Topic: 3 reasons the crypto markets are in a dive and Tom Lee is moving the goal post - page 2. (Read 310 times)
June 20, 2018, 07:56:15 AM
Government regulations really affects adoption. I also minimizes my usage of bitcoin personally because I don't know if in the near future my favorite exchange files me taxes I can't afford to pay.
June 20, 2018, 07:43:18 AM
I have heard many reviews in the past year that everyone believes in bitcoin and will keep their coins for a long time. What happened? It's only been six months and a lot of people have gone into panic. This is a signal to me that there are many random people in the bitcoin community who are focused on making quick profits. I do not see anything terrible and still think that bitcoin is the best that I have.
June 20, 2018, 07:42:04 AM
This is just another typical bullish dude who later realizes that such goals are clearly unattainable right now due to the present market conditions and moves his predictions to a more unsure date. Let's face it, no matter how hard we want the market to go crazy again, it isn't gonna happen. As he stated, there was a parabolic move that took crypto to uncharted heights, and afterwards, a blow-off happened that left us with the current prices which still is unstable. Also, I wouldn't blame regulations for adding fire to the flame. If anything it increases consumer's confidence on the asset knowing that they are somehow protected by their 'constitutional rights' upon buying the coin. It's just the market adjusting and consolidating, at least on the way I see it.
June 20, 2018, 07:34:47 AM
It's just the same bla bla as always. Nothing changes the fact that they don't know more than we do regarding what's going on. Common sense does the job.
Governments aren't pushing that hard when it comes to regulating this market, and what has the SEC done to ICO's that it scares off investors? Investors aren't really investors but just gamblers not caring about anything. Regulations can't stop them from buying the next potential Ethereum.
Regarding institutions, how can we expect them to instantly pull out their big guns? If they enter, it will first happen through financial instruments which we are lacking currently. Futures are okay but they don't offer long term exposure and it's more gambling. I'm fairly sure that an ETF backed with the underlying asset will be the first major sign that institutions are entering.
The most important factor for institutions is regulative clarity and custody. Both are lacking and both need to be worked on.
Governments aren't pushing that hard when it comes to regulating this market, and what has the SEC done to ICO's that it scares off investors? Investors aren't really investors but just gamblers not caring about anything. Regulations can't stop them from buying the next potential Ethereum.
Regarding institutions, how can we expect them to instantly pull out their big guns? If they enter, it will first happen through financial instruments which we are lacking currently. Futures are okay but they don't offer long term exposure and it's more gambling. I'm fairly sure that an ETF backed with the underlying asset will be the first major sign that institutions are entering.
The most important factor for institutions is regulative clarity and custody. Both are lacking and both need to be worked on.
June 20, 2018, 01:44:37 AM
Tom Lee remains bullish about Bitcoin and thinks the cryptocurrency will be worth between $20,000 to $64,000 by the end of 2019.
I think he is right but IMO it is too early for bitcoin to reach the speculated price by the end of 2019. It might take a longer time than that(maybe by the end of 2020 or on 2021).the parabole (as described by 2017's December price shoot) was intended to change the scope of investment - it did alright, but not in the direction we all expected.
At least that parabole caught the attention of many people, bringing bitcoin closer to mainstream adoption. Because of the 2017 price shoot, some countries legalized the use of Bitcoin and for this reason, I think it still changed the scope of investment in the direction we all expected. 
June 20, 2018, 01:26:38 AM
64000 more them 1 trillion market cap. I think we will hit 1 trillion market cap on total cryptocurrencies when Bitcoin hit 20k again. Probably some big projects will fail Big, but still, I do not see Bitcoin with more them 50% in the next bull run.
June 19, 2018, 11:15:04 PM
I'd consider his revision as good news instead of bad news. It means we will have less people coming in with most probably false expectations. While I can't say for certain what will happen I have to agree with Pooya that any recovery would take at least 6 months. More likely 1 or more years. For that reason his prediction of 2019 is much more likely.
June 19, 2018, 11:09:26 PM
In any case, this is sad news.
nah, there is nothing sad about that. we knew that the bull market was over when the price reversed from the ATH at $20k and started the correction. and by the time the dumping began to push the price below the real and strong support at $10k we knew that the forced bear market is here to stay and every day that the push became harder we became more sure of it. and that has been 5 months ago! even of the rally began today it would take at least another 6 months to reach the previous ATH let alone set a new one.
June 19, 2018, 10:22:15 PM
I quite agree with his logic, cryptocurrency is facing tremendous pressure from both the unwillingness of mainstream traditional investors and financial security agencies, which have slowed down the morale at which the parabole (as described by 2017's December price shoot) was intended to change the scope of investment - it did alright, but not in the direction we all expected.
June 19, 2018, 09:05:42 PM
This will hurt the bulls who are expecting that Tom Lee's prediction of $25,000 by the end of 2018 will still occur, because he has moved the goal post to the end of 2019 hehehe.
In any case, this is sad news.
“I think there are several factors why cryptos are falling. One, we had a parabolic move at the end of last year, so there is a period of consolidation and price adjustment that is taking place.”
“I also think bigger factors this year have been a lot of government actions that have been taken this year that have scared crypto investors, probably the most notable is the actions taken by the US regulators, like the SEC taking action against ICOs.”
“Lastly, the pace of institutional investor participation in this space has been taking longer than expected, and I think part of that has to do with the slowness of getting some of the onramps established.”
Tom Lee remains bullish about Bitcoin and thinks the cryptocurrency will be worth between $20,000 to $64,000 by the end of 2019.
Read the whole article https://www.whatech.com/cryptocurrency/news/479523-bitcoin-3-reasons-the-crypto-markets-are-in-a-dive-tom-lee
In any case, this is sad news.
“I think there are several factors why cryptos are falling. One, we had a parabolic move at the end of last year, so there is a period of consolidation and price adjustment that is taking place.”
“I also think bigger factors this year have been a lot of government actions that have been taken this year that have scared crypto investors, probably the most notable is the actions taken by the US regulators, like the SEC taking action against ICOs.”
“Lastly, the pace of institutional investor participation in this space has been taking longer than expected, and I think part of that has to do with the slowness of getting some of the onramps established.”
Tom Lee remains bullish about Bitcoin and thinks the cryptocurrency will be worth between $20,000 to $64,000 by the end of 2019.
Read the whole article https://www.whatech.com/cryptocurrency/news/479523-bitcoin-3-reasons-the-crypto-markets-are-in-a-dive-tom-lee
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