In my experience in the crypto world there is one thing that often happens before I see crypto really start to take off.
Interest from people that had not been interested in crypto before.
Sometimes these people had briefly been interested but that was mostly simply because they wanted to make some money and not because they have any intrinsic interest in cryptocurrency.
Of course the same thing applies now. They just want to make a money but they're seeing opportunity. I agree with them.
Everything seems to me to be setting up for a bullish year.
I don't just mean a small trend upward from $8900 to $9300 at year's end either. I think there's a high possibility that we could hit something like $50,000.
In a few months time we will see the Bitcoin halving. No I do not think it is already priced in.
We've never really thought that far ahead before and I don't think we're thinking that far ahead now despite what you might read.
Not only that, all it takes is a small push for the public to take an interest in something like cryptocurrency. Any amount of public interest continues to help the push upward.
Although I shouldn't have to tell you that I'm not your financial advisor and blah blah blah.
Often times when Bitcoin starts to get on its run some of the old coins will follow.
Many of us here remember when steem hit $8. Most of us held because we have long been taught to hold.
That is one of the big sins that has been passed on to the small fish from the big fish. Hold your coins so that we can take profit.
Many of us again have waited in frustration for another bull run so that we two can take a little bit of profit.
If you've been invested in altcoins and you've been waiting for a bull run you're probably looking at a horribly empty bag.
I still can't recommend altcoins not even steem. Not at the moment. I do believe steem has potential to rise very far up especially after the information that Voice will not be on the EOS mainnet.
So what do I tell my friends when they ask me if I think it's a good idea to get involved with cryptocurrency right now?
I tell them that I think it's a good idea. I told him that I would get some Bitcoin and that I would get some Ether.
You have to understand that any sort of crypto purchase is gambling. This isn't like investing in mutual funds. It is like investing in direct stocks.
There's a chance that some of us will make a lot of money. There's a chance that some of us will lose a lot of money.
However, if you want to be in the game you've got to be willing to risk. Not everything mind you... But at least a little.
Thanks for reading.
I hope you have a nice day.