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RE: Crypto Predictions - 12/31/2017
The top coins have never lost 90% of their value and I don't see why that would happen in 2018. If anything, they're going to rise in value.
The top coins have never lost 90% of their value and I don't see why that would happen in 2018. If anything, they're going to rise in value.
Crypto currencies have very little value other than the value people choose to ascribe to them (sure they can be used as a currency, but I'd wager at least 80% of the crypto holdings in the world are used for investment purposes - not currency/transactional purposes). Unlike stocks, there's no revenue stream to back up the value. Therefore, we are left with the fact that the skyrocketing value of crypto currencies is based almost entirely on people's expectation that they will CONTINUE to rise in value. Once this expectation disappears, so will the bullish enthusiasm for crypto, leaving the bears to run the show for a while. Maybe 90% is a bit of a stretch, but I think the crypto community is stuck in its own echo chamber - dismissing any suggestion that these assets may be vulnerable to retrenchment as "FUD."