- Joined
- Apr 2, 2013
- Sythe Gold
- 1,113
- Messages
- 2,278
This is not good. I believe that with all the news, ads, youtubers, and new start ups in the crypto section, BTC is being looked at as a cash grab. Everyone and their mother wants a piece of the pie because they think they will double their profits over night. So much new and old money is pumping into BTC right now, and I think that most of this money is to get the forked coin and try to make a quick buck. $900 over night basically, and doesn't seem like it's stopping today, but I see a huge correction coming soon.
The problem with crypto is that there are so many other use cases for others like ETH, LTC, Ripple, etc, but 99% of everyone who knows what BTC is has no idea what alts are out their, thus, people who are new to crypto don't realize this and are really diving in deep on Bitcoin. I think this is the wrong move. A huge increase like this might look good on paper, and many of you have probably made a small fortune on this, but this is NOT healthy for the crypto market and I geunily believe we are up for some correction.
I see a major dump of BTC for Fiat
Some money will be taken out the market
Some money will be put back into low alts
And a lot of people are going to lose some money in these next few weeks
And a lot of people are going to make a lot of money in these next two weeks
I think people are looking at BTC the wrong way, and too many people are investing all at once to really give it a honest value. I don't think BTC is neccissarly over priced for its tech, but as of right now, I think this pump won't last long and we may correct as far down as 5. This is so unhealthy for this space it's crazy.
BTC2x is going to be added to Coinbase which will make more competition for LTC and ETH, but I think shortly after this fork either BTC or BTC2x will take a HUGE hit, and I mean a hit so hard it may cripple the coin forever or at least make it stalemate for a while..
I do think alts will be pumped hard coming soon. We may see a small dip in alts, but today is a great day to buy. Most are down upwards of 10%, and many are so undervalued right now it's incredible.
The problem with crypto is that there are so many other use cases for others like ETH, LTC, Ripple, etc, but 99% of everyone who knows what BTC is has no idea what alts are out their, thus, people who are new to crypto don't realize this and are really diving in deep on Bitcoin. I think this is the wrong move. A huge increase like this might look good on paper, and many of you have probably made a small fortune on this, but this is NOT healthy for the crypto market and I geunily believe we are up for some correction.
I see a major dump of BTC for Fiat
Some money will be taken out the market
Some money will be put back into low alts
And a lot of people are going to lose some money in these next few weeks
And a lot of people are going to make a lot of money in these next two weeks
I think people are looking at BTC the wrong way, and too many people are investing all at once to really give it a honest value. I don't think BTC is neccissarly over priced for its tech, but as of right now, I think this pump won't last long and we may correct as far down as 5. This is so unhealthy for this space it's crazy.
BTC2x is going to be added to Coinbase which will make more competition for LTC and ETH, but I think shortly after this fork either BTC or BTC2x will take a HUGE hit, and I mean a hit so hard it may cripple the coin forever or at least make it stalemate for a while..
I do think alts will be pumped hard coming soon. We may see a small dip in alts, but today is a great day to buy. Most are down upwards of 10%, and many are so undervalued right now it's incredible.
