I have been watching the crypto currencies a lot since my discussions with Alex Linder. Alex’s predictions are coming true. Bitcoin is definitely moving. Max Keiser predicted that it would hit $200,000+ by October this year.
At the time he made the prediction Bitcoin was around $40,000. Now it has broken upwards and is trading at $62,700.
I do know a little bit about reading stock market charts and I can tell you that the break upwards for Bitcoin, is from a very strong base. So this is a very major move.
I have noticed that the main cryptos, and Ether is No 2, follow Bitcoin. The moves are not exactly the same but Etherium has also broken upwards in a big way.
According to Max, Bitcoin will peak in October to January before collapsing as the cycle will then end. He says that Bitcoin moves in 4 year cycles.
I therefore expect Ether and most of the others to also crash when Bitcoin crashes. But I do expect that when Bitcoin crashes that it will still be higher than at the previous cycle’s crash. So I don’t expect it to be a wipe out. But I do think it will crash quite a bit. However, there will be a massive upside before it falls.
I do think that the LONG TERM for cryptos like Bitcoin especially and also Ether is good. I definitely agree with Alex that in the long term, Bitcoin especially is here to stay. I dug somewhat into Ether and it is very sophisticated and has lots of practical accounting use. So I think Ether also has a future, but I suspect that Bitcoin will be the "Gold" of the Crypto Currencies.
So we have LIFT OFF… and it will be interesting to see if we are going to have a very wild year in Bitcoin!!!!
Gold on the other hand is in the doldrums at the moment. But that’s fine. It’s busy building its base. It will have liftoff too at some point.