Why the Crypto Coinmarket cap will reach a trillion by the end of 2018!!
mediumjack (25) in cryptocurrency • 4 minutes ago
It was virtually less than a month ago, that the banking world found laughable the idea of cryptocurrencies playing a significant part in the worlds financial markets. Jamie Dimon called Bitcoin a scam and Warren Buffet made headlines with quotes like “Bitcoin will come to a bad end” (https://www.investopedia.com/news/buffett-cryptocurrency-they-will-certainly-come-bad-ending/).
It seems that the tides have turned however. Perhaps announcements like those of a former JP Morgan top executive (https://steemit.com/cryptocurrency/@mediumjack/former-jp-morgan-traders-look-at-cryptocurrencies) suggesting that banks are heading in the direction of the dinosaur, prompted this apparently sudden shift in perception.
The more recent news coming out of the banking world can be seen as surprising, invigorating but also disconcerting. The sudden change of oppinions the banking world held towards the world of cryptocurrency, seems to have occured in a space of less than two months. While the month of January was saturated with reports of doom and gloom in the form of banks banning cryptocurrency accounts and governments shutting down cryptocurrency exchanges, the end of February and early days of March seem to be on a course of completely removing any doubts about the true value of Bitcoin and thus the cryptocurrency market.
It warms the heart of any crypto investor to hear that governments and the big banks are becoming skiddish about not being knee deep in the crypto market since this carries the possibility of significant investments flowing in, thus raising marketcap and the overal value of Bitcoin and many other Altcoins. Not to mention the exposure the involvement of governments and banks in the cryptocurrency would would bring to the general public, increasing investments from the private sector even further. Who knows, we could see a 2 trillion marketcap by the end of this year.
With all the blossoms being carried in on the spring winds, however, one should not forget the old saying of “Be careful what you wish for”. There is one thing that governments and banks are very good at and that is the exertion of control, particuarly control over the general population. Before jumping for joy over the news of the sudden acceptance of cryptocurrencies coming from so many different governmental and centralized financial chanels, one should not forget another good old saying “if you can’t defeat them, join them” and cryptocurrency is most certainly something that cannot be defeated. Lets not forget that Bitcoin, Ethereum, Litecoin and the thousand odd other cryptocurrencies, are only the visible part of the unstopable force. Underneath all the names is the actual technology, Blockchain, which most people fail to remember.
I think that most if not all experts in the field of Blockchain development would agree with me that while most of fiat derives its value from, well Banks who claim that there is some inherent value within each and every printed piece of paper, which never stops being printed, and is printed at will at any given time a particular government reqests one of the central banks to print it, thus making fiat money infinite in its supply and thus relatively valueless….Cryptocurrency, like Bitcoin, has a finite supply, which is backed by a technology that allows for the development of numerous online solutions, applicable to everyday world problems….
(the winded, paragraph long sentence is not a run on, but rather done intentionally in order to stress the constant propagation of our present financial system which is bound to implode, due to the 30 trillion debt held by the U.S. alone)
Banks have realized that the general public is taking cryptocurrencies seriously. It is not a game or a gamble to most of us, but, as corny as this may sound, a way of life. The internet is saturated with memes, of cryptocurrency investors unwilling to spend 10 fiats (indicating 10 of whatever currency you presently happen to be operating, regarless of its value), on a a taxi to take them home, yet showing absolutely no fear of investing thousands into the cryptocurrency market. Rightly, wisely or not, the public believes that there is something inherently reliable in the cryptocurrency market. Maybe with all the simplicity in thought processes, people have realized something the banks and governments in their complexity could not, namely the simple truth that value can be assigned to anything we choose to have value. But when value is literally placed at our feet, all we need to do is scoop it up and make it work. That is the Blockchain, that is the cryptocurrency market.
Or perhaps we shold disregard all this jiberish and pay more attention to the skewed repporting of the media outlets, who in reality try to keep up with the public trend by reporting what the people want to hear not what the actual news is at any given time. Unthinkable you say? Peep this.
News wants to be visible, as that is where profits lay. Those read by more people receive a greater exposure, which menas higher economic gains. Those news outlets that are not read as much drop off into the oblivion of the lost media world and are never heard from again. In order to stay in the limelight news outlets must report on whats trendy. It seems that crypto is a trendy topic and no one wants to hear any more bad news for the time being. The past two months have drained peoples emotions and bank accounts. Markets need to move up for the big fish to make gains leaving scraps along the way for us little shrimp to pick up. But hey, whetever works.
Ride the wave!!
Well enough of this cheesiness.
CRYPTO TO THE MOON!!!! Or if not there at least to the couple trillion discussed above.
MediumJack