Investors Think Crypto Is Bubble While Others Are Scrambling to Get In | Where to Take Refuge
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When asked if he changed his mind concerning Bitcoin in the CNBC interview, he answered saying that he did not, and that “it is a delusion, basically.” During the conversation, he also pointed out that Bitcoin has no unique value at all, since “blockchain does not depend on Bitcoin” and it does not produce anything.
Who else could have said that than the great Berkshire Hathaway CEO, Warren Buffet?
While a lot of people and countries are scrambling to get in or have a share in crypto assets, some alternative investors think crypto is a bubble.
Recently, the Supreme Court of India has reportedly granted four weeks to Indian authorities to come up with cryptocurrency regulation policies. According to Inc42 on Feb. 25, the report was that if the Indian government does not provide a crypto regulatory framework in four weeks, the Supreme Court is set to release their own judgement, the article states.
We know that India struggled to become a Blockchain country since 2018, you can see it here.
Coming back to the bubble, according to the 2019 Cayman Alternative Investment Summit (CAIS) survey, investors think that, as an asset class, cryptocurrency represents a bubble. The results of the survey were provided in a press release shared with Cointelegraph.com on Feb. 25.
The study of the survey showed that 45 percent of the surveyed investors consider digital currency the asset class that presently most represents a bubble. 20 percent, 19 percent and 16 percent of respondents said they think that U.S. equities, the leveraged loan market, and private credit represent a bubble, respectively.
When asked about the technological shifts most anticipated to influence the market, 45 percent of respondents named automation and machine learning, while 38 percent reportedly believe that blockchain will have the biggest impact globally.
While this was going on, Buffet backed it up with this, “You can stare at it all day, and no little Bitcoins come out or anything like that. It’s a delusion, basically.”
Before you tag anyone as a hypocrite, you should know that in October 2018, Berkshire Hathaway invested around $600 million in two Fintech payment firms focused on emerging markets.
As a resistant, a well-known Bitcoin whale, in an interview with Bloomberg TV, Mike Novogratz, a former Goldman Sachs partner and founder of crypto merchant bank Galaxy Digital, argued that “we’re not going to bubble back up,” citing $8,000 as a feasible medium term price point for Bitcoin (BTC). Reflecting on the protracted crypto winter, Novogratz quipped that the past year demonstrated “just how painful popped bubbles can be.”
Just to come to terms with this argument, you should note that none of this affects the growth or the existence of 30 Mooning Blockchain assets. I mean, if I was in the financial system and I had some influence, I would be granted an audience wherefore I can air out my mind for or against what I believe — crypto or fiat.
So, crypto might be a bubble and may not. The truth is, that didn’t stop Ripple coin from being listed on Coinbase Pro some days ago and again, that hasn’t stop investors from scrambling to trade it when it is fully opened.
How Crypto Whales Came to Be?
Perhaps you have been wondering how crypto whales got that name. This is it. They (some of them) played free Bitcoin games and were reward 5BTC for each stage of the games. They did this and eventually amassed more than 1000 BTC in their wallets which at that time was nothing more than $0.05 to 1 BTC.
Fast forward to 2016, that 1000 BTC worth $0.05 was playing hard at $1000/BTC. Of course, we are in 2019, so, 1BTC now is about $3500 meaning, 1000BTC x $3500 is a whole lot of money. What am I trying to say?
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The big question.
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The Resistance and Support for Crypto — Market Analysis
BTC
The recovery in Bitcoin (BTC) that started from $3,355 went up to $4,000 with a critical resistance of $4,255.
ETH/USD
Ethereum (ETH) took a nosedive on Feb. 24 after rising above the overhead resistance of $167.32.
XRP/USD
Ripple (XRP) closed above the overhead resistance of $0.33108 on Feb. 23.
Top Cryptos for February 2019
These were the overall review of the top crypto assets to buy in 2019. Some have made profits already. See the whole coins.
I can go on and on. What this means is that whether one man or some non-crypto investors think crypto is bubble won’t stop the assets from mainstreaming.
Opportunities to Maximize In Cryptocurrency
#1. Getting Started in Crypto.
You can easily get started in crypto if you do not know how it works. Here is how to.
#2. How to play win Massively
Should you not want to be scared of nothing, here is how to play safe and win like the whales.
#3. Earn Free Cryptocurrencies
Perhaps you are not yet a believer or with zero investment strength, then you can still take advantage of the industry and earn free cryptocurrencies in 2019.
#4. Getting Top Paying Blockchain Jobs in 2019
If you want to maximize the opportunities presented in crypto, then you can get one of these Blockchain job opportunities and get along. Totally free and you’ve got nothing to lose since they are paying you, right? Get started.
#5. Winning In Crypto Trading 2019
This is the part that is interesting. In crypto trading, you are investing a bit of your money. The big deal here is that you don’t have to sink in $5,000 in crypto trading. No. you can test it out with as little as $500 to see your strengths. But if you know you can’t trust your trading strength, here is a free trial tool to use and see how to win.
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Final Thoughts
Getting into cryptocurrency is not what you want to do when you know the risk involved. Just for you to know the essence of it, I had to go the way of Warren Buffet in case you are not comfortable investing in this industry. And in the other way round, I had to give you backups in terms of the growth of crypto assets irrespective of what distant crypto investors think.
So, the essence of this was that you win. At least you have seen the options available to you.
Go through the options once again if you want and let me know what you think if you have any questions.
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Ref: Cointelegraph.com
