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Reading through an article recently, I just got to know that Warren Buffett has not had eyes for cryptocurrency. Maybe I will be doing a much deeper research to cover this. Nevertheless, we ALL know Warren doesn't like distraction when investing.
It has been the key to his long term success; escaping bubbles. It has really paid off, retiring a billionaire is a dream come true.
Anyway, I am just imagining where Berkshire Hathaway would have been had they worked on such a principle as Microstrategy. You know this firm had such firepower. Maybe Warren was still fixing his eyes on his Apple share.
Can we say because a king of the financial markets like Warren gave deaf ears to crypto currency it made it a fad? A little throwback from Warren; ‘I don't invest in assets I do not understand’. Maybe! Just maybe, this was the reason.
Adding to that, we saw all the quick market spikes that went on in the crypto space. Warren's investment strategy is steadily! Steadily!! abandoning ship to invest in a new tech market was something worth considering anyway. It was against so many of his disciplinary odds.
You can't doubt the volatileness of crypto, many got wrecked in the process. Many dust coins have disappeared while others that promise life changing results now operate like stablecoins.
Ok, their prices are now pegged to dust. So we come back to ask, does this make this entire crypto thing a bubble? Maybe you should take another closer look at the TOP list prices. I have been a little off the market for months now.
My focus has really been on Hive and yes LEO too. I won't be talking much on Bitcoin so it won't seem that's the only message available as hopes for this space. Have you seen where BNB has climbed to? Maybe we should take a much closer look.
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Looking at the graph above we are talking of an almost 1K price mark of BNB. We all know where it started from; it was at the few cents price mark as of 2017 before wilding to over $670 dollar during the 2021 bull market.
Ok, we all saw the record holding market shaking that followed suit, something that took even Bitcoin from a peak price to unimaginable lows. It is now a story easier said than experienced. Coming back to BNB, we are talking of over 9300% YTD.
Which stock market has given such a yield in 8 years? This is why the question of can this be a bubble still comes to mind. Crypto market has defied many market odds and strategy; some that old time economists and investors will quickly throw a red flag as a fad.
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Speaking of it being a fad, this industry has migrated from the hand of just common investors to big timers like Wall Street. Yes, big firms are taking a good seat in this industry.
The way blockchain, crypto, web3 and AI are just aligning shows this tech was already a readymade waiting for just its perfect era to manifest.
Maybe Wall Street is not convincing you enough, how about the government. world power countries like the US have added Bitcoin into its treasuries.
It is something that sends more green flag signals. Who knows where Bitcoin may be trading before the end of next year. You know one of the cryptos that have surprised me in the top ten is XPR. I was never a fan of its rigid operation. Maybe all those lawsuits held back some necessary green candles.
To conclude, let me add, my focus is how all this will spread more into the altcoins industry. The idea is how crypto can really showcase itself as part of blockchain tech rather than just green candles. The future of altcoins is more dependent on use cases. I feel that is why it has been difficult for Dogecoin to do much. Many are still skeptical that Mr. Elon will draw attention to it in the near future.
Till then, my attention also fixes on where Hive and Leo token can be in the next half a decade. As I earlier said, it will boil down to utility offered. Crypto is continuing to make more sense as more understanding is entering into the old timers of the olden markets.
Can we see this industry struggling with staggering trades like FOREX in the next decade or two? Don't doubt much, who even thought the crypto market would weigh up to $4 trillion.