trading Cryptocurrencies: A Beginner’s Guide. If it is there at all, BTC and ETH’s upside is now bounded, while in “decentralized finance” the moon is still to be had for many of the tokens. That is where I’ve gone and as soon as the main storm passes that is where I’ll be acquiring tokens, whatever the price of bitcoin and ether might be at the time. Meanwhile I now expect bitcoin to start to flag and to descend below $20,000 where I will probably start to buy it slowly again towards 2024 and the next halvening.Įven if BTC regains its high and plateaus at say $60,000, something I find very unlikely, the upside is in DeFi where there will be a carnival of incredible opportunities to make multiples on your investments. Ethereum does not owe its future to bitcoin anymore. The joint destiny of bitcoin and ether is going to part company over the next few months because while bitcoin is gold, Ethereum is a platform, the core brand and engineering for “decentralized apps”-a giant technological wave about to sweep the globe. If you want to try and play that game it’s there to be had, but for me my trading nerves have gone with the brown in my hair. BTC played out last time, and you can see the ether lag:īitcvoin vs Ethereum in the last peak Credit: ADVFN I took that route last week but it was simply gambling and I sobered up in time to miss out on getting kicked in the teeth, although as I write ether is holding up pretty well as might be expected in the short term. Worried but passionate bitcoiners will likely flip into ether in the belief there is upside there and temporary safety from a bitcoin crash. Ether could run on up for a few weeks after the top of bitcoin as it did in the last bubble. It was sad to sell out and I reentered ether the next day but sold out on Sunday after a most fortunate decision to give up on being stretched on the rack by the wild volatility. Bitcoin will not compete with that scale in the next few months so $200,000 a coin is a wildly unlikely destination on any relevant timescale. ![]() M1 (cash) is just $7 trillion and was only $4 trillion before Covid. Sadly I don’t think that is in the cards. That aside, as I write BTC is $35,000, up from yesterday’s $30,000 and a bit.īelievers will say, this is what bitcoin does it is now going up to $200,000. Yugoslav bank note with many, many zeros Credit: Clem Chambers ![]()
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