Crypto investors are in depression, and the sentiment for the entire space couldn’t be worse.
At the Miami Bitcoin conference in January, the celebration was on and the room was filled with ICO millionaires. People were quitting their jobs to become full-time traders…
Institutional money went from flooding into the space to sitting on the sidelines.
The real damage to the space is the ICOs, though, as most aren’t liquid and many have gone to zero.
This is why many investors are in depression: most of the hardcore, dedicated crypto investors sold their Bitcoin profits and went all-in on the altcoins, where they saw all of their profits completely vanish!
It’s why we’ve stuck with the big ones: Bitcoin, Litecoin, Ethereum, and our only blockchain stock suggestion, HIVE Blockchain Technologies.
Here’s the deal, though. It’s going to get worse in the near-term because this kind of run up with euphoria and then collapse is going to take a few months to sort itself out.
If you’re in the crypto space, you’re lucky though. With any other sector, it would take years to recover, but this entire crypto space has consistently shown to move at 10x the rate of previous tech innovations.
In his recent post at USFunds.com, the chairman of HIVE Blockchain Technologies, Frank Holmes, pointed out to me this past week just how fast Bitcoin is moving compared to what we’ve seen in the NASDAQ.
By the way, for those depressed about HIVE going from 70 cents to CAD$6.75 and back down to CAD$1.26, keep in mind that Amazon went down 91% at one point!
Amazon Inc. (NASDAQ: AMZN) traded for $107.33 in December of 1999. By March of 2001, it was trading for $10. Today, it trades for about $1,500 (up 14,900%).
FutureMoneyTrends.com is forecasting that the worst will be behind us by July and that the best bargains will be in the early summer of 2018.
One final comment for today’s letter.
It’s never been a better time to buy gold and silver. I think the market is making a huge mistake in ignoring the significance of the new Chinese gold-backed oil futures contract denominated in yuan.
Be ready for a huge upside surprise this year in gold, in our opinion.
Projections relating to gross mining margins outlined above are subject to the assumptions set out therein, including future cryptocurrency prices, which are based upon management’s best estimates but are inherently speculative and there is no guarantee that such assumptions or estimates will prove to be correct.
This work is based on public filings, current events, interviews, corporate press releases and what we’ve learned as financial journalists. It may contain errors and you shouldn’t make any investment decision based solely on what you read here. It’s your money and your responsibility. The information herein is not intended to be personal legal or investment advice and may not be appropriate or applicable for all readers. If personal advice is needed, the services of a qualified legal, investment or tax professional should be sought.
Never base any decision off of our advertorials. Future Money Trends stock profiles are intended to be stock ideas, NOT recommendations. The ideas we present are high risk and you can lose your entire investment, we are not stock pickers, market timers, investment advisers, and you should not base any investment decision off our website, emails, videos, or anything we publish. Please do your own research before investing. It is crucial that you at least look at current SEC filings and read the latest press releases. Information contained in this profile was extracted from current documents filed with the SEC, the company web site and other publicly available sources deemed reliable. Never base any investment decision from information contained in our website or emails or any or our publications. Our report is not intended to be, nor should it be construed as an offer to buy or sell, or a solicitation of an offer to buy or sell securities, or as a recommendation to purchase anything. This publication may provide the addresses or contain hyperlinks to websites; we disclaim any responsibility for the content of any such other websites. We are long HIVE Blockchain Technologies and have received options directly from the company and have been paid two hundred and fifty thousand Canadian dollars for three years of digital marketing paid for directly by the company. Please use our site as a place to get ideas. Enjoy our videos and news analysis, but never make an investment decision off of anything we say. Please review our entire disclaimer at FutureMoneyTrends.com