Will Bitcoin reach $38,000 in 2019? – Chip Smith
I keep seeing these questions in twitter, fb, and social media. I can tell you that increased media coverage of the FB Libra coin story has created lots of frenzy lately. While most of it has been negative, what people do not realize is that is has given lots of air time and coverage to crypto in general. What you have to remember is the average person on the street does not know what bitcoin is or what it does?
Almost everyone is becoming a “overnight bitcoin expert ” In this space now. Its a very sad thing to see, because its like the blind leading the blind into an abyss of emptiness and will no doubt lets others get caught up in the hype and hysteria — better known as FOMO . Instead of listen to hype you can read real solid crypto news and research analysis here.
I would really urge caution here, because I’m about to give you are lesson in history, because people are talking about all sorts of numbers for bitcoin I keep hearing $1,000,000 USD soon and we are barely past $10,000 USD.
I know that a lot of people lost money in BITCOIN because in 2017 they were told bitcoin was going to the moon by so called BITCOIN experts, and yet months later the price of bitcoin went down 80% and basically created panic in people, and others sold out and lost huge amounts of money. Do you want this to happen to you? That is why you need to think clearly and stop falling for all the hype out there, and ridiculous upside targets. Be smart, and do not give in to all the 1 minute experts out there on youtube and social media land.
Here are 4 Things you might be forgetting about crypto in mid 2019.
- bitcoin is driven by supply and demand.
- There will be real tightening of supply soon in cryptoland.
- Facebook stable coin has created real demand on the charts lately.
- Fears of trade problems in china has also boosted demand.
This is positive news going forward. But in no way does this mean we are going to the moon. Its much smarter to take this day by day because crypto is a very complicated topic and I would urge you to stay away from ridiculous or outlandish predictions when we are simply in a very delicate time for crypto and the stratosphere around cryptocurrencies globally right now.
Hope this helps. Just my two cents.
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Published at Mon, 22 Jul 2019 23:34:33 +0000
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