Crypto Currencies go nuts
Full disclosure: I have positions in XRP, BCH, and ETH.
I have never seen such a pure speculation play. It’s like the Dot Com and Real Estate boom years all over again. Is it a bubble? You freaking bet. Will it be over soon? Hard to tell.
My thoughts are that it has a LONG way to go, why?
- Coins are not being hawked on CNBC or other business news shows yet;
- The mass public is scared of them, thinking it’s a scam (probably is);
- Lots of smart money (hedge funds, etc) are in them and waiting get out, and;
- The avg joe hasn’t opened an account with Coinbase yet.
Just look at XRP (Ripple). I got in at $0.73 yesterday. Zinged up over $1.00 on some exchanges overnight. Unreal, BUT I do like this technology. I think he can go to $10 in the near future.