Greg is out there, somewhere, kicking himself that he doesnt now own an island. Greg has a familiar story for anyone who has dipped into the cryptocurrency world. Towards the end of the 2000s, Greg sold his nearly 2,000 BTC for 30 cents a piece, making a tidy profit after he bought them nearly a decade before anyone even knew what this was.
In 2011, he publically remarked that each coin is worth $8 and he regrets the sale. Of course, his valuation now would be somewhere in the area of $20 million. This is not the only story. How can something go from a value of a few cents to hundreds of dollars in just a few short years? What has changed?
Bitcoin, and many cryptocurrencies expected to appear in its wake are all in a speculative void. In many respects, Bitcoin is only worth what the public says it is worth. It creates a speculative marketplace of risk and wonder. Can a cryptocurrency investment pay off with millions of dollars? Is it worth dipping into now or is it too late? 2018 is a pivotal year for the coin, based on wide speculation, rumors, and the workings of the crypto marketplace.
Another Greg in 2018
Could there be another Greg in 2018? This is someone who decides to sell now, comfortable with their earnings. The Bitcoin marketplace is wavering in 2018, and a sale is not necessarily a terrible idea. The big Bitcoin sell-off has slowed down, but there are many still holding on. The fear may be that they are another Greg. They have a modest amount of coins, perhaps pocketing a couple thousand dollars or more. But, this isnt life-changing. Is it possible that this sell-off is a terrible mistake, and that by 2022 each coin will be worth a million on its own?
Its possible, especially with the crypto-cap coming around the corner. There are only so many coins to go around, and speculation suggests that Bitcoin and other markets are on the cusp of a massive and staggering breakthrough. What exists now is only the beginning, and the market is at a distinct and powerful crossroads.
2018s Cryptocurrency Marketplace
2018 BitCoin first quarter has been scary for people not in the immediate circle of knowledge. It basically means that a lot of doom and misery has spread throughout media. Bill Gates recently, and perhaps jokingly, said that cryptocurrency is super risky. In 2014, he said that it is better than currency due to not having to be in the same place. He was supported of cryptocurrency as a platform but admits its risks.
The media latched onto a narrative that cryptocurrency is dead and ran with it. This created a bit of a vacuum, including a huge sell-off. Bitcoin faced a whiplash 2017, with prices skyrocketing early in the year and values dropping out by the end.
Cryptocurrency results first quarter 2018 show a bad story, but likely a temporary one. Bitcoin is in the red. For some, it isnt looking good. There are a few reasons for the decline, and two, in particular, make the most sense. The first is government regulation, with some foreign bodies banning or restricting the coin from use. The other is the media, pushing this gloomy message for clicks and likes. Why have BitCoin prices dropped the first quarter of 2018? One of the biggest theories last week is that BitCoin price was driven down via a sale of large number of BitCoin by the bankruptcy custodian of Mt Gox.
Speculators are claiming that the market is a clear bear for 2018. But, things may soon start to settle down once again. By the middle of the year, it is likely the market will calm and return to normal after the amateurs by in and out and move on with their life.
The government restrictions are not new to Bitcoin, so their impact is not necessarily any more or less than they have been before. There will be dips, as have always been common in the cryptocurrency world. The introduction of other coins will shake values up. But, the media doom and gloom is only a small lens of the wrong narrative.
In the future, a single Bitcoin could be worth one million dollars. In the future, the same coin could be worth a penny at most. Both are possible. Bitcoin may also be replaced by another massive currency, but which one? There are about 30 reputable coin providers in the market now, not to mention the hundreds with a modicum of value that could see huge exposure with the right hand. Overall, the speculative environment of cryptocurrency is what makes it wonderful, enthralling, nerve-racking, and incredibly hard to decipher.